Comment Text:
I think this regulation is necessary given the technical advances in our modern society. I agree with Chairman, Timothy Massad that it is the role of the CFTC to ensure that the markets continue to function with integrity. It is necessary to implement regulations to adapt to the automated trading industry to protect consumers and traders in the same way that prior regulations have protected consumers and traders from floor traders practices. The role of government and in particular, the role of the administrative state, is to continue to fill in the gaps that are either left open by Congress, or that emerge given changes in technology or society in our continually changing world. It is imperative that the CFTC continue to protect the interests of the American people and the market's integrity by changing rules and regulations to adapt to the changing market. Furthermore, it is for reasons of efficiency and expertise that the CFTC continue to act in this role (as compared to requiring Congress to exclusively develop legislature that covers the entirety of an area-- firstly, it will not happen because of politics; secondly, Congress does not have time nor the expertise to properly fill in all the gaps or to change laws as regularly as an administrative body does as mandated by society).
