Securities Regulation Daily Wrap Up, REGULATION TRACKER—Upcoming SEC and CFTC comment deadlines and effective dates, (Aug 18, 2025)

By WK Editorial Staff

A table of proposed rule comment dates and final rule effective and compliance dates for SEC and CFTC rulemaking.

Recent SEC activity includes the following:

EDGAR Next. The SEC adopted rule and form amendments to improve access to and account management on EDGAR as part of changes related to EDGAR Next. EDGAR filers will be required to authorize designated individuals responsible for managing the filers' accounts; these individuals must present individual account credentials obtained from Login.gov to access those EDGAR accounts and make filings. Form ID has also been modernized to make the form more user-friendly. EDGAR Next functionality will include 15 optional APIs allowing for machine-to-machine interactions with EDGAR. A beta environment will be available until March 21, 2025, and a new EDGAR Filer Management website goes live on March 24, 2025.

Reporting Enhancements for Registered Investment Companies. The SEC adopted amendments to its reporting requirements on Forms N-PORT and N-CEN that are applicable to certain registered investment companies. Amendments to Form N-Port require funds to file reports on a monthly basis and within 30 days after the end of each month; each monthly report will be public 60 days after the end of the month. Amendments to Form N-CEN require open-end funds that are subject to liquidity risk management program requirements under ICA Rule 22e-4 to report certain information about service providers used to fulfill those requirements. The release also contains guidance on certain open-end fund liquidity risk management program requirements.

Please see the SEC Regulation Tracker for proposal comment deadlines and final rule compliance dates.

CFTC

Recent CFTC activity includes the following:

Spot crypto trading initiative. The CFTC is seeking feedback and suggestions on how spot crypto asset contracts may be listed on a designated contract market (DCM) under existing CFTC authority. Acting Chairman Caroline Pham stated, “Under President Trump’s strong leadership and vision, the CFTC is full speed ahead on enabling immediate trading of digital assets at the Federal level in coordination with the SEC’s Project Crypto.” She added, “Together, we will make America the crypto capital of the world.” Currently, retail trading of commodities with leverage, margin, or financing must be conducted on a DCM. The CFTC is seeking input on listing spot crypto asset contracts on a DCM, including section 2(c)(2)(D) of the Commodity Exchange Act, Part 40 of CFTC regulations, and whether there are any implications under the securities laws or regulations with respect to an SEC framework for trading of non-security assets that are part of an investment contract. Members of the public may provide written input by August 18 by submitting a comment on the CFTC website.

Form PF. The CFTC and SEC further extended the compliance date for the amendments to Form PF that were adopted on February 8, 2024, from June 12, 2025 to October 1, 2025. Form PF is the confidential reporting form for certain SEC-registered investment advisers to private funds, including those that also are registered with the CFTC as a commodity pool operator (CPO) or commodity trading adviser (CTA).

Please see the CFTC Regulation Tracker for proposal comment deadlines and final rule compliance dates.

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