US CFTC Chair Commits to Rulemaking Amidst Commissioner Vacancy
US derivatives regulator will make rules when he is only sitting member, chairman says
The Economic Times
Image: The Economic Times
Michael Selig, chair of the U.S. Commodity Futures Trading Commission (CFTC), assured Congress that the agency will continue to issue regulations despite being the only sitting commissioner. He emphasized the importance of maintaining investor and consumer protections during his testimony before the House Agriculture Committee.
- 01Michael Selig is the only sitting commissioner of the CFTC.
- 02The CFTC will continue to issue regulations.
- 03Investor and consumer protections are a priority.
- 04Selig testified before the House Agriculture Committee.
- 05The agency's rulemaking will not be delayed.
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Michael Selig, the chair of the U.S. Commodity Futures Trading Commission (CFTC), testified before the House Agriculture Committee, affirming that the agency will persist in its regulatory efforts despite currently being the only sitting commissioner. Selig stated, "We cannot, for the sake of the American people, slow down in our rulemaking." He highlighted the necessity of implementing investor protections, consumer protections, and market safeguards, indicating that he cannot neglect his responsibilities as appointed by the president. The CFTC, a five-member agency, faces a vacancy that does not deter its commitment to regulatory processes.
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The CFTC's ongoing regulatory efforts are crucial for maintaining market integrity, which directly affects investors and consumers in the U.S.
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