Dr. Heath P. Tarbert was sworn in today as the 14th Chairman of the Commodity Futures Trading Commission (CFTC) replacing J. Christopher Giancarlo.
Tarbert was nominated by President Trump for a term expiring on April 13, 2024.
Tarbert picks up the baton from Giancarlo, a staunch supporter of Fintech innovation, at a crucial time of change in the financial services industry.
Tarbert gave praise to Giancarlo’s tenure:
“Chris deserves great credit for his hard work and service leading the CFTC. Thanks to his efforts, this Commission is positioned better to tackle the challenges we face today and into the future.”
“America’s futures, swaps, and options markets are the global standard. Their integrity is essential to the economic security of every American, particularly our farmers and ranchers. I look forward to working with each Commissioner and the talented staff at the CFTC to ensure our derivatives markets remain vibrant and wrongdoers are held accountable. At its core, the CFTC is a guardian of the American free-enterprise system. Opportunities and threats await us, and we will be ready. Whether it be unfinished business or the unwritten future, now is the time to act, and I intend to hit the ground running.”
Chairman Tarbert most recently served as Assistant Secretary for International Markets and subsequently as acting Under Secretary for International Affairs at the U.S. Department of the Treasury.
Tarbert also served as the G-7/G20 Deputy Finance Minister, a member of the Financial Stability Board, and the co-chair of both the US-EU Financial Regulatory Forum and the US-UK Financial Regulatory Working Group.
Prior to his service at the Treasury Department, Tarbert was head of the bank regulatory practice of Allen & Overy LLP, a global law firm.