FOR IMMEDIATE RELEASE
Washington, D.C., Dec. 17, 2012 — Securities and Exchange Commission Chairman Elisse B. Walter today named John Ramsay as Acting Director of the Division of Trading and Markets. He will replace Robert Cook, who announced that he plans to step down after a short transition period.
Since September 2010, Mr. Ramsay has served as a Deputy Director for the Division and is responsible for broker-dealer financial responsibility, risk oversight, and clearance and settlement functions. He has played a key role in the advancement of rules mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
"John has a wealth of experience to draw upon and a firm grasp of the intricacies of issues," said Chairman Walter. "He is well-positioned to oversee the Division as we continue to further bolster the markets and ensure they operate fairly and efficiently."
Mr. Ramsay said, "I´m pleased to have the chance in this role to support Chairman Walter and the other Commissioners and to carry forward the vital work of the Division that Robert and my colleagues here have done so much to advance. This is an extraordinary time for the Division and our markets, and I work with an extraordinary group of people."
The Division of Trading and Markets establishes and maintains standards for fair, orderly, and efficient markets. The Division regulates the major securities market participants, including broker-dealers, transfer agents, and self-regulatory organizations such as securities exchanges, the Financial Industry Regulatory Authority, and clearing agencies. The Division also has responsibility for oversight of security-based swap markets and participants in such markets.
Mr. Ramsay previously worked at the SEC from 1989 to 1994 in various posts including as counsel to then-Commissioner Mary L. Schapiro. He also has held other key regulatory policy positions at the Commodity Futures Trading Commission and the National Association of Securities Dealers (now the Financial Industry Regulatory Authority). In the private sector, Mr. Ramsay worked as a partner at the law firm of Morgan Lewis and Bockius, senior vice president of the Bond Market Association (now the Securities Industry and Financial Markets Association), and managing director and deputy general counsel at Citigroup Global Markets.
Mr. Ramsay received his J.D. from the University of Michigan in 1984 and graduated summa cum laude from the University of Texas at Austin in 1981, where he was elected to Phi Beta Kappa.