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Committee Detail

Note: An Annual Comprehensive Review, as required by §7 of the Federal Advisory Committee Act, is conducted each year on committee data entered for the previous fiscal year (referred to as the reporting year). The data for the reporting year is not considered verified until this review is complete and the data is moved to history for an agency/department. See the Data From Previous Years section at the bottom of this page for the committee’s historical, verified data.

Details on agency responses to committee recommendations can be found under the Performance Measures section for each committee in the fields “Agency Feedback” and “Agency Feedback Comment.”


CFTC - 5305 - Technology Advisory Committee - Agency Authority
Hide Section - GENERAL INFORMATION

GENERAL INFORMATION

Committee NameTechnology Advisory CommitteeAgency NameCommodity Futures Trading Commission
Fiscal Year2022Committee Number5305
Original Establishment Date11/12/1999Committee StatusChartered
Actual Termination Date Committee URLhttp://www.cftc.gov/About/CFTCCommittees/Techno...
New Committee This FYNoPresidential Appointments*No
Terminated This FYNoMax Number of Members*40
Current Charter Date9/12/2022Designated Fed Officer Position Title*Trial Attorney, DOE
Date Of Renewal Charter9/12/2024Designated Federal Officer PrefixMr.
Projected Termination Date Designated Federal Officer First Name*Tony
Exempt From Renewal*NoDesignated Federal Officer Middle Name
Specific Termination AuthorityDesignated Federal Officer Last Name*Biagioli
Establishment Authority*Agency AuthorityDesignated Federal Officer Suffix
Specific Establishment Authority*Commission voteDesignated Federal Officer Phone*(816) 656-6671
Effective Date Of Authority*11/12/1999Designated Federal Officer Fax*
Exempt From EO 13875 Discretionary CmteNot ApplicableDesignated Federal Officer Email*abiagioli@cftc.gov
Committee Type*Continuing
Presidential*No
Committee Function*Non Scientific Program Advisory Board
Hide Section - RECOMMENDATION/JUSTIFICATIONS

RECOMMENDATION/JUSTIFICATIONS

Agency Recommendation*Continue
Legislation to Terminate RequiredNot Applicable
Legislation StatusNot Applicable
How does cmte accomplish its purpose?*The TAC conducts public meetings, submits reports and recommendations to the Commission, and otherwise assists the Commission with identifying and understanding the impact and implications of technological innovation in the financial services and commodity markets. The TAC will continue to accomplish this purpose by providing advice on 1) the application and utilization of new technologies in the financial services and commodity markets and by market professionals and users; 2) the appropriate level of investment in technology at the Commission to meet its surveillance and enforcement responsibilities; and 3) the need for strategies to implement rules and regulations to support the Commission's mission of facilitating market-enhancing innovation and ensuring the integrity of the markets. Historically, the TAC has explored timely areas of technological innovation through its four substantive subcommittees: Virtual Currencies, Distributed Ledger and Market Infrastructure, Cybersecurity, and Automated and Modern Trading Markets. Focused work has historically generated actionable feedback and recommendations.
How is membership balanced?*The Commission will continue to keep the TAC’s membership balanced by appointing members representing a wide array of backgrounds, including those who represent (i) Market Participants in the derivatives and commodities markets; (ii) Financial Technology Providers; (iii) Market Infrastructure Firms, like exchanges and clearinghouses; (iv) Other segments of the derivatives and commodities industries; (v) Regulatory Organizations, which may include Self-Regulatory Organizations; (vi) Academia; and (vii) Think Tanks and Public Interest Groups.
How frequent & relevant are cmte mtgs?*The TAC has historically attempted to meet two to three times a year. The Commission has relied upon and benefited from the advice and recommendations of the TAC members. TAC members have diverse backgrounds in technology issues that keep subcommittee topics relevant and timely.
Why advice can't be obtained elsewhere?*Developments in technology impact the markets regulated by the CFTC and the regulatory choices made by the agency. Recent innovations that may significantly impact our markets include BlockChain, Distributed Ledger Technology (DLT), Virtual Currencies, Artificial Intelligence / Machine Learning, and Cloud Computing. The TAC allows the Commission to be an active participant in market innovation, the TAC encourages the Commission to explore the appropriate investment in technology, and the TAC advises the Commission on the need for strategies to implement rules and regulations to support the Commission's mission of facilitating market-enhancing innovation and ensuring the integrity of the markets. By leveraging the expertise of the TAC Members and their particularized knowledge, the Commission can keep pace with rapidly developing technologies and business models in order to ensure open, transparent, competitive, and financially sound markets.
Why close or partially close meetings?N/A
Recommendation Remarks
Hide Section - PERFORMANCE MEASURES

