Svmuureports that U.S. Commodity Futures Trading Commission (CFTC) Chairman Michael S. Selig announced the appointment of Dr. Patrick J. Schorno as the agency's Chief Economist. In this role, he will provide economic advisory support to the Commission and integrate regulatory cost-benefit analysis and related research work. It is reported that this appointment aims to strengthen economic analysis capabilities for the U.S. derivatives market, enhance the transparency and scientific rigor of regulatory policies, and support ongoing regulatory coordination efforts with the U.S. Securities and Exchange Commission (SEC).
Dr. Schorno previously served as Deputy Chief Economist at the Public Company Accounting Oversight Board (PCAOB), held the position of Executive Director at Ally Financial, and worked as a Financial Economist at the Federal Reserve Bank of Richmond. His research has been published in journals such as the Journal of Banking & Finance, the Journal of Financial Intermediation, and the Journal of Corporate Finance.
The CFTC stated that this appointment will further enhance its economic analysis capabilities in the formulation of financial regulatory policies.