The NFA has reported about its appointment of Thomas Sexton who will become the next president and CEO. Here is what you should know about the New NFA CEO Thomas Sexton.
21 November, AtoZForex – The US self-regulatory body, National Futures Association (NFA), announced that Thomas Sexton had been selected to succeed Daniel Roth as the next president and chief executive officer. The change will come into force on the 1st of March 2017. Daniel Roth has commented that:
"Over the past several years, Tom has been exposed to every facet of NFA’s operations, from technology to swaps compliance to registration to NFA’s finances. I can’t think of anyone more qualified for this important role."
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The NFA is a Chicago-based regulator overseeing the U.S. derivatives industry. It includes monitoring on-exchange traded futures and retail off-exchange foreign currency (forex). The regulator is supervised by the Commodity Futures Trading Commission (CFTC). Following the 2008 financial crisis, the NFA had to start supervising dealers and major players in the swaps market. Hence, the number of agency employees had doubled to around 500.
New NFA CEO Thomas Sexton is to succeed Daniel Roth
Current president and CEO Daniel Roth commenced his career at the NFA in 1983. At that time, he served as an attorney. In 2003, Mr. Roth entered his present role and has been occupying it since then. However, in May, he announced his plans to retire. Therefore, the agency had to find a person who would be willing to succeed Daniel Roth. The choice fell on Thomas Sexton who joined the regulator in 1991 as an attorney. In 1998, Mr. Sexton got promoted to the assistant general counsel role. Up to now, he has been serving as the general counsel and secretary, the position he entered in 2001.
According to the NFA, the appointment of Thomas Sexton will come into effect on the first of March. Furthermore, Daniel Roth will cooperate closely with Mr. Sexton and the NFA’s board during the transition.
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