For Release: July 19, 2006
Washington, D.C. – The Commodity Futures Trading Commission (CFTC) announced today the resignation of Commissioner Sharon Brown-Hruska, effective July 28, 2006. She was first sworn in on August 7, 2002. Commissioner Brown-Hruska was designated by President George W. Bush to serve as Acting Chairman of the Commodity Futures Trading Commission on July 26, 2004, and served as Acting Chairman until July 10, 2005. Dr. Brown-Hruska was confirmed by the Senate on November 21, 2004 for a second term as CFTC Commissioner.
During her tenure as Acting Chairman, Dr. Brown-Hruska served as a member of the President’s Working Group on Financial Markets. She also testified before the U.S. Senate Committee on Agriculture, Nutrition, and Forestry and the U.S. House of Representatives Subcommittee on General Farm Commodities and Risk Management in support of legislation to reauthorize the CFTC. Commissioner Brown-Hruska was instrumental in initiating the Transatlantic Cooperation Initiative between the Committee of European Securities Regulators and the CFTC.
Commissioner Brown-Hruska was Chairman of the Website Development Committee of the Financial Literacy and Education Commission, and Chairman of the CFTC’s Technology Advisory Committee. She has frequently written and spoken to various groups on a number of issues including energy derivatives, derivatives generally, hedge funds, and international regulation. She represented the Commission at numerous domestic and international forums, including the International Organization of Securities Commissions and the World Forum on Energy Regulation.
Expressing her appreciation for the Commissioners and staff at the agency where she began her career as a staff economist and returned as a Commissioner in 2002, Commissioner Brown-Hruska stated: “As a regulator, it has been my view that markets should be able to operate efficiently and with integrity, free from fraud and manipulation. I am proud of our efforts in this regard, and the progress that we have made in creating opportunities for the global expansion of the markets and in reducing costs for market participants and customers. While I look forward to the challenges before me, I will always have a special place in my heart for the Commissioners and staff of the CFTC.”
R. David Gary
Last Updated: March 18, 2007