Release: 5264-06

For Release: December 14, 2006

CFTC Commissioner Frederick W. Hatfield Resigns

Washington, D.C. – The Commodity Futures Trading Commission (CFTC) announced today that Commissioner Frederick W. Hatfield has submitted a letter of resignation to President George W. Bush, effective December 31, 2006.

Commissioner Hatfield was nominated as a Commissioner of the CFTC by President Bush on October 8, 2004. He was confirmed by the Senate on November 21, 2004 to a term expiring April 13, 2008. He was sworn in on December 6, 2004.

In submitting his resignation, Commissioner Hatfield said,

“I sincerely enjoyed my time at the Commission, during which we addressed several issues that are indicative of the dynamic nature of the futures industry. I was consistently impressed by the innovative spirit of market participants. I also commend the CFTC staff for their knowledge, dedication and professionalism, and thank each of them for all their assistance. Finally, I thank my fellow Commissioners for their friendship and collegiality and wish them all the best in the years to come.”

In acknowledging Commissioner Hatfield’s resignation, Chairman Reuben Jeffery III said,

“The Commission has benefited immensely from the knowledge, experience, and commitment that Fred brought to his appointment as a CFTC Commissioner. With Fred’s significant contributions over the past two years, the Commission has made tremendous progress in creating a regulatory climate that has not only fostered exponential volume growth in the markets, both domestic and foreign, but has also encouraged the creation of many unique products that have served the hedging and price discovery needs of market users. On behalf of my fellow Commissioners and the entire Commission staff, I wish Fred every success in his future endeavors.”

Media Contacts
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Last Updated: March 18, 2007