WASHINGTON — The Commodity Futures Trading Commission has tapped Gary Barnett to serve as director of its new Division of Swap Dealer and Intermediary Oversight.
Barnett is currently a partner at Linklaters LLP in New York and heads its structured finance and derivatives practice.
"Gary Barnett comes to the CFTC with a vast knowledge of the swaps market," said CFTC chairman Gary Gensler. "His derivatives expertise will be essential to leading the CFTC's new division, which will be integral to implementing Dodd-Frank provisions that will lower the risk of the swaps market to the overall economy. The division also will provide necessary oversight of this market. I welcome him to our team and look forward to working with him."
The Dodd-Frank Act gave the CFTC increased regulatory oversight over interest rate swaps and other derivatives, including many muni-bond based swaps.
Barnett has represented clients in over-the-counter derivatives transactions and has been involved in the development and implementation of clearing systems for the derivatives markets, according to Linklaters.
He also has advised clients on the implementation of Dodd-Frank and other regulatory reforms affecting the derivatives and securitization markets.
Barnett has spent most of his time practicing law in New York. Before joining Linklaters in 2004, he was co-head of the Securitization and Derivatives Practice at Shearman & Sterling LLP. He practiced at that firm from 1999 through part of 2004. From 1995 through 1999 he was a partner at O'Melveny & Myers. Before that he was a partner at Cadwalader Wickerham & Taft from 1993 to 1995 and an associate at that firm from 1986 to 1992.
Barnett is a member of the New York, California, and Oklahoma bars. He received a bachelor of science degree in philosophy from the University of Tulsa in 1978, a law degree from the University of Tulsa College of Law in 1981, and a master of laws degree in securities and insolvency laws from the New York University School of Law in 1986.
