Wetjen to be acting CFTC chairman

Zachary Warmbrodt | POLITICO Pro

Members of the CFTC have unanimously elected Commissioner Mark Wetjen to be acting chair when Chairman Gary Gensler steps down, the agency said today.

In a statement, Wetjen thanked fellow Commissioners Bart Chilton and Scott O'Malia for their support. The former aide to Senate Majority Leader Harry Reid joined the agency in October 2011.

Gensler said in an interview last week that he expects to step down in early January.

President Barack Obama has nominated Timothy Massad to replace Gensler, but the Senate won’t act on his nomination until sometime early next year.

"Mark will be a steady hand during this transition period," said Chilton, a Democrat who has served on the commission longer than Wetjen but is planning to step down.

Read the full statement in POLITICO Pro here.