AIMA joins joint trade association request for Form PF extension

Published: 17 December 2024

On 13 December 2024, AIMA joined MFA, IAA and SIFMA AMG in a request to the U.S. Securtities and Exchange Commission and the Commodity Futures Trading Commission for an extension of the compliance deadline for the changes to Form PF adopted in February 2024.  Under current staff interpretation, after March 12, 2025, any filing on Form PF must be made on the revised version of the Form PF.  The new XML schema is still far from being finalised, the SEC staff has not yet provided clarification on some of the key details required for completing some of the questions resulting in the need for assumptions and the first quarter timing of the change over all combine to make the prospect of compliant filings from March 12 a significant challenge for firms.  To ease that burden and to allow the staff at FINRA further time to complete and test the final XML schema with appropriate guidance from the SEC staff, the associations requested that the commissions extend the compliance date until September 12, 2025, or at a minimum, until June 12, 2025.  We will continue to keep members posted of developments in this area.  Please contact Jennifer Wood with any questions.