CFTC Commissioner Christy Goldsmith Romero To Step Down From The Commission And Retire From Federal Service

With the fulfillment of her term, and the nomination of Brian Quintenz to succeed her, Commissioner Christy Goldsmith Romero will step down from the Commission upon Mr. Quintenz’s confirmation, and retire from federal service.  Commissioner Goldsmith Romero said, “It’s been a tremendous privilege to serve in the federal government for 23 years.  Following my wonderful tenure at the SEC and as the Special Inspector General for TARP at the Department of the Treasury, it has been a joy to be a CFTC Commissioner and serve alongside my fellow Commissioners and the CFTC staff.  History has shown how sound regulation plays a critical role in U.S. financial markets being the envy of the world, and I am honored to have played a part in promoting U.S. markets and protecting investors and customers.” 

“I congratulate my friend and fellow Commissioner, Christy Goldsmith Romero, on her retirement from decades of dedicated federal service” said Acting Chairman Caroline Pham. “Throughout her distinguished career, she has worked tirelessly to protect the American public and address risks in banking and financial services. I have appreciated her notable accomplishments towards our shared goal of supporting the CFTC’s robust enforcement program—to hold those who break the law accountable and deter bad actors from causing harm to our markets. In particular, Christy has been a thought leader in combatting fraud and addressing cybersecurity in new technologies such as AI and blockchain as sponsor of the CFTC’s Technology Advisory Committee. I will miss her partnership and collegiality on the Commission.”

Commissioner Goldsmith Romero is a well-regarded, trusted, and internationally recognized leader in financial regulation and oversight.  She has served as a Presidential appointee since 2012, was twice unanimously confirmed by the Senate, has testified before Congress 14 times, and was recently nominated to be the FDIC Chairman and Board Member.  Her work has received substantial media coverage, and she is a sought-after speaker.  

Commissioner Goldsmith Romero led the CFTC during a time of expansion of derivatives markets and amid geopolitical uncertainty.  Her overriding priority has been to ensure that markets work well—that they remain vibrant, resilient and have integrity.  She has visited farmers, agricultural and energy providers, and critical mineral providers, and met with exchanges, trading platforms, clearing houses, banks and brokers.

During her term, Commissioner Goldsmith Romero prioritized risk management, focusing on the Commission’s mission to promote market resilience.  Her work led to increased surveillance to ensure prices for food and fuel were not artificially increased by fraud or manipulation.  She led the drafting of the CFTC’s first proposed rule on cyber resilience for banks and brokers, which garnered a unanimous Commission vote.  She spoke about resilience to climate risk, given the impact of severe climate events on agricultural and energy markets. 

Commissioner Goldsmith Romero built on her career-long enforcement record of combating fraud and other illegality and of advancing investor and customer protection.  She changed the CFTC’s routine practice of settling all cases without requiring defendants to admit their misconduct and called for stricter penalties for recidivism and violations of anti-money laundering laws.  She proposed the creation of a National Financial Fraud Registry, and advocated that Congress define “retail customer” for derivatives markets.

Commissioner Goldsmith Romero has been a leader at the CFTC on future of finance issues.  She promoted responsible innovation and competition in the CFTC’s regulation of trading of digital assets and engaged with technology innovators.  She sponsored the CFTC’s Technology Advisory Committee, to which she added technology experts in cryptocurrency, stablecoins, blockchain, digital identity, AI, fintech, and cybersecurity.  The committee examined emerging technology and cyber resilience and released first-of-its-kind reports on “Decentralized Finance” and “Responsible AI in Financial Markets.”

Commissioner Goldsmith Romero was the first AANHPI lawyer to serve as a CFTC Commissioner and the first LGBTQIA+ Commissioner.  She thanks President Biden for her nomination, the U.S. Senate for its unanimous confirmation, and her current and former staff and CFTC for their outstanding public service.

About Commissioner Goldsmith Romero

Commissioner Goldsmith Romero was sworn in as a CFTC Commissioner on March 30, 2022, after being nominated by President Biden and unanimously confirmed by the Senate.  In June 2024, President Biden nominated her to be the FDIC Chairman and Board Member (nomination returned by the Senate in January 2025).

Prior to becoming a CFTC Commissioner, she served for 12 years at the Department of Treasury, including for a decade as the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), after being nominated by President Obama and unanimously confirmed by the Senate.  She continued to serve in that position throughout President Trump’s administration and the beginning of President Biden’s administration.  There, she led a nationwide law enforcement and audit watchdog office conducting oversight over TARP, the government’s response to the financial crisis that covered banks, derivatives, housing, the automotive industry and insurance.  She testified before Congress and served as a non-partisan Congressional resource on the U.S. financial system, the global financial crisis and TARP.  SIGTARP returned more than $11 billion to taxpayers and other victims, a 27 times return on investment.  SIGTARP developed a unique ability to find hidden fraud in banks.  SIGTARP investigations led to criminal charges against 465 defendants (including 75 bankers sentenced to prison and 121 homeowner scammers sentenced to prison), as well as civil charges by the DOJ, the SEC & others against 25 entities including large financial institutions.

Commissioner Goldsmith Romero served for six years at the U.S. Securities and Exchange Commission, including as counsel to two SEC Chairs, Christopher Cox (R) and Mary Schapiro (I), after serving on the staff of the Enforcement Division.  She also was an adjunct professor at Georgetown University Law Center teaching a class on the SEC and securities regulation, and at the University of Virginia Law School teaching classes on cryptocurrency regulation and federal oversight.  Prior to joining the SEC, she worked at national law firms including Jenner & Block, Snell and Wilmer, and Akin Gump Strauss Hauer & Feld, and served a federal clerkship.