June 5, 2019

CFTC Commissioner Behnam Announces Market Risk Advisory Committee Chair and Agenda for June 12 Public Meeting

Washington, DC - Commodity Futures Trading Commission (CFTC or Commission) Commissioner Rostin Behnam today announced the agenda for the upcoming Market Risk Advisory Committee (MRAC) public meeting that will be held on June 12, 2019 at CFTC’s headquarters in Washington, D.C. and the designation of Nadia Zakir, Executive Vice President and Deputy General Counsel at the Pacific Investment Management Company LLC (PIMCO), as Chairperson of the MRAC.  [See CFTC Press Release 7931-19 for attending, viewing and listening instructions.] Commissioner Behnam is the sponsor of MRAC.

At this meeting, the MRAC will focus on climate-related financial market risks.  In a series of panels, MRAC members and guests will discuss (1) the potential impact of climate change on the future stability of the global financial system; (2) current domestic and international policy initiatives and supervisory approaches to addressing financial market risks related to climate change; (3) market participant approaches to the management and ongoing mitigation of such risks, including key risk management, governance, and disclosure considerations; and (4) the challenges ahead for regulators and market participants.  Additionally, the MRAC will receive a status report from the Interest Rate Benchmark Reform Subcommittee regarding LIBOR transition, and have a presentation on European Market Infrastructure Regulation (EMIR) 2.2, central counterparty stress testing, and Brexit from Steven Maijoor, Chair, European Securities and Markets Authority (ESMA).

“I am very pleased to welcome Ms. Zakir as the Chairwoman of the Market Risk Advisory Committee.  Ms. Zakir’s deep experience and knowledge of financial markets and regulatory policy will benefit the MRAC as it continues to tackle a number of critical market issues.  I look forward to Ms. Zakir’s leadership and contributions to the Committee’s work,” said Commissioner Behnam.

At PIMCO, Ms. Zakir is responsible for providing legal counsel on a broad spectrum of trading, compliance, regulatory and policy matters that impact PIMCO and PIMCO’s clients.  Prior to joining PIMCO in 2013, she was an Associate Director in the Product Review Branch of the Division of Clearing and Risk at the CFTC and also served as Special Counsel in the Exchange and Data Repository Branch of the Division of Market Oversight.  Ms. Zakir holds a J.D. from The Washington College of Law at American University, a master's degree from the University of Chicago, and an undergraduate degree from the University of San Diego.

The meeting is open to the public with seating on a first-come, first-served basis. Members of the public may also listen to the meeting via conference call using a domestic toll-free telephone or international toll or toll-free number to connect to a live, listen-only audio feed. Persons requiring special accommodations to attend the meeting because of a disability should notify Alicia Lewis at (202) 418–5862.

See Agenda here and under Related Links.