CFTC Commissioner Brian D. Quintenz announced that he will not seek re-nomination. Mr. Quintenz was sworn in as CFTC Commissioner on August 3, 2017 (see prior coverage).
In a statement in which he reflected on his tenure, Mr. Quintenz highlighted several priorities including (i) focusing on risk management, (ii) keeping current with technological advancements, and (iii) encouraging coordination and mutual deference among domestic and international regulators.
In light of upcoming rulemakings and to avoid uncertainty, Mr. Quintenz stated that he will remain in his position as a Commissioner until the earlier of Senate confirmation of a successor or October 31, 2020.
Commentary
From the start of his tenure, Mr. Quintenz was willing to challenge existing and proposed CFTC policies. He was not afraid of a debate (e.g., when it came to the EU reconsideration of central clearing recognition). On one policy in particular, the CFTC should have taken Mr. Quintenz's advice. He urged the CFTC to reconsider the policy and methodology for the swap dealer de minimis threshold. While some changes were debated, the CFTC never fully considered the important questions Mr. Quintenz raised.
Originally published April 28, 2020
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.