Walt Lukken, President and CEO of FIA, issued a statement today congratulating the new Commissioners and Chairman of the Commodity Futures Trading Commission. The Senate voted earlier today to confirm Timothy Massad as CFTC Chairman and Sharon Bowen and Christopher Giancarlo as CFTC Commissioners.
“I’m pleased that we now have a full slate of Commissioners to take on the important work ahead for the CFTC. The derivatives industry plays a vital role in hedging risk and reducing price volatility, so it’s important that CFTC rulemaking ensures a healthy, well-regulated and dynamic futures market. The Dodd-Frank Act greatly expanded the scope of the CFTC’s authority, and there are still many important issues that need to be addressed in the implementation of that law. So it is all the more important that the CFTC have a full complement of Commissioners at this critical moment in its history.”
