,i #aai? ,,congress #a/ ,session ,h4 ,r4 #cfij ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,june #c1 #bjbe,mr4 ,lucas introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,f9ancial ,s]vices1 & 9 addition to ! ,committee on ,agriculture1 = a p]iod to be subsequ5tly det]m9$ by ! ,speak]1 9 ea* case = consid]ation ( su* provisions z fall )9 ! jurisdiction ( ! committee conc]n$ ,a ,,bill ,to codify ! ,(fice ( ! ,/rategic ,hub = ,innovation & ,f9ancial ,te*nology ( ! ,securities & ,ex*ange ,commission & ,lab,c,f,t,c ( ! ,commodity ,futures ,trad+ ,commission1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,secur+ ,innovation 9 ,f9ancial ,regulation ,act4 #b4 ,/rategic ,hub = ,innovation & ,f9ancial ,te*nology ,section #d ( ! ,securities ,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4 #gh;d7 is am5d$ by add+ at ! end ! foll[+3 7k7 ,/rategic ,hub = ,innovation & ,f9ancial ,te*nology 7#a7 ,e/abli%m5t ,n lat] ?an #ahj days aft] ! date ( ! enactm5t ( ?is subsection1 ! ,securities & ,ex*ange ,commission %all e/abli% a committee to be kn[n z ! ,/rategic ,hub = ,innovation & ,f9ancial ,te*nology 7ref]r$ to 9 ?is subsection z ! ,fin,hub7 to support engagem5t on em]g+ te*nologies 9 ! f9ancial sector4 7#b7 ,memb]s ,! composition ( ,fin,hub %all be det]m9$ by ! ,commission1 draw+ f relevant divisions z appropriate1 includ+ ! ,division ( ,trad+ & ,m>kets1 ,division ( ,corporate ,f9ance1 & ,division ( ,inve/m5t ,managem5t4 7#c7 ,responsibilities ,fin,hub %all-- 7,a7 s]ve z a res\rce = ! ,commission on em]g+ f9ancial te*nology advancem5ts2 7,b7 engage ) m>ket p>ticipants work+ on em]g+ f9ancial te*nologies2 & 7,c7 facilitate communication betwe5 ! ,commission & bus9esses work+ 9 em]g+ f9ancial te*nology fields ) in=mation on ! ,commission1 its rules1 & regulations4 7#d7 ,report to ! ,commission 7,a7 ,9 g5]al ,n lat] ?an ,octob] #ca ( ea* ye> aft] #bjbe1 ,fin,hub %all provide an annual summ>y ( its engagem5t activities to ! ,commission1 :i* %all be includ$ 9 ! ,commission's annual report to ,congress4 7,b7 ,confid5tiality ,ea* report submitt$ "u ?is p>agraph %all n conta9 confid5tial in=mation4 4 #c4 ,codification ( ,lab,c,f,t,c 7a7 ,9 g5]al ,section #ah ( ! ,commodity ,ex*ange ,act 7#g ,u4,s4,c4 #bb7 is am5d$ by add+ at ! end ! foll[+3 7c7 ,lab,c,f,t,c 7#a7 ,e/abli%m5t ,!re is e/abli%$ 9 ! ,commission ,lab,c,f,t,c4 7#b7 ,purpose ,! purposes ( ,lab,c,f,t,c are to-- 7,a7 promote responsible f9ancial te*nology innovation & fair competition = ! b5efit ( ! ,am]ican public2 7,b7 s]ve z an in=mation plat=m to in=m ! ,commission ab\t new f9ancial te*nology innovation2 & 7,c7 provide outrea* to f9ancial te*nology innovators to discuss _! innovations & ! regulatory framework e/abli%$ by ?is ,act & ! regulations promulgat$ !reund]4 7#c7 ,director ,lab,c,f,t,c %all h a ,director1 :o %all be appo9t$ by ! ,commission & s]ve at ! pleasure ( ! ,commission4 ,not)/&+ section #b7;a77#f77;,a71 ! ,director %all report directly to ! ,commission & p]=m su* functions & duties z ! ,commission may prescribe4 7#d7 ,duties ,lab,c,f,t,c %all-- 7,a7 advise ! ,commission ) respect to rulemak+s or o!r ag5cy or /aff action reg>d+ f9ancial te*nology2 7,b7 provide int]nal education & tra9+ to ! ,commission reg>d+ f9ancial te*nology2 7,c7 advise ! ,commission reg>d+ f9ancial te*nology t w\ld bol/] ! ,commission's ov]sight functions2 7,d7 engage ) academia1 /ud5ts1 & pr(essionals on f9ancial te*nology issues1 ideas1 & te*nology relevant to activities "u ?is ,act2 7,e7 provide p]sons work+ 9 em]g+ te*nology fields ) in=mation on ! ,commission1 its rules & regulations1 & ! role ( a regi/]$ futures association2 & 7,f7 enc\rage p]sons work+ 9 em]g+ te*nology fields to engage ) ! ,commission & obta9 fe$back f ! ,commission on pot5tial regulatory issues4 7#e7 ,report to ,congress 7,a7 ,9 g5]al ,n lat] ?an ,octob] #ca ( ea* ye> aft] #bjbe1 ,lab,c,f,t,c %all submit to ! ,committee on ,agriculture ( ! ,h\se ( ,repres5tatives & ! ,committee on ,agriculture1 ,nutrition1 & ,=e/ry ( ! ,s5ate a report on its activities4 7,b7 ,cont5ts ,ea* report requir$ "u p>agraph 7#a7 %all include-- 7i7 ! total numb] ( p]sons t met ) ,lab,c,f,t,c2 7ii7 a summ>y ( g5]al issues discuss$ dur+ meet+s ) ! p]son2 7iii7 in=mation on /eps ,lab,c,f,t,c has tak5 to improve ,commission s]vices1 includ+ responsiv5ess to ! conc]ns ( p]sons2 7iv7 recomm5dations made to ! ,commission ) respect to ! regulations1 guidance1 & ord]s ( ! ,commission & su* legislative actions z may be appropriate2 & 7v7 any o!r in=mation det]m9$ appropriate by ! ,director ( ,lab,c,f,t,c4 7,c7 ,confid5tiality ,a report "u p>agraph 7,a7 %all abide by ! confid5tiality requirem5ts 9 section #h4 7#f7 ,records & engagem5t ,! ,commission %all-- 7,a7 ma9ta9 sy/ems ( records to track engagem5ts ) ! public ?r\gh ,lab,c,f,t,c2 7,b7 /ore communications & mat]ials receiv$ 9 connection ) any su* engagem5t 9 accordance ) ,commission policies & proc$ures on data ret5tion & confid5tiality2 & 7,c7 take reasonable /eps to protect any confid5tial or propriet>y in=mation receiv$ ?r\gh ,lab,c,f,t,c engagem5t4 4 7b7 ,con=m+ am5dm5ts ,section #b7;a77#f77;,a7 ( su* ,act 7#g ,u4,s4,c4 #b7;a77#f77;,a77 is am5d$-- 7#a7 by /rik+ p>agraph & 9 & ins]t+ p>agraph12 & 7#b7 by ins]t+ & section #ah7;c77#c71 be=e ! executive4 7c7 ,effective date ,! ,commodity ,futures ,trad+ ,commission %all implem5t ! am5dm5ts made by ?is section 7includ+ comply+ ) section #ah7;c77#g7 ( ! ,commodity ,ex*ange ,act7 )9 #ahj days aft] ! date ( ! enactm5t ( ?is ,act4