RegFi Episode 38: FUTURES Act and modernization of financial regulations | Orrick, Herrington & Sutcliffe LLP

The FUTURES Act, a bipartisan legislative initiative recently introduced by the House Financial Services Committee as part of a larger financial institutions legislative package, aims to support technological modernization in financial regulatory agencies. In this episode, RegFi co-hosts Jerry Buckley and Sasha Leonhardt discuss the FUTURES Act and how it would address key findings from a pro bono report they co-authored with the Alliance for Innovative Registration (AIR): “The Financial Regulatory Dilemma: Administration and Regulations Obstacles to Innovation.

The conversation highlighted the challenges federal regulators currently face in implementing new technologies, including the cumbersome procurement process and cultural resistance across agencies, and how the proposed regulations seek to overcome these obstacles by mandating comprehensive evaluations of current systems technology and requiring regular reports on improvements and future plans. Jerry and Sasha also discuss the current status of the bill, its potential impact, and the prospects for its passage by Congress in a contested election year.

Cufflinks:

Watch the episode transcript