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June 5, 2012

Gensler left in limbo as CFTC chief

“The White House has allowed the term of the top US derivatives regulator to expire amid critiques from both political parties over attempts to shape the future of the $648tn swaps industry.”

“Gary Gensler, chairman of the Commodity Futures Trading Commission, quietly saw his official term lapse on April 13. On Monday, Bernie Sanders, a liberal Senator from Vermont, called on President Barack Obama not to reappoint Mr Gensler, becoming the latest lawmaker to demand a new CFTC chairman.”

“’I don’t think there’s a lot of support on either side [for Mr Gensler],’” said one Senate aide, in reference to Republican and Democratic lawmakers. “’I don’t see a lot of members coming to his defence.’”


Read full Financial Times article here.

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