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.

DSG Update: Senate Ag Committee Votes on CFTC Commissioner Nominations

More Advocacy Issues

The PDF below provides an outline of the next COVID-19 relief package agreed upon by The White House and Senate Republicans. Senate Republicans plan to release the plan today to allow for the Senate and House to begin discussion. Click here for outline.

Read More
 

On July 18th, the Bangladesh Textile Mills Association (BTMA) wrote the International Cotton Association (ICA) in regarding to their inability to fulfill contracts due to the current environment. On July 22nd, ICA replied to BTMA by stating “the legal concept of force majeure is intended to cover those circumstances that could delay or impede the […]

Read More
 

CFTC’s Open Meeting

July 23rd, 2020

On July 22nd, U.S. Commodity Futures Trading Commission held an open meeting to consider two items: (1) Final Rule: Capital Requirements for Swap Dealers and Major Swap Participants; (2) Proposed Rule: Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swaps Participants. See PDF below for key takeaways and details provided by Delta Strategy […]

Read More
 

On July 21st, U.S. Commodity Futures Trading Commission’s Market Risk Advisory Committee had a meeting. See PDF below for key takeaways and details provided by Delta Strategy Group. Click here.

Read More