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White House cites lack of Democratic names for SEC and CFTC vacancies
The SEC has two vacant Democratic seats, and the CFTC chair and sole commissioner is Republican Michael Selig.
The White House said it had not received any names from Senate Democrats in response to requests tied to leadership vacancies at the Securities and Exchange Commission and the Commodity Futures Trading Commission, according to a letter discussed by Cointelegraph.
Cointelegraph reports White House officials said they had already solicited potential nominees from Senate Democrats, following a June 10 request from 12 Senate Democrats that raised staffing concerns across federal agencies including the SEC and CFTC.
The article says both regulators have leadership gaps, with only Republican members nominated and confirmed. As of Thursday, the SEC had two vacant Democratic seats, while three Republican commissioners remained, and one, Hester Peirce, was expected to leave by November.
On the CFTC side, Cointelegraph reports the chair and sole commissioner is Republican Michael Selig, who has defended the agency’s “exclusive jurisdiction” over prediction market companies. The filing adds that Senate Democrats have criticized the White House for not engaging in what they described as a normal process for identifying Democratic nominees.