Skadden Counsel Retires, Says Loathsome Veggies Shouldn’t Be Considered Commodities
Don’t expect Philip McBride Johnson, counsel at Skadden, Arps, Slate, Meagher & Flom, to ride off into the sunset when he retires from the firm at the end of the year. The former chairman of the Commodity Futures Trading Commission intends to remain an active policy maker in the derivatives community and cheekily suggests the CFTC should ban brussel sprouts, sweet potatoes, and anything labeled as “cod” from commodities trading, the Blog of the Legal Times reports.
Johnson, who’s been practicing law for 50 years, founded the derivatives law committee for the American Bar Association, was founding counsel of the National Futures Association and is the author of Derivatives Regulation, the dominant legal treatise on U.S. derivatives law.
“He’s a towering figure in the field of commodities regulation and will be missed by his colleagues here at Skadden,” Clifford “Mike” Naeve, managing partner of the firm’s Washington office said of Johnson, according to the BLT.
