The CFTC chair, Christopher Giancarlo, has named James (Jamie) McDonald as the agency’s Director of Enforcement.
“Jamie McDonald’s appointment as the Director of the Enforcement Division is a signal to those who may seek to cheat or manipulate U.S. markets that there will be no pause, no let up and no relaxation in the CFTC’s mission to enforce the law and punish wrongdoing,” said Acting Chairman Giancarlo. “Mr. McDonald is an accomplished Federal prosecutor and skilled agent of American law enforcement, and I am pleased he will take over this important job.” Giancarlo added, “I am grateful for Vince McGonagle’s service as Acting Director of Enforcement and delighted that he will continue his fine work at the Commission under Mr. McDonald.”
As the Director of Enforcement, McDonald will be tasked with investigating wrongdoers in the derivatives market.
The CFTC had several high-profile investigations in the last year, namely that of Global Brokerage Inc. which had to rebrand itself from FXCM after the CFTC announced its findings in February 2017.
McDonald comes to the CFTC from the US Attorney’s Office for the Southern District of New York.
The US Attorney there, until recently, was Preet Bharara, who made a name for himself prosecuting not only several high-profile politicians but numerous securities fraudsters, including several prosecutions in the Bernie Madoff Ponzi scheme scandal.
“I’m excited to join the CFTC at this time in its history, when vigorous enforcement is more important than ever,” Mr. McDonald said. “I am thankful to Acting Chairman Giancarlo for giving me this opportunity, and to Vince McGonagle and Aitan Goelman whose work we are committed to continuing, and building on, in the coming years. I look forward to working alongside the tremendous staff in the Division to help the CFTC protect the integrity of the derivatives, futures, and swaps markets during this important time.”
Originally from Tulsa, Oklahoma, Mr. McDonald has also served as a visiting professor at the University of Tulsa College of Law, where he taught Constitutional Law, Federal Courts, Foreign Relations Law, and Supreme Court Decision making.
McDonald also served as a clerk to US Supreme Court Justice John Roberts.