September 18, 2025
What Happened?
On September 17, 2025, The Securities and Exchange Commission (“SEC”), jointly with the Commodity Futures Trading Commission (“CFTC”), voted to extend the compliance date for the amendments to Form PF again. This is the third extension this year for the amendments that were adopted on February 8, 2024. The original compliance date fell on March 12, 2025, and was first extended to June 12, 2025, then extended again to October 1, 2025, and now extended another year until October 1, 2026.
This third extension was accompanied by the following statement: “this further extension will provide time to complete a substantive review of Form PF in accordance with a Presidential Memorandum and take any further appropriate actions, which may include proposing new amendments to Form PF.”
What does this mean for me?
Here we are again. Although it is hard to complain about getting an extension of time, for those who have prepared for compliance on three different deadlines in a row, the extension to a fourth deadline is understandably deflating. We will have to wait and see if a review of Form PF in accordance with the Presidential Memorandum and the SEC’s priorities under Chairman Atkins leads to a concrete deadline, other actions, or even a new proposal of amendments to Form PF.
We will continue to monitor regulatory updates and new developments that impact investment advisors. If you have questions, contact us. Fairview is here to help.
