CFTC CHAIRMAN WILLIAM J. RAINER RESIGNS

Washington -- The Commodity Futures Trading Commission (CFTC) announced today that Chairman William J. Rainer has submitted a letter of resignation to President William J. Clinton, effective January 19, 2001. Chairman Rainer was nominated by President Clinton to be the CFTC's 8th Chairman on August 4, 1999.

Chairman Rainer said:

"Public service is a privilege and I am grateful to have had the opportunity to serve in this capacity. I appreciate the hard work and effectiveness of my fellow Commissioners - Barbara Holum, David Spears, Jim Newsome and Tom Erickson - and of the dedicated professional staff at the agency."

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