The Commodity Futures Trading Commission announced Tuesday that Tyler S. Badgley has been named the agency's General Counsel, marking a key leadership appointment as the CFTC works to expand regulatory frameworks for emerging derivatives markets.
Badgley joins the CFTC from the U.S. Department of the Treasury, where he served as Deputy General Counsel and previously as Executive Secretary. His appointment comes as the derivatives regulator seeks to strengthen its legal capabilities while navigating complex jurisdictional issues with other federal agencies.
"Tyler is an incredibly talented and experienced lawyer," said Chairman Selig in announcing the appointment. "He will be a huge asset to the Commission as it develops new regulatory frameworks for emerging markets and defends its exclusive authority over derivatives markets, both new and old."
The appointment addresses critical priorities for the CFTC as it works to regulate evolving financial markets, particularly in areas where traditional regulatory boundaries are being tested by new financial instruments and market structures.
Badgley expressed his commitment to balancing innovation with proper oversight. "I am honored to have the opportunity to support the Commission's important mission and thank Chairman Selig for placing trust in me," he said. "I look forward to working to ensure the durability of this Commission's pro-innovation agenda while providing the proper oversight and regulation of market participants."
The new General Counsel brings substantial legal experience across multiple sectors. Prior to his Treasury Department service, Badgley worked as Senior Counsel at the U.S. Chamber of Commerce Litigation Center, where he focused on complex litigation and regulatory issues, particularly those involving capital markets. His private sector experience includes time at Sullivan & Cromwell LLP, one of the nation's premier financial services law firms.
Badgley's government service extends beyond the Treasury Department. He previously served as Special Counsel to the U.S. Senate Committee on the Judiciary, providing him with legislative experience that could prove valuable in the CFTC's interactions with Congress. He began his legal career as a law clerk for the Honorable Edith H. Jones of the U.S. Court of Appeals for the Fifth Circuit.
The appointment also involves a transition for Meghan Tente, who has served as Acting General Counsel since January 2025. Rather than departing the agency, Tente will continue in a new role as Senior Advisor within Chairman Selig's office.
"I thank Meghan Tente for her service since January 2025 as Acting General Counsel," Chairman Selig said. "I am very pleased she will continue serving the Commission as a Senior Advisor within my office. She will play a critical role in our efforts to harmonize our regulatory framework with the Securities and Exchange Commission and to eliminate duplicative rules and regulations."
Tente's new position highlights a key challenge facing the CFTC: coordinating with the Securities and Exchange Commission to reduce regulatory overlap and eliminate conflicting requirements. This inter-agency coordination has become increasingly important as financial markets evolve and traditional boundaries between securities and derivatives blur.
Badgley's educational background reflects his deep engagement with both law and economics. He received his J.D., Order of the Coif, from the University of Virginia School of Law, where he served as an Articles Editor of the Virginia Law Review. His undergraduate degree in Economics and Government from the University of Virginia provides additional grounding in the economic principles underlying derivatives markets.
The timing of Badgley's appointment coincides with several significant challenges facing the CFTC. The agency continues to grapple with regulating digital assets and cryptocurrency derivatives, areas where jurisdictional questions between the CFTC and SEC remain contentious. Additionally, the CFTC faces ongoing pressure to modernize its regulatory approach while maintaining market integrity.
As General Counsel, Badgley will oversee the CFTC's legal strategy in defending its regulatory authority, particularly in derivatives markets where other agencies may claim jurisdiction. His experience at Treasury, which has its own significant role in financial regulation, could prove valuable in navigating inter-agency relationships.
The appointment also comes as the CFTC works to implement what Chairman Selig described as a "pro-innovation agenda." This approach seeks to provide clear regulatory guidance to market participants while avoiding rules that could stifle beneficial financial innovation.
Badgley's broad experience across government service, private practice, and legislative work positions him to address the complex legal challenges facing the CFTC. His role will be crucial as the agency works to maintain its exclusive authority over derivatives markets while adapting its regulatory framework to address emerging market structures and instruments.
The CFTC's announcement did not specify when Badgley will formally begin his duties as General Counsel or detail the transition timeline from his current Treasury Department role.