FACACLASSIC

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

GENERAL INFORMATION

Committee Name	Technology Advisory Committee	Agency Name	Commodity Futures Trading Commission
Fiscal Year	2025	Committee Number	5305
Original Establishment Date	11/12/1999	Committee Status	Chartered
Actual Termination Date		Committee URL	http://www.cftc.gov/About/CFTCCommittees/Techno...
Actual Merged Date		Presidential Appointments*	No
New Committee This FY	No	Max Number of Members*	40
Terminated This FY	No	Designated Fed Officer Position Title*	Trial Attorney, DOE
Merged This FY		Designated Federal Officer Prefix	Mr.
Current Charter Date	8/30/2024	Designated Federal Officer First Name*	Tony
Date Of Renewal Charter	8/30/2026	Designated Federal Officer Middle Name
Projected Termination Date		Designated Federal Officer Last Name*	Biagioli
Exempt From Renewal*	No	Designated Federal Officer Suffix
Specific Termination Authority		Designated Federal Officer Phone*	(816) 656-6671
Establishment Authority*	Agency Authority	Designated Federal Officer Fax*
Specific Establishment Authority*	Commission vote	Designated Federal Officer Email*	abiagioli@cftc.gov
Effective Date Of Authority*	11/12/1999
Exempt From EO 13875 Discretionary Cmte	Not Applicable
Committee Type*	Continuing
Presidential*	No
Committee Function*	Non Scientific Program Advisory Board

RECOMMENDATION/JUSTIFICATIONS

Agency Recommendation*	Continue
Legislation to Terminate Required	Not Applicable
Legislation Status	Not Applicable
How does cmte accomplish its purpose?*	The TAC accomplishes its purpose by providing advice and recommendations to the Commission. The TAC assists the Commission with identifying and understanding the impact and implications of technological innovation in the financial services and markets. The TAC will also continue to accomplish its purpose by providing advice on 1) the application and utilization of new technologies in financial services, derivatives, and commodity markets, as well as by market professionals and market users; 2) the appropriate level of investment in technology at the Commission to meet its surveillance and enforcement responsibilities; and 3) technology-related issues to support the Commission’s mission of ensuring the integrity of the markets and achievement of other public interest objectives. The TAC is currently exploring timely areas of technological innovation through its three substantive subcommittees: Digital Assets and Blockchain Technology; Cybersecurity; and Emerging and Evolving Technologies.
How is membership balanced?*	The Commission has continued 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 TAC as well as subcommittee topics relevant and timely. In 2024, the TAC held formal meetings on January 8, 2024, and May 2, 2024.
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, cybersecurity innovations and evolution in approaches to cyber threats, and Artificial Intelligence / Machine Learning. 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

PERFORMANCE MEASURES

Outcome Improvement To Health Or Safety*	No	Action Reorganize Priorities*	No
Outcome Trust In Government	Yes	Action Reallocate Resources	No
Outcome Major Policy Changes	No	Action Issued New Regulations	No
Outcome Advance In Scientific Research	No	Action Proposed Legislation	No
Outcome Effective Grant Making	No	Action Approved Grants Or Other Payments	No
Outcome Improved Service Delivery	No	Action Other	No
Outcome Increased Customer Satisfaction	No	Action Comment	N/A
Outcome Implement Laws/Reg Requirements	Yes	Grants Review*	No
Outcome Other	Yes	Number Of Grants Reviewed	0
Outcome Comment	The TAC assists the Commission with identifying and understanding and by providing advice on the impact and implications of technological innovation in the financial services and 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 Recommended	0
Cost Savings*	Unable to Determine	Dollar Value Of Grants Recommended	$0.00
Cost Savings Comment	N/A	Grants Review Comment	N/A
Number Of Recommendations*	11	Access Contact Designated Fed. Officer*	No
Number Of Recommendations Comment	Recommendations relating to artificial intelligence (AI): (1) host public forums and engage in outreach to registrants regarding AI; (2) consider adoption of AI risk management framework; (3) inventory existing regulations relating to AI and conduct gap analysis for potential guidance or rulemaking; (4) attempt to align AI policies and practices with other agencies; (5) work toward engaging staff as observers and potential participants in ongoing domestic and international dialogues regarding AI. Recommendations relating to Decentralized Finance (DeFi): (1) engage in resource assessment, data gathering, and mapping relating to DeFi; (2) survey existing regulatory perimeter relating to DeFi; (3) engage in risk identification, assessment, and prioritization relating to DeFi; (4) identify and evaluate range of potential policy responses; (5) foster greater engagement and collaboration with domestic and international standard setters, regulatory efforts, and DeFi builders; and (6) apply recommended framework to drive near-term, prioritized progress on digital identity, “know your customer” (KYC) and anti-money laundering (AML) regimes, and calibration on privacy in DeFi.	Access Agency Website	Yes
% of Recs Fully Implemented*	36.40%	Access Committee Website	No
% of Recs Fully Implemented Comment	Four of five recommendations relating to AI implemented.	Access GSA FACA Website	Yes
% of Recs Partially Implemented*	0.00%	Access Publications	No
% of Recs Partially Implemented Comment	N/A	Access Other	No
Agency Feedback*	No	Access Comment	N/A
Agency Feedback Comment*	Not applicable	Narrative 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 and by providing advice on the impact and implications of technological innovation in the financial services and markets.

COSTS

1. Payments to Non-Federal Members*		1. Est Paymnts to Non-Fed Membrs Nxt FY*
2. Payments to Federal Members*		2. Est. Payments to Fed Members Next FY*
3. Payments to Federal Staff*		3. Estimated Payments to Federal Staff*
4. Payments to Consultants*		4. Est. Payments to Consultants Next FY*
5. Travel Reimb. For Non-Federal Membrs*		5. Est Travel Reimb Non-Fed Membr nxtFY*
6. Travel Reimb. For Federal Members*		6. Est Travel Reimb For Fed Members*
7. Travel Reimb. For Federal Staff*		7. Est. Travel Reimb to Fed Staf Nxt FY*
8. Travel Reimb. For Consultants*		8. Est Travel Reimb to Consltnts Nxt FY*
10. Other Costs		10. Est. Other Costs Next FY*
11. Total Costs	$0.00	11. Est. Total Next FY*	$0.00
Date Cost Last Modified	2/19/2025 10:42 AM	Est. Fed Staff Support Next FY*
Federal Staff Support (FTE)*		Est Cost Remarks
Cost Remarks

Interest Areas

Category Area Computer Technology Technology Finance Finance Legislation Regulations

Custom Links

Committee Level Reports