Senate Confirms Michael Selig for CFTC Chair
Commentary by Steven Lofchie
The Senate confirmed Michael Selig as Chair of the U.S. Commodity Futures Trading Commission by a vote of 53-43. He takes over the position from Caroline Pham, who served as Acting Chair for the past year.
Mr. Selig has been serving as Chief Counsel to the SEC's Crypto Task Force and Senior Advisor to the SEC Chair Paul Atkins. Prior to that, he was a securities and commodities law attorney at several global law firms.
Commentary
In wishing the best for new Chair Selig, it should also be noted that Acting Chair Pham had an impactful tenure in that role. She accomplished a remarkable amount to clean up nonsensical regulations. She made the CFTC's regulations more harmonious and less duplicative with the SEC's regime, curtailed enforcement overreach, and introduced a sensible regime for crypto assets. A job well done.