Upon the announcement that Commodity Futures Trading Commission (CFTC) Chairman Tim Massad will step down on January 20, FIA president and CEO Walt Lukken released the following statement thanking him for his service to the industry:
“Chairman Massad has provided steady leadership at the CFTC, characterized by his thoughtful approach to policymaking. He made it a priority to speak with industry members to gain insights and gather feedback on key issues. In particular, he made strides in the efficient and effective cross-border harmonization of regulatory initiatives. Our industry appreciates that he has been a strong advocate for client clearing in both CFTC rules and in regards to the Basel Committee’s treatment of initial margin in the leverage ratio capital requirements. We thank him for his service to our industry and the public.”
