The Depository Trust & Clearing Corporation (DTCC), a provider of post-trade market infrastructure for the global financial services industry, has added regulatory specialist Derek West as its newest Executive Director and Chief Compliance Officer with immediate effect, Finance Magnates has learned.
To unlock the Asian market, register now to the iFX EXPO in Hong Kong.
In his new role at DTCC, Mr. West will be a constituent of the group’s European Global Trade Repository (GTR) business, whilst based out of London. In this capacity, he will be tasked with ensuring GTR Europe’s compliance with European Market Infrastructure Regulation (EMIR) trade repository requirements.
Legal Risk Factor Beneath Ripple’s Lawsuit from SECGo to article >>
Moreover, he will also be coordinating his efforts with EMIR supervisory activities and examinations, working in tandem with the group’s GTR senior management and the European Securities and Markets Authority (ESMA).
Extensive Regulatory Background
Mr. West joins DTCC after a lengthy career at Quebec Autorité des marchés financiers (AMF). Most recently he worked as its Senior Director of Derivatives Oversight, serving in an integral role with the regulator for over twelve years. During his time with the AMF, he was responsible for all aspects of derivatives market regulation, helping draft and implement several key acts and directives.
Prior to joining DTCC in 2004, he also worked in several chairmanships as well as a stint at the US’ National Futures Association (NFA) as its Director, Strategic Planning & Development, dating back to 2000, according to information made public on his Linkedin profile.
According to Andrew Douglas, CEO of GTR Europe, in a recent statement on the appointment: “Derek brings a wealth of compliance knowledge and regulatory experience to DTCC. As the global regulatory environment continues to evolve, he will be a key asset to the firm, our community and the GTR Europe compliance program.”