The Commodity Futures Trading Commission announced that it unanimously elected Commissioner Rostin Behnam as acting chairman.
The Hagstrom Report says Behnam succeeds Heath Tarbert, who served as chair since July of 2019, and who will remain as a commissioner until 2024.
Behnam says the work of the CFTC is critical to supporting the stability and growth of the American economy through strong oversight and regulation of the derivatives markets.
“As a commissioner, I’ve focused on making sure our rules emphasize protecting customers, look into potential systemic risks in the markets, and gaining a better understanding of what regulators can do to address climate-related financial market risk,” Behnam says. “I’m grateful to my fellow commissioners for their support.”
Senate Ag Committee Chair Debbie Stabenow says she’s been impressed with Behnam’s proactive work to protect the economy from the urgent impacts of climate change. “He’s been a vigilant advocate for Wall Street reform to hold bad actors accountable,” she says.
“I look forward to working with him to continue protecting the families, farmers, and the businesses that rely on our agricultural and financial markets.”
Behnam previously worked for Stabenow before becoming a CFTC commissioner in 2017.
(Story Courtesy of the NAFB News Service)