Cryptocurrency’s Legal Considerations for Asset Managers The asset management community’s interest in cryptocurrencies (also called virtual currencies) has grown in tandem with the exponential increase in market price of Bitcoin in recent months. As recently as January 2017, a single Bitcoin could be traded for $1,000. Today, a single Bitcoin traded for $16,680; a Bitcoin …
CFTC’s Modernized Record-keeping Rules Take Effect on August 28 In late May, the CFTC adopted amendments to its record-keeping rule, Rule 1.31, applicable to CFTC registrants who are obliged to keep specified records under the Commodity Exchange Act (CEA) and the CFTC’s rules. The amendments take effect on August 28. Until the amendment, CFTC rules …
NFA Adds Financial Ratios to Information Required for Forms PQR and PR for Quarter Ending June 30, 2017 In August 2016, NFA’s Board of Directors issued an Interpretive Notice under which registered CPOs and CTAs will be required to report specified financial ratios in their Forms PQR and PR, beginning with the quarter ended June …