Commodity Futures Trading Commission acting Chairman Caroline D. Pham today issued the following statement on the passing of the Hon. William T. Bagley, the CFTC’s first chairman:
“Chairman Bagley was instrumental in laying the foundation for what has become the world’s preeminent derivatives regulator. As the first CFTC chairman, he shepherded our agency through its first years, executing on once-novel Congressional authorities and establishing a regulatory framework to expand risk mitigation tools for America’s growers, producers, builders and merchants. Fifty years after Chairman Bagley first opened the doors at the CFTC, this framework continues to be critical in driving the American economy forward. We celebrate Chairman Bagley’s life and legacy and owe him a debt of gratitude for his years of service to our markets, our economy, and our Nation. On behalf of the entire CFTC community, I extend my condolences to Chairman Bagley’s family.
