The SEC has postponed the deadline for private fund data reporting to October, and Atkins plans to narrow the collection scope.

[Mining Coin] Paul Atkins, the Chairman of the SEC, stated that in the upcoming regulatory policies, he hopes SEC staff will consider narrowing the range of data that private fund advisors must provide to regulators. The deadline for compliance with new data reporting requirements will be postponed from June 12 to October 1. However, more limited data collection could be a greater victory for hedge funds and private equity firms. Atkins is concerned whether the Trump administration’s use of data “aligns with the immense burden imposed.” He has requested staff to conduct a “comprehensive review” of the increased data collection requirements during former SEC Chairman Gary Gensler’s tenure. Private fund advisors noted they are facing challenges, including technology, ahead of the deadline this week. SEC staff indicated in the committee meeting on June 11 that many funds originally had over two months before they actually needed to start submitting new data.