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Massad Heads to Swaps Agency as Wall Street Seeks Rollback

For almost five years, the head of a once obscure U.S. agency fought Wall Street to impose curbs on derivatives that helped ignite the 2008 financial crisis. His successor, Timothy Massad, must now decide how to finish the job.

Massad, confirmed today by the U.S. Senate to replace Gary Gensler at the Commodity Futures Trading Commission, has given few clues to how he intends to run the agency he will inherit, which has new powers but also major challenges.