Seeking Alpha

CFTC head to step down

  • Commodity Futures Trading Commission Chairman Gary Gensler reportedly intends to leave the CFTC by the end of the year after five years in the post.
  • Candidates to replace Gensler include commissioner Mark Wetjen, former CFTC enforcement chief Geoffrey Aronow, New York Law School professor Ronald Filler and Treasury Department official Timothy Massad.
  • Gensler's term has been tumultuous, and has included the financial crisis, an overhaul of derivatives rules under the Dodd-Frank law, and the prosecution of major banks for manipulating the Libor rate.
  • Formerly of Goldman Sachs, Gensler surprised by taking a tough and tenacious approach to implementing reforms.
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