CFTC Division of Swap Dealer and Intermediary Oversight ("DSIO") Director Matthew Kulkin will leave the CFTC this summer, according to an agency press release.
Mr. Kulkin assumed leadership of the DSIO in 2017. During his tenure, he was responsible for numerous actions, including:
- the $8 billion swap dealer de minimis threshold;
- numerous Project KISS rulemakings;
- implementation of the Volcker Rule and proposed amendments (" Volcker 2.0");
- several substituted compliance determinations for foreign jurisdictions;
- preparations in the event of a "no-deal" Brexit;
- staff no-action relief to reduce regulatory burdens;
- cryptocurrency and distributed ledger technology initiatives, including bitcoin futures contracts; and
- preparations for "Phase Five" of the implementation of swaps initial margin requirements in 2020.
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