CFTC Enforcement Director Meister leaving agency

  • Associated Press
  • October 1, 2013 - 10:00 AM

WASHINGTON — The U.S. Commodity Futures Trading Commission says its enforcement director, David Meister, is leaving the agency this month.

Meister has been enforcement director since November 2010, leading the CFTC's investigations of banks' alleged manipulation of the global LIBOR interest rate, the collapse of big brokerage firm MF Global and other key cases.

Gretchen Lowe, chief counsel of the CFTC's enforcement division, will become acting enforcement director, the agency announced Tuesday.

The CFTC and other regulators reached LIBOR settlements totaling $2.6 billion with three major international banks and the largest broker of trades between banks. The agency sued former U.S. senator and New Jersey Gov. Jon Corzine, who ran MF Global, accusing him of failing to properly manage the firm and prevent misuse of customer funds. Corzine has disputed the allegations.

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