Stephen M. Humenik leads the firm’s futures and derivatives practice. He has extensive experience on cross-border regulatory, compliance and enforcement matters involving the U.S. Commodity Futures Trading Commission (CFTC) and markets for derivatives and physical and financial commodities. Mr. Humenik applies his business, operational, and government experience to the implementation of CFTC regulations, including the registration, trading, clearing and other compliance obligations of the Dodd-Frank Act.
Prior to joining Covington, Mr. Humenik was general counsel and chief regulatory officer of an interest rate swap derivatives market, where he oversaw the legal and regulatory affairs of the exchange, including the exchange’s designation as a contract market and ongoing compliance with CFTC regulations.
Mr. Humenik previously served as Special Counsel and Policy Advisor to former CFTC Commissioner Scott O’Malia where he assisted on rulemaking, enforcement and legislative matters. Mr. Humenik began his career at the CFTC and primarily served as Senior Trial Attorney for the CFTC’s Division of Enforcement where he investigated and litigated complex fraud and market manipulation cases, specifically those involving energy and financial derivatives and physical commodities.
Mr. Humenik also practiced in the SEC enforcement group of a law firm in Washington, DC.