The CFTC has named Gary Barnett to head the agency’s new Division of Swap Dealer and Intermediary Oversight. The division was created as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act to enhance the Commission’s ability to regulate derivatives products. As head of a division setting out into uncharted regulatory waters, Mr. Barnett is poised to make a significant impression on the swaps industry.
Mr. Barnett comes from a strong legal background. He is currently in charge of the U.S. Derivatives and Structured Finance Practice Group at Linklaters LLP, where he specializes in the international swaps market. Said CFTC Chairman Gary Gensler: “Gary Barnett comes to the CFTC with a vast knowledge of the swaps market. His derivatives expertise will be essential to leading the CFTC’s new division, which will be integral to implementing the Dodd-Frank provisions that will lower the risk of the swaps market to the overall economy. The division also will provide necessary oversight of this market. I welcome him to our team and look forward to working with him.”