regulation
CFTC Appoints Dr. Patrick J. Schorno as Chief Economist
CFTC Chairman Michael S. Selig announced the appointment of Dr. Patrick J. Schorno as the agency's chief economist, emphasizing the importance of rigorous economic analysis in derivatives regulation.
AS1 NewsSource: cftc.gov
The Commodity Futures Trading Commission (CFTC) has appointed Dr. Patrick J. Schorno as its new chief economist. In this role, he will serve as an economic adviser to the Commission, focusing on integrating thorough economic analysis, regulatory cost-benefit assessments, and research into the agency's work. Dr. Schorno's background includes experience at the Public Company Accounting Oversight Board, Ally Financial, and the Federal Reserve Bank of Richmond. His academic work has been published in prominent finance journals. This appointment underscores the CFTC's commitment to transparent and high-quality economic evaluation in overseeing derivatives markets, which are a key part of the financial ecosystem. The role involves supporting the agency's mission to ensure fair and efficient markets through sound economic policies.
The appointment is likely to strengthen the CFTC's regulatory framework through enhanced economic analysis, potentially affecting derivatives market oversight.