IEX today announced that John Ramsay, until recently the Acting Director of the Securities and Exchange Commission's Division of Trading and Markets, is joining the company as its Chief Market Policy and Regulatory Officer.
In this role, he will work with a broad range of constituents, including investors, broker-dealers, trading venues, and governmental and regulatory authorities, to advance the company's investor and industry engagement objectives and will oversee the company's compliance with its regulatory obligations and its self-regulatory obligations, once IEX is registered as a national securities exchange.
Brad Katsuyama, Chief Executive Officer and Co-Founder of IEX said, "We are honored by John's decision to join our team at IEX, especially given the numerous opportunities available to him since leaving his senior position at the SEC. Industry dialogue and education are paramount for IEX, and we are excited to have John represent our company as part of our executive team. From our first meeting, it was apparent to us that our collective vision of the future of the equity markets was aligned and he was a perfect fit to help us achieve our goals."
Mr. Ramsay has 25 years experience in positions that concern the regulation and oversight of securities markets and intermediaries. While at the SEC since 2010, Mr. Ramsay led the staff's response to numerous significant market events, its participation in global regulatory initiatives, the development of new analytical tools for equity market oversight, and the proposal for Regulation SCI. He also led SEC efforts to implement significant elements of the Dodd-Frank Wall Street Reform and Consumer Protection Act, including the Volcker Rule and derivatives reform rules. From December 2012 to February 2014, Mr. Ramsay oversaw the Division of Trading and Markets, the group responsible for regulating broker-dealers and self-regulatory organizations, such as securities exchanges and FINRA.
Mr. Ramsay said, "I am excited to join the visionary and talented team at IEX. Trading in our equity markets is too complicated, too opaque, and too much affected by conflicts that work against the interests of investors. IEX is creating a market-based response to these problems, and I am proud to become part of their team in advancing this agenda."
Mr. Ramsay previously worked for the SEC from 1989-1994 in the Division of Market Regulation and as Counsel to then Acting Chairman Mary Schapiro and also worked in key positions under Ms. Schapiro at the Commodity Futures Trading Commission and the National Association of Securities Dealers, now FINRA. He has also practiced as a partner in private law practice, as a senior officer at the Bond Market Association, and as Managing Director and Deputy General Counsel at Citigroup Global Markets. He received his J.D. from the University of Michigan and graduated summa cum laude from the University of Texas, where he was elected to Phi Beta Kappa.