Finance Professor Appointed to Post by President Bush
Posted: August 8, 2002 at 1:00 am, Last Updated: November 30, -0001 at 12:00 am
Sharon Brown-Hruska, assistant professor of finance in the School of Management, was officially sworn in yesterday as commissioner for the Commodity Futures Trading Commission (CFTC). She was appointed by President George W. Bush and received unanimous consent from the U.S. Senate to serve a five-year term.
Congress created the CFTC in 1974 as an independent agency to regulate commodity futures and option markets in the United States and protect market participants against manipulation, abusive trade practices, and fraud. “I will work hard to ensure that the commission continues as a strong and effective regulator, fulfilling its mission to guard the public interest, and making sure that the markets are efficient, transparent, and financially sound,” says Brown-Hruska.
Brown-Hruska, a “farm girl” from White Hall, Va., says she grew up “surrounded by the corn fields and apple orchards.” Her first job was in the local farm market. She attended Virginia Tech on a scholarship from Frank Armstrong, founder of White House apple products, and received her B.A. in economics and international studies and M.A. in economics. She returned to Virginia Tech to pursue a Ph.D. in economics after working for three years as a public school teacher in the same county schools she had attended as a child. She worked in the Division of Economic Analysis at the CFTC for five years and was a finance professor at Virginia Tech, Tulane University, and most recently George Mason.
“As a finance professor and as an economist at the commission, I have seen firsthand how innovative and beneficial the derivatives markets are and how they can increase the efficiency and performance of business and the economy,” says Brown-Hruska. “It was apparent to me then, as it is now, that the commission plays an important role in fostering market integrity, financial integrity, and customer protection.”