Ananda Radhakrishnan, director of the Commodity Futures Trading Commission’s (CFTC) Division of Clearing and Risk (DCR), is to leave the agency in the middle of November.
Radhakrishnan is a 12-year veteran of the agency, and he has been the director since DCR was formed in 2011 and previously had been the director of the Division of Clearing and Intermediary Oversight (DCIO).
Phyllis Dietz, currently deputy director for clearing policy, will be the acting director upon Radhakrishnan’s departure.
“Ananda has been a tremendous asset to the CFTC. I have enjoyed working with him and have valued his leadership and counsel during my time at the Commission. I wish Ananda the best in his future endeavours,” says CFTC chairman Tim Massad.
Under Radhakrishnan’s leadership, DCR has implemented key requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act, including regulations with respect to core principles for derivatives clearing organizations (DCOs); clearing determinations issued by the CFTC; regulations governing clearing member risk management and the protection and investment of customer funds; and regulations mandating the straight-through-processing of swaps executed on futures exchanges and swap execution facilities.
“It has been an honour and a privilege to work with chairman Massad, the commissioners and the staff of the commission during my tenure at the CFTC,” says Radhakrishnan. “I am grateful for the opportunity I have had to work on behalf of the Commission for the past 12 years and especially for the extraordinary efforts of my talented and dedicated colleagues in DCR and DCIO.”
Dietz joined the CFTC as a Special Counsel in 1999, having previously worked in private practice in the areas of Federal securities law and banking law. As head of the DCR Clearing Policy Branch, Dietz’s responsibilities have included developing and implementing policies for the regulation and supervision of DCOs. Along with Radhakrishnan, she was instrumental in establishing the CFTC’s comprehensive regulatory framework for DCOs.