Jan. 22 (Bloomberg) -- Senate Agriculture Committee Chairman Tom Harkin raised questions about the regulatory views of Gary Gensler, President Barack Obama’s nominee to head the Commodity Futures Trading Commission.

“I remain concerned about the deregulatory orientation in this nominee’s past,” said Harkin, an Iowa Democrat, in an e- mailed statement. Harkin said he had “a productive and thorough discussion” with Gensler today.

Harkin said his committee, which has jurisdiction over the agency, would “soon” schedule a hearing on Gensler’s nomination.

Gensler, 51, is a former undersecretary of Treasury and worked for 18 years at Goldman Sachs Group Inc. While at Treasury, he worked on 2000 legislation that exempted over-the- counter derivatives trading from regulation by the CFTC.

The agency, which oversees $5 trillion in daily trading, has 465 employees and a budget of $111 million. It was the subject of congressional criticism during commodity price spikes last year, including crude oil futures prices that reached a record $147.27 a barrel in July.

House lawmakers said yesterday they are discussing the idea of merging the agency with the Securities and Exchange Commission, as part of a regulatory overhaul.

Agriculture Committee

Gensler has met with other lawmakers on Capitol Hill, including House Agriculture Committee Chairman Collin Peterson, a Minnesota Democrat, and Senator Maria Cantwell, a Washington Democrat who has criticized the agency.

Cantwell blocked the nomination of Walter Lukken, a Republican whom President George W. Bush appointed chairman in June. After meeting with Gensler last week, she sent a list of 25 questions to him for further information, Ciaran Clayton, her spokeswoman, said in a telephone interview today.

The senator is reserving judgment on Gensler until she receives answers to her questions, Clayton said.

Lukken stepped down as chairman on Jan. 20, the day Obama took office. Michael Dunn, one of two current Democratic commissioners, is serving as acting chairman of the agency until Obama’s nominee is approved by the Senate.

To contact the reporters on this story: Tina Seeley in Washington at tseeley@bloomberg.net; Matthew Leising in New York at mleising@bloomberg.net

Last Updated: January 22, 2009 19:16 EST