CFTC Commissioner Christy Goldsmith Romero warned regulators of the danger of regulatory complacency and not to rollback critical Dodd-Frank post-crisis reforms. She highlighted the need for vigilant management of emerging risks in the cryptocurrency industry and as to the deployment of artificial intelligence in financial services.
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In an annual report, the SEC Division of Examinations identified current risks for investors and registrants and highlighted key areas for examination in 2024.
SEC Commissioner Mark T. Uyeda touted the benefits of new technologies for markets, investors and regulators. He argued that "[j]ust because something is new does not mean that regulators should fear it and preclude financial institutions from utilizing it."
The SEC added 20 new positions to the Division of Enforcements Crypto Assets and Cyber Unit. The Unit combats fraud and other abuses in crypto markets.
SEC Commissioner Hester M. Peirce pressed regulators to allow innovators greater market freedom, stating that "regulation needs to leave room for experimentation, tinkering, and, yes, failure."