A New Era at the CFTC: Acting Chair Caroline Pham Ushers in Leadership Changes

Change is in the air at the Commodity Futures Trading Commission (CFTC). With the arrival of a new administration, Acting Chair Caroline Pham has wasted no time in setting the tone for her tenure, announcing sweeping leadership updates across the agency.

In her statement, Pham struck a balance between gratitude for the outgoing team and optimism for the future, “I’m pleased to announce CFTC leadership changes with the beginning of the new Administration, and I want to recognize and thank former Chairman Behnam and his staff...I appreciate our talented CFTC staff who will be assuming these roles on an interim basis.”

This marks a pivotal moment for the agency, as new leaders take the helm in key areas such as enforcement, clearing, and risk management, all while navigating the increasingly complex world of crypto, decentralized finance (DeFi), and global derivatives markets.

Fresh Faces, Familiar Expertise

Leading the charge as Acting Chief of Staff is Harry Jung, a seasoned strategist with a wealth of experience in digital assets and regulatory engagement. Jung’s tenure at Citigroup, where he tackled emerging issues and briefed executives on the latest regulatory twists, positions him well to guide the CFTC’s approach to crypto and DeFi—industries that remain regulatory grey zones.

Jung’s unique mix of private-sector insight and public service acumen makes him a linchpin in Pham’s vision for the agency’s future.

Enforcement & Oversight Get a Boost

The Enforcement Division will now be led by Brian Young, whose 20-year career at the Department of Justice reads like a Hollywood legal thriller. From securing landmark convictions in LIBOR manipulation to exposing high-stakes spoofing schemes, Young has seen it all—and won. His knack for tackling complex fraud and financial crime will undoubtedly set a strong tone for the division during a time when market manipulation remains a global concern.

On the oversight front, Meghan Tente steps in as Acting General Counsel. A CFTC veteran, Tente has spent over a decade navigating the agency’s regulatory labyrinth. Her leadership in registering and monitoring U.S. derivatives exchanges, coupled with her accolades—including multiple Chairman’s Awards—cements her role as a trusted voice in Pham’s leadership team.

Other Notable Appointments

• Taylor Foy, a Capitol Hill communications powerhouse, will direct the Office of Public Affairs. Expect polished messaging and a clear focus on transparency and whistleblower programs.
• Amanda Olear, with nearly two decades at the CFTC, will shift from the Market Participants Division to lead the Division of Market Oversight. Her deep knowledge of derivatives and swap data reporting will be critical as the agency tightens oversight in evolving markets.
• Richard Haynes, a data-driven innovator, takes the reins of the Division of Clearing and Risk. With a PhD in mathematics and a passion for transparency, Haynes has been instrumental in stress testing and developing cutting-edge risk management tools.

These appointments reflect Pham’s emphasis on continuity, expertise, and forward-thinking leadership. The new team is not only steeped in regulatory know-how but also equipped to handle the pressing challenges facing global markets.

A Nod to the Past, Eyes on the Future

As the CFTC transitions to new leadership, Acting Chair Pham’s decisions signal a clear direction: maintaining the agency’s foundational strengths while adapting to the realities of modern markets. Her focus on digital assets, global coordination, and robust enforcement demonstrates a pragmatic approach to leadership—one that compliance professionals should watch closely.

For those in the trenches of compliance, it is clear that the CFTC is doubling down on expertise and innovation. Whether it’s managing systemic risk, overseeing derivatives exchanges, or tackling cross-border challenges, this new leadership team has its work cut out for it.

But if Pham’s appointments are any indication, they’re more than ready for the task ahead.

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