CHICAGO, May 28, 2015 (GLOBE NEWSWIRE) -- via PRWEB - OCC, the world's largest equity derivatives clearing organization, announced today that Joseph Kamnik, currently the firm's Vice President and Chief Regulatory Counsel, has been promoted to Senior Vice President and General Counsel, effective June 1. Kamnik will oversee OCC's legal and regulatory affairs, and provide counsel on a broad range of legal matters to OCC's management and board of directors. He will report to Craig Donohue, Executive Chairman.
In his previous role as Vice President and Chief Regulatory Counsel, Kamnik was responsible for working with and effectuating OCC policies with the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission, and the Board of Governors of the Federal Reserve in OCC's role as a SIFMU. He also was responsible for increasing OCC's level of engagement with international regulators. Kamnik joined OCC in October 2014.
Previously, Kamnik was Assistant Director in the SEC's Division of Trading and Markets, Office of Clearing and Settlements, where from 2012 to 2014 he developed and supervised teams responsible for overseeing securities and security-based swaps clearing agencies registered with the SEC, including four clearing agencies designated systemically important by the Financial Stability Oversight Council. Kamnik also developed and implemented the SEC framework to review proposed changes filed by systemically important financial market utilities pursuant to Title VIII of the Dodd-Frank Act. He started at the SEC in 2005 as an Attorney-Advisor. Kamnik also worked as an Associate for the law firm of Akin Gump Strauss Hauer & Feld in Washington, D.C. from 2002-2005.
"Joe brings more than a decade of experience in formulating regulatory policy and regulating systemically important financial market utilities like OCC," said Donohue. "This is a critical and important role for OCC as a foundation for secure markets, and the depth of Joe's regulatory experience will benefit our firm as we strive to meet the heightened expectations of regulators in our role as a SIFMU."
Kamnik received a B.A. from Susquehanna University and a J.D from the University of Pennsylvania Law School.
Donohue also announced that Jean Cawley, Senior Vice President and Deputy General Counsel, and who had been serving as Acting General Counsel, has accepted the role of Senior Vice President and Corporate Secretary. In this role, Cawley will work with the General Counsel and Executive Chairman and will be responsible for maintaining OCC's governance principles and framework as well as advising directors on their duties to ensure compliance with OCC by-laws.
About OCC
OCC is the world's largest equity derivatives clearing organization. Founded in 1973, OCC operates under the jurisdiction of both the Securities and Exchange Commission (SEC) as a Registered Clearing Agency and the Commodity Futures Trading Commission (CFTC) as a Derivatives Clearing Organization. OCC now provides central counterparty (CCP) clearing and settlement services to 16 exchanges and trading platforms for options, financial futures, security futures and securities lending transactions. More information about OCC is available at http://www.theocc.com.
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