Caroline D. Pham was sworn in as a CFTC Commissioner on April 14, 2022, after being nominated by President Biden and unanimously confirmed by the U.S. Senate. Commissioner Pham is an internationally recognized leader in financial services compliance and regulatory strategy and policy, with deep expertise in derivatives and capital markets and emerging issues such as digital innovation. Her substantial experience spans key international issues such as prudential regulation and systemic risk, financial markets including currencies and commodities, fintech and digital assets, ESG, and the impact of major disruptions like the savings and loan crisis, the 2008 great financial crisis, and the COVID-19 pandemic. Commissioner Pham is the sponsor of the CFTC’s Global Markets Advisory Committee.
Caroline Pham
Prior to her appointment, Commissioner Pham advised boards of directors, executive and senior management, policymakers and regulators, and industry leaders on changes to the regulatory landscape and implications and risks of emerging issues, trends, and economic and market developments to the global financial system, markets, and banking. Her engagement includes international standard setters such as the Financial Stability Board (FSB), International Organization of Securities Commissions (IOSCO), Basel Committee on Banking Supervision (BCBS), and Bank for International Settlements (BIS), as well as central banks, government ministries, regulators, and other stakeholders across North America, Latin America, United Kingdom, Europe, Middle East and Africa, and Asia-Pacific regions.
Commissioner Pham was previously a managing director at a large global financial institution where she served on firm-wide governance forums and held various senior roles in the chief administrative office, legal, compliance, and the institutional clients group, including as head of capital markets regulatory strategy and engagement; deputy head of global regulatory affairs; global head of swap dealer and Volcker compliance; and most recently, head of market structure for strategic initiatives, working closely with innovation, strategic investment, and business and product development teams on digital assets and other opportunities. She has built global programs and teams and led initiatives for implementation of the Dodd-Frank Act and other global regulatory reforms, including the design of compliance risk management, governance, and oversight frameworks and policies and procedures across all institutional and retail businesses. She also had oversight of U.S. regulatory change management for global markets, including rates and currencies, credit, securitized markets, commodities, municipal securities, equities, and financial market infrastructures.