Sharon Brown-Hruska Appointed to Chair CFTC’s Technology Advisory Committee
Washington, D.C. – The Commodity Futures Trading Commission (CFTC) has appointed Commissioner Sharon Brown-Hruska to serve as Chairman and Designated Federal Official of its Technology Advisory Committee (TAC).
TAC was created by the Commission in October 1999 to obtain input on emerging technologies, the impact of technology on financial services and commodity markets, and the appropriate legislative or regulatory response to increasing use of technology in the markets. TAC members represent electronic markets, electronic communication systems, U.S. designated contract markets, self-regulatory organizations, financial intermediaries, market users, and traders.
Commissioner Brown-Hruska takes over the TAC chair from Commissioner Thomas J. Erickson who chaired this committee from February 14, 2001, until he resigned from the Commission on December 1, 2003. In announcing this appointment, CFTC Chairman James E. Newsome stated, “Since its creation, the Commission has benefited immensely from the efforts of the TAC and I expect the Commission to continue to benefit from the TAC’s deliberations under the leadership of Commissioner Brown-Hruska.”
In accepting her appointment, Commissioner Brown-Hruska commented, “Even as information technology has proliferated in use and importance in our industry, regulators must grapple with the impact of the change it enables and the inherent uncertainty such change creates. As Technology Advisory Committee Chairman, I look forward to working with the members of the Committee to explore the issues raised by the changes and opportunities made possible by advances in technology, thus providing the Commission with guidance and potential responses to those issues.”
The complete text of Commissioner Brown-Hruska’s comments is attached.
For further information concerning this committee, please contact the Commission’s Office of External Affairs, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street, N.W., Washington, D.C. 20581, (202) 418-5080.
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