CFTC Global Markets Advisory Committee

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CFTC Global Markets Advisory Committee
Founded 1998
Headquarters Washington, D.C.
Web site www.cftc.gov

The Commodity Futures Trading Commission's Global Markets Advisory Committee (GMAC) was created in 1998 to advise the Commission on issues that affect the integrity and competitiveness of U.S. markets and U.S. firms engaged in global business.

Purpose

The GMAC's charter identifies the following as within its scope of activity: [1]

  • Avoiding unnecessary regulatory or operational impediments faced by those doing global business
  • Setting appropriate international standards for regulating futures and derivatives markets and intermediaries
  • Assessing the impact on U.S. makets and firms of the Commission's international efforts and the initiatives of foreign regulators and market authorities
  • Achieving continued global competitiveness of U.S. markets and firms
  • Identifying methods to improve domestic and international regulatory structures

The GMAC submits reports and recommendations to the Commission and will operate until the Commission chairman, with the concurrence of the other commissioners, determines that its continuance no longer serves the public interest.

Current Members

On February 4, 2008, CFTC Commissioner Jill E. Sommers was appointed to serve as chairman and designated federal official of the GMAC. Previously Walter Lukken chaired the committee.[2]

Members include the following industry professionals, representatives of futures exchanges, and market participants: [3]

References

  1. Charter. CFTC Global Markets Advisory Committee.
  2. General Press Release. Commodity Futures Trading Commission.
  3. Global Markets Advisory Committee Members. Commodity Futures Trading Commission.