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Panel raises cybersecurity and data needs for regulators as markets grow more complex
Summary
Witnesses and members told the House Agriculture Committee that the CFTC faces significant cyber threats and needs technical capabilities and staff to monitor markets in real time; some witnesses urged offensive capabilities against state‑sponsored cyber attackers.
WASHINGTON — Committee members and witnesses discussed cybersecurity risks to market infrastructure and the need for stronger data analytics and staff resources at the Commodity Futures Trading Commission.
Former Chairman Christopher Giancarlo said during his tenure the agency faced frequent cyber attacks and recommended stronger technical recruiting and defensive capabilities. He and other witnesses argued regulators should expand data analytics — including big‑data tools — to augment human expertise and provide real‑time surveillance.
One witness urged exploring offensive options against state‑sponsored attackers, citing the scale of intrusions and the economic damage posed by persistent cyber efforts.
Why it matters: Market surveillance and enforcement increasingly depend on large data feeds and cybersecurity protections; witnesses told the committee that recruiting and retaining specialized technical staff is difficult for government agencies and that better tools are needed to spot market abuse and protect systems.
Next steps
Witnesses urged Congress to fund improved analytical tools and staff capacity at the CFTC and related regulators to strengthen oversight and to consider broader cybersecurity posture adjustments for national economic defenses.
