The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have jointly updated Form PF, used for confidential reporting by certain investment advisers. These changes correct previous errors and add omitted amendments, ensuring accuracy and consistency. The updates, effective April 11, 2025, do not introduce new regulations but refine existing requirements. The agencies expedited the amendments without seeking public comments due to their non-substantive nature.
Simple Explanation
The CFTC and SEC fixed mistakes in a form that some advisers use to secretly report information, making sure everything is correct without changing any rules. They quickly made these fixes because they were simple and didn't ask people for their thoughts.