Tag: Andrew Behar

Back in 2016, US Senator Bernie Sanders opposed the confirmation of Gary Gensler as head of the Commodity Futures Trading Commission (CFTC) - the government department that regulates the country’s derivatives markets. But in the end, Gensler’s tough approach to implementing the Dodd–Frank Wall Street Reform and Consumer Protection Act, which sought reform in the derivatives market, won him support from progressives in the Democratic Party. His insider knowledge of the finance companies that benefited unfairly from the derivatives market was useful, because it meant he understood how they tried to circumvent regulations.

It is likely these skills are what led to Gensler’s expected nomination by president-elect Joe Biden to lead the Securities and Exchange Commission (SEC). His record of enforcement and fines at the CFTC hints at the possibility of a stricter future for the SEC, which has seen enforcement plummet under Trump. 

But what else…