Commodity Futures Trading Commission (CFTC) member Mark Wetjen was sworn in as the agency’s interim chairman. The change in leadership comes as the commission faces renewed criticism over efforts to implement its Dodd-Frank swaps regime and define the cross-border application of its rules.
Wetjen, a Democrat, replaces outgoing Chairman Gary Gensler, who concluded his five-year term with the agency on Jan. 3. Timothy Massad was nominated in November 2013 to be the agency’s permanent leader. His nomination has yet to be approved by the Senate.