The Newly Constituted CFTC Leadership (Bloomberg BNA)

    15 September 2014

    The United States Senate confirmed the nominations of Commodity Futures Trading Commission Chairman Timothy Massad and Commissioners Sharon Bowen and J. Christopher Giancarlo on June 3, 2014. The introduction of a new Chairman and two new Commissioners at the CFTC marks a striking transition from the five years the Commission was led by former Chairman Gary Gensler. The Commission’s core focus will increasingly shift from writing rules required by the Dodd-Frank Act to interpreting these rules, enforcing their provisions with respect to market participants who fail to comply, and working to establish compliance and surveillance programs to enforce the new requirements.

    As Chairman Massad and Commissioners Wetjen, Bowen, and Giancarlo begin to prioritize the Commission’s top missions and objectives, we highlight four key issues likely to be a part of the debate: (1) Improvement to Swap Data Quality and Clarity on Swap Data Trade Reporting, (2) Swap Execution Facility Permanent Registration, (3) Cross-Border Considerations, and (4) Agriculture and End Users Concerns.