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Commentary by Steven Lofchie

CFTC Chair J. Christopher Giancarlo urged the CFTC and other market regulators to adapt to modern digital markets and transform themselves into quantitative-driven agencies. In an address at FinTech Week, Mr. Giancarlo urged the CFTC to improve its response to the increasing centrality of data in market activity with more up-to-date quantitative data analytics capabilities. He highlighted the following key themes: (i) the central role of data, (ii) the importance of automated data analysis and (iii) the use of machine learning to increase effectiveness. He clarified that being a "quantitative

Commentary by Bob Zwirb

CFTC Commissioner Rostin Behnam called on the agency to consider new initiatives to deal with the role of technology within the scope of CFTC regulatory and supervisory structures. In remarks at the ASIFMA 2018 Conference, Mr. Behnam asserted that regulation creates "necessary friction" during the development stages of innovation to guarantee that processes and products satisfy established standards before being introduced to the public and financial networks. He criticized the United States' regulatory FinTech agenda for being overly enforcement-driven, saying that enforcement actions do not