White House Completes Vetting of CFTC Commissioner Candidates, Nomination Action Remains Uncertain

Signage is seen outside of the Commodity Futures Trading Commission headquarters in Washington, Aug. 30, 2020.

Andrew Kelly | Reuters

The White House has vetted candidates for the four open commissioner positions at the Commodity Futures Trading Commission, three people with knowledge of the matter told CNBC. However, it remains unclear whether or when the administration will move forward with nominations.

The CFTC’s five commissioners must consist of members from the party holding the White House and two from the opposing party. Currently, the commission— which oversees derivatives contracts— is staffed by only one commissioner, Chairman Michael Selig.

Bloomberg News reported earlier this year on bipartisan names the White House was considering for the vacant seats. In early July, the Trump administration sent a letter to Senate leadership asserting that Democrats had not yet submitted recommendations for vacancies at both the CFTC and the Securities and Exchange Commission, citing this as the reason for the delay in filling positions at the two Wall Street regulatory agencies.

Senate Minority Leader Chuck Schumer, D‑N.Y., sent a letter at the end of July proposing candidates for the Democratic slots at both agencies. In a statement, a Schumer spokesperson said, “Democrats support having full, bipartisan commissions. We have done our part and sent the White House names for the Democratic vacancies on the CFTC and SEC.” The spokesperson added that the office had heard nothing back from the White House and urged the administration to act quickly if it had vetted nominees.

The White House did not respond to a request for comment on the matter.

CNBC could not confirm whether the names Schumer submitted were among those vetted by the White House.

As the Senate works toward passing the Clarity Act—a cryptocurrency market‑structure proposal—Democrats, whose votes are essential to reach the required 60‑vote threshold, have criticized the administration for leaving the Democratic seats on the SEC and the four bipartisan slots on the CFTC vacant.

Michael Selig, chair of the Commodity Futures Trading Commission (CFTC), during a Bloomberg Television interview at the CFTC headquarters in Washington, DC, US, on Thursday, Aug. 20, 2026.

Daniel Heuer | Bloomberg | Getty Images

One of the people familiar with the vetting process, a Republican involved with the Clarity legislation, noted that filling the CFTC seats would be a key concession needed to secure passage of the bill. However, this issue is only one of several obstacles hampering the measure, including ethics concerns surrounding President Donald Trump’s family crypto interests.

The Senate is slated for a critical procedural vote on the Clarity Act on Sept. 15.

The Republican working on the legislation told CNBC that if the proposal fails to gain Senate approval, the administration is unlikely to nominate any of the four remaining CFTC commissioner positions, despite personally favoring a fully staffed commission.

Calls for the White House to fill the four open commissioner seats have been bipartisan. In May, House Agriculture Committee Chairman Rep. Glenn “GT” Thompson of Pennsylvania and ranking member Rep. Angie Craig of Minnesota urged President Trump to nominate commissioners to the vacancies. The committee oversees CFTC matters in the House.

Craig reiterated that appeal in a statement to CNBC. “The Trump administration needs to ensure the CFTC has the staff and resources it needs to fulfill its mission, and that includes a full bipartisan panel of commissioners,” she said.

On Tuesday, Thompson said he, like Schumer’s office, had yet to receive any indication from the White House regarding potential nominations. “I’ve had no feedback,” he said. “But I truly believe that good governance means that qualified people are put forward for Senate confirmation to serve in those positions.”

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