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ARTICLE · 27 JUNE 2019

CFTC Inspector General Urges Agency To Address Deficiencies In Data Governance Program

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The CFTC Office of the Inspector General highlighted deficiencies in the agency's Data Governance program and advised the CFTC to improve its Integrated Surveillance System platform or transfer to a better platform.

United StatesFinance and Banking
Hogan Lovells Cadwalader
Hogan Lovells Cadwalader
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The CFTC Office of the Inspector General ("OIG") highlighted deficiencies in the agency's Data Governance program and advised the CFTC to improve its Integrated Surveillance System ("ISS") platform or transfer to a better platform.

In its report, the OIG acknowledged that the program is working toward an "improved Data Governance framework with benchmark attributes," but currently "shows declining usefulness to CFTC operations." Specifically, the OIG found that (i) the program's ISS data collection and maintenance procedures are costly and subject to errors, and (ii) ISS database application does not meet certain cybersecurity standards and is, therefore, a target to hackers.

The OIG advised the CFTC to:

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