Home Crypto US SEC Names CFTC Commissioner Dan Berkovitz as Incoming General Counsel

US SEC Names CFTC Commissioner Dan Berkovitz as Incoming General Counsel

More management modifications are coming to the United States Securities and Exchange Commission (SEC) as the market regulator has introduced Dan Berkovitz as the subsequent General Counsel for the company.

In a double announcement on Tuesday, the market regulator mentioned its present General Counsel, John Coates, will depart the company in October, opening the door for Berkovitz, one of many Commissioners with the Commodity Futures Trading Commission (CFTC). Berkovitz’s tenure is billed to begin in November.

Berkovitz will convey his expertise into the SEC after serving each in private and non-private sectors with one in all his roles notably as a co-chair of the futures and derivatives follow on the legislation agency of WilmerHale. Just like SEC Chairman Gary Gensler, who had had an educational position at MIT previous to his ascension to the reins of affairs, Berkovitz additionally has expertise as an Adjunct Professor at Georgetown University Law School.

“I’m honoured to affix the SEC at this vital time for our capital markets,” Berkovitz mentioned. “Having labored with the SEC in my roles on the CFTC, I’ve lengthy admired the devoted and gifted workers of the company from afar. I’m excited to work once more with Chair Gensler on a regulatory agenda that may improve investor safety, strengthen our capital markets, and facilitate capital formation.”

With his direct notion concerning the cryptocurrency ecosystem not well-known, the emergence of Berkovitz might spell quite a lot of modifications for the nascent ecosystem as demand for regulatory readability is being sought by stakeholders within the ecosystem. With Chairman Gensler notably poised to work in serving to to chart the regulatory course for the crypto trade with the help of Congress, Berkovitz will probably be instrumental in facilitating one of many SEC’s approaches which embody inter-governmental company interplay. 

Prior to the beginning of Berkovitz’s time period, the SEC mentioned Michael Conley, at present the SEC’s Solicitor, will serve as Acting General Counsel upon Coates’s departure.

Image supply: Bloomberg.com

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