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The Commission consists of five commissioners appointed by the President, with the advice and consent of the Senate, to serve staggered five-year terms. The President, with the consent of the Senate, designates one of the commissioners to serve as Chairman. No more than three commissioners at any one time may be from the same political party.

http://www.cftc.gov/aboutthecftc/commissioners/jsommers.html

Commissioner Jill E. Sommers


Jill E. Sommers was sworn in as a Commissioner of the Commodity Futures Trading Commission on August 8, 2007 to a term that expires April 13, 2009. On February 4, 2008 the Commission appointed Commissioner Sommers to serve as Chairman and Designated Federal Official of the Global Markets Advisory Committee, which meets periodically to discuss issues of concern to exchanges, firms, market users and the Commission regarding the regulatory challenges of a global marketplace. Commissioner Sommers has worked in the commodity futures and options industry in a variety of capacities throughout her career. In 2005 she was the Policy Director and Head of Government Affairs for the International Swaps and Derivatives Association, where she worked on a number of over-the-counter derivatives issues.

Prior to that, Ms. Sommers worked in the Government Affairs Office of the Chicago Mercantile Exchange (CME), where she was instrumental in overseeing regulatory and legislative affairs for the exchange. During her tenure with the CME, she had the opportunity to work closely with congressional staff drafting the Commodity Futures Modernization Act of 2000.

Commissioner Sommers started her career in Washington in 1991 as an intern for Senator Robert J. Dole (R-KS), working in various capacities until 1995. She later worked as a legislative aide for two consulting firms specializing in agricultural issues, Clark & Muldoon, P.C. and Taggart and Associates.

Commissioner Bart Chilton

photo of Commissioner Bart Chilton
Bart Chilton was sworn in as CFTC Commissioner on August 8, 2007. He was formerly the Chief of Staff and Vice President for Government Relations at the National Farmers Union – one of the oldest and largest trade associations.

In 2005, Mr. Chilton was a Schedule C political appointee of President Bush at the U.S. Farm Credit Administration where he served as an Executive Assistant to the Board. From 2001 – 2005, Mr. Chilton was a Senior Advisor to Senator Tom Daschle, the Democrat Leader of the United States Senate where he worked on myriad issues including, but not limited to, agriculture and transportation policy.

From 1995 – 2001, Mr. Chilton was a Schedule C political appointee of President Clinton where he rose to Deputy Chief of Staff to the U.S. Secretary of Agriculture Dan Glickman. In this role, Chilton became a member of the Senior Executive Service (SES) – government executives selected for their leadership qualifications to serve in the key positions just below the top Presidential appointees. As an SES member, Chilton served as a major link between Secretary Glickman and the rest of the Federal work force at USDA.

From 1985 – 1995, Mr. Chilton worked in the U.S. House of Representatives as Legislative Director for three different Members of Congress on Capitol Hill.

http://www.cftc.gov/aboutthecftc/commissioners/bchilton.html

Commissioners

The Commission consists of five commissioners appointed by the President, with the advice and consent of the Senate, to serve staggered five-year terms. The President, with the consent of the Senate, designates one of the commissioners to serve as Chairman. No more than three commissioners at any one time may be from the same political party.

CFTC Commissioners

Facts & Figures

Plum Book

Every four years, just after the Presidential election, the “United States Government Policy and Supporting Positions” is published. It is commonly known as the Plum Book and is alternately published between the House and Senate.

The Plum Book is a listing of over 9,000 civil service leadership and support positions (filled and vacant) in the Legislative and Executive branches of the Federal Government that may be subject to noncompetitive appointments. These positions include agency heads and their immediate subordinates, policy executives and advisors, and aides who report to these officials. Many positions have duties which support Administration policies and programs. The people holding these positions usually have a close and confidential relationship with the agency head or other key officials.

The Plum Book is available online at http://www.gpoaccess.gov/plumbook/index.html.

http://www.opm.gov/ses/facts_and_figures/plumbook.asp

“What is the SES?” The Senior Executive Service (SES) is comprised of the men and women charged with leading the continuing transformation of our government. This dedicated corps of executives shares a commitment to public service and a set of democratic values grounded in the fundamental ideals of the Constitution. As the leaders of our Federal civilian workforce, Senior Executives strive each day to create a more citizen centered, result oriented Federal Government.

Welcome to the Senior Executive Service

http://www.opm.gov/ses/

Recruitment & Selection

Learn more about how executive positions are filled! Click on the links below to find out more.

http://www.opm.gov/ses/recruitment/index.asp

The Civil Service Reform Act (CSRA) established the Senior Executive Service (SES) in 1979. It was set up as a “third” service, completely separate from the existing competitive and excepted services. Career status in the SES does not confer eligibility for appointment in the competitive service.

The purpose of the SES is to ensure that the executive management of the Government is responsive to the needs, policies, and goals of the nation and otherwise of the highest quality. To achieve this purpose, the CSRA provided greater authority to agencies in managing their executive resources.

http://www.doi.gov/hrm/pmanager/st6c.html

SPEAKERS       CONTENTS       INSERTS

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RECOMMENDATIONS BY THE PRESIDENT’S WORKING GROUP ON FINANCIAL MARKETS

TUESDAY, APRIL 11, 2000
U.S. House of Representatives,
Committee on Banking and Financial Services,
Washington, DC.

The committee met, pursuant to call, at 10:00 a.m., in room 2128, Rayburn House Office Building, Hon. James A. Leach, [chairman of the committee], presiding.

Present: Chairman Leach; Representatives Roukema, Baker, Biggert, Terry, Toomey, LaFalce, Kanjorski, Waters, C. Maloney of New York, Watt, Bentsen, Sherman, and Lee.

Chairman LEACH. The hearing will come to order.

Today’s hearings will address three areas—over-the-counter derivatives; hedge funds; and contract netting—where legislative proposals are pending to reduce systemic risk to the financial markets. The legislation, in each case, is based upon recommendations from the President’s Working Group on Financial Markets. The Working Group, which consists of the Secretary of the Treasury and Chairmen of the Federal Reserve, the Securities and Exchange Commission, and the Commodity Futures Trading Commission, has creatively examined system-wide issues across the legalistic and jurisdictional divides that normally separate one regulator’s thinking from another’s.

***

The Working Group’s newly established and long overdue consensus on OTC derivatives is momentous for the banking industry, banking regulators and this committee. An overwhelming majority of financial OTC derivatives transactions involve one or more banks. Not only do the largest commercial banks conduct most of the dealer activities for financial swaps or related derivatives, but banks and other financial institutions of all kinds and sizes are the largest-scale end-users of these contracts.

OTC derivatives, particularly interest-rate, foreign exchange, and credit derivatives, have become essential to risk management strategies, proprietary trading activities, international operations, and services to institutional customers. For these reasons, this committee has had a vigorous and sustained interest in derivatives issues for well over a decade.

In 1993, the then-committee Minority issued what remains the most comprehensive analysis of over-the-counter derivatives ever produced in Congress. Many of the issues addressed in the Working Group’s 1999 report were raised in that report.

http://commdocs.house.gov/committees/bank/hba63923.000/hba63923_0.htm

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