CFTC Announces Three Executive Staff Appointments

The US Commodity Futures Trading Commission (CFTC CFTC The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss Read this Term) announced three new appointments on Thursday for the executive staff. According to Kristin N. Johnson, the CFTC Commissioner, Bruce Fekrat will serve as Chief Counsel and Natasha C. Robinson Coates and Lillian A. Cardona will serve as interim Senior Counsel.

Commissioner Johnson names Fekrat as the Chief Counsel from 1 June. Previously, Fekrat worked for CME Group as an Executive Director and Associate General Counsel.

Fekrat served as lead regulatory counsel to CME Group’s energy, metals, agricultural, FX, digital assets and environmental product groups, providing comprehensive regulatory guidance to global service lines and their teams.

Fekrat graduated with honors from the University of Maryland College Park and received his JD and LL.M in Securities and Financial Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term from Georgetown University Law Center.

Interim Senior Counsel Robinson Coates will assist commissioner Johnson. She joined the CFTC from the Legal Division, where she was Deputy General Counsel for Legislative and Intergovernmental Affairs. As a team leader, she provided advice and counsel to divisions and offices, including the Office of International Affairs, the Office of Legislative and Intergovernmental Affairs, the Whistleblower Office as well as the Office of Legislative and Intergovernmental Affairs.

Her educational background includes a BA from St. Mary’s College of Maryland (Phi Beta Kappa), an MS from Champlain College, and a JD from William and Mary Law School.

Cardona’s previous position was as Assistant Chief Counsel at the Department of Motor Vehicles. Throughout her time at DMO, Cardona provided advice to the Director and Division staff on a variety of products and market oversight policies. In addition, her work included contributing to major rulemakings, such as the CFTC’s recent Final Position Limit Rule, and assisting DMO’s Compliance Branch with leading two Swap Execution Facility regulatory compliance consultations.

She graduated with a BA from Rutgers University and a JD from Rutgers School of Law-Newark.

Commissioner's Statement

“I am excited to work with this exceptionally talented team during this transformative moment in the history and development of financial markets,” said Commissioner Johnson. “It is a privilege to benefit from expert counsel with such an extensive depth and breadth of experience in market structure, risk management oversight and customer protection in the markets for legacy and innovative emerging asset classes,” the CFTC Commissioner commented.