CFTC Acting Chair J. Christopher Giancarlo appointed Erica Elliott Richardson to be the new Director of the Office of Public Affairs. Outgoing Director Steven W. Adamske will become a policy advisor for Commissioner Sharon Bowen.
CFTC Commissioner Sharon Y. Bowen identified "four disruptive elements" that are "substantially responsible" for recent regulatory activity: technology, demographics, economics and a lack of trust in our institutions.
The CFTC approved a supplemental proposal to Regulation Automated Trading. The revised proposal lowers the threshold for registration for algorithmic trading firms and allows the CFTC to obtain access to their source code.