U.S. Commodity Futures Trading Commission (CFTC)
U.S. Government: Appointed Boards | U.S. Boards & Commissions
Recent News About U.S. Commodity Futures Trading Commission (CFTC)
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Washington, D.C. — The Commodity Futures Trading Commission’s Technology Advisory Committee (TAC), sponsored by Commissioner Christy Goldsmith Romero, recently released a Report on Responsible AI in Financial Markets. The TAC, comprised of esteemed experts in AI, made five recommendations to the Commission on how to approach the evolving landscape of AI in financial markets.Commissioner Goldsmith Romero praised the Committee's approach and emphasized the importance of responsible AI practices in safeguarding financial markets. She highlighted the significance of...
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Washington, D.C. — In a recent announcement, Commissioner Christy Goldsmith Romero revealed plans for an upcoming event titled "AI Day" to be hosted at the Commodity Futures Trading Commission’s Technology Advisory Committee (TAC) meeting on May 2, 2024. The event will be held at the CFTC’s Washington, D.C. headquarters and is open to the public, either in person or through a live webcast on CFTC.gov."AI Day will take place from 1:00 p.m. to 4:00 p.m. (EDT)," stated Commissioner Christy Goldsmith Romero, emphasizing the timing of the event.The main focus of AI Day will...
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Commissioner Summer K. Mersinger is set to partake in a Keynote Q&A session at the MFA Legal & Compliance Conference. The event is scheduled to take place on Thursday, May 2, 2024, from 3:00 p.m. to 3:30 p.m. (EDT) at the New York Athletic Club located at 180 Central Park S, New York, NY 10019.The conference, organized by the Managed Funds Association (MFA), will provide a platform for industry professionals to discuss legal and compliance matters within the financial sector. More information about the event can be found on the MFA Legal & Compliance New York 2024...
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Commissioner Summer K. Mersinger will participate in a fireside chat at the Environmental Markets Conference. The event is scheduled for Wednesday, May 1, 2024, from 3:30 p.m. to 4:15 p.m. (EDT) at the David L. Lawrence Convention Center, 1000 Fort Duquesne Boulevard, Pittsburgh, PA 15222.The announcement of Commissioner Mersinger's participation at the conference was made without further details on the topics that will be discussed during the fireside chat.The Environmental Markets Conference is a significant event that brings together key stakeholders and experts in...
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Washington, D.C. — Commodity Futures Trading Commission Chairman Rostin Behnam has appointed Dr. Ted Kaouk as the agency's inaugural Chief Artificial Intelligence Officer. Dr. Kaouk, who currently holds the position of Chief Data Officer and Director of the Division of Data at the CFTC, will now take on the role of Chief Data & Artificial Intelligence Officer.In response to the appointment, Chairman Behnam highlighted the significance of leveraging data analytics and artificial intelligence to enhance the CFTC's capabilities in overseeing and enforcing regulations in the...
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Commissioner Christy Goldsmith Romero announced the agenda for the upcoming "AI Day" at the Commodity Futures Trading Commission’s Technology Advisory Committee meeting on May 2, 2024. The event will take place from 1:00 p.m. to 4:30 p.m. (EDT) at the CFTC’s Washington, D.C. headquarters and will be open to the public both in person and via live webcast at CFTC.gov."We have a fantastic must-watch agenda for AI Day for anyone interested in digging deeper into how regulators should be approaching AI in regulated financial services, including generative AI," stated...
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Washington, D.C. — The Commodity Futures Trading Commission today announced it has approved a final rule that amends the capital and financial reporting requirements of Swap Dealers (SDs) and Major Swap Participants (MSPs).According to the announcement, "The amendments make changes consistent with CFTC Staff Letter No. 21-15 regarding the tangible net worth capital approach for calculating capital under CFTC Regulation 23.101, as well as CFTC Staff Letter No. 21-18, as further extended by CFTC Staff Letter No. 23-11, regarding the alternate financial reporting...
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Washington, D.C. — The Commodity Futures Trading Commission today announced approval of final rules to amend its large trading reporting regulations for futures and options. These regulations require futures commission merchants, clearing members, foreign brokers, and certain reporting markets (reporting firms) to report to the Commission position information for the largest futures and options traders.The final rules replace the data elements currently enumerated in the CFTC’s regulations with an appendix specifying applicable data elements. The final rules also provide...
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Commodity Futures Trading Commission Chairman Rostin Behnam has announced that the Commission will hold an open meeting on Monday, April 29, at 9:30 a.m. (EDT) at the CFTC’s Washington, D.C. headquarters. The meeting will be open to the public, with options for attending in person, listening by phone, or viewing a live stream at CFTC.gov.During the meeting, Behnam stated, "The Commission will consider the following." Participants can access the live meeting feed by using the provided dial-in numbers or by streaming it on CFTC.gov. Behnam also emphasized the importance of...
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Commissioner Christy Goldsmith Romero is set to take part in a significant event focusing on derivatives and climate. The Commissioner's participation in the upcoming roundtable hosted by the MSCI Sustainability Institute underscores the importance of discussing these critical issues.The event is scheduled to take place on Monday, April 29, 2024, from 9:00 a.m. to 12:00 p.m. (London/GMT) and 4:00 a.m. to 7:00 a.m. (USA/EDT) virtually at MSCI London, 10 Bishops Square, London E1 6EG.According to a press release, Commissioner Christy Goldsmith Romero will be contributing...
