President Trump reportedly tapped Michael Selig to be the CFTC’s next Chair. The previous nominee, Brian Quintenz, was recently dropped after pressure from the Winklevoss twins.
Selig has been an SEC employee and aide to Paul Atkins, so he could steer the two Commissions towards closer collaboration. However, it’s hard to make any further predictions about his ideas on policy.
Selig for CFTC Chair
In recent months, things have been pretty chaotic at the CFTC. One of the US’s top financial regulators has been reduced to one Commissioner, with outgoing members warning of a “financial Wild West.”
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Meanwhile, the Acting Chair has been unilaterally taking unprecedented actions. To help resolve this situation, President Trump has allegedly tapped Michael Selig to be the next Chair of the CFTC.
Before the Selig pick, Trump had chosen Brian Quintenz to be the CFTC’s next Chair.
However, the Winklevoss twins strenuously opposed this appointment, and even though many industry leaders supported Quintenz, Trump withdrew the nomination earlier this month. Now, the process is starting over again.
