Rostin Behnam Named Acting Chair of U.S. Derivatives Regulator
- Behnam has been a Democratic CFTC commissioner since 2017
- Agency oversees swaps, futures and some crypto assets
This article is for subscribers only.
Rostin Behnam, a Democratic member of the U.S. Commodity Futures Trading Commission, will serve as acting chair of the derivatives regulator until the Senate confirms President Joe Biden’s permanent nominee.
Behnam, who’s appointment was announced in a Thursday CFTC statement, will be hamstrung from making any major policy changes as Republicans outnumber Democrats at the agency 3-to-2. Heath Tarbert, who was President Donald Trump’s second CFTC chairman, announced earlier in the day that he would step down from leading the agency but would stay on as a commissioner. He’s previously said that stint would be temporary.