The SEC and CFTC jointly proposed amendments today to reduce Form PF reporting requirements for private fund managers by raising asset thresholds—exempting smaller advisers and only requiring detailed exposure reports from hedge funds managing over $10 billion instead of $1.5 billion. The agencies claim the changes will still capture data on over 90 percent of private fund assets while reducing compliance costs that have distracted fund managers from core functions. The proposal reflects SEC Chairman Atkins's stated agenda to reduce regulatory burdens, though consumer advocates have criticized similar rollbacks as potentially reducing visibility into systemic financial risks during a period of rapid growth in private credit markets.