Chairman Gary Gensler’s recusal from the U.S. Commodity Futures Trading Commission’s investigation into the collapse of MF Global Holdings Ltd. was unnecessary and wasn’t required by ethics rules, according to the agency’s internal watchdog.
U.S. regulators’ Dodd-Frank rules properly balance Wall Street’s pursuit of profits with the public’s need for a stable financial system, said outgoing Commodity Futures Trading Commission Chairman Gary Gensler.
The Obama administration has opened discussions with Gary Gensler about serving a possible second term as chairman of the Commodity Futures Trading Commission, according to a person briefed on the matter.
Gary Gensler’s term as chairman of the U.S. agency writing regulations required by the Dodd-Frank Act for the global swaps market ends tomorrow. All the same, his ability to craft rules for companies including Goldman Sachs Group Inc. and JPMorgan Chase & Co. could extend at least until next year.