Release Number 7653-17
November 30, 2017
LabCFTC Director Featured in Georgetown University Law Center’s Issue Brief on Fintech Innovation
Daniel Gorfine Outlines Details of CFTC Thinking on Fintech Innovation
Washington, DC — Daniel Gorfine, Director of the Commodity Futures Trading Commission’s LabCFTC, is featured in the latest issue of Georgetown University Law Center’s Institute of International Economic Law (IIEL) Issue Brief. Gorfine outlines details of the CFTC’s thinking and the role of LabCFTC, along with a model or blueprint regarding regulatory engagement with fintech innovation. Readers also learn details surrounding a number of current and forthcoming LabCFTC projects to build a modern 21st century financial regulator.
The Issue Brief describes the fintech landscape and provides a comprehensive overview of the characteristics of fintech innovation, which covers broad swaths of financial services and markets -- ranging from capital markets, trading, and market infrastructure to retail banking and wealth management. It then highlights emerging opportunities and challenges, as well as various regulatory approaches to facilitating market-enhancing innovation.
Gorfine, who is also CFTC’s Chief Innovation Officer, observes that ultimately, the blueprint outlined is our starting point, but as with all innovative efforts, we intend to learn and iterate – including through engagement with innovators, market participants, and regulatory stakeholders – in order to best accomplish our regulatory goals.
Daniel Gorfine was appointed LabCFTC Director and Chief Innovation Officer in July 2017. He is responsible for engaging with innovators and market participants, as well as coordinating closely with international regulatory bodies, other US regulators, and Capitol Hill, in order to help develop digital and agile regulatory approaches for the CFTC. LabCFTC is an initiative, launched in May this year, aimed at promoting market-enhancing fintech innovation to improve the quality, resiliency, and competitiveness of the markets the CFTC oversees.
Last Updated: November 30, 2017