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Chairman Rostin Behnam is set to engage in a fireside chat at Syracuse University & Alumni Night in D.C. The event is scheduled for Friday, April 26, 2024, from 5:00 p.m. to 7:00 p.m. (ET) at Morgan, Lewis & Bockius, located at 1111 Pennsylvania Avenue, NW, Washington, DC 20004.The fireside chat will provide an opportunity for Chairman Behnam to share insights and engage with the Syracuse University community and alumni in attendance. The event promises to be an Evening of Celebration in D.C., bringing together individuals with a shared connection to the university.This...
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Washington, D.C. — The Commodity Futures Trading Commission has announced the cancellation of its Open Meeting scheduled for Monday, April 29, 2024. The decision was made as the matters under consideration are being resolved through the Commission’s seriatim process.This announcement was made by the Commission itself, stating, "The Commodity Futures Trading Commission Open Meeting scheduled for Monday, April 29, 2024 has been cancelled." Additionally, it was clarified that "The matters under consideration are being resolved through the Commission’s seriatim process."The...
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A former resident of Miami, Florida, Darren Robinson, and his firm The QYU Holdings Inc. (QYUHI) have been ordered by a federal court to pay over $11 million for engaging in a fraudulent foreign currency (forex) scheme. Judge Linda V. Parker of the U.S. District Court for the Eastern District of Michigan issued an order of default judgment and a permanent injunction against Robinson and QYUHI.The order bans Robinson and QYUHI from trading in any CFTC-regulated markets and registering with the CFTC. It also requires them to pay $5,923,515.37 in restitution to defrauded...
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Commissioner Kristin N. Johnson delivered opening remarks at the FIA L&C Panel on the future-proofing of financial markets through AI and derivatives markets on April 25, 2024. In her address, she emphasized the transformative potential of innovations like generative AI, stating, "Innovations such as generative AI have the power and the potential to alter many aspects of our markets and lives."Johnson highlighted the importance of policing derivatives markets, a cornerstone of the CFTC's mission, and advocated for heightened penalties for the misuse of AI in activities...
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Commissioner Summer K. Mersinger has been announced as a participant in the Commodities/End-User Panel at FIA’s Law and Compliance Division Conference. The event is scheduled to take place on Thursday, April 25, 2024, from 3:45 p.m. to 4:45 p.m. (EDT) at the Gaylord National Resort & Convention Center in National Harbor, MD 20745.The panel discussion is anticipated to be a significant aspect of the conference, focusing on commodities and end-user perspectives in the industry. Commissioner Mersinger's involvement is expected to bring valuable insights and expertise to the...
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A federal court has ordered a California-based precious metals company, its CEO, and a senior salesperson to pay over $56 million for fraud in connection with precious metals sales. The order, entered by Judge R. Gary Klausner of the U.S. District Court for the Central District of California, requires the defendants to pay restitution, disgorgement, and civil monetary penalties totaling $56.35 million.According to the Commodity Futures Trading Commission (CFTC), the defendants engaged in a fraudulent scheme from November 2019 to June 2022, convincing at least 950 people...
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Washington, D.C. — Commissioner Christy Goldsmith Romero has announced that "AI Day" will be held at the Commodity Futures Trading Commission’s Technology Advisory Committee (TAC) meeting on May 2, 2024. The event will take place at the CFTC’s Washington, D.C. headquarters from 1:00 p.m. to 4:00 p.m. (EDT).According to Commissioner Romero, "AI Day is a continuation of the TAC’s study of AI, and the concept of Responsible AI in financial markets." The public is invited to attend the event in person or watch it via live webcast on CFTC.gov.Confirmed speakers for AI Day...
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Commissioner Christy Goldsmith Romero is set to participate in a panel discussion at FIA's Law & Compliance Conference. The panel, titled "AI and Machine Learning: The Unknown Future Rolls Towards Us," will take place on Wednesday, April 24, 2024, from 2:45 p.m. to 3:45 p.m. (EDT) at the Gaylord National Resort & Convention Center in National Harbor, MD.The event aims to delve into the implications of artificial intelligence and machine learning in the legal and compliance sectors. Commissioner Goldsmith Romero's participation underscores the importance of addressing the...
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Washington, D.C. — The Commodity Futures Trading Commission (CFTC) approved final rules to amend its swap execution facility (SEF) regulations related to uncleared swap confirmations to address issues which have been addressed in CFTC staff no-action letters, including the most recent CFTC No Action Letter No. 17-17, as well as associated conforming and technical changes. The final rules are effective 30 days after publication in the Federal Register. Upon the effective date of the final rules, CFTC No Action Letter No. 17-17 will expire.
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Washington, D.C. — Commodity Futures Trading Commission Chairman Rostin Behnam has announced that "The Commission will hold an open meeting on Monday, April 29 at 9:30 a.m. (EDT) at the CFTC’s Washington, D.C. headquarters." The meeting will take place at the CFTC Headquarters Conference Center located at Three Lafayette Centre, 1155 21st Street N.W., Washington, D.C. 20581.The public is invited to attend the meeting in person, listen by phone, or view a live stream at CFTC.gov. Those interested in participating virtually can access the live meeting feed through dial-in...