CFTC, SEC seek input on hedge fund crypto reporting rules

The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have jointly sought public comments to amend crypto rules for large hedge funds advisers.

See related article: New US crypto bill seeks to make CFTC top Bitcoin, Ethereum watchdog

Fast facts

• The CFTC and SEC are jointly proposing to amend the rules of Form PF, which is a confidential reporting form for certain SEC-registered investment advisers to private funds. 

• The deadline to receive comments is Oct. 11. 

• The amendments are expected to improve the Financial Stability Oversight Council’s capacity to monitor systemic risk. 

• It is also expected to strengthen the SEC’s supervision over private fund advisers and efforts to ensure investor protection. 

• “We also are soliciting comment on the proposed rules and a number of alternatives, including whether certain possible changes to the proposal should apply to Form ADV,” the CFTC and SEC said. 

• The CFTC and SEC are independent agencies of the U.S. government. While CFTC regulates the derivatives markets, the SEC watches over market manipulation.

See related article: Is the CFTC expanding its powers over crypto without authorization from Congress?