The US Securities and Exchange Commission (SEC) has appointed a senior derivatives lawmaker as an associate director for the Office of Clearing and Settlement.
Jeffrey Mooney takes on the role are serving as the assistant director for the Office of Clearance and Settlement, and over the years has been a senior policy maker for rules regarding clearing agencies and security-based swap data repositories.
Mooney also served as a senior special counsel in the division from 2000 to 2009, and participated in an inter-agency effort to develop rules on OTC derivatives reporting under the Dodd Frank Act.
He also represented the agency in domestic and international working groups designed to improve the clearing and settlement process, and was part of the regulatory team responsible for the US transition to a T+2 settlement cycle in 2017.
“Our markets and investors will be well served by Jeff’s more than two decades of public service – including 22 years at the SEC – and his deep experience on a broad range of clearance and settlement matters,” said Jay Clayton, chairman, SEC.
The Office of Clearance and Settlement, which sits within the agency’s Division of Trading and Markets, is responsible for developing and administering the Commission’s regulatory programme for the national system of clearing and settlement of securities.
It also oversees the systemically important financial market utilities and security-based swap clearing activities, and engages in rulemaking and other supervisory policy matters for clearing agencies, transfer agents and swap data repositories.