Senate Ag approves Behnam nomination
The Senate Agriculture Committee today moved to send President Biden’s nomination of Rostin Behnam to be chairman and commissioner of the Commodity Futures Trading Commission to the Senate floor.
Behnam has served as a commissioner on the CFTC for four years and was nominated for a second term earlier this year. He has served as acting chairman since President Biden took office. The committee held his confirmation hearing on Oct. 27.
“The quick vote to move Mr. Behnam forward as chairman and commissioner is a testament to strong bipartisan support for his nomination and the urgency we face in ensuring the CFTC is at full force,” Senate Agriculture Committee Chairwoman Debbie Stabenow, D-Mich., said today.
“If confirmed, Chairman Behnam will oversee the CFTC at a time when our markets are undergoing a significant evolution. As we navigate what the future of financial markets looks like for farmers, families and small businesses, I know we can trust Chairman Behnam’s leadership and expertise to protect our economy,” Stabenow said.
“Rostin Behnam has proven himself to be a capable leader during his tenure as acting chairman of the CFTC,” said Sen. John Boozman, R-Ark., the ranking member on the committee.
‘He is well-qualified, understands agriculture and brings a measured approach to regulating. I urge my colleagues to act swiftly to confirm Mr. Behnam so he can officially take helm of an agency that regulates a wide range of financial products that are essential tools for end users like farmers, ranchers, municipalities and pension funds,
The National Grain and Feed Association today urged the full Senate to confirm Behnam.
“Acting Chairman Behnam has the experience and background that make him exceptionally qualified to serve as CFTC chairman,” noted NGFA President and CEO Mike Seyfert.
“We deeply appreciate the willingness of Mr. Behnam to be open to NGFA-member companies’ input on rulemakings during his time as CFTC commissioner and look forward to working with him as chairman. NGFA urges the full Senate to approve his nomination.”
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