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US SEC Names CFTC Commissioner Dan Berkovitz as Incoming Normal Counsel

Written by James Smith

Extra management modifications are coming to the USA Securities and Alternate Fee (SEC) because the market regulator has introduced Dan Berkovitz as the following Normal Counsel for the company.

In a double announcement on Tuesday, the market regulator stated its present Normal Counsel, John Coates, will depart the company in October, opening the door for Berkovitz, one of many Commissioners with the Commodity Futures Buying and selling Fee (CFTC). Berkovitz’s tenure is billed to start in November.

Berkovitz will carry his expertise into the SEC after serving each in private and non-private sectors with considered one of his roles notably as a co-chair of the futures and derivatives observe on the regulation agency of WilmerHale. Similar to SEC Chairman Gary Gensler, who had had an instructional function at MIT previous to his ascension to the reins of affairs, Berkovitz additionally has expertise as an Adjunct Professor at Georgetown College Legislation College.

“I’m honoured to hitch the SEC at this vital time for our capital markets,” Berkovitz stated. “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.”

Together with his direct notion concerning the cryptocurrency ecosystem not well-known, the emergence of Berkovitz might spell numerous 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 business with the help of Congress, Berkovitz can be instrumental in facilitating one of many SEC’s approaches which embody inter-governmental company interplay. 

Previous to the beginning of Berkovitz’s time period, the SEC stated Michael Conley, at present the SEC’s Solicitor, will function Performing Normal Counsel upon Coates’s departure.

Picture supply: Bloomberg.com


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James Smith

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