U.S. Senate committee to consider nominees for derivatives regulator

09/15/2016 7:00

WASHINGTON, Sept 15 (Reuters) - A Senate panel on Thursday will consider two nominees for seats on the Commodity Futures Trading Commission, the top U.S. regulator for derivatives and commodity markets, which have been vacant for more than a year.

Six months ago, President Barack Obama nominated Chris Brummer, a law professor at Georgetown University, and Brian Quintenz, an investment firm founder who previously worked for former Republican U.S. Representative Deborah Pryce, for five-year terms on the CFTC.

The two will face questions from members of the Senate Agriculture Committee, which will then vote on confirming the nominations at a separate business meeting, as prescribed by committee rules. If approved, the nominations would go to the full Senate.

The commission has not had a full five-member complement since July 2014, when Commissioner Scott O'Malia resigned. Fellow Commissioner Mark Wetjen left the agency in August 2015.

The Republican-led Congress has been slow to take up Obama's nominations for a variety of posts. In May, the Senate Banking Committee approved two nominees for the Securities and Exchange Commission, more than six months after the Democratic president put the names forward, but the full Senate has not yet voted on them. (Reporting by Lisa Lambert; Editing by Peter Cooney)

09/15/2016 7:00