The Futures and Options Association has tapped Blake Stephenson as manager of regulation.
Stephenson joins the UK-based FOA from the Financial Services Authority where he was part of the exchange supervision team. He is also a qualified solicitor.
At the same time, Simon Andrews has been promoted to director of commodities, a new role which will see him spearhead the FOA’s increased activities in this sector. Andrews has been with the FOA for six years and has additional oversight of prudential regulation and taxation issues.
Both Andrews and Stephenson report to Kathleen Traynor, executive director of regulation, who will manage the FOA’s priorities within the regulatory area.
According to the FOA, the formation of the strengthened team is recognition of the impact of the growing regulatory workload facing the exchange traded derivatives industry. “Whether it is analyzing of the impact of MiFID/MiFIR or understanding the full implications of ESMA’s work program, the FOA must have the capacity to help steer its members through the regulatory change agenda while sustaining industry growth and enhancing market integrity,” says FOA chief executive Anthony Belchambers. “These appointments reflect the importance of that activity.”