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H.R. 3690House119th Congress (2025-2027)In Committee

Securing Innovation in Financial Regulation Act

Sponsored by Frank D. LucasRep. Frank D. Lucas (R-OK)
Introduced June 3, 2025

AI-Generated Summary

Updated November 24, 2025 at 12:16 AM UTC

The Securing Innovation in Financial Regulation Act creates two new units – the Strategic Hub for Innovation and Financial Technology (FinHub) within the SEC and LabCFTC within the CFTC – to help regulators engage with emerging financial‑technology companies. Both units will serve as resources, provide outreach, and advise their agencies on fintech developments, with annual public reports to Congress. The bill applies to the SEC, the CFTC, and any market participants or innovators that interact with these new offices.

Key Provisions

  • FinHub must be established by the SEC within 180 days, staffed from relevant SEC divisions, and tasked with informing the agency about fintech advances, engaging market participants, and facilitating communication about rules and regulations.
  • FinHub must submit an annual summary of its activities to the SEC, which will be included in the SEC’s annual report to Congress, without disclosing confidential information.
  • LabCFTC is created within the CFTC to promote responsible fintech innovation, provide information to the agency, and conduct outreach to innovators, with a Director appointed by the CFTC who reports directly to the commission.
  • LabCFTC must advise the CFTC on rulemaking, provide internal fintech training, engage academia and professionals, and encourage innovators to seek regulatory feedback.
  • LabCFTC must file an annual report with the House and Senate Agriculture Committees detailing meetings, issues discussed, actions taken, and recommendations, while protecting confidential data.
  • Both units must maintain records of public engagements, store communications per agency policies, and protect proprietary information. The CFTC must implement these changes within 180 days of enactment.

Legislative Activity

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HouseIntro Referral Latest Action

Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Financial Services Committee

June 3, 2025

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HouseIntro Referral

Introduced in House

June 3, 2025

HouseIntro Referral

Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Financial Services Committee

June 3, 2025

Bill Text

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Introduced in HouseIssued June 3, 2025

I

119th CONGRESS

1st Session

H. R. 3690

IN THE HOUSE OF REPRESENTATIVES

June 3, 2025

Mr. Lucas introduced the following bill; which was referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

A BILL

To codify the Office of the Strategic Hub for Innovation and Financial Technology of the Securities and Exchange Commission and LabCFTC of the Commodity Futures Trading Commission, and for other purposes.

1.

Short title

This Act may be cited as the Securing Innovation in Financial Regulation Act.

2.

Strategic Hub for Innovation and Financial Technology

Section 4 of the Securities Exchange Act of 1934 (15 U.S.C. 78d) is amended by adding at the end the following:

(k)

Strategic Hub for Innovation and Financial Technology

(1)

Establishment

Not later than 180 days after the date of the enactment of this subsection, the Securities and Exchange Commission shall establish a committee to be known as the Strategic Hub for Innovation and Financial Technology (referred to in this subsection as the FinHub) to support engagement on emerging technologies in the financial sector.

(2)

Members

The composition of FinHub shall be determined by the Commission, drawing from relevant divisions as appropriate, including the Division of Trading and Markets, Division of Corporate Finance, and Division of Investment Management.

(3)

Responsibilities

FinHub shall—

(A)

serve as a resource for the Commission on emerging financial technology advancements;

(B)

engage with market participants working on emerging financial technologies; and

(C)

facilitate communication between the Commission and businesses working in emerging financial technology fields with information on the Commission, its rules, and regulations.

(4)

Report to the Commission

(A)

In general

Not later than October 31 of each year after 2025, FinHub shall provide an annual summary of its engagement activities to the Commission, which shall be included in the Commission’s annual report to Congress.

(B)

Confidentiality

Each report submitted under this paragraph shall not contain confidential information.

.

3.

Codification of LabCFTC

(a)

In general

Section 18 of the Commodity Exchange Act (7 U.S.C. 22) is amended by adding at the end the following:

(c)

LabCFTC

(1)

Establishment

There is established in the Commission LabCFTC.

(2)

Purpose

The purposes of LabCFTC are to—

(A)

promote responsible financial technology innovation and fair competition for the benefit of the American public;

(B)

serve as an information platform to inform the Commission about new financial technology innovation; and

(C)

provide outreach to financial technology innovators to discuss their innovations and the regulatory framework established by this Act and the regulations promulgated thereunder.

(3)

Director

LabCFTC shall have a Director, who shall be appointed by the Commission and serve at the pleasure of the Commission. Notwithstanding section 2(a)(6)(A), the Director shall report directly to the Commission and perform such functions and duties as the Commission may prescribe.

(4)

Duties

LabCFTC shall—

(A)

advise the Commission with respect to rulemakings or other agency or staff action regarding financial technology;

(B)

provide internal education and training to the Commission regarding financial technology;

(C)

advise the Commission regarding financial technology that would bolster the Commission’s oversight functions;

(D)

engage with academia, students, and professionals on financial technology issues, ideas, and technology relevant to activities under this Act;

(E)

provide persons working in emerging technology fields with information on the Commission, its rules and regulations, and the role of a registered futures association; and

(F)

encourage persons working in emerging technology fields to engage with the Commission and obtain feedback from the Commission on potential regulatory issues.

(5)

Report to Congress

(A)

In general

Not later than October 31 of each year after 2025, LabCFTC shall submit to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate a report on its activities.

(B)

Contents

Each report required under paragraph (1) shall include—

(i)

the total number of persons that met with LabCFTC;

(ii)

a summary of general issues discussed during meetings with the person;

(iii)

information on steps LabCFTC has taken to improve Commission services, including responsiveness to the concerns of persons;

(iv)

recommendations made to the Commission with respect to the regulations, guidance, and orders of the Commission and such legislative actions as may be appropriate; and

(v)

any other information determined appropriate by the Director of LabCFTC.

(C)

Confidentiality

A report under paragraph (A) shall abide by the confidentiality requirements in section 8.

(6)

Records and engagement

The Commission shall—

(A)

maintain systems of records to track engagements with the public through LabCFTC;

(B)

store communications and materials received in connection with any such engagement in accordance with Commission policies and procedures on data retention and confidentiality; and

(C)

take reasonable steps to protect any confidential or proprietary information received through LabCFTC engagement.

.

(b)

Conforming amendments

Section 2(a)(6)(A) of such Act (7 U.S.C. 2(a)(6)(A)) is amended—

(1)

by striking paragraph and in and inserting paragraph,; and

(2)

by inserting and section 18(c)(3), before the executive.

(c)

Effective date

The Commodity Futures Trading Commission shall implement the amendments made by this section (including complying with section 18(c)(7) of the Commodity Exchange Act) within 180 days after the date of the enactment of this Act.