Giancarlo Signals Reform Agenda as CFTC Chairman

J. Christopher Giancarlo, the new acting chairman of U.S. Commodity Futures Trading Commission (CFTC), outlined a new set of priorities for the agency, as well as an agenda of actions in a speech on January 18th, according to a CryptoCoins article.

Giancarlo called upon CFTC to "encourage distributed ledger technology (DLT) and financial (fintech) innovation," which has proven beneficial in managing large operational, capital, and transactional complexities brought by Dodd-Frank. He noted though that these efforts must be matched by a modernizing of CFTC's regulatory framework that needs to "catch up to 21st Century digital markets."

Giancarlo also discussed the impending March 1st variation margin deadline on uncleared swaps. The Commissioner acknowledged that many market participants were struggling to comply with the new rules and that without remedy or regulatory reprieve, many would be left unable to trade.

In noting that Australia, Hong Kong, and Singapore had been granted a six-month transition period in applying the margin rules, Giancarlo indicated that a similar approach would be "well considered" and that under his leadership the CFTC would be open to a shift.

For a broader look at the landscape of major decision makers, who are likely to have an impact on the structured finance market in 2017, check out SFIG's Key Policymaker Tracker here.

If you have any questions regarding the tracker or its content, please contact Rob Robilliard at

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