Philip McBride Johnson: Made CFTC master of its own domain

摘要

Philip McBride Johnson says, without a doubt, his greatest economic contribution to the history of futures was helping the Commodity Futures Trading Commission (CFTC) win exclusive regulatory jurisdiction in commodities trading — in which he played the leading role in securing by drafting key jurisdictional provisions of the Commodity Futures Trading Commission Act of 1974 that made the CFTC the sole regulator of the U.S. futures industry. "That was absolutely critical," he says. Johnson, who heads the exchange-traded commodities, futures and derivative products practice group at Skadden, Arps, Slate, Meagher & Flom LLP, has devoted nearly all of his 45 years in the practice of law to the U.S. laws, regulations and agencies governing the markets in futures contracts, options, swaps and other derivative instruments.