CFTC Chairman Provides Guidance On Cybersecurity

On November 5, 2014, the Chairman of the Commodity Futures Trading Commission, Timothy G. Massad, gave keynote remarks at the Futures Industry Association Expo 2014.

Part of Chairman Massad's remarks focused on the importance and oversight of cybersecurity and business continuity disaster recovery for the financial institutions, exchanges, and markets that the Commission regulates. Specifically, Chairman Massad discussed the fact that the Commission's system safeguards require that the entities the Commission regulates have four important components:

1. A program of risk analysis and oversight to identify and minimize sources of cyber and operational risk;
2. Automated systems that are reliable, secure, and have adequate scalable capacity;