Jill E. Sommers is a Senior Advisor at Patomak.
Ms. Sommers puts her decades of experience in futures, options, swaps, and exchange issues to work advising clients on how to navigate the regulatory regime in place at the CFTC as a result of the Dodd-Frank Act. Her work spans CFTC Title VII rulemakings, swaps rules, position limits, and end-user and commodity pool operator issues. Based on her experience as a CFTC Commissioner, Ms. Sommers also advises companies on how to work with regulators to promote a more efficient, workable regulatory regime.
Ms. Sommers was nominated by both President George W. Bush and President Barack Obama, confirmed twice by the United States Senate and served two consecutive terms as a Commissioner of the Commodity Futures Trading Commission. She ended her six years of service on July 8, 2013.
During her time at the agency, Commissioner Sommers was a consistent advocate for common sense regulation that included a thorough cost benefit analysis. In November of 2011, Sommers was named senior Commissioner with respect to MF Global matters, including overseeing the enforcement division’s investigation and ultimate filing of charges against both the companies as well as senior MF Global executives. Commissioner Sommers served as Chairman and Designated Federal Official of the Commission’s Global Markets Advisory Committee (GMAC), which discussed the regulatory challenges of a global marketplace.
She also had the opportunity to represent the United States throughout the world working with regulators from over 100 countries as the Commission Representative to the Technical Committee meetings of the International Organization of Securities Commissions (IOSCO).
Ms. Sommers has worked in a variety of capacities within the derivatives industry throughout her career, including as Policy Director and Head of Government Affairs for the International Swaps and Derivatives Association (ISDA) and Managing Director of Regulatory Affairs for the Chicago Mercantile Exchange.
A native of Kansas, Ms. Sommers graduated from the University of Kansas and started her career in Washington in 1991 working for Senator Robert J. Dole (R-KS). She has continued her engagement with Members of Congress and federal regulators on a variety of financial and commodity industry issues over the past twenty-five years.
Currently, she serves as a member of the Board of Directors and Chair of the Audit Committee for BATS exchanges, each a U.S. national security exchange owned and operated by BATS Global Markets, Inc., a Director on the Ethics Research Board, a non- profit organization that empowers its members across the globe to operate their businesses at the highest levels of integrity, a member of the Advisory Board of Green Key Technologies, a technology provider of voice driven collaboration platforms for financial market participants, and as a senior advisor to Patomak Global Partners, a financial services consultancy group based in Washington, D.C.
She and her husband Mike currently reside in the Washington, DC area and have three children ages 14, 13 and 12.