White House has vetted candidates for key CFTC vacancies, sources tell CNBC. It's unclear if they will be filled

2 weeks ago 33

Signage is seen outside of the Commodity Futures Trading Commission headquarters in Washington, Aug. 30, 2020.Andrew Kelly | ReutersThe White House has vetted candidates for the four open commissioner positions at the Commodity Futures Trading Commission, three people with knowledge of the matter told CNBC. When — or if — the White House will ultimately act on those potential candidates isn't clear. The CFTC's five commissioners are mandated to be members from the political party in the White House and two from the opposing one. But at the moment, the CFTC — which regulates derivatives contracts — currently only has one, chairman Michael Selig.Bloomberg News reported earlier this year bipartisan names that the White House was potentially considering for the open seats. In early July, the Trump administration sent a letter to Senate leadership claiming Democrats hadn't delivered recommendations for vacancies on both the CFTC and Securities and Exchange Commission, explaining why it had yet to fill openings on both Wall Street regulatory bodies. Senate Minority Leader Chuck Schumer, D-N.Y., sent a letter at the end of July with suggestions for the open Democratic slots at both regula...

Read Entire Article






<