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The Commodity Futures Trading Commission (CFTC) will see a major political shift following Democratic Commissioner Christy Goldsmith Romero’s departure. Romero said that she would exit once Congress confirmed Brian Quintenz, currently the global head of policy at venture capital firm Andreessen Horowitz. Quintenz will still need to secure confirmation from the US Senate—and a vote has yet to be scheduled—before he can take over from acting chair Caroline Pham. If the Senate confirms Quintenz, Commissioner Kristin Johnson will be the lone Democratic member on the commission. A Republican majority has the potential to shape the CFTC’s approach to market oversight, including its position on digital assets and financial derivatives. No more than three commissioners can be from the same political party at a time, meaning once Quintenz joins, the final spot must be filled by a Democrat. Goldsmith Romero eagerly contributed during her time as a federal officer Christy Goldsmith Romero has 23 years of work in federal service and has held senior roles in various financial regulatory agencies. Before joining the CFTC, she served at the Securities and Exchange Commission (SEC) and the Special Inspector General for the Troubled Asset Relief Program (TARP) at the US Department of the Treasury. Throughout her career, she advocated for financial stability, market integrity, and the protection of investors. In a statement on her resignation, Goldsmith Romero said she was grateful for the opportunity to serve and emphasized her commitment to sound financial regulation. She then noted how the strength of US financial markets, which she termed the “envy of the world,” has owed much to regulation throughout history. As the CFTC chair, Goldsmith Romero has steered the derivatives market through expansions and geopolitical shocks. She prioritized market integrity and resilience and fixed the plumbing of the financial markets. Once prepared, her work…

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Filed under: News - @ February 26, 2025 11:27 pm