Acting Chairman Rostin Behnam – CFTC Regulatory Perspectives on Crypto and Climate (Capital Allocators, EP.178)

Capital Allocators – Inside the Institutional Investment Industry

Ted Seides – Allocator and Asset Management Expert

Investing, Capitalallocation, Business

4.8 • 806 Ratings

🗓️ 22 February 2021

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

Rostin Behnam is the Acting Chairman of the Commodities Futures Trading Commission. He was nominated and approved by the prior administration in 2017 to serve as one of five Commissioners of the CFTC and in January, accepted the role as Acting Chairman.

The CFTC has a mission to promote the integrity, resilience, and vibrancy of the U.S. derivatives markets, working towards effective price discovery and risk management in fair and transparent markets. As a part of his role, Russ sponsors the CFTC’s Market Risk Advisory Committee.

Our conversation covers the history, function and process of the CFTC and the Acting Chair’s path to the seat. We then discuss his perspective on crypto assets and dive into an exhaustive policy piece published last fall by his Market Risk Advisory Committee entitled “Managing Climate Risk in the Financial System.” The document is positioned to become the leading regulatory policy manual on financial climate risk for the new administration.

Our conversation took place shortly before Russ rose to Acting Chairman and before the wild market volatility in recent weeks. We touched base about his perspective, but the situation is too fluid for a public response. Acting Chairman Behnam released brief statement about the silver markets that said, “The CFTC is closely monitoring recent activity in the silver markets. The Commission is communicating with fellow regulators, the exchanges, and stakeholders to address any potential threats to the integrity of the derivatives markets for silver, and remains vigilant in surveilling these markets for fraud and manipulation.” Stay tuned, as the subject may well be fodder for another conversation down the road.

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Transcript

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0:00.0	Hello, I'm Ted Sides, and this is Capital Allocators.
0:10.1	This show is an open exploration of the people and process behind capital allocation.
0:16.3	Through conversations with leaders in the money game, we learn how these holders of the keys to the
0:21.7	kingdom allocate their time and their capital. You can keep up to date by visiting
0:26.8	Capital Allocatorspodcast.com. My guest on today's show is Rosten Benham, the acting chairman
0:36.0	of the Commodities Futures Trading Commission.
0:39.3	Russ was nominated and approved by the prior administration in 2017 to serve as one of five
0:45.4	commissioners of the CFTC, and in January, he accepted the role as acting chairman.
0:51.7	The CFDC has a mission to promote the integrity, resilience, and
0:56.0	vibrancy of the U.S. derivatives markets, working towards effective price discovery and
1:01.3	risk management in fair and transparent markets. As a part of his role, Russ sponsors the
1:07.1	CFTC's Market Risk Advisory Committee.
1:17.1	Our conversation covers the history, function, and process of the CFTC and the acting chair's path to the seat.
1:18.8	We then discuss his perspective on crypto assets and dive into an exhaustive policy piece
1:24.3	published last fall by his Market Risk Advisory Committee entitled
1:28.6	Managing Climate Risk in the Financial System.
1:32.0	The document is positioned to become the leading regulatory policy manual on financial
1:37.1	climate risk for the new administration.
1:40.1	This conversation took place shortly before Russ rose to acting chairman and before the wild market
1:45.9	volatility in recent weeks. We touched base about his perspective, but the situation is too
1:51.4	fluid for a public response. Acting Chairman Venom released a brief statement about the silver
1:56.8	markets that said the CFTC is closely monitoring recent activity in the silver markets.
	...

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