Gate News reports that on March 20, the U.S. Securities and Exchange Commission (SEC) submitted two new proposed rules for review to the White House Office of Management and Budget (OMB) on March 20, involving digital assets and disclosures for hedge funds and private equity firms. The proposals were made public on Monday (March 22). SEC Chair Paul Atkins previewed the digital asset proposal last week, which includes an “innovation exemption” allowing digital asset companies to be exempt from registration as broker-dealers, exchanges, or other regulated entities for a limited time. Another rule involves significant adjustments to Form PF, used by hedge funds and private equity funds to report performance and risk metrics. Atkins previously delayed the effective date of the new Form PF disclosure requirements established during Gary Gensler’s tenure to October 1 and stated that efforts are underway to explore ways to reduce disclosure burdens.
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