[ by Melanie Gretchen ]

CFTC Chairman Gary Gensler isