Given the CFTC’s importance, it’s puzzling that President Biden has yet to nominate a chair. After he was sworn in Jan. 21, there were news reports that the two Democratic CFTC commissioners, Rostin Behnam and Dan Berkovitz, and Georgetown University law professor Chris Brummer were being considered for the top spot. But there has been no action taken, other than the selection of Behnam as acting chair of the CFTC on Jan. 21.
“Acting” leadership positions are not sufficient. Since Biden took office, the acting CFTC chair and the acting director of enforcement have made few public statements to indicate the direction the CFTC will take in the new administration. There have been no statements about CFTC’s enforcement priorities or what the markets can expect.
This is not effective leadership.
‘Enforcement 40’ for 2020
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