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Senate Panel Expected to Advance CFTC Nominee Massad

"A Senate panel is poised as early as next month to advance the nomination of Timothy Massad to head the Commodity Futures Trading Commission, though some lawmakers are questioning his approach to financial regulation."

"President Barack Obama tapped Mr. Massad in November to succeed Gary Gensler. The Senate Agriculture Committee, which plans to weigh Mr. Massad's nomination in coming weeks, also plans to take up the nominations of Sharon Bowen, a securities lawyer at Latham & Watkins LLP, and brokerage executive J. Christopher Giancarlo to fill commissioner slots."

"The confirmation hearings come at a critical time for the CFTC, which has completed the bulk of its rule-writing for the 2010 Dodd-Frank financial-overhaul law but must now finish implementing and overseeing its efforts to bring stricter regulation to the multitrillion-dollar derivatives market. And it must do so amid industry criticism and as international regulators continue to fight the agency's delayed efforts to apply U.S. swaps rules overseas. Swaps are contracts between two parties, typically used to hedge interest rates, currencies or futures contracts such as oil."


Read full Wall Street Journal article here.

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