Release: 3936-96

For Release: September 4, 1996


Washington -- David D. Spears was sworn in yesterday as a Commissioner of the Commodity Futures Trading Commission (CFTC), the federal agency that regulates commodity futures and option trading in the U.S.

The oath of office was administered by CFTC Chairperson Brooksley E. Born in a ceremony attended by CFTC Commissioners and senior staff. Mr. Spears was nominated by President Clinton on May 3, 1996, and confirmed by the Senate on August 2, 1996, to a term expiring April 15, 2000.

A native of Wichita, Kansas, Mr. Spears received his B.A. degree in Agricultural Economics from Kansas State University in 1979.

After graduating from college, Mr. Spears joined the Wichita Bank for Cooperatives in the lending division. He continued to work at the bank (later Cobank) in various positions within the lending division until October 1989. For the past seven years, Mr. Spears has served Senator Robert Dole in several senior staff capacities. Starting in 1989, Mr. Spears served as a legislative assistant in Washington, D.C., specializing in agriculture and trade issues. Beginning in July 1992, and continuing until early this year, Mr. Spears served as Senator Dole's State Director in Wichita, Kansas.