The three nominees are Timothy Massad for agency chairman, and Sharon Bowen and J. Christopher Giancarlo for commissioners. Massad and Bowen would fill Democratic slots at the agency, and Giancarlo a Republican seat.
The CFTC currently has three commissioners, but one of them--Bart Chilton--announced his intention in November to leave in the near future (216 SLD, 11/7/13). The agency is operating under the acting chairmanship of Mark Wetjen.
Giancarlo was nominated by the White House in August, Massad in November, and Bowen in December (150 SLD, 8/5/13).
Massad is a senior Treasury Department official. Giancarlo is an executive vice president at GFI Group Inc., (GFIG) a wholesale market brokerage services firm specializing in listed and over-the-counter derivatives, and Bowen is a partner at Latham & Watkins, New York.
Observers have predicted that the CFTC would be in somewhat of a holding pattern until a full complement of commissioners--or at least a permanent chairman--is on board.
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