Statement of CFTC Acting Chairman Michael V. Dunn Regarding Confirmation of Gary Gensler

May 20, 2009

I am very pleased that the U.S. Senate today confirmed President Obama’s nominee to head the CFTC, Gary Gensler, who is poised to take over the leadership of an agency that I have had the distinct pleasure and privilege to chair over the past four months.   Working with the extremely dedicated and talented CFTC staff, I have developed an increased appreciation for the mission of the agency and the long hours of work that are required for the CFTC to discharge successfully its responsibilities and ensure that the futures markets function fairly and efficiently and remain free of fraud, abuse, and manipulation.

There is no doubt in my mind that Chairman Gensler will experience the same sense of fulfillment in working with staff at the Commission to not only maintain the stellar regulatory performance of the past; but, to expand the current panoply of oversight to an expanded charge --- the OTC derivatives markets.

I wish to congratulate personally Chairman Gensler on his confirmation and to extend my best wishes for a most successful tenure as the Chairman of an outstanding federal agency.

I would also like to express my profound appreciation to my fellow Commissioners and all CFTC staff for their support, encouragement, and outstanding effort in making the past four months a truly satisfying experience…challenging and demanding; but, above all, enjoyable.

Last Updated: June 10, 2010