On May 2, 2024 the CFTC's Technology Advisory Committee, sponsored by Commissioner Christy Goldsmith Romero, adopted a report by its Subcommittee on Emerging and Evolving Technologies on responsible AI in financial markets. It made five recommendations: host public roundtables and outreach with registrants; consider adopting a sector AI Risk Management Framework aligned with NIST, potentially via a proposed rule; inventory existing AI-relevant regulations and run a gap analysis; align AI policy with the SEC, Treasury, and other agencies; and build CFTC staff AI expertise and budget. Responsible AI is defined around fairness, robustness, transparency, explainability, and privacy.
| Document | CFTC TAC Responsible AI Report — Responsible Artificial Intelligence in Financial Markets: Opportunities, Risks & Recommendations |
| Issued by | Commodity Futures Trading Commission |
| Type | Report |
| Status | Final |
| Published | May 2, 2024 |
| Applies to | Advisory recommendations to the Commission; relevant to all CFTC-registered entities |
| Official source | cftc.gov ↗ |
| Use cases | AI governance (general) · Model risk management · Trading & capital markets |
What are the key points of CFTC TAC Responsible AI Report?
- Recommendation One: public roundtable and direct outreach on humans-in-or-around-the-loop, acceptable training-data uses, and best practices
- Recommendation Two: consider a sector AI Risk Management Framework consistent with NIST, with a potential proposed rule as the deliverable
- Recommendation Three: inventory existing regulations touching AI and conduct a gap analysis, leading to clarifying staff guidance or rulemaking
- Recommendation Four: align AI policies with the SEC, Treasury, and other financial-stability agencies
- Recommendation Five: engage staff in domestic and international AI dialogues and fund internal technical capacity
- Reviews US and global AI policy including Executive Order 14110, the NIST AI RMF, and the EU AI Act
- Cited by the December 2024 staff advisory as one of its inputs
What did CFTC TAC Responsible AI Report change for banks?
The report is the closest the CFTC has come to a roadmap for AI rulemaking. Its NIST-anchored framework recommendation gives bank derivatives businesses a preview of what a future CFTC AI rule would likely look like, and Recommendation Three was effectively delivered by the December 2024 staff advisory.
Did the CFTC adopt the TAC's NIST-based AI framework?
Not as a rule. The Commission has taken no rulemaking on AI as of August 2026; the December 2024 staff advisory mapped existing rules to AI instead, and the 2026 Innovation Task Force is now drafting a framework for AI and autonomous systems.
Who wrote the report?
The Subcommittee on Emerging and Evolving Technologies of the CFTC Technology Advisory Committee, which was sponsored by Commissioner Christy Goldsmith Romero. The TAC voted to advance it on May 2, 2024, billed as the committee's 'AI Day.'
| Date | Document | Status |
|---|---|---|
| Aug 19, 2026 | CFTC Compute Derivatives RFC — Request for Comment on the Listing of Compute Derivatives Contracts | Comment period open |
| Mar 24, 2026 | CFTC Innovation Task Force — Chairman Selig Announces Formation of New Innovation Task Force | In force |
| Jun 18, 2025 | Johnson RegHub Summit Remarks (Jun 2025) — Keynote Remarks of Commissioner Kristin N. Johnson at RegHub Summit London 2025: Enabling AI Tools To Enhance Compliance and Surveillance | Final |
| Dec 5, 2024 | CFTC Staff Advisory 24-17 on AI — Staff Advisory on the Use of Artificial Intelligence in CFTC-Regulated Markets (CFTC Letter No. 24-17) | In force |
| Dec 5, 2024 | Johnson Statement on AI in Derivatives Markets (Dec 2024) — Statement of Commissioner Kristin N. Johnson on Future-Proofing Financial Markets: Assessing the Integration of Artificial Intelligence in Global Derivatives Markets | Final |
| Jan 25, 2024 | CFTC AI Scams Customer Advisory — Customer Advisory: AI Won't Turn Trading Bots into Money Machines | In force |
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