CFTC’s Chilton To Resign Friday

Mar 18 2014 | 10:24am ET

After sticking around for an extra few months to see the Volcker rule through, Bart Chilton will leave the Commodity Futures Trading Commission at the end of the week.

Chilton, who has served as a CFTC commissioner for seven years, had planned to leave last year. But he agreed, at the urging of lawmakers, to remain on until the final approval of the Volcker rule—which strictly limits banks’ alternative investment activities and bars them from proprietary trading—in December, as well as until a successor was identified.

That has also now come, with President Barack Obama’s nomination of Latham & Watkins lawyer Sharon Bowen to fill his seat. But Bowen, CFTC Chairman-designate Timothy Massad and Republican nominee J. Christopher Giancarlo are all awaiting confirmation by the Senate, which means that Chilton’s exit will leave the CFTC with just two commissioners, led by acting Chairman Mark Wetjen.

Chilton said he plans to write a book about how power-brokers affected regulatory policy before, during and after the economic crises. Chilton has been one of the toughest voices on the commission for strict regulation.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…