Chair of the Derivatives Practice Group
Ms. Sommers brings almost three decades of experience in the derivatives industry and has a deep expertise in listed derivatives and swaps regulations under Title VII of the Dodd-Frank Act.
Based on her experience at the Commodity Futures Trading Commission (CFTC), Ms. Sommers advises companies on compliance issues and how to work with regulators to promote a more efficient and workable regulatory regime.
Ms. Sommers served two consecutive terms as a CFTC Commissioner from 2007 to 2013. She served as Chairman and Designated Federal Official of the Global Markets Advisory Committee, which discussed the regulatory challenges of a global marketplace. She had the opportunity to represent the United States internationally, working with regulators from over 100 countries as a Commission Representative to the Technical Committee meetings of the International Organization of Securities Commissions.
She has served on the boards of both the Securities and Exchange Commission and CFTC regulated exchanges and as an independent director for the National Futures Association. She has held a variety of roles within the industry, including as Policy Director and Head of Government Affairs for the International Swaps and Derivatives Association and Managing Director of Regulatory Affairs for the Chicago Mercantile Exchange.
A native of Kansas, Ms. Sommers graduated from the University of Kansas and started her career working for Senator Robert J. Dole (R-KS). She has continued her engagement with members of Congress and federal regulators on a variety of financial and commodity industry issues. She currently serves on the boards of Everybody Wins! D.C., and the Ethics & Compliance Initiative.
- CFTC Proposes Amendments to Reporting Requirements Including a 37% Increase in the Number of Reportable Fields
- Proposed FSOC Guidance Could Lead to Bank-like Regulation for Asset Managers, Private Funds, and Non-bank Mortgage Companies – as well as New Federal Regulatory Frameworks for Digital Assets and Payment Activities
- Swap Dealers Face Further Enforcement Orders in 2022
- RealClearMarkets: Mark-to-Market Taxation Will Harm Us All
- 2020 Enforcement Guidance
- Central Counterparty Clearing; A New White Paper Serves as a Useful Foundation for the Ongoing Regulatory Dialogue
- The CFTC Votes to Provide Firms More Time and Clarity Around Initial Margin for Uncleared Swaps
- Upcoming CFTC Meeting may Bring Margin of Relief