The Board of Governors of the Federal Reserve adopted new operational risk management requirements for systemically important designated clearing organizations.
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The CFTC extended the comment period until April 1, 2024, for a proposed rule that would require that futures commission merchants and swap dealers establish and maintain an "Operational Resilience Framework."
CFTC Commissioner Kristin N. Johnson defended the CFTC's "efforts to advance inquiries regarding the integration of AI in our markets and to explore the need to introduce guardrails to mitigate the risks that AI technologies may present."
The New York State Department of Financial Services proposed guidance on the use of "artificial intelligence systems and external consumer data and information sources in insurance underwriting and pricing."
In a new Report, a CFTC Technology Advisory Subcommittee described the "promising opportunities and complex, significant risks to the U.S. financial system, consumers, and national security" associated with decentralized finance and generative artificial intelligence.