NEW CFTC CHAIRMAN SWORN IN

FROM:  U.S. COMMODITY FUTURES TRADING COMMISSION 

Timothy Massad Sworn In as Chairman of the U.S. Commodity Futures Trading Commission

Washington, DC — Timothy Massad was officially sworn in today, after being confirmed by the U.S. Senate on June 3, to serve as the Chairman of the U.S. Commodity Futures Trading Commission (CFTC), the federal agency that oversees the commodity futures, options and swaps industry. Mr. Massad will assume his responsibilities immediately.

Mr. Massad joined the agency after serving as the Assistant Secretary for Financial Stability at the U.S. Department of the Treasury. In that capacity, Mr. Massad oversaw the Troubled Asset Relief Program (TARP), the principal U.S. governmental response to the 2008 financial crisis designed to help stabilize the economy and provide help to homeowners. Prior to joining Treasury, Mr. Massad served as a legal advisor to the Congressional Oversight Panel for the Troubled Asset Relief Program, under the leadership of now Sen. Elizabeth Warren. He was also a partner in the law firm Cravath, Swaine & Moore in New York.

Mr. Massad has a B.A. from Harvard College and J.D. from Harvard Law School. He and his wife, Charlotte Hart, live in Washington with their two children.