Former CFTC Commissioner Bart Chilton joins DLA Piper as Policy Advisor

After seven years as Commissioner during a time of regulatory overhaul at the CFTC, Bart Chilton moves to pastures new

Former Commodity Futures Trading Commission (CFTC) Commissioner Bart Chilton has joined international law firm DLA Piper in the capacity of Senior Policy Advisor, having commenced his duties on April 15.

Mr. Chilton’s tenure at the CFTC involved a litany of regulatory changes relating to electronic trading within the large institutions of Chicago and New York, including his proponency of the Volcker Rule, which was invoked last year in order to curb proprietary trading.

The inauguration of the Volcker Rule, which forms part of the Dodd-Frank Wall Street Reform Act generated a degree of anticipation among institutional FX firms and proprietary trading offices across North America, however on its inception, FX firms were permitted to continue to trade their own capital, as the rule was brought in for bank adherence only.

Mr. Chilton was appointed Commissioner in 2007, at which time he called for tougher Wall Street regulation just one year before the global financial crisis unfolded. He specifically sought to raise awareness among America’s authorities about risks posed by speculative traders who engage in high-risk practice with certain commodities.

Mr. Chilton is likely to be remembered as a vocal and charismatic public speaker, whose references during speeches to less staid aspects of the world such as rock music stood him out in the otherwise grey-suited world of financial markets regulation.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.

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