CFTC’s Mark Wetjen Resigns as Commissioner

The United States’ Commodity Futures Trading Commission (CFTC CFTC The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss Read this Term), one of the country’s paramount financial regulators, has a sizable void to fill with the announced resignation of Commissioner Mark P. Wetjen, according to a CFTC statement.

Mr. Wetjen will be stepping down from his position and relinquishing his commissionership as of August 28, 2015. The decision snaps a nearly four-year stint as one of the US’ chief regulating authorities – he has been the acting Chairman of the commission since January 2014.

Despite the short length, Mr. Wetjen has had a busy tenure with the CFTC, helping implement the landmark Dodd-Frank Act in the United States, whilst supporting over ninety sovereign CFTC actions.

According to Mr. Wetjen in a recent statement on his resignation as Commissioner, “Today, I informed President Obama of my intention to resign as a CFTC Commissioner later this month. It has been an honor to serve as both Commissioner and Acting Chairman of the CFTC.”

“I am grateful for the opportunity to have served alongside my fellow Commissioners and Chairmen Gensler and Massad, and I thank them for their dedication, professionalism, and collegiality. I also commend the talented and hardworking Commission staff and am confident the Commission will continue to ensure the derivatives markets remain open, transparent, competitive, and financially sound,” he added.