Following last week's election victory for President George
Bush and the extension of the Republican majority in both
houses, Congress is poised to address personnel issues at
Commodity Futures Trading Commission (CFTC) and look at
possible changes to futures legislation during the commission's
The imminent change expected is the appointment of a
Democrat to a commissioner's post at CFTC. Fred Hatfield, who
served as chief of staff to Louisiana Senator John Breaux, is
widely expected to gain Congressional approval, having been
named by Bush last month (see FO Week Vol 9 No 41).
Acting chairman Sharon Brown-Hruska is expected to be given a
full term as chairman.
Along with current commissioner Walt Lukken, that would give
CFTC three commissioners with two seats remaining vacant. Some
industry sources say a package deal may be in the works between
the two political parties to fill the remaining seats with a
Republican and a Democrat. CFTC rules state that no more than
three of the five commissioners can be from the same political
party. Brown-Hruska and Lukken are both Republicans.
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