US SEC appoints new trading and markets director
04 June 2021 US
Image: stock.adobe.com/Kristina Blokhin
The US Securities and Exchange Commission (SEC) appointed David Saltiel acting director of the Division of Trading and Markets yesterday, replacing Christian Sabella.
As director of the Division of Trading and Markets, Saltiel will provide oversight of US securities exchanges, securities firms, self-regulatory organisations including the Financial Industry Regulatory Authority, clearing agencies that help facilitate trade settlement and transfer agents.
Saltiel joined the SEC in 2016, heading up the Office of Analytics and Research in the Division of Trading and Markets, which conducts quantitative research and data analysis to inform the SEC’s policies on markets and market structure.
Before joining the SEC, Saltiel was chief economist at the Municipal Securities Rulemaking Board, a self-regulatory organisation that writes investor protection rules regulating broker-dealers and banks in the United States municipal securities market and other securities issued by states, cities, counties or their agencies.
Under the leadership of the Biden administration, the SEC has begun to flex its regulatory muscles. In May, the SEC approved the registration of DTCC Data Repository, its first security-based swap data repository.
At the time, SEC chair Gary Gensler said the move fulfils an “important mandate” under the Dodd-Frank Act. “A centralised database of security-based swap transactions is an essential reform to better understand these markets, for surveillance and for enforcement.”
As director of the Division of Trading and Markets, Saltiel will provide oversight of US securities exchanges, securities firms, self-regulatory organisations including the Financial Industry Regulatory Authority, clearing agencies that help facilitate trade settlement and transfer agents.
Saltiel joined the SEC in 2016, heading up the Office of Analytics and Research in the Division of Trading and Markets, which conducts quantitative research and data analysis to inform the SEC’s policies on markets and market structure.
Before joining the SEC, Saltiel was chief economist at the Municipal Securities Rulemaking Board, a self-regulatory organisation that writes investor protection rules regulating broker-dealers and banks in the United States municipal securities market and other securities issued by states, cities, counties or their agencies.
Under the leadership of the Biden administration, the SEC has begun to flex its regulatory muscles. In May, the SEC approved the registration of DTCC Data Repository, its first security-based swap data repository.
At the time, SEC chair Gary Gensler said the move fulfils an “important mandate” under the Dodd-Frank Act. “A centralised database of security-based swap transactions is an essential reform to better understand these markets, for surveillance and for enforcement.”
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