December 18, 2012 / 10:57 AM / in 5 years

U.S. SEC names John Ramsay head of trading and markets division

(Reuters) - The U.S. Securities and Exchange Commission said on Monday it has named John Ramsay as acting director of the regulator’s Division of Trading and Markets.

Ramsay, who had served as a deputy director of the division, overseeing broker-dealer financial responsibility, risk oversight, and clearance and settlement functions, replaces Robert Cook, who said on Wednesday he planned to step down.

The SEC is making the final push on a raft of rules required by the 2010 Dodd-Frank financial reform law, while also working on initiatives like money market fund reform and looking into questionable tactics and practices related to computerized trading.

Ramsay has been a key player in the advancement of the Dodd-Frank rules since September 2010.

The Division of Trading and Markets oversees securities exchanges and markets, broker-dealers, clearing agencies, derivatives, and FINRA, the Financial Industry Regulatory Authority.

Apart from two stints at the SEC, Ramsay has also held regulatory policy positions at the Commodity Futures Trading Commission and what is now FINRA. He also formerly worked as a partner at the law firm of Morgan, Lewis and Bockius, and as managing director and deputy general counsel at Citigroup Global Markets.

Cook is one of several senior SEC officials, including Agency Chairman Mary Schapiro, who have announced plans to step down in recent weeks.

Reporting By John McCrank in New York; Editing by Nick Zieminski

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