Commissioner Kristin N. Johnson of the Commodity Futures Trading Commission (CFTC) was named the sponsor of the agency’s Market Risk Advisory Committee (MRAC), consisting of 36 financial industry executives and other prominent figures.
In September 2021, US President Joe Biden nominated Johnson to be a CFTC commissioner, along with commissioner Christy Goldsmith Romero and acting chairman Behnam for permanent chairs.
Johnson took office on March 30. After working as a law professor for nearly a decade, she took the job. Johnson is the author of academic articles advocating for more stringent cryptocurrency regulations. In a statement, Johnson said:
#“Having spent my career in risk management oversight, I appreciate the MRAC’s significant and critical role in advising the Commission on risk management in our markets including the emerging decentralized market structures in digital asset or cryptocurrency markets that may not rely on intermediation.”#
The five CFTC commissioners were given sponsorships for five of the six CFTC committees on Tuesday, with the exception of the CFTC-SEC Joint Advisory Committee.
The MRAC comprises 36 executives from the derivatives and other financial markets industries, as well as academics and regulators.
Members of the Federal Reserve Banks of New York and Chicago, HSBC chief operating officer Chris Dickens, Goldman Sachs managing director Amy Hong, BlackRock managing director Eileen Kiely, and Futures Industry Association members make up the group.
On June 8, Johnson will deliver the keynote talk at the FIA’s International Derivatives Expo in London, “exploring an adequate regulatory framework for [..] the emerging decentralized digital asset market.”