General Counsel of the CFTC Stepping Down

Todd Ruger

Legal Times

03-12-2013

The general counsel of the Commodity Futures Trading Commission, Dan Berkovitz, announced he will be leaving the at the end of March, after more than three years of guiding the Dodd-Frank Act through the rulemaking process and court challenges.

The announcement on the CFTC's website said Berkovitz has not announced his next career move, and he did not immediately return a call for comment. He joined the CFTC in June 2009, and counseled the agency's chairman, Gary Gensler, and commissioners during the passage and implementation of the law, formally known as the Dodd-Frank Wall Street Reform and Consumer Protection Act.

While at the CFTC, Berkovitz led the legal review of 55 proposed and 43 final rules for the implementation of the Dodd-Frank Act, the agency said. He also managed the legal defense of the rules when challenged in federal district and appellate courts.

"It has been an honor and a privilege to work with Chairman Gensler, the Commissioners and the staff of the Commission during such a transformational period for the CFTC and the financial markets," Berkovitz said in the statement. "I am particularly grateful for the opportunity to work on the Dodd-Frank legislation on behalf of the Commission and the extraordinary efforts by the Commission and staff over the past several years to implement that legislation."

Berkovitz has a deep history in markets and energy issues, according to the CFTC. As counsel to the Senate Permanent Subcommittee on Investigations, he led several investigations into the operation and regulation of energy markets and trading.

While on Capitol Hill, he also was a lead staff negotiator for changes in the 2008 Farm Bill that allowed the Commodity Exchange Act to regulate electronic trading of swaps in energy commodities.

During the Clinton administration, Berkovitz was the deputy assistant secretary for planning, policy, and budget in the Department of Energy's environmental management program to clean up nuclear and hazardous wastes. He also was counsel to the Senate Subcommittee on Nuclear Regulation. His legal career began in the U.S. Nuclear Regulatory Commission general counsel's office.

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