Release: 4338-99

For Release: November 15, 1999

Phyllis Cela Receives Presidential Rank Award

WASHINGTON – Commodity Futures Trading Commission Chairman William J. Rainer today announced that Phyllis J. Cela is the recipient of the Presidential Rank Award for Meritorious Service, an honor given members of the Senior Executive Service for long-term, exceptional performance. Ms. Cela is the Acting Director of the Division of Enforcement and serves permanently as the Chief Counsel of the Division of Enforcement.

"Ms. Cela has made an outstanding contribution to the success of the Commission’s enforcement program and in fostering cooperation with authorities around the world," Chairman Rainer said. "She is truly deserving of this award for her accomplishments in addressing challenges presented by fraud and manipulation in a changing global financial marketplace."

Ms. Cela joined the Commission in 1981, and has distinguished herself for her contributions in investigating and prosecuting a number of the most complex fraud and manipulation matters undertaken by the Commission over the years. She also has played a vital role in the development of the Commission’s international cooperative enforcement program, establishing formal information sharing arrangements with authorities around the world and working on a case-by-case basis to further the ability of the Commission to investigate wrongdoing across markets and borders. Ms. Cela was particularly effective in the investigation of the Commission’s Sumitomo copper manipulation case which involved groundbreaking cooperation and coordination with authorities in the United Kingdom and Japan.

Ms. Cela also has played a critical role in the strategic planning and management of the Division, evaluating performance measures and addressing trends in wrongful activity. Under her leadership, the Division has established a comprehensive Internet Surveillance Program to keep pace with new technological challenges to the Commission’s enforcement responsibilities.

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