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Director of Enforcement Steps Down at CFTC

David Meister, director of the Division of Enforcement at the US Commodity Futures
Trading Commission (CFTC) has stepped down from the role.
Meister will be replaced by Gretchen Lowe, who is taking the role in an acting
capacity. Lowe is currently general counsel in the division, prior to which she was an
assistant director of enforcement for 11 years.

Meister, who will officially step down this month, led the division in bringing record
numbers of enforcement actions covering the full range of the CFTC’s authority,
including the first-ever charges under the Dodd-Frank Wall Street Reform and Consumer
Protection Act. He also led key Dodd-Frank enforcement rulemakings, such as the
prohibition against a wide range of manipulative and deceptive conduct, the
whistleblower rule, and the commission’s disruptive practices guidance.

“David has brought energy, talent and experience to our critical mission to protect the
public from fraud and abuse and ensure market integrity,” says CFTC chairman Gary
Gensler. “He is a tough but fair former federal prosecutor who will be missed by all at
the CFTC.”

Under Meister’s leadership, the CFTC’s Division of Enforcement has brought
hundreds of charges concerning the commodities, futures, swaps and other derivatives
markets against institutions and individuals on Wall Street and around the globe. He led
the prosecution of charges against several global financial institutions for the
manipulation of Libor that resulted in record CFTC penalties of just under $1.3 billion.

In addition, under his leadership the division brought charges of fraud, manipulation in
the oil and metals markets, unlawful uses of customer funds, failures of supervision,
deficient accounting and auditing, foreign exchange violations, false testimony and many
other violations of the Commodity Exchange Act and Commission rules. 

Paul Gogliormella

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