DSG Update: Senate Ag Committee Votes on CFTC Commissioner Nominations
Thursday, 29 SEP: Today, the Senate Ag Committee met off of the Senate floor to vote on the nominations of Christopher Brummer and Brian Quintenz to become CFTC Commissioners. Both nominees were reported favorably by the Committee (unanimous voice vote) and will be placed on the Senate Executive Calendar for consideration by the full Senate, the timing of which is still unclear.
Background: The vote follows the September 15 Senate Ag Committee hearing on these nominees (for your convenience, the Delta Strategy Group summary of the hearing is provided below). The two were nominated in March, 2016 to fill the two vacant Commissioner positions at the CFTC. Brummer is currently a Georgetown law professor who was nominated to fill the Democratic seat, which remains vacant since the departure of Mark Wetjen. Quintenz is currently a hedge fund manager who was nominated to fill the Republican seat previously held by Scott O’Malia.
Note: The nominees must be confirmed by the full Senate prior to being officially in office. The Senate plans to adjourn mid-day tomorrow until after the elections. There is a limited chance the full Senate confirms the nominees by unanimous consent prior to adjournment, otherwise the only remaining possibility for confirmation this Congress will be in the “lame duck” session beginning after the election (currently scheduled to begin on November 14).
Please click on the below link for full report.