CFTC Chair Behnam Highlights Priorities in the Midst of "Transformative Change"

CFTC Chair Rostin Behnam promised to "exercise utmost care, patience, and diligence" to address the "transformative change throughout our industry and the markets we oversee."

In testimony before the U.S. House of Representatives Committee on Agriculture, Mr. Behnam highlighted CFTC priorities, which include:

• improving the stress testing program to ensure resilience in absorbing market and systemic shocks in light of the global pandemic and crisis in Ukraine;
• working with international counterparts to create a cohesive cross-border regulatory framework;
• continuing to evaluate LIBOR risks;
• promoting confidence in the U.S. derivatives market by holding individuals and institutions accountable;
• addressing potential cyberattacks;
• accelerating the migration to cloud technologies; and
• monitoring emerging digital asset markets for risks and for fraud and manipulation.