News Centre

CFTC Commissioner Pham To Speak At EUROFI Ghent 2024

Date 08/02/2024

Dissenting Statement Of CFTC Commissioner Caroline D. Pham On SEC-CFTC Joint Final Rule On Form PF

Date 08/02/2024

I respectfully dissent from the Joint Final Rule on Form PF and Reporting Requirements for All Filers and Large Hedge Fund Advisers that is being issued together with the U.S. Securities and Exchange Commission (SEC) (SEC-CFTC Joint Final Rule on Form PF or Joint Final Rule) because, overall, the rule does not achieve its stated purpose to improve systemic risk monitoring because it will obscure hidden risks and unacceptably increase costs for American savers.

Statement On Form PF: Reporting Requirements For All Filers And Large Hedge Fund Advisers, SEC Commissioner Mark T. Uyeda, Feb. 8, 2024

Date 08/02/2024

The latest Form PF amendments – the second set of substantive additions within a year – further expand the scope and granularity of information that private funds must report.  The comment file is replete with substantive criticism of the expanded reporting requirements.  Administrative agencies like the Commission have an obligation to consider and respond to significant comments received during the period for public comment. Regrettably, the Commission dismisses those concerns with assumptions and unsupported conclusory statements. 

CME Group Inc. Names Slate Of Director Nominees

Date 08/02/2024

CME Group Inc., the world's leading derivatives marketplace, today announced its slate of candidates for its board of directors for election at the company's annual meeting to be held Thursday, May 9, 2024.  

Joint Statement Of SEC Commissioner Mark T. Uyeda And CFTC Commissioner Caroline D. Pham: Memorandum Of Understanding Between The SEC And The CFTC Regarding The Use Of Form PF Data: Commissioner Mark T. Uyeda, U.S. Securities And Exchange Commission, Commissioner Caroline D. Pham, U.S. Commodity Futures Trading Commission

Date 08/02/2024

The U.S. Securities and Exchange Commission (“SEC”) and the U.S. Commodity Futures Trading Commission (“CFTC”) have entered into a memorandum of understanding (“MOU”), under which the SEC will grant the CFTC unrestricted access to all data submitted by all Form PF filers. Because the MOU contains a number of deficiencies, we dissent.

Statement Of CFTC Commissioner Kristin N. Johnson: The Importance Of Financial Market Transparency For Systemic Risk Management

Date 08/02/2024

Transparency is an integral component of the regulatory framework that ensures the safety and soundness and enduring preeminence of our financial markets.  Our statutory mandate expressly directs the Commodity Futures Trading Commission’s (Commission or CFTC) mission to “ensure the financial integrity of all transactions subject to [the Commodity Exchange Act] and the avoidance of systemic risk” and today, consistent with this mandate, the Commission seeks to enhance oversight and improve visibility through well-calibrated data collection approaches.

Curiouser And Curiouser: Statement On Amendments To Form PF To Amend Reporting Requirements For All Filers And Large Hedge Fund Advisers, SEC Commissioner Hester M. Peirce, Feb. 8, 2024

Date 08/02/2024

I write to dissent from the latest unwarranted expansion of Form PF. These revisions stem from the Commission’s unbridled curiosity rather than from a legitimate regulatory objective. In 2010, Congress established the Financial Stability Oversight Council (“FSOC”) and charged it with, among other things, “identify[ing] risks to the financial stability of the United States.” Congress directed the Securities and Exchange Commission (“SEC” or “Commission”) and the Commodity Futures Trading Commission (“CFTC”) (collectively, “Commissions”) to provide some of the information FSOC would need to fulfill its duties, and so in 2011 Form PF was born.

Statement On Final Joint Amendments To Form PF, SEC Chair Gary Gensler, Feb. 8, 2024

Date 08/02/2024

Today, the Commission voted to adopt amendments to Form PF, an important reporting tool whereby the Commission and the Financial Stability Oversight Council (FSOC) receive reporting from private fund advisers. I am pleased to support the adoption because it will improve the quality of the information we receive, particularly from large hedge fund advisers. This will help the SEC and FSOC to better assess systemic risk and protect investors.

CFTC Approves A Joint Final Rule To Amend Form PF Regarding Reporting Requirements For All Filers And Large Hedge Fund Advisers

Date 08/02/2024

The Commodity Futures Trading Commission today announced it has approved a final rule that amends Form PF concurrently with the Securities and Exchange Commission (SEC) as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Form PF is the confidential reporting form for certain investment advisers to private funds that are registered with the SEC, including those also registered with the CFTC. Additionally, the CFTC and SEC have agreed to a memorandum of understanding related to the sharing of Form PF data between the Commissions.

SEC Adopts Amendments To Enhance Private Fund Reporting

Date 08/02/2024

The Securities and Exchange Commission today adopted amendments to Form PF, the confidential reporting form for certain SEC-registered investment advisers to private funds, including those that also are registered with the Commodity Futures Trading Commission (CFTC) as commodity pool operators or commodity trading advisers. The amendments, which the CFTC concurrently adopted, are designed to enhance the ability of the Financial Stability Oversight Council (FSOC) to monitor and assess systemic risk and to bolster the SEC’s oversight of private fund advisers and the agency’s investor protection efforts. The SEC and CFTC also agreed to a memorandum of understanding related to the sharing of Form PF data.