Massad to step down as CFTC chairman

He is set to leave on the day of Donald Trump's inauguration

timothy-massad
Timothy Massad: tenure characterised by introduction of margin requirements for uncleared swaps

Timothy Massad, chairman of the Commodity Futures Trading Commission (CFTC), announced today that he will step down on January 20, on the day Donald Trump is sworn in as president of the US. He will have served half of his five-year term. Massad, a former corporate lawyer, became chairman of the CFTC in June 2014. His tenure is most notably marked by the introduction of margin requirements for uncleared swap transactions in September 2016, one of the Dodd-Frank Act's most important elements.