Chester S. Spatt, Ph.D.

Current position:
Pamela R. and Kenneth B. Dunn Professor of Finance at the Tepper School of Business at Carnegie Mellon University

Bio Highlights:

  • Chief Economist of the U.S. Securities and Exchange Commission (2004-2007)
  • Expert for the Federal Energy Regulatory Commission in its 2002-03 investigation of the manipulation of the Western energy markets in the United States
  • Former Executive Editor of “The Review of Financial Studies”
  • Member of Shadow Financial Regulatory Committee
  • Member of Financial Economists Roundtable
  • University of Pennsylvania, Ph.D. (1979)
Dr. Spatt’s Resume 


Position Paper, select quote:
“To the extent that certain strategies and trades would not have been considered manipulative (e.g., before the August 2 notification), it also is important to reflect on the agent’s responsibility to the principals providing the investible funds. Arguably, Dr. Chen, the agent who was acting as an advisor, would not be fulfilling his fiduciary duty to his clients if he were to leave money on the table and not undertake lawful strategies that he had identified within the context of investments permitted in the fund.”
Dr. Spatt’s Position Paper