The US Commodity Futures Trading Commission’s Acting Chairman J. Christopher Giancarlo announced today that Amir Zaidi has been named the new Director of the Division of Market Oversight (DMO).
In his new role, Mr. Zaidi will head the division that oversees trade execution facilities and data repositories, conducts market surveillance, reviews new exchange applications and examines existing exchanges to ensure compliance with applicable core principles.
DMO also evaluates new products to ensure they are not susceptible to manipulation, as well as rule filings by exchanges to ensure compliance with core principles.
Acting Chairman Giancarlo said: “During my time at the CFTC, I have been impressed by the dedication and knowledge of the Commission’s staff including in DMO. I am pleased Amir Zaidi has agreed to take on this important role and lead this critical division. Further, I thank Vince, Jeff and John for their dedication and commitment for taking on these significant roles at the CFTC. One of the hallmarks of our democracy is the peaceful transfer of power, but one the strengths of our country that isn’t talked about much is the dedicated staff who oversee the markets, enforce the rules and ensure the integrity of the marketplace. I am proud to work alongside these talented individuals, and I thank them for their service.”
Further, the CFTC also appointed Vincent McGonagle as the Acting Director for the Division of Enforcement (DOE).
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Mr. McGonagle has served at the CFTC for nearly 20 years in various management capacities in the Division of Enforcement (DOE), and will assume his new role effective from this month.
Since March 2002, Mr. McGonagle has served as the Senior Deputy Director of the Division of Enforcement, responsible for day-to-day operation and oversight of DOE, which is charged with enforcement of the Commodity Exchange Act and Commission Regulations.
Mr. McGonagle directly supervised more than 50 investigation and litigation staff members in the Division’s Headquarters and the New York regional office.
Recently, Mr. McGonagle served as the Director of DMO, where he helped the Commission complete registration review and Commission approval for 23 SEFs based upon DMO’s recommendations. He previously supervised the Commission’s landmark cases against Barclays PLC, U.B.S. and R.B.S. for manipulative conduct and false reporting concerning LIBOR and other global benchmark interest rates.
After leaving the private sector in 1997, Mr. McGonagle joined the CFTC as a staff attorney in DOE, eventually serving as Acting Associate Director and Counsel to the Director before serving as Senior Deputy.
Mr. McGonagle holds a B.A. in Economics from LaSalle University and a J.D. from Pepperdine University School of Law.