CFTC Logo, Dodd/Frank

CFTC Chair Touts Full Slate of Commissioners

Christopher Giancarlo
Christopher Giancarlo, CFTC chairman

The Commodities Futures Trading Commission has a full slate of commissioners, and this means that all CFTC committees are also fully active.

Christopher Giancarlo is the CFTC Chair and he made a speech in Chicago, Illinois, at the Futures Industry Association (FIA) 34th Annual FIA Futures and Options Expo.

“Perhaps an even more significant event was the meeting of the Technology Advisory Committee on Friday, October 5.  That is because the TAC Committee met in front of a full Commission.  The last time that happened was on April 30, 2013 – five and a half years ago.  In fact, that was the last time any advisory committee took place before a full CFTC Commission.  Thus, it was very satisfying to have our new and full Commission together ten days ago.” Giancarlo said in the speech.

On August 29, 2018, Dawn Stump and Dan Berkovitz were confirmed by the US Senate to be the 4th and 5th (of five) commissioners on the CFTC; this produced the full slate of commissioners at the CFTC for the first time in more than a year.

Dawn Stump, CFTC Commissioners
Dawn Stump, CFTC Commissioners

“You know, there is logic to having a five-member Commission.  And, it is right that all CFTC Commissionerships be filled, as they are now.  In fact, we may well have on board the most experienced and knowledgeable group of Commissioners in the history of the CFTC.  You will hear from most of us here at Expo.  I thank Senator Roberts, Senator Stabenow, and the Senate Ag Committee for their work in the current Congress to confirm all five members of this Commission.” Giancarlo noted later in the speech.

Giancarlo said because CFTC had a full slate of commissioners, each of the committees which make up the CFTC will also be fully active.

The CFTC has six committees:

  • Agricultural Advisory Committee.
  • Energy & Environmental Markets Advisory Committee.
  • Global Markets Advisory Committee.
  • Market Risk Advisory Committee.
  • Technology Advisory Committee.
  • CFTC-SEC Joint Advisory Committee.

Giancarlo promised with a full slate of commissioners, each of these committees would work with maximum efficiency as well.

“One of the capabilities of a full Commission is to sponsor and activate all of the CFTC’s advisory Committees.  I thank Commissioner Stump for agreeing to sponsor the Global Markets Advisory Committee.  In that role, Dawn is representing the CFTC this week at the IOSCO meeting in Madrid.  It has been too long since the last meeting of GMAC, but it is now in good hands and will soon be off to a good restart.

Dan M Berkovitz, CFTC Commissioner
Dan M Berkovitz, CFTC Commissioner

“I also thank Commissioner Berkovitz for taking over sponsorship of the Energy and Environmental Markets Committee.  Dan is busy finalizing the EEMAC membership for an upcoming meeting.  We look forward to that.

“I will be taking on sponsorship of the Agriculture Advisory Committee and will be reaching out soon to members.  The Ag Advisory Committee met last year in Kansas City under Commissioner (Rostin) Behnam’s interim sponsorship, for which we are grateful.  I look forward to sponsoring another Ag Advisory Committee meeting in Kansas in conjunction with the CFTC’s 2nd Ag Commodity Futures Conference in early April 2019.

“I also want to thank Commissioner Behnam for standing up the Market Risk Advisory Committee with energy and determination.”