On October 24, the Commodity Futures Trading Commission (CFTC) joined the Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and the Securities and Exchange Commission in announcing that it will be joining the Global Financial Innovation Network (GFIN). The GFIN was formed to establish a framework for cooperation among financial services regulators on innovation-related topics and a vehicle for sharing different experiences and approaches. It also seeks to provide a more efficient way for innovative firms to interact with regulators and navigate among jurisdictions as they look to scale new ideas.
The CFTC and other US financial regulators have proactively sought to enhance regulatory clarity and understanding for all stakeholders and identify emerging regulatory challenges and risks. The CFTC’s participation in the GFIN furthers these objectives, aligns with the CFTC’s regulatory agenda and advances financial and market integrity in the United States and abroad.
The CFTC, along with the other agencies mentioned, join 46 other GFIN members from around the globe, working to facilitate greater collaboration and cooperation among financial authorities.