Christopher Giancarlo, Chairman of the Commodity Futures Trading Commission (CFTC), the federal financial regulator charged with overseeing the trading of futures and options in the United States, has appointed Brian A. Bussey to fill the position of the agency’s Division of Clearing and Risk (DCR).
Mr. Bussey will assume his new role effective October 16, replacing John C. Lawton, a 36-year employee of the commission who took over as acting director of DCR in January 2017. Lawton will become a special advisor to the DCR division director.
The division of Clearing and Risk (DCR) is at the forefront of the CFTC’s efforts to oversees derivatives clearing organizations (DCOs) and other market participants including FCMs, swap dealers, major swap participants and large traders.
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Brian joins the CFTC from the Securities and Exchange Commission (SEC) where he served most recently as Associate Director for Derivatives Policy and Trading Practices in the Trading and Markets Division. Mr. Bussey played a transformative role during his tenure with the top US regulator as he led the commission’s effort to establish an office of derivatives policy and to expand the clearance and settlement program.
Brian has been with the SEC since 1998, first working as senior counsel in the General Counsel’s office and then as special counsel in the Chief Counsel office in the Trading and Markets division.
Commenting on the appointment, CFTC Chairman Giancarlo said: “Brian’s reputation for professional excellence is well known in the financial regulatory community. He will be a great addition to the Commission as we work to fulfill the CFTC’s regulatory mission in a manner that fosters broad-based economic growth and American prosperity.”
Brian A. Bussey added: “Under Chairman Giancarlo’s leadership, the CFTC is tackling the most pressing issues facing our derivatives markets with the aim of fostering open, transparent, competitive and financially sound markets, both domestically and internationally. I look forward to assisting in that effort in my capacity as the Director of the Division of Clearing and Risk.”