For Release: February 4, 2008
Washington, DC — The Commodity Futures Trading Commission (CFTC) announced today the appointment of Commissioner Jill E. Sommers to serve as Chairman and Designated Federal Official of its Global Markets Advisory Committee (GMAC). The GMAC studies the competitive and regulatory issues facing U.S. markets and U.S. firms engaged in providing financial services around the world.
Commissioner Sommers takes over the GMAC Chair from Acting Chairman Walter L. Lukken who has chaired this committee since October 2003. In announcing this appointment, CFTC Acting Chairman Lukken stated, “On behalf of the Commission, I wish to express my gratitude to Commissioner Sommers for accepting the Chair of the GMAC. During the past four years, I am confident that our work has raised attention to these important global issues facing our borderless industry. I am certain the Commission will continue to benefit from the GMAC’s deliberations under Commissioner Sommers’ able leadership.”
The Commission created the GMAC in 1998 to provide a forum to discuss with market participants the many issues raised by financial markets globalization.
“The futures and options markets are a dominant force in the global marketplace. Dialogue is key as we strive to stay ahead of the curve in this dynamic industry. I look forward to the GMAC serving as a timely forum for the range of market participants to discuss the challenges and opportunities of the day” said Commissioner Sommers. “It’s a privilege to serve as Chair of the Committee and I look forward to continuing its important work.”
For further information concerning this committee, please visit the Commission’s website: www.cftc.gov.
R. David Gary
Last Updated: February 4, 2008