The CFTC reports that Sarah E. Josephson, director of the CFTC’s Office of International Affairs (OIA), “has decided to leave her position as director of OIA to return to her previously held position,” which was deputy director in the CFTC’s Division of Clearing and Risk (DCR).
Josephson has been at the CFTC for eight years, including the past two as OIA director, according to a CFTC statement, which notes also that Chairman Tim Massad has appointed Special Counsel Jeffrey M. Bandman acting OIA director while the commission undertakes a search for a new director.
Bandman joined the CFTC in 2014 as special counsel to the chairman, the statement says. “At the commission, he has been advising the chairman on a range of issues including analysis and negotiation of international CCP equivalence, SEF trading, benchmarks, uncleared swaps margin and data harmonization. He will continue as an advisor to the chairman.”
As OIA director, Josephson “led a broad array of initiatives designed to enhance coordination and cooperation with foreign authorities and has been the lead advisor to the commission on international issues and cross-border regulatory matters, particularly regarding implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act),” according to the statement. “Ms. Josephson will return to her former position in DCR to concentrate on policy issues related to swaps clearing and clearinghouse oversight.”
In the statement, Chairman Massad salutes Josephson for her “exceptional job representing the commission internationally and promoting global swaps market reform. She has been instrumental in building close working relationships with our counterparts overseas. While we will miss Sarah in her current role at the agency, I am very pleased she is continuing her public service career as part of the DCR team.”
Need a Reprint?
Leave a Reply