CFTC Acting Chair Giancarlo Testifies at Nomination Hearing

CFTC Acting Chair J. Christopher Giancarlo testified before the U.S. Senate Committee on Agriculture, Nutrition, and Forestry ("Committee") in a hearing convened to consider his nomination for CFTC Chair. In his statement, the Acting Chair outlined three major regulatory priorities:

• Market health: Mr. Giancarlo affirmed his commitment to "foster[ing] open, transparent, competitive, and financially sound markets" and asserted that he had already begun the process of devoting more resources to ensuring the efficient enforcement of rules and regulations.
• Economic growth: Mr. Giancarlo stated that the CFTC must work to keep up with a constantly evolving technological landscape, and highlighted the LabCFTC initiative as one of the ways in which the CFTC seeks to stay current and adapt to emerging technologies. Mr. Giancarlo noted that effective regulation of derivatives clearinghouses will be a future point of emphasis for the CFTC.