Commodity Futures Trading Commission (CFTC) Acting Chairman Walter L. Lukken today issued the following statement:
“As I announced late last year, I intend to step aside as Acting Chairman of the Commodity Futures Trading Commission on January 20, 2009 when President-elect Obama is sworn into office. Although my term as Commissioner does not end until 2010, I will immediately begin to explore opportunities outside of government. The Commission has elected Commissioner Mike Dunn to replace me as Acting Chairman until a permanent Chairman is confirmed by the Senate.
“It has been an honor to serve as Acting Chairman of the CFTC, particularly during a very tumultuous and challenging period for our nation, our economy, and our commodity futures and options markets. Over the last 18 months, the agency has evolved significantly to bring greater transparency and smarter oversight to our markets. During this time, the Commission worked with Congress to enact the CFTC’s reauthorization after years of delay, improved the transparency of electronic energy derivatives markets and OTC swap dealers, enhanced CFTC fraud powers over foreign currency scams, facilitated the clearing of credit default swaps and other OTC derivatives, signed unprecedented cooperation agreements with the SEC and Federal Reserve, and generated the greatest funding jump in our agency’s history.
“I thank President Bush, my fellow Commissioners, and the extraordinary CFTC staff for the privilege of serving the public by safeguarding the integrity of our commodity futures and options markets.”
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