August 29, 2018

U.S. Senate Confirms Stump, Berkovitz as CFTC Commissioners

Washington, DC — Late yesterday, the U.S. Senate confirmed the nominations of Dawn Stump and Dan Berkovitz as Commissioners of the Commodity Futures Trading Commission (CFTC). Their confirmations complete the slate of five commissioners to fulfill the agency’s mission.

Chairman J. Christopher Giancarlo issued the following statement regarding their confirmation:

“On behalf of the entire agency, I am delighted to welcome Dawn Stump and Dan Berkovitz as Commissioners to the Commodity Futures Trading Commission. The agency’s work to carry out its mission to foster open, transparent, competitive and financially sound markets free from fraud and manipulation has never been more important. I strongly believe that a five member commission will inform the best and most lasting work possible. Dan and Dawn bring knowledge and experience to the Commission that will be respected and appreciated by all. I look forward to working with them to keep America’s derivatives markets strong and the envy of the world.”  

Commissioners Brian Quintenz and Rostin Behnam, also issued the following statements:

Commissioner Quintenz statement:

“I am so pleased to have Dawn and Dan coming on board.  Both commissioners bring with them a wealth of knowledge that will be invaluable to our oversight of the American derivatives markets.  I look forward to collaborating with all of my fellow commissioners as we work to advance the Commission’s mission.”

Commissioner Behnam statement:

“I congratulate Dan Berkovitz and Dawn Stump on their U.S. Senate confirmations to be Commissioners at the Commodity Futures Trading Commission. I look forward to building on the working relationships I’ve had the privilege of developing with each over our many years in Washington. Each will arrive at the CFTC with an unparalleled wealth of knowledge of and direct experience in the derivatives markets. The culmination of a full commission, the first since 2014, is an important step towards completing the critical work mandated after the 2008 financial crisis and addressing the many important issues and emerging challenges ahead.”  

Stump is currently President of Stump Strategic, a consulting firm she founded in 2016. Prior to this, she was the Executive Director and Senior Vice President of U.S. Policy for the Futures Industry Association and as a Vice President at the New York Stock Exchange.

Berkovitz is a Partner and Co-chair of the futures and derivatives practice at the law firm of WilmerHale. He also served as General Counsel of the CFTC Commodity Futures Trading Commission from 2009-2013.