Overview
Bloomberg BNA quoted Steptoe partners Micah Green and Matthew Kulkin in an article titled “CFTC Keeps Doing Business With Only Two Commissioners.” The article, published March 7, discusses why President Trump’s decision to withdraw a pair of pending Commodity Futures Trading Commission (CFTC) nominations isn’t likely to incapacitate the agency, thanks in part to a good working relationship between the two remaining commissioners. Acting Chairman J. Christopher Giancarlo, a Republican, and Commissioner Sharon Bowen, a Democrat, are the only ones serving on the five-member CFTC since former Chairman Timothy Massad left the agency in February.
Mr. Green, who co-chairs the firm’s Government Affairs and Public Policy Group and also heads the cross-disciplinary financial services practice, says: “There’s a degree of comity and camaraderie that exists, and I don’t think it’s a hostile environment at all.” He adds that both commissioners “get along very well [and] their staffs work very well together.”
Mr. Kulkin tells Bloomberg BNA: “What you’ll see in the short term is action only where there is complete agreement. On motherhood and apple pie-type issues, you might see the [CFTC] move forward. Where things will slow down a little are areas where you naturally would have discussion, negotiation and compromise.”
The full article can be read at Bloomberg BNA.
