Jill E. Sommers was sworn in as a commissioner of the

Commodity Futures Trading Commission The Commodity Futures Trading Commission (CFTC) is an Independent agencies of the United States government, independent agency of the US government created in 1974 that regulates the U.S. derivatives markets, which includes futures contract, fut ...

on August 8, 2007 to a term that expired April 13, 2009. She was nominated on July 20, 2009 by President

Barack Obama Barack Hussein Obama II (born August 4, 1961) is an American politician who was the 44th president of the United States from 2009 to 2017. A member of the Democratic Party, he was the first African American president in American history. O ...

to serve a five-year second term., and confirmed by the United States Senate on October 8, 2009.

Commission posts

Global Markets Advisory Committee

On February 4, 2008 the commission appointed Sommers to serve as chairman and designated federal official of the Global Markets Advisory Committee, which meets periodically to discuss issues of concern to exchanges, firms, market users and the commission regarding the regulatory challenges of a global marketplace.

Financial Literacy and Education Commission

She also serves as the commission designee to the

Financial Literacy and Education Commission The Financial Literacy and Education Commission (the Commission) was established under Title V, the Financial Literacy and Education Improvement Act which was part of the Fair and Accurate Credit Transactions Act (FACT) Act of 2003, to improve fin ...

, which is chaired by the

secretary of the treasury The United States secretary of the treasury is the head of the United States Department of the Treasury, and is the chief financial officer of the federal government of the United States. The secretary of the treasury serves as the principal a ...

and was established to improve the financial literacy and education of U.S. citizens.

Career

Commissioner Sommers has worked in the commodity futures and options industry in a variety of capacities throughout her career. In 2005 she was the policy director and head of government affairs for the

International Swaps and Derivatives Association The International Swaps and Derivatives Association (ISDA ) is a trade organization of participants in the market for derivative (finance)#Over-the-counter derivatives, over-the-counter derivatives. It is headquartered in New York City, and has c ...

, where she worked on a number of over-the-counter derivatives issues. Prior to that, Sommers worked in the Government Affairs Office of the

Chicago Mercantile Exchange The Chicago Mercantile Exchange (CME) (often called "the Chicago Merc", or "the Merc") is an American derivatives marketplace based in Chicago and located at 20 S. Wacker Drive. The CME was founded in 1898 as the Chicago Butter and Egg Board ...

(CME), where she was instrumental in overseeing regulatory and legislative affairs for the exchange. During her tenure with the CME, she had the opportunity to work closely with congressional staff drafting the

Commodity Futures Modernization Act of 2000 The Commodity Futures Modernization Act of 2000 (CFMA) is a United States federal law that ensures that Over-the-counter (finance), over-the-counter (OTC) Derivative (finance), derivatives remained Financial regulation, unregulated. Commodity Ex ...

. Sommers started her career in Washington in 1991 as an intern for Senator

Robert J. Dole Robert Joseph Dole (July 22, 1923 – December 5, 2021) was an American politician and attorney who represented Kansas in the United States Senate from 1969 to 1996. He was the Republican Leader of the Senate during the final 11 years of his ...

(R-KS), working in various capacities until 1995. She later worked as a legislative aide for two consulting firms specializing in agricultural issues, Clark & Muldoon, P.C. and Taggart and Associates.

Personal information

A native of

Fort Scott, Kansas Fort Scott is a city in and the county seat of Bourbon County, Kansas, Bourbon County, Kansas, United States. As of the 2020 United States census, 2020 census, the population of the city was 7,552. It is named for Gen. Winfield Scott. The cit ...

, Sommers holds a bachelor of arts degree from the

University of Kansas The University of Kansas (KU) is a public research university with its main campus in Lawrence, Kansas, United States. Two branch campuses are in the Kansas City metropolitan area on the Kansas side: the university's medical school and hospital ...

. Her husband, Mike Sommers, is president and CEO of the

American Petroleum Institute The American Petroleum Institute (API) is the largest U.S. trade association for the oil and natural gas industry. It claims to represent nearly 600 corporations involved in extraction of petroleum, production, oil refinery, refinement, pipeline ...

and former

chief of staff The title chief of staff (or head of staff) identifies the leader of a complex organization such as the armed forces, institution, or body of persons and it also may identify a principal staff officer (PSO), who is the coordinator of the supportin ...

Speaker of the United States House of Representatives The speaker of the United States House of Representatives, commonly known as the speaker of the House or House speaker, is the Speaker (politics), presiding officer of the United States House of Representatives, the lower chamber of the United ...

John Boehner John Andrew Boehner ( ; born , 1949) is an American politician who served as the 53rd speaker of the United States House of Representatives from 2011 to 2015. A member of the Republican Party, he served 13 terms as the U.S. representative ...

References

External links

Commodity Futures Trading Commission Website
{{DEFAULTSORT:Sommers, Jill E. Living people Commodity Futures Trading Commission personnel University of Kansas alumni 1969 births George W. Bush administration personnel Obama administration personnel