US Commodity Futures Trading Commission (CFTC) Commissioner Kristin N. Johnson was named patron of the agency’s Market Risk Advisory Committee (MRAC) on Tuesday. She succeeds CFTC Chairman Rostin Behnam in that role.
Johnson was appointed as a CFTC Commissioner by US President Joe Biden in September 2021, coinciding with the appointments of Commissioner Christy Goldsmith Romero and Acting President Behnam as permanent chair. Johnson was sworn in on March 30. She accepted the position after spending more than a decade as a law professor. Johnson is the author of academic papers in which she has advocated for tighter controls on cryptocurrency. Johnson said in a statement:
“Having spent my career in risk management oversight, I appreciate the MRAC’s significant and critical role in advising the Commission on risk management in our markets, including emerging decentralized market structures in digital asset markets. or cryptocurrencies that may not rely on brokerage.”
Sponsorships were shared among the five CFTC commissioners on Tuesday for five of the six CFTC committees, with the exception of the CFTC-SEC Joint Advisory Committee. ANDhe MRAC is made up of 36 industry leaders in derivatives and other financial markets, as well as academics and regulators. It includes members of the Federal Reserve Banks of New York and Chicago, HSBC COO Chris Dickens, Goldman Sachs Managing Director Amy Hong, BlackRock Managing Director Eileen Kiely, and members of the Association of the Futures Industry.
Johnson will deliver the keynote address “Exploring an appropriate regulatory framework for […] the burgeoning market for decentralized digital assets” at the FIA International Derivatives Exhibition in London on June 8.
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