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CFTC Commissioner Mark P. Wetjen, a former acting CFTC chairman, has announced his resignation from the commission, effective August 28, 2015, CFTC officials say.
A Democrat, Wetjen gave no explanation for his departure and has not announced his plans for the future.
Nearly four years ago, he was unanimously confirmed by the U.S. Senate in October 2011 and served as acting chairman of the CFTC from January 2014 to June 2014.
“Today, I informed President Obama of my intention to resign as a CFTC commissioner later this month,” Wetjen says in a statement. “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.”
During his time as commissioner, Wetjen helped implement the Dodd-Frank Act, “supporting and helping craft over 90 CFTC actions,” according to the CFTC. “Additionally, during his chairmanship, Mr. Wetjen oversaw the implementation of the first trading mandate for certain interest rate and credit default swaps.”
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