With over a decade of experience at NFA and an extensive tenure at Morgan Stanley, Cliffe Allen is a seasoned financial regulatory compliance and operations management professional. Since November 2022, Cliffe has served as Managing Director at NFA, where he plays a crucial role in overseeing the OTC Derivatives department's swap dealer (SD) regulatory examination program. His work is essential in ensuring SD Members' ongoing compliance with Title VII of the Dodd-Frank Act, CFTC regulations and NFA rules.

Prior to his current role, Cliffe spent nine years developing NFA's SD examination program and enforcing Members' compliance. His deep understanding of derivatives operations within financial institutions has been instrumental in facilitating rigorous onsite examinations by NFA staff.

Before joining NFA, Cliffe spent 16 years at Morgan Stanley, where he held multiple roles within the Institutional Securities and Wealth Management divisions. His responsibilities spanned client relationship management, trade processing, clearing, settlement, customer funds management and regulatory reporting across futures, listed options, foreign exchange and precious metals. During his tenure there, Cliffe also spent time working in Morgan Stanley's internal audit and risk management functions, where he honed his ability to build vital regulatory relationships, understand the nuances of regulatory engagement and navigate the varied examination processes of different regulators.