Jill E. Sommers
Encyclopedia
Jill E. Sommers was sworn in as a Commissioner of the Commodity Futures Trading Commission
on August 8, 2007 to a term that expired April 13, 2009. She was nominated on July 20, 2009 by President Barack Obama
to serve a five-year second term., and confirmed by the United States Senate on October 8, 2009.
, which is chaired by the Secretary of the Treasury and was established to improve the financial literacy and education of U.S. citizens.
, where she worked on a number of over-the-counter derivatives issues.
Prior to that, Ms. Sommers worked in the Government Affairs Office of the Chicago Mercantile Exchange
(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
.
Commissioner Sommers started her career in Washington in 1991 as an intern for Senator Robert J. Dole (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.
, Ms. Sommers holds a Bachelor of Arts degree from the University of Kansas
. She and her husband, Mike, currently reside in the Washington, DC area and have three children ages 7, 6, and 5.
Commodity Futures Trading Commission
The U.S. Commodity Futures Trading Commission is an independent agency of the United States government that regulates futures and option markets....
on August 8, 2007 to a term that expired April 13, 2009. She was nominated on July 20, 2009 by President Barack Obama
Barack Obama
Barack Hussein Obama II is the 44th and current President of the United States. He is the first African American to hold the office. Obama previously served as a United States Senator from Illinois, from January 2005 until he resigned following his victory in the 2008 presidential election.Born in...
to serve a five-year second term., and confirmed by the United States Senate on October 8, 2009.
Global Markets Advisory Committee
On February 4, 2008 the Commission appointed Commissioner 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 CommissionFinancial Literacy and Education Commission
The Financial Literacy and Education Commission was established under Title V, the Financial Literacy and Education Improvement Act which was part of the Fair and Accurate Credit Transactions Act Act of 2003, to improve financial literacy and education of persons in the United States...
, which is chaired by the Secretary of the Treasury 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 AssociationInternational Swaps and Derivatives Association
The International Swaps and Derivatives Association is a trade organization of participants in the market for over-the-counter derivatives....
, where she worked on a number of over-the-counter derivatives issues.
Prior to that, Ms. Sommers worked in the Government Affairs Office of the Chicago Mercantile Exchange
Chicago Mercantile Exchange
The Chicago Mercantile Exchange is an American financial and commodity derivative exchange based in Chicago. The CME was founded in 1898 as the Chicago Butter and Egg Board. Originally, the exchange was a non-profit organization...
(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
Commodity Futures Modernization Act of 2000
The Commodity Futures Modernization Act of 2000 is United States federal legislation that officially ensured the deregulation of financial products known as over-the-counter derivatives. It was signed into law on December 21, 2000 by President Bill Clinton...
.
Commissioner Sommers started her career in Washington in 1991 as an intern for Senator Robert J. Dole (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, KansasFort Scott, Kansas
Fort Scott is a city in and the county seat of Bourbon County, Kansas, United States, south of Kansas City, on the Marmaton River. As of the 2010 census, the city population was 8,087. It is the home of the Fort Scott National Historic Site and the Fort Scott National...
, Ms. Sommers holds a Bachelor of Arts degree from the University of Kansas
University of Kansas
The University of Kansas is a public research university and the largest university in the state of Kansas. KU campuses are located in Lawrence, Wichita, Overland Park, and Kansas City, Kansas with the main campus being located in Lawrence on Mount Oread, the highest point in Lawrence. The...
. She and her husband, Mike, currently reside in the Washington, DC area and have three children ages 7, 6, and 5.