The U.S. Senate confirmed Heath P. Tarbert to succeed J. Christopher Giancarlo as CFTC Chair.
Mr. Tarbert is currently the Acting Under Secretary for International Affairs at the Department of Treasury. He previously served as the Assistant Secretary for the International Markets. Prior to joining the Treasury, Mr. Tarbert was a partner at Allen & Overy LLP.
Mr. Giancarlo will stay on as Chair until July 15, 2019.
Commentary / Steven Lofchie
Welcome to incoming Chair Tarbert. He has big shoes to fill.
Mr. Giancarlo was a principled, thoughtful and hard working regulator. Forward-looking on issues such as fintech, cybersecurity and market interconnectedness, he communicated clearly the intellectual principles which guided him. His willingness to put out those white papers demonstrated an open and considered approach to complex regulatory policy questions. He was not afraid to take on issues and critics, but he also knew how and when to compromise and move on. It is not necessary to agree with his position on every issue in order to appreciate that he was completely dedicated to implementing the law in a way that served the markets, market participants, and the U.S. economy - all while acknowledging the similar concerns and goals of regulators outside the United States. Three cheers would not be enough.
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