Former Senate staff member Renteria to be nominated for CFTC chair

Amanda Renteria, who previously held a prominent position working for a U.S. senator, will soon be nominated to head by the U.S. Commodity Futures Trading Commission by President Barack Obama, various sources have told The Washington Post.

Amanda Renteria, who previously held a prominent position working for a U.S. senator, will soon be nominated to head the U.S. Commodity Futures Trading Commission by President Barack Obama, various sources have told The Washington Post.

This came after individuals close to the matter told The Wall Street Journal in May that the White House was thinking about nominating the former Senate worker for the top role at the CFTC.

Renteria served as the chief of staff to Senate Agriculture Committee Chairwoman Debbie Stabenow. People familiar with the matter told the media outlet that the possible nominee for CFTC chairman worked on Dodd-Frank when she was involved with the Senate, but was not a key contributor to the landmark reform.

The Huffington Post reports that in the event that she ascends to this top role at the government agency, Renteria needs to navigate the current controversy that surrounds the derivatives regulations that affect cross-border swaps transactions, at a time when the rules involving these trades are highly contentious.

A wide range of market participants have recently registered with the CFTC as either swaps dealers or major swaps participants, and the number of entities signing up in this way shows the widespread impact of these OTC derivatives regulations.

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