October 15, 2014

CFTC Announces Departure of Clearing and Risk Division Director Ananda Radhakrishnan

Washington, DC — The Commodity Futures Trading Commission (CFTC) today announced that Division of Clearing and Risk (DCR) Director Ananda Radhakrishnan will depart the agency at the middle of November. Mr. Radhakrishnan is a 12-year veteran of the agency, and he has been the Director since DCR was formed in 2011 and previously had been the Director of the Division of Clearing and Intermediary Oversight (DCIO). Chairman Tim Massad also announced today that Phyllis Dietz, currently Deputy Director for Clearing Policy, will be the Acting Director upon Mr. Radhakrishnan’s departure.

“Ananda has been a tremendous asset to the CFTC. I have enjoyed working with him and have valued his leadership and counsel during my time at the Commission. I wish Ananda the best in his future endeavors,” said CFTC Chairman Massad.

Under Mr. Radhakrishnan’s leadership, DCR has implemented key requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act, including regulations with respect to core principles for derivatives clearing organizations (DCOs); clearing determinations issued by the CFTC; regulations governing clearing member risk management and the protection and investment of customer funds; and regulations mandating the straight-through-processing of swaps executed on futures exchanges and swap execution facilities.

“It has been an honor and a privilege to work with Chairman Massad, the Commissioners and the staff of the Commission during my tenure at the CFTC,” said Mr. Radhakrishnan. “I am grateful for the opportunity I have had to work on behalf of the Commission for the past 12 years and especially for the extraordinary efforts of my talented and dedicated colleagues in DCR and DCIO.”

Ms. Dietz joined the CFTC as a Special Counsel in 1999, having previously worked in private practice in the areas of Federal securities law and banking law. As head of the DCR Clearing Policy Branch, Ms. Dietz’s responsibilities have included developing and implementing policies for the regulation and supervision of DCOs. Along with Mr. Radhakrishnan, she was instrumental in establishing the CFTC’s comprehensive regulatory framework for DCOs. Ms. Dietz earned her J.D., cum laude, from Georgetown University Law Center, Washington, DC, where she served on the Editorial Board of The Georgetown Law Journal.

Last Updated: October 15, 2014