; (v) recommendations— (I) with respect to the regulations of the Commission and the guidance and orders of the Commission; and (II) for such legislative actions as FinHub determines appropriate; and (vi) any other information, as determined appropriate by the Director of FinHub. (C) Confidentiality A report under subparagraph (A) may not contain confidential information. (7) Systems of records (A) In general The Commission shall establish a detailed system of records (as defined under section 552a of title 5, United States Code) to assist FinHub in communicating with interested parties. (B) Entities covered by the system Entities covered by the system required under subparagraph (A) include entities or persons submitting requests or inquiries and other information to Commission through FinHub. (C) Security and storage of records FinHub shall store— (i) electronic records— (I) in the system required under subparagraph (A); or (II) on the secure network or other electronic medium, such as encrypted hard drives or back-up media, of the Commission; and (ii) paper records in secure facilities. (8) Effective date This subsection shall take effect on the date that is 180 days after the date of the enactment of this subsection. . 603. 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