Release: 4594-01
For Release: December 31, 2001

James E. Newsome Sworn In as CFTC Chairman

Washington, D.C. -- CFTC Commissioner James E. Newsome was sworn in on December 27, 2001, as the ninth Chairman of the Commodity Futures Trading Commission (CFTC), the federal agency that regulates commodity futures and options trading in the U.S.

Mr. Newsome was nominated for a second term as a Commissioner by President Bush on October 31, 2001, and confirmed by the Senate on December 20, 2001, to a term expiring June 19, 2006. Mr. Newsome has served as a CFTC Commissioner since August 10, 1998, and on January 5, 2001, he was elected by the Commission to serve as Acting Chairman, effective January 20, 2001.

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