October 17, 2018
CFTC Chairman Giancarlo Announces Sponsors for Advisory Committees
Washington, DC — Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo announced today that Commissioner Dawn Stump will sponsor the Global Markets Advisory Committee and Commissioner Dan Berkovitz will sponsor the Energy and Environmental Markets Advisory Committee.
CFTC’s Advisory Committees were created to seek input and make recommendations to the Commission on a variety of regulatory and market issues that affect the integrity and competitiveness of U.S. markets. These committees facilitate communication among the Commission and U.S. markets, trading firms, market participants, advocates and commercial end users.
The Global Markets Advisory Committee (GMAC) was created in 1998 to advise the Commission on issues that affect the integrity and competitiveness of U.S. markets and U.S. firms engaged in global business.
The Energy and Environmental Markets Advisory Committee (EEMAC), formerly the Energy Markets Advisory Committee, was created in 2008 to advise the Commission on important new developments in energy and environmental derivatives markets that may raise new regulatory issues, and the appropriate regulatory response to ensure market integrity and competition, and protect consumers.
"Commissioner Stump and Commissioner Berkovitz both bring great vision and expertise to their respective committees,” said Chairman Giancarlo. “I know that under their leadership, the work of these committees will be of significant benefit to the agency and our market participants.”
“U.S. markets and U.S. firms are facing new and unique circumstances as they operate in global markets and face various competitive pressures and regulatory oversight. The CFTC must remain cognizant of these changing global dynamics to promote safe, robust, and liquid global markets while contemporaneously supporting the integrity and competitiveness of U.S. markets and U.S. firms,” said Commissioner Stump. “I look forward to exploring these matters and other issues germane to global markets with the members of this Advisory Committee. I am hopeful that the GMAC can play a leading role in prioritizing global issues and facilitate the discussion concerning issues impacting markets both domestically and abroad.”
“I am pleased to be named the sponsor of the EEMAC,” said Commissioner Berkovitz. “I have a long standing interest in the proper functioning of energy and environmental derivatives markets. Energy producers, distributors, and consumers rely on these markets to hedge their commodity and financial risks. This hedging activity contributes to a safe, efficiently priced, environmentally safe and uninterrupted energy supply for the people and businesses of the United States. I look forward to working with all of the members of the EEMAC to shed light on the issues that affect and improve price discovery, market integrity and efficiency, liquidity, and transparency in energy and environmental markets. The work of the EEMAC is valuable for enhancing the efficient operation and effectiveness of these markets.”
For more information, visit CFTC’s Advisory Committees.