The Commodity Futures Trading Commission (CFTC) is an independent agency of the US government created in 1974 that regulates the U.S. derivatives markets,which includes futures,swaps,and certain kinds of options.
The Commodity Futures Modernization Act of 2000 (CFMA) is United States federal legislation that ensured financial products known as over-the-counter (OTC) derivatives remained unregulated. It was signed into law on December 21,2000 by President Bill Clinton. It clarified the law so most OTC derivative transactions between "sophisticated parties" would not be regulated as "futures" under the Commodity Exchange Act of 1936 (CEA) or as "securities" under the federal securities laws. Instead,the major dealers of those products would continue to have their dealings in OTC derivatives supervised by their federal regulators under general "safety and soundness" standards. The Commodity Futures Trading Commission's (CFTC) desire to have "functional regulation" of the market was also rejected. Instead,the CFTC would continue to do "entity-based supervision of OTC derivatives dealers". The CFMA's treatment of OTC derivatives such as credit default swaps has become controversial,as those derivatives played a major role in the financial crisis of 2008 and the subsequent 2008–2012 global recession.
Robert Edward Rubin is an American retired banking executive,lawyer,and former government official. He served as the 70th United States Secretary of the Treasury during the Clinton administration. Before his government service,he spent 26 years at Goldman Sachs,eventually serving as a member of the board and co-chairman from 1990 to 1992.
Gary Gensler is an American government official and former Goldman Sachs investment banker serving as the chair of the U.S. Securities and Exchange Commission(SEC). Gensler previously led the Biden–Harris transition's Federal Reserve,Banking,and Securities Regulators agency review team. Prior to his appointment,he was professor of Practice of Global Economics and Management at the MIT Sloan School of Management.
Brooksley Elizabeth Born is an American attorney and former public official who,from August 26,1996,to June 1,1999,was chair of the Commodity Futures Trading Commission (CFTC),the federal agency which oversees the U.S. futures and commodity options markets. During her tenure on the CFTC,Born lobbied Congress and the President to give the CFTC oversight of off-exchange markets for derivatives,in addition to its role with respect to exchange-traded derivatives,but her warnings were ignored or dismissed,and her calls for reform resisted by other regulators. Born resigned as chairperson on June 1,1999,shortly after Congress passed legislation prohibiting her agency from regulating derivatives.
Greg Zerzan is an attorney and former acting assistant secretary of the U.S Treasury under President George W. Bush. He has held several prominent posts in government and is a frequent speaker on markets and public policy matters.
Elisse B. Walter was the 30th Chair of the U.S. Securities and Exchange Commission (SEC) from December 14,2012 –April 10,2013. She was appointed Chair by President Barack Obama on November 26,2012,and sworn in on December 14,2012. She was originally appointed as one of five SEC Commissioners by President George W. Bush and sworn in on July 9,2008. Under designation by President Obama,she later served as Acting Chair during January 2009. She served as a Commissioner of the SEC until August 9,2013.
Jill E. Sommers was sworn in as a commissioner of the Commodity Futures Trading Commission on August 8,2007 to a term that expired April 13,2009. She was nominated on July 20,2009 by President Barack Obama to serve a five-year second term.,and confirmed by the United States Senate on October 8,2009.
Sean O'Brien Cota is an American businessman,energy market expert,financial commentator,and policy advisor on American energy and financial market transparency and reform measures. As the President of a third generation family-owned oil company,Cota &Cota Oil,Inc. in Bellows Falls,VT,whom he has worked for since 1977,he became extremely involved in energy commodity trading in 1988. In 2010,he was named Chairman of the Petroleum Marketers Association of America.
Bartholomew Hamilton Chilton was an American civil servant.
Timothy George Massad is an American lawyer and government official who served as the chairman of the Commodity Futures Trading Commission (CFTC) under President Barack Obama. He had previously been Assistant Secretary for Financial Stability at the United States Department of the Treasury,where he oversaw the Troubled Asset Relief Program (TARP) created by the U.S. government in response to the financial crisis of 2007–08.
J. Christopher Giancarlo is an American attorney and former business executive who served as 13th chairman of the United States Commodity Futures Trading Commission (CFTC). Giancarlo was sworn in as a CFTC commissioner on June 16,2014 for a term expiring on April 13,2019. Starting on January 20,2017,with President Donald Trump's inauguration,Giancarlo began serving as acting chair of the CFTC. In March 2017,the president nominated Giancarlo to be full-time chair of the commission. Giancarlo was confirmed as chairman of the commission by the United States Senate on August 3,2017.
Heath Price Tarbert is an American lawyer and former government official who most recently served as the 14th Chairman and a Commissioner of the Commodity Futures Trading Commission (CFTC). Prior to leading the CFTC,he served as Assistant Secretary of the Treasury for International Markets and Development and as acting Under Secretary of the Treasury for International Affairs. As of July 1,2023,he is Chief Legal Officer and Head of Corporate Affairs for Circle.
Rostin Behnam is an American lawyer and government official who currently serves as Chairman of the Commodity Futures Trading Commission.
Michelle White "Miki" Bowman is an American attorney who served as a member of the Federal Reserve Board of Governors since 2018. She is the first person to fill the community bank seat on the board,a seat created by a 2015 law.
Thomas A. Russo is an American attorney and former Wall Street executive. He served as vice chairman and chief legal officer of Lehman Brothers Holdings Inc. and as general counsel for American International Group (AIG),two of the companies central to the 2008-2009 global financial crisis.
Caroline D. Pham is an American attorney who serves as a commissioner of the Commodity Futures Trading Commission.
Summer Kristine Mersinger is an American attorney who serves as a commissioner of the Commodity Futures Trading Commission.
Mark P. Wetjen is an American lawyer. In 2011,he was nominated by Barack Obama to serve a five-year term as a Commissioner of the Commodity Futures Trading Commission (CFTC). He also served for five months as acting chairman of the CFTC upon the departure of his predecessor,Gary Gensler.
Robert R. Davis is an American economist and trade association executive. A longtime executive at the American Bankers Association and its predecessor,America's Community Bankers,Davis served for five and a half years as a member of the Commodity Futures Trading Commission.
