Wetjen Formally Joins CFTC to Complete Dodd-Frank Swaps Rules

Mark P. Wetjen, a senior adviser to Senate Majority Leader Harry Reid, has been sworn in as a member of the U.S. Commodity Futures Trading Commission, the regulator writing new rules for the $601 trillion swaps market, according to Steve Adamske, the agency’s spokesman.

Wetjen, who was confirmed unanimously by the Senate on Oct. 21, replaces fellow Democrat Michael V. Dunn on the five-member commission.

The CFTC and Securities and Exchange Commission are leading efforts to write new derivatives regulations after largely unregulated trades helped fuel the 2008 credit crisis.

To contact the reporter on this story: Silla Brush in Washington at sbrush@bloomberg.net

To contact the editor responsible for this story: Lawrence Roberts at lroberts13@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.