Although her term has not expired, Democratic appointee to the CFTC Sharon Bowen has announced her early departure. She hopes the move will speed up the pace of Republican appointees, returning the CFTC to more typical functioning.
Sharon Bowen, the only Democrat on the U.S. regulator in charge of overseeing a major chunk of the $483 trillion derivatives market, announced Tuesday that she’d leave her post before her term ends next year. Bowen, who was appointed by Barack Obama, has been a member of the Commodity Futures Trading Commission since June 2014. By departing in the next few months, Bowen said she hoped to speed the process of getting open seats filled. Currently, Acting Chairman J. Christopher Giancarlo, a Republican, is the only other commissioner at the five-member agency. “The work of this agency has been hampered by only having a two-person commission,” Bowen said. “Without a full compliment of commissioners to consider the far-reaching implications of our decisions, we’re frozen in place while the markets we regulate are moving faster everyday.”