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Bats appoints general counsel to manage exchange application

18 January 2008  |  1609 views  |  0 Source: BATS Trading

BATS Trading Inc. hired Eric Swanson as general counsel and said that his primary initial responsibilities will be working with the Securities and Exchange Commission as BATS seeks SEC approval of its exchange application.

Mr. Swanson has a significant history with the SEC, having served at the Commission from 1996-2006 and rising to the title of Assistant Director in the Office of Compliance Inspections and Examinations' market oversight unit in Washington. His duties included supervising the Commission's inspection program responsible for regulatory oversight of trading on the securities exchanges and ECNs.

"We're excited to add Eric to our growing team and look forward to his contributions as we move towards Exchange status," said Chief Executive Joe Ratterman, noting that Mr. Swanson will report directly to him. "With his strong background and knowledge of the SEC and market centers, Eric is the ideal individual to work with the Commission during this process."

During his tenure at the SEC, Mr. Swanson supervised and conducted inspections and examinations that involved a wide range of issues including best execution, order handling, insider trading, market manipulation, and compliance with Regulation ATS. In addition, Mr. Swanson was responsible for the identification of regulatory risks and the development of parameters for surveillance and examination programs.

A frequent speaker at securities industry functions, Mr. Swanson was most recently chief counsel and vice president of regulatory strategy at Ameriprise Financial. He graduated from the University of Minnesota and earned his law degree at Hamline University School of Law in St. Paul, Minn.

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