WASHINGTON May 15 The acting head of the U.S.
derivatives regulator will make a major announcement about
financial technology, commonly called fintech, on Wednesday at
the New York Stock Exchange, according to an announcement posted
J. Christopher Giancarlo, the acting chairman of the
Commodity Futures Trading Commission, ordered a review in
January of fintech and what the commission's role should be in
regulating the fast-developing sector. A Republican whom
President Donald Trump has nominated to permanently lead the
commission, Giancarlo has said the CFTC should modernize its own
systems, while also keeping regulation simple.
Still, carrying out his goals may prove difficult in the
short term. The only other person currently sitting on the
commission, Sharon Bowen, is a Democrat.
(Reporting by Lisa Lambert; Editing by Jonathan Oatis)