Rostin Behnam was sworn in as the CFTC’s 15th Chairman on January 4, 2022, following nomination by President Biden and unanimous confirmation by the U.S. Senate.
Chairman Behnam previously served as CFTC Commissioner beginning September, 2017, and as Acting Chairman effective January 21, 2021. Since joining the CFTC, Chairman Behnam individually and as sponsor of the CFTC’s Market Risk Advisory Committee (MRAC) advocated for the CFTC’s use of authority and expertise towards ensuring the derivatives markets operate transparently and fairly for participants and customers. Through his MRAC sponsorship, Chairman Behnam convened leading market experts and public interest groups to engage in public dialogue on such timely issues as global interest rate benchmark reform, central counterparty (CCP) risk and governance, and since the summer of 2019, climate-related market risk.
Chairman Behnam led the creation of the Climate-Related Market Risk Subcommittee to examine climate-related impacts on the financial system. The Subcommittee’s efforts resulted in the September 2020 release of the report Managing Climate Risk in the U.S. Financial System, the first of-its-kind effort from a U.S. government entity.
Chairman Behnam’s arrival at the CFTC followed extensive experiences in financial markets policy. As Senior Counsel to Senator Debbie Stabenow of Michigan, his major responsibilities included the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act and related policy matters affecting the Treasury Department, the U.S. prudential regulators, and the Securities and Exchange Commission.
Prior to his work in the U.S. Senate, Chairman Behnam held several positions in financial markets and financial market regulation and compliance, including as a proprietary equities trader in New York City, an Investigator at the N.J. Bureau of Securities, within the state’s Office of the Attorney General, and private practice, focusing on corporate and transactional law.
Chairman Behnam received his A.B. from Georgetown University and law degree from the Syracuse University College of Law. Chairman Behnam lives in Baltimore with his wife and three daughters.