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SEC and CFTC revisit Form PF – a recalibration of data and regulatory intent

Bundles of paper
Photo: Anthony Devlin/Getty Images

A joint proposal signals a shift from maximal data collection toward a more selective model of systemic risk monitoring.

On April 20, 2026, the SEC and the Commodity Futures Trading Commission (CFTC) jointly proposed amendments to Form PF. The document itself is procedural. The implications are not.

What appears, at first glance, to be a technical revision to reporting thresholds is better understood as a methodological shift in how regulators conceptualize

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