CFTC head to step down

|By:, SA News Editor

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.