The Commodities Futures Trading Commission (CFTC) is about to lose one of its two remaining commissioners.
Commissioner Sharon Bowen announced on Tuesday that she would be stepping down.
Though Bowen is a Democrat, the Acting Chairman, Republican Christopher Giancarlo, had nothing but praise for his colleague.
I commend Sharon on her tenure as a Commissioner. She has brought significant experience and a clear and consistent voice to fulfilling the mission of the CFTC. Our time together has been one of mutual respect and genuine interest in the health of our U.S. markets. I have truly enjoyed the productive and cooperative relationship we have built, and I believe it has set a positive tone for the entire Commission. In an era where cooperation in Washington is rare, it has flourished here at the CFTC, and I am grateful to Sharon for her partnership in making that the standard for Commission operations.
During her tenure as Commissioner, Sharon has been an active leader in many areas, including her sponsorship of the Market Risk Advisory Committee, and she has made a significant impact as a result of her work. Despite functioning with only two commissioners, we have managed to be very productive, launching initiatives such as LabCFTC and Project KISS to make the CFTC a more efficient and effective regulator for the modern markets.
Bowen’s departure will leave Giancarlo as the only commissioner of what is supposed to be a five-member commission, made up of Democrats and Republicans.
Giancarlo is acting commissioner though his appointment is moving forward with the announcement of his hearing later in the week in front of the Senate Agriculture Committee.