Coincident with the inauguration of President Trump, existing Chairman Massad stepped down and the sole existing Republican commissioner of the CFTC - Christopher Giancarlo - was appointed Acting Chairman. It is widely expected that appointment will become permanent.
A key independent financial agency shifted into Republican hands Friday as President Donald Trump assumed office. Christopher Giancarlo, the lone GOP member of the Commodity Futures Trading Commission, became acting chairman at the CFTC, succeeding Timothy Massad. Giancarlo has expressed interest in becoming the agency’s permanent chairman, saying that his tenure as acting chairman would help establish the regulatory agenda. “If I am honored to be nominated and confirmed by the Senate as CFTC chairman, my priorities should come as no surprise,” he said in a speech Wednesday at a derivatives trading conference in New York. There also are three open slots at the CFTC to accompany Giancarlo and Democratic Commissioner Sharon Bowen.