CFTC Commissioner Dan M. Berkovitz will leave the CFTC on October 15, 2021.
The Senate confirmed Mr. Berkovitz in August 2018 to serve the remainder of a term that was set to expire in 2023. Before being appointed Commissioner, Mr. Berkovitz served a variety of roles in government, including as CFTC General Counsel and Deputy Representative to the Financial Stability Oversight Council.
In his statement, Mr. Berkovitz reflected on some of the milestones during his time serving at the CFTC including the strengthening of the swaps markets:
"[T]he U.S. swaps market today—with mandatory clearing and transparent trading of standardized swaps, registered and regulated swap dealing, margin requirements for uncleared swaps, and comprehensive swap data reporting—is more resilient, more transparent, more liquid, less susceptible to manipulation, and more cost-effective for end users."
The announcement of Mr. Berkovitz's plans to leave the agency comes on the heels of former Commissioner Brian Quintenz's decision to step down effective August 31, 2021. Upon Mr. Berkovitz's departure, the five-member commission will have only two remaining commissioners. (Former Chair Tarbert resigned from his role and as Commissioner on March 5, 2021.)
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