Another former aide to Mary Schapiro takes up a new leadership role at the Securities and Exchange Commission.
John Ramsay will takeover for Robert Cook as acting director of the Division of Trading and Markets.
Ramsay has served as a deputy director for the division since September 2010, overseeing broker-dealer financial responsibility, risk oversight, and clearance and settlement functions. He has also played a key role in the advancement of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Cook announced that he plans to step down from his position after a short transition period.
"John... is well-positioned to oversee the Division as we continue to further bolster the markets and ensure they operate fairly and efficiently.," newly appointed Chairwoman Elisse Walter said in a SEC press release.
"This is an extraordinary time for the Division and our markets," Ramsay added.
Prior to 2010, Ramsay worked at various posts at the SEC from 1989 to 1994, including serving as counsel to then-Commissioner Schapiro. Besides other regulatory policy positions at the Commodity Futures Trading Commission and the National Association of Securities Dealers (now the Financial Industry Regulatory Authority), Ramsay has also worked in the private sector 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.
Entities the Division of Trading and Markets regulates include broker-dealers, transfer agents, and self-regulatory organizations — such as securities exchanges, the Financial Industry Regulatory Authority, and clearing agencies. It also oversees security-based swap markets and their participants.