Ted Kaouk, the agency’s chief AI and data officer, said the derivatives regulator is undergoing a “significant” overhaul of its oversight capabilities thanks to the emerging technology.
From left, Federal Reserve Chairman Jerome Powell, Treasury Secretary Janet Yellen and SEC Chairman Gary Gensler participate in a meeting of the Financial Stability Oversight Council at the U.S. Treasury on July 28, 2023 in Washington, D.C. (Photo by Kevin Dietsch/Getty Images)
SEC and CFTC oversight of how investment vehicles use AI to inform trading decisions is lacking and poses risks to market stability, a report from the majority…
File photograph dated May 6, 2010 shows traders on the floor of the New York Stock Exchange looking at stocks during the final minutes of trading during the Wall Street “flash crash”, which was prompted by one firm’s algorithm selling off 75,000 stocks in 20 minutes, according to a joint report by the Securities and Exchange Commission (SEC) and the US Commodity Futures Trading Commission (CFTC). TIMOTHY A. CLARY/AFP via Getty Images)
The House Financial Services Committee's leadership is pushing legislation to standardize data at eight agencies, paving the way for RegTech and AI apps.
