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Alternative Market Briefing

CFTC Commissioner Bart Chilton out in a surprise exit

Wednesday, November 06, 2013

Bailey McCann, Opalesque New York:

Commodities Futures Trading Commission (CFTC) member Bart Chilton will be leaving his post. The timing of the exit was a surprise and is potential replacement is as yet, unnamed. Chilton outlined his exit in remarks titled, "At Last."

In those remarks, Chilton said, "For two reasons, this is a significant day for me. I am reminded of that great Etta James song, At Last. The first reason is that, at last, we are considering what I believe to be the signal rule of my tenure here at the Commission; I’ve been working on speculative position limits since 2008. The second reason today is noteworthy is that this will be my last Dodd-Frank meeting. Early this morning, I sent a letter to the President expressing my intent to leave the Agency in the near future. I’ve waited until now—today—to get this proposed rule out the door, and now—at last—with the process coming nearly full circle, I can leave. It’s with incredible excitement and enthusiasm that I look forward to being able to move on to other endeavors."

The New York Times notes that Chilton had yet to be renominated for his post by the White House. President Obama recently announced he would be putting up Janet Yellen for Fed Chair, a confirmation ......................

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