President Trump will ask the Senate to confirm J. Christopher Giancarlo as chairman of the Commodity Futures Trading Commission, the White House announced. Giancarlo was named acting chairman on the day Trump took office and is expected to rein in Dodd-Frank financial reforms. Giancarlo, a commissioner since June 2014, would succeed Timothy Massad, a Democrat, who resigned with the change in administration. Sharon Brown is the only other commissioner at present.
Senate Agriculture Committee chairman Pat Roberts said his bill to reauthorize the Commodities Futures Trading Commission, scheduled for a vote in committee on Thursday, would remove unnecessary federal regulation of so-called end users, such as utilities, airlines and food processors, while improving safeguards against misuse of customer funds.
Four House Agriculture Committee leaders filed a bill to reauthorize the Commodity Futures Trading Commission. A mark up is scheduled for Wednesday at 10 a.m. ET. The meeting will be Webcast.