Release: #4699-02
For Release: September 13, 2002

CFTC Announces Division of Clearing and Intermediary Oversight Regional Management Staff

Washington, D.C. – The Commodity Futures Trading Commission (CFTC) today announced the appointment of Regional Management staff for the new Division of Clearing and Intermediary Oversight.

Marvin Jackson will continue in his current role as Branch Chief of the New York Audit and Financial Branch. Mr. Jackson began his career with the Commission’s predecessor, the Commodity Exchange Authority, in 1968 and has been the Branch Chief of the New York Audit and Financial Review Branch since 1984. Mr. Jackson received his accounting degree from Virginia State College.

H. Frank Zimmerle has been appointed the new Branch Chief of the Chicago Audit and Financial Review Branch. Mr. Zimmerle began his career with the Commission’s predecessor, the Commodity Exchange Authority, in 1974 and has been with the Chicago Office since that time. Mr. Zimmerle received his accounting degree from Illinois State University.

Thomas J. Bloom has been appointed the new Group Leader of the Kansas City Audit and Financial Review Branch. Mr. Bloom has been with the Commission in its Kansas City Office since 1984. Mr. Bloom received his accounting degree from Northwest Missouri State University.

Under the CFTC restructuring announced on February 1, 2002, to facilitate the implementation of the Commodity Futures Modernization Act of 2000, the functions of the new Division include review of Derivatives Clearing Organizations’ registration applications, financial integrity reviews, customer fund protection reviews, stock-index margin reviews, registration and fitness of intermediaries, sales practice reviews, National Futures Association oversight related to intermediaries and clearing operations, and foreign market access by intermediaries.

In announcing the appointments, Jane Kang Thorpe, Director of the Division of Clearing and Intermediary Oversight said:

The CFTC’s Regional Offices have frontline responsibility in monitoring the financial integrity of the marketplace and protecting customers. I am delighted that the Division of Clearing and Intermediary Oversight has such an experienced group of senior auditors who will be responsible for carrying out the CFTC’s oversight functions under the Commodity Futures Modernization Act.