The White House has vetted candidates for the four vacant commissioner seats at the Commodity Futures Trading Commission, according to three people familiar with the matter who spoke to CNBC. It remains unclear when — or if — the administration will move forward with nominations.
The CFTC, which oversees derivatives markets, is designed to have five commissioners, with three from the president’s party and two from the opposing party. Currently, the agency has just one commissioner: Chairman Michael Selig.
Earlier this year, Bloomberg News reported a list of bipartisan names the White House was considering for the open seats. In early July, the Trump administration sent a letter to Senate leadership claiming Democrats had not provided recommendations for vacancies on both the CFTC and the Securities and Exchange Commission, which the administration cited as the reason for not yet filling openings at either agency.
Senate Minority Leader Chuck Schumer, D-N.Y., responded with a letter at the end of July offering suggestions for the Democratic slots at both agencies. A spokesperson for Schumer’s office said Democrats have supported full, bipartisan commissions and have sent names for the CFTC and SEC vacancies, but have not heard back from the White House. The spokesperson added that if the administration has vetted candidates and is ready to make nominations, it should do so quickly and work with Democrats.
The White House did not respond to CNBC’s request for comment. CNBC could not verify the names Schumer sent or whether any of them are among the vetted candidates.
Clarity Act and the politics of nominations
The timing is intertwined with Senate efforts to pass the Clarity Act, a cryptocurrency market structure bill that requires 60 votes. Democrats have criticized the White House for leaving the Democratic-designated SEC seat and four bipartisan CFTC slots open, and their support is essential for passage.
One source familiar with the vetting and a Republican involved in the Clarity Act told CNBC that filling the CFTC vacancies would be a key concession the White House could offer to secure Democratic votes on the bill. But that issue is just one of several complications, including ethics concerns about President Donald Trump’s family’s crypto interests.
The Senate is scheduled to hold a key procedural vote on the Clarity Act on Sept. 15.
The Republican source cautioned that if the bill fails in the Senate, they expect the White House will not fill any of the four remaining commissioner seats, despite personally preferring a full slate.
Bipartisan calls for full commission
Pressure to fill the seats has come from both parties. In May, House Agriculture Committee Chairman Rep. Glenn “GT” Thompson, R-Pa., and ranking member Rep. Angie Craig, D-Minn., urged Trump to nominate commissioners. That committee oversees the CFTC in the House.
Craig reiterated her call in a statement to CNBC, saying the administration needs to ensure the CFTC has the staff and resources to fulfill its mission, which includes a full, bipartisan panel of commissioners.
Thompson told CNBC on Tuesday that, like Schumer’s office, he has not heard from the White House about potential nominees. “I’ve had no feedback,” he said. “But I truly believe that good governance means that the qualified people are put forth to be Senate confirmed to serve in those positions.”
Source: www.cnbc.com — https://www.cnbc.com/2026/09/04/white-house-has-vetted-candidates-for-key-cftc-vacancies-sources-tell-cnbc.html
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