Senate Confirms Giancarlo as CFTC Chair

The US Senate has confirmed Christopher Giancarlo as the permanent chairman of the Commodity Futures Trading Commission (CFTC), while Rostin Behnam and Brian Quintenz have been confirmed as commissioners.

Dawn Stump has also been nominated as a CFTC commissioner, but is still awaiting Senate confirmation.

“Honored to be confirmed by @ussenate as Chairman of the @CFTC, along w/2 new Comn’rs Benham & Quintenz. Expect Dawn Stump confirmation soon,” said Giancarlo on Twitter immediately after the Senate decision.

Commenting on the news, CFTC commissioner, Sharon Bowen, says: “I congratulate my colleague Chris Giancarlo on his Senate confirmation to be the Chairman of the Commodity Futures Trading Commission. The agenda of the CFTC and its hardworking staff will be in good hands with Chris as its leader. I am confident he will lead the agency forward to tackle not only the challenges presented by the 2008 financial crisis but also the challenges of the 21st century marketplace. The CFTC has a tremendous challenge in fulfilling its mandate, because the markets we oversee today are vastly different than the agency’s traditional role. Today, the CFTC oversees markets valued in the hundreds of trillions of dollars and transactions that happen faster than the blink of an eye.  In the time that I am a commissioner at the CFTC, I look forward to working with Chairman Giancarlo to completing the outstanding agenda items currently before the commission. I am proud to have worked with Chris over the years, and I congratulate him on his confirmation as Chairman.”

Giancarlo was named as the acting chairman of the CFTC in January and was nominated to head the Commission on a permanent basis in March. 

Giancarlo joined the CFTC on June 16, 2014 after being unanimously confirmed by the US Senate on June 3, 2014, to serve as a Commissioner of the CFTC, the federal agency that oversees the commodity futures, options and swaps industry.

Before entering public service, Giancarlo served as the executive vice president of GFI Group. 

Prior to joining GFI,  he was the executive vice president and US legal counsel of Fenics Software and was a corporate partner in the New York law firm of Brown Raysman Millstein Felder & Steiner. 

Giancarlo joined Brown Raysman from Giancarlo & Gleiberman, a law practice he founded in 1992 following his return from several years in London with the international law firm of Curtis, Mallet-Prevost, Colt & Mosle.

Quintenz was the founder, managing principal, and CIO of Saeculum Capital Management from November 2013 to November 2016.  

Before holding that position, he was a consultant with Rose International from June 2013 until November 2013. Prior to this, he worked at Hill-Townsend Capital from 2009 to 2012, first as an analyst and then as the senior associate. 

Quintenz served in the office of US Representative Deborah Pryce from 2001 to 2007, first as a staff assistant, then a legislative assistant, and finally a senior policy advisor. 

Prior to joining the CFTC, Behnam was a senior counsel to Sen. Debbie Stabenow (D-MI). He previously practiced law in New York City and worked at the New Jersey Office of the Attorney General. Behnam is a graduate of Georgetown University and earned his law degree from the Syracuse University College of Law.

Stump is currently president of Stump Strategic, a consulting firm, and is a former vice president at NYSE Euronext. She also served as the Futures Industry Association’s (FIA) executive director of the Americas Advisory Board, and held several staff positions in the Senate and House of Representatives.

galen@profit-loss.com

@Galen_Stops

@Profit_and_Loss

Galen Stops

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