Release: 5220-06

For Release: August 23, 2006

Michael V. Dunn Sworn in to a Second Term as CFTC Commissioner

Washington, D.C. – Commodity Futures Trading Commission (CFTC) Commissioner Michael V. Dunn was sworn in today to a second term as Commissioner of the CFTC, the federal agency that regulates commodity futures and option trading in the United States. In a ceremony at the Federal Court House in Des Moines, IA, and attended by U.S. Senator Tom Harkin (D-IA), U.S. District Judge Robert Pratt administered the oath of office.

Commissioner Dunn was nominated to a second term as a Commissioner by President Bush on June 16, 2006, and confirmed by the Senate on August 3, 2006. Mr. Dunn has served as a Commissioner since December 6, 2004. On January 9, 2006, he was chosen by his colleagues to chair the Commission’s Agriculture Advisory Committee and on March 13, 2006, he was appointed Chairman of the Commission’s Forex Task Force. The objective of his task force is to raise the public’s awareness of fraudulent activity in the retail foreign currency (forex) futures and option markets and to highlight the Commission’s enforcement activities in this area.

Commenting on the reappointment of Commissioner Dunn, CFTC Chairman Reuben Jeffery III stated:

“Mike’s commitment to ensuring that the Commission discharges its responsibility for protecting the integrity, fairness, and transparency of the nation’s futures and option markets has been exemplary. He has worked tirelessly as chair of the Commission’s Agricultural Advisory Committee and the Commission’s Forex Task Force. I, along with my fellow Commissioners, congratulate Mike on his reappointment and look forward to working with him during his second term.”

Prior to joining the CFTC, Commissioner Dunn served as Director, Office of Policy and Analysis (FCA) at the Farm Credit Administration. Prior to joining FCA, Mr. Dunn was the Under Secretary of Agriculture for Marketing and Regulatory Programs at the U.S. Department of Agriculture (USDA). He also served as the Acting Under Secretary for Rural Economic and Community Development and as Administrator of the Farmers Home Administration at USDA.

A native of Keokuk, Iowa, and a current resident of Harpers Ferry, West Virginia, Mr. Dunn received his B.A. and M.A. degrees from the University of New Mexico.

Media Contacts
Alan Sobba
202-418-5080

R. David Gary
202-418-5085

Last Updated: March 18, 2007