Release: 4981-04
For Release: August 26, 2004

CFTC ANNOUNCES DEPARTURE OF SCOTT PARSONS

Washington, D.C. – The Commodity Futures Trading Commission (CFTC) today announced that Chief of Staff/Chief Operating Officer Scott Parsons will be leaving the Commission August 30, 2004, to become Executive Vice President, Strategic and Government Affairs for Managed Funds Association (MFA).

Mr. Parsons joined the CFTC in 1998 as the Policy Advisor to then Commissioner James E. Newsome. His primary responsibilities included advising and representing Commissioner Newsome on economic and legislative matters. After Mr. Newsome was nominated by President George W. Bush, and subsequently confirmed by the United States Senate in December 2001, to be Chairman of the agency, he appointed Mr. Parsons to be the Commission’s Chief of Staff/Chief Operating Officer.

Mr. Parsons performed a variety of confidential assignments, which required a detailed knowledge of the Chairman’s personal views on issues facing the agency, and acted as a spokesperson for the Chairman on all major Commission policies. He also was responsible for advising and consulting with the other Commissioners and presenting the Chairman’s views on various aspects of the administration and enforcement of the Commodity Exchange Act and CFTC regulations. Mr. Parsons also personally oversaw the daily operations of the Commission, which employs over 500 people in four offices across the country.

Mr. Parsons, in announcing his departure, commented, “I am honored to have served at the CFTC for almost six years. My time here has been both a great learning experience and a true enjoyment. I sincerely appreciate Chairman Newsome for giving me the opportunity to serve, the CFTC staff for their unyielding support and hard work, and the people from the industry for their commitment to integrity and willingness to work toward common goals. I am excited about continuing to work with many of these same people, and especially about my new opportunity at MFA.”

In acknowledging Mr. Parsons departure, Acting Chairman Sharon Brown-Hruska said, “Scott has been a tireless contributor to the Commission and it has benefited immensely from the skill, experience, and energy that he brought to his job. On behalf of Commissioner Lukken and the entire Commission staff, I wish Scott every success at Managed Funds Association.”

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