PERFORMANCE MEASURES

Outcome Improvement To Health Or Safety*NoAction Reorganize Priorities*No
Outcome Trust In GovernmentYesAction Reallocate ResourcesNo
Outcome Major Policy ChangesNoAction Issued New RegulationsNo
Outcome Advance In Scientific ResearchNoAction Proposed LegislationNo
Outcome Effective Grant MakingNoAction Approved Grants Or Other PaymentsNo
Outcome Improved Service DeliveryNoAction OtherNo
Outcome Increased Customer SatisfactionNoAction Comment
Outcome Implement Laws/Reg RequirementsYesGrants Review*No
Outcome OtherYesNumber Of Grants Reviewed0
Outcome CommentThe TAC assists the Commission with identifying and understanding the impact and implications of technological innovation in the financial services and commodity markets, and also contributes to pending rulemakings, appropriate regulatory approaches, and policy considerations within the Commission. Historically, the TAC's efforts have also helped drive public trust in government given the Agency’s proactive efforts to understand emerging opportunities, risks, and challenges.Number Of Grants Recommended0
Cost Savings*Unable to DetermineDollar Value Of Grants Recommended$0.00
Cost Savings CommentN/AGrants Review CommentN/A
Number Of Recommendations*0Access Contact Designated Fed. Officer*No
Number Of Recommendations CommentN/AAccess Agency WebsiteYes
% of Recs Fully Implemented*0.00%Access Committee WebsiteNo
% of Recs Fully Implemented CommentN/AAccess GSA FACA WebsiteYes
% of Recs Partially Implemented*0.00%Access PublicationsNo
% of Recs Partially Implemented CommentN/AAccess OtherNo
Agency Feedback*NoAccess CommentN/A
Agency Feedback Comment*Not applicableNarrative Description*The Commission's mission is to protect market users and the public from fraud, manipulation, abusive practices and systemic risk related to derivatives that are subject to the Commodity Exchange Act, and to foster responsible innovation and open, competitive, and financially sound markets. The TAC supports this mission and the agency's strategic plan by assisting the Commission with identifying and understanding the impact and implications of technological innovation in the financial services and commodity markets.
Hide Section - COSTS

COSTS

Payments to Non-Federal Members*$0.00Est Payments to Non-Fed Members Next FY*$0.00
Payments to Federal Members*$0.00Est. Payments to Fed Members Next FY*$0.00
Payments to Federal Staff*$23,635.08Estimated Payments to Federal Staff*$155,000.00
Payments to Consultants*$0.00Est. Payments to Consultants Next FY*$0.00
Travel Reimb. For Non-Federal Members*$0.00Est Travel Reimb Non-Fed Members nextFY*$0.00
Travel Reimb. For Federal Members*$0.00Est Travel Reimb For Fed Members*$0.00
Travel Reimb. For Federal Staff*$0.00Est. Travel Reimb to Fed Staff Next FY*$0.00
Travel Reimb. For Consultants*$0.00Est Travel Reimb to Consultants Next FY*$0.00
Other Costs$0.00Est. Other Costs Next FY*$42,610.00
Total Costs$23,635.08Est. Total Next FY*$197,610.00
Date Cost Last Modified11/29/2022 1:18 PMEst. Fed Staff Support Next FY*0.60
Federal Staff Support (FTE)*0.10Est Cost RemarksN/A
Cost RemarksN/A  
Hide Section - Interest Areas

Interest Areas

Category
Area
Computer Technology
Technology
Finance
Finance
Legislation
Regulations
Hide Section - MEMBERS,MEETINGS AND ADVISORY REPORTS

MEMBERS,MEETINGS AND ADVISORY REPORTS

To View all the members, meetings and advisory reports for this committee please click here
Hide Section - CHARTERS AND RELATED DOCS

CHARTERS AND RELATED DOCS

No Documents Found
Hide Section - DATA FROM PREVIOUS YEARS

DATA FROM PREVIOUS YEARS

Committee

Data from Previous Years

 
ActionCommittee System IDCommittee NameFiscal Year
 COM-039001Technology Advisory Committee2021
 COM-037032Technology Advisory Committee2020
 COM-035110Technology Advisory Committee2019
 COM-032635Technology Advisory Committee2018
 COM-001086Technology Advisory Committee2017
 COM-003156Technology Advisory Committee2016
 COM-003234Technology Advisory Committee2015
 COM-005132Technology Advisory Committee2014
 COM-005491Technology Advisory Committee2013
 COM-007399Technology Advisory Committee2012
 COM-007610Technology Advisory Committee2011
 COM-009444Technology Advisory Committee2010
 COM-013211Technology Advisory Committee2006
 COM-013385Technology Advisory Committee2005
 COM-015177Technology Advisory Committee2004
 COM-015316Technology Advisory Committee2003
 COM-017069Technology Advisory Committee2002
 COM-017276Technology Advisory Committee2001
 COM-019052Technology Advisory Committee2000