Founder's Profile

Ms. Corcoran initiated her customized consultancy services in 2008 following a long career in the public sector. She served nationally as the director of two Divisions of the US Commodity Futures Trading Commission (CFTC): initially Trading and Markets, the CFTC’s then-principal regulatory arm, and, subsequently, the newly created, Office of International Affairs. Internationally, she chaired two IOSCO (International Organization of Securities Commissions) working groups: the committee that authored Principles for the Oversight of Screen Based Trading Systems in Derivatives Products, and the Task Force on Implementation of the Objectives and Principles of Securities Regulation (Principles). The Task Force created the first methodology for assessing compliance with the IOSCO Principles and was the first IOSCO committee to admit both mature and growth market jurisdictions. The Assessment Methodology (originally completed in 2003) became a basis for reports on standards and codes under the World Bank/IMF FSAP (Financial Sector Assessment Program), endorsed by the G20 Pittsburgh Summit Leaders Statement in response to the Great Financial Crisis (GFC) of 2008. The Methodology and a related e-methodology were updated in 2011, 2013, and 2017.

At the CFTC, Ms. Corcoran was a critical member of the policy and supervisory team that spearheaded several initiatives. She was the architect of Part 190-special bankruptcy rules for listed derivatives, anticipated by substantial amendments to the Bankruptcy Code in 1978 through 1982 and now Section 24 of the Commodity Exchange Act which provides the CFTC with rulemaking authority under that Code. These rules, recently reinforced and extended in 2021, implement the law intended to protect the markets from contagion and systemic risk, strengthen incentives for strong risk management practices and facilitate prompt transfer of positions and funds permitting market participants to maintain hedges, fostering market stability and mitigating disruption and costs.

​She also conceived provisions for transaction of cross-border business, which enhanced US-based customer access to foreign products and non-US based customer access to US products. The rules, known as Part 30, adopted a home/host methodology (similar to classic conflicts of law and the original European Union Lamfalussy process). As such, the process took account of the jurisdictions best-placed to oversee a particular type of activity or entity and recognized and gave deference to comparable laws and oversight, subject to certain conditions.

Additionally she:

• Was CFTC staff representative to the President’s Working Group on Financial Markets, 1987 to 1997.
• Led team responding to the collapse of Barings bank, the Sumitomo copper market manipulation, and collaborated on responses to physical disruptions at US listed derivatives exchanges due to Chicago River flooding and the 1993 and 2001 NYC World Trade Center attacks.
• Oversaw production of a report published by the CFTC in 1993, pertaining to over-the-counter products, that identified various risk factors and mitigating measures, including the systemic value of clearing.  Clearing was later recognized in policy responses to the 2008 crisis as a critical factor in financial market resilience. 
• Advocated rules and processes supporting bulk transfers, customer adherence to exchange rules, “what if” risk analysis, and gross margining of omnibus accounts, all matters relevant to avoidance or mitigation of market failures and to expeditious transfer of customer positions, recovery and resolution of insolvencies and defaults.

EDUCATION

LLB (JD) Harvard Law School, Roscoe Pound Award (moot court team), moot court semi-finalist, Harvard Gen AHF teaching fellowship 

BA Stanford University, magna cum laude with Honors in History, Phi Beta Kappa

MIT Sloan School of Management Certificate of Successful Completion of Executive Program re: Blockchain Technologies: Business Innovation and Application

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LICENSES

New York (in-active), California, District of Columbia bars; expert roster for World Bank, IMF (through 2017 ); for Align: US Government Contractor registry SAMS (since 2015 )

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MEMBERSHIPS

Council on Foreign Relations

The Washington Institute of Foreign Affairs

Foreign Policy Discussion Group

ABA Derivatives Committee

Playreaders

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AWARDS

Presidential Executive Rank Award* (1988, 1996) under Presidents Reagan and Clinton, respectively

FIA Futures Hall of Fame (2013)

Women of Outstanding Achievement in International Financial Education, June 17, 2016, UN Headquarters New York via the Honourable Anna Chennault

*Highest monetary award for senior executive service