Commissioner Kristin Johnson to sponsor CFTC Market Risk Advisory Committee

Kristin N., United States Commodity Futures Trading Commission (CFTC), was appointed the sponsor of Tuesday’s Market Risk Advisory Committee. Rostin Behnam, CFTC chair, was replaced by her.

U.S. President Joe Biden nominated Johnson to be a CFTC Commissioner in September 2021. This was concurrent with the nominations for commissioner Christy Goldsmith Romero as acting chairman and Behnam to serve as the permanent chair. Johnson was sworn into office on March 30. After more than a decade working as a law professor, Johnson was able to move into this position. Johnson has written academic papers advocating for tighter control over cryptocurrency. Johnson stated in a statement that:

“Having spent my entire career in risk management oversight, the MRAC has played a significant and crucial role in advising Commission on risk management in our market including the emerging decentralized markets in digital asset or crypto markets that may not depend on intermediation.

Five of six CFTC committees received sponsorships from the five CFTC commissioners on Tuesday. The exception was the CFTC/SEC Joint Advisory Committee. The MRAC is comprised of 36 industry leaders from derivatives and other financial markets, as well as regulators and academics. It comprises members of the Federal Reserve Banks of New York, Chicago, HSBC chief operational officer Chris Dickens and Amy Hong, BlackRock managing directors Eileen Kiely, and members of Futures Industry Association.

Johnson will deliver the keynote address at the FIA International Derivatives Expo, London on June 8, about “exploring an appropriate regulatory frame for [..] The burgeoning digital asset market.”