White House Has Vetted Candidates For Four Open CFTC Commissioner Seats

According to CNBC, the White House has vetted candidates for the four open commissioner positions at the Commodity Futures Trading Commission, though it is unclear when or whether it will move forward with nominations. The CFTC, which regulates derivatives contracts, currently has only one commissioner, chairman Michael Selig, even though its five-member structure is supposed to include members from both major political parties. Senate Minority Leader Chuck Schumer's office said Democrats support fully staffed bipartisan commissions and have already sent the White House names for the Democratic vacancies at the CFTC and Securities and Exchange Commission. A Republican working on the Clarity Act said filling the vacant CFTC seats could be a key concession to help secure passage of the crypto market structure bill, which faces a procedural vote in the Senate on Sept. 15. Rep. Angie Craig said the Trump administration needs to ensure the CFTC has the staff and resources it needs, while Rep. Glenn "GT" Thompson said he has not heard anything from the White House about potential nominations.