Vincent McGonagle

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Vincent McGonagle
Occupation Acting Director of the Division of Enforcement
Employer CFTC
Location Washington D.C.
Website www.cftc.gov

Vincent McGonagle is the acting director for the Commodity Futures Trading Commission's division of enforcement (DOE).[1] He was previously director of the CFTC's division of market oversight. He was appointed on September 16, 2013 and assumed his new role on October 7, 2013.[2]

Background

McGonagle joined the CFTC's enforcement division in 1997 and recently served as the senior deputy director. Before that he served at the CFTC in various management capacities in the Division of Enforcement, including serving as principal deputy and acting director.[3]

One notable accomplishment was in 2008, when McGonagle opened an investigation into the London Interbank Offered Rate (LIBOR) that led to settlements with UBS, Barclays and Royal Bank of Scotland Group Plc. The three banks paid a total of about $2.5 billion in fines for colluding to rig benchmark interest rates for profit or to hide their original cost of borrowing.[4]

Education

McGonagle earned a B.A. in Economics from LaSalle University and a J.D. from Pepperdine University School of Law.[5]

Testimony

  • Testimony of Vincent McGonagle, Director Division of Market Oversight, Commodity Futures Trading Commission Before the Financial Institutions and Consumer Protection Subcommittee Senate Committee on Banking, Housing, and Urban Affairs[6]

References

  1. CFTC Acting Chairman Giancarlo Announces Amir Zaidi as Director of the Division of Market Oversight. CFTC.
  2. CFTC Announces Vincent A. McGonagle as Director of the Division of Market Oversight. CFTC.
  3. Prominent People. FIA.
  4. Libor Investigator McGonagle Named CFTC Market Oversight Head. Bloomberg.
  5. Regulatory Veteran Vincent A. McGonagle Appointed Director of CFTC Division of Market Oversight. Forex Magnates.
  6. Testimony of Vincent McGonagle, Director Division of Market Oversight, Commodity Futures Trading Commission Before the Financial Institutions and Consumer Protection Subcommittee Senate Committee on Banking, Housing, and Urban Affairs. US Commodity Futures Trading Commission.