Comment Text:
I am writing to express my strong support for LabCFTC to move forward with science prize competitions, and to suggest three potential topics for competitions. The CFTC has brought strong leadership to the challenge of using new technology to modernize financial regulation to make it both more effective and efficient. I wish to applaud the Commission for considering prize competitions under the Science Prize Competition Act as part of this effort and for seeking public input on how to promote technology-based regulatory innovation.
At the same time, I would like to see LabCFTC invested with even greater freedom and flexibility to experiment and innovate on behalf of the American people.
My observations reflect lessons I learned first-hand, initially from working as a senior public official at the U.S. Commodity Futures Trading Commission responsible for advising Chairman J. Christopher Giancarlo on FinTech policy, the launch of LabCFTC and promoting innovation, and more recently since returning to the private sector working directly with innovators in the derivatives markets and with blockchain, FinTech and RegTech businesses.
Please see the attached PDF document for my detailed comments.
Thank you for the opportunity to comment on this important initiative.
Respectfully,
Jeff Bandman
