The CFTC Observer Podcast: An Agency-Outsider's Perspective of the Derivatives Industry

In this episode, Walt Lukken, former Commissioner and Acting Chairman of the CFTC and current President & CEO of FIA, sits down with guest host Elie Mishory to discuss, among other topics, his experience as a former acting chairman of the CFTC, the FIA and its upcoming headline annual conference FIA Boca, what industry may expect to see coming from the CFTC under Chairman Michael Selig, and more!
Walt also shares his experiences navigating challenges in leadership, including during the 2008 financial crisis, his view of the FIA’s role as stewards of institutional knowledge in an ever-evolving industry, and some advice for the new CFTC Chairman Selig and newcomers to the industry. Along the way, Walt emphasizes the value of collaboration and some of the memorable moments from past Boca conferences.
Enjoy the discussion and as always - Follow, like, share, and subscribe for more great CFTC or derivatives related content. If there is someone you’d like to see featured on the Podcast or a specific topic you want discussed, send your comments and suggestions our way!

In this episode, Gary Kalbaugh, Law Professor and Partner in private practice, sits down with guest host Matt Vegh, a 3L Law Student, to discuss Gary’s role as Editor-in-Chief of the Futures and Derivatives Law Report, the recent ABA Derivatives & Futures Law Committee Meeting, what to expect from the CFTC with a confirmed Chairman in place, and more!
Along the way, Gary shares his initial Irish derivatives connection, advice to newcomers to the industry, and other memorable moments and milestones. 
Enjoy the discussion and as always - Follow, like, share, and subscribe for more great CFTC or derivatives related content. If there is someone you’d like to see featured on the Podcast or a specific topic you want discussed, send your comments and suggestions our way!

In this episode, Brian Young shares some observations of what it was like to be the CFTC’s most recent Director of Enforcement, his time leading the CFTC’s Whistleblower’s program, early entry into the derivatives space from his time at the DOJ, and more!
Brian’s tenure as Director of Enforcement overlapped with the CFTC’s recent enforcement sprint, and Brian shares some observations about how the DOE actioned on the CFTC priorities to make that sprint successful and industry’s response.
Tune in to hear how the ‘crucible of trial,’ early mentors, and experiences as an Acting Director at the Department of Justice helped solidify Brian’s view that a successful enforcement action was one that led to just results, with no winners or losers. 
Along the way, Brian discusses the importance of appreciating where you are in the moment, the importance of the Whistleblower program, and some tips of how to conquer the learning curve into this space. 
Enjoy the discussion and as always - Follow, like, share, and subscribe for more great CFTC or derivatives related content. If there is someone you’d like to see featured on the Podcast or a specific topic you want discussed, send your comments and suggestions our way!

In this episode, Carl Kennedy shares his observations about the recent Futures and Derivatives Law Report Digital Asset Leadership Summit that he helped put together, his work as the managing editor for the 2025 Chambers Global Overview on Derivatives, and more!  
Listen in to hear some perspectives and reflections from Carl’s initial entry to this space, from learning an almost new language while working with ISDA to leading the CFTC’s cross-border jurisdiction guidance in the wake of the Dodd-Frank Act and moving to private practice. 
Digital assets and what to expect next from the CFTC at this pivotal moment in its history are top of mind as Carl also shares some candid observations gleaned from his fireside chat with Acting Chairman Pham at the recent leadership summit. 
Enjoy the discussion and as always - Follow, like, share, and subscribe for more great CFTC or derivatives related content. If there is someone you’d like to see featured on the Podcast or a specific topic you want discussed, send your comments and suggestions our way!

In this episode, Rob Schwartz shares his take on recent CFTC and SEC regulatory harmonization. Along the way, the 16th General Counsel of the CFTC describes his first foray into the derivatives industry, milestone moments during his tenure at the agency, and excitement for the future for our favorite agency (#CFTC).
Newcomers to the derivatives space - this may be your time to join and learn up quickly! Listen in to hear Rob's take on why and how.
Enjoy the discussion and as always - Follow, like, share, and subscribe for more great CFTC or derivatives related content. If there is someone you’d like to see featured on the Podcast or a specific topic you want discussed, send your comments and suggestions our way!