At a CFTC conference titled Fintech Forward, Chair
Heath P. Tarbert stated that LabCFTC will now operate as an
independent office of the agency. The move is intended to
communicate the importance the CFTC places on fostering innovation
and making the CFTC more accessible to innovators and the
public.
As previously covered, LabCFTC was designed to
(i) "promot[e] responsible FinTech innovation to improve the
quality, resiliency, and competitiveness of the markets the CFTC
oversees," (ii) address the regulatory challenges of
increasingly automated trading and (iii) foster a regulatory
environment more receptive to emerging FinTech companies.
At the conference, LabCFTC released a primer on emerging artificial
intelligence ("AI") and FinTech innovations (the
"Primer") for market participants. The Primer explains,
among other things, (i) the definition of AI, (ii) how it relates
to the CFTC and (iii) future developments for AI. The CFTC also
underscored that CFTC
