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March 29, 2022

The CFTC Is Back In Business Regulating Derivatives and Commodities With the Senate’s Bipartisan Confirmation of Four CFTC Commissioners

WASHINGTON, D.C.— Dennis Kelleher, President and CEO of Better Markets, issued the following statement regarding the Senate’s confirmation of four Commissioners for the Commodity Futures Trading Commission (CFTC):

“With the Senate’s bipartisan confirmation of four nominees last night, the Commodity Futures Trading Commission (CFTC) is finally back in business.  While Chairman Behnam and Commissioner Stump have done an admirable job while shorthanded, the Commission has inevitably been unable to fully address the many challenges that require the CFTC’s attention.  This is particularly true today with our financial system and economy on a knife’s edge due to surging inflation, market volatility caused by the pandemic, and global disruptions resulting from Russia’s attack on Ukraine.

“The CFTC is one of the most neglected but most important financial regulatory agencies in the U.S.  It supervises and regulates markets and products that impact the everyday lives of all Americans, from the cereal on their kitchen table to the gas they put in their car to the plastic in their children’s toys.  The CFTC has a full agenda and now, with a full Commission, it can appropriately address those many critical issues.”

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Better Markets is a non-profit, non-partisan, and independent organization founded to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies – including many in finance – to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.org.

Contact: Evelyn Swan at 202-618-6433 or eswan@bettermarkets.org

 

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