Washington, DC (STL.News) The Commodity Futures Trading Commission announced that the members of the Commission have unanimously elected Commissioner Rostin Behnam as Acting Chairman effective immediately.
Acting Chairman Behnam succeeds Heath P. Tarbert who served as Chairman since July 15, 2019, and announced his departure from the role earlier today. Mr. Tarbert remains a Commissioner, serving a term expiring on April 13, 2024.
“I want to express gratitude to President Biden for the opportunity to serve in this capacity,” said Acting Chairman Behnam. “The work of the CFTC is critical to supporting the stability and growth of the American economy through strong oversight and regulation of derivatives markets. As a commissioner, I have focused on ensuring our rules prioritize customer protections, examining potential systemic market risk, and gaining a better understanding of what regulators can do to address climate-related financial market risk. I am grateful to my fellow commissioners for their support, and I look forward to continuing to work with Commissioners Quintenz, Stump, Berkovitz, and Tarbert as well as with the hundreds of extraordinary employees and contractors who continually demonstrate excellence in upholding our mission and purpose. I thank Commissioner Tarbert for his service as Chairman and for facilitating a smooth transition.”
Mr. Behnam was nominated to be a CFTC Commissioner on July 13, 2017 for a term expiring on June 19, 2021. He was confirmed by the U.S. Senate on August 3, 2017 and was sworn in on September 6, 2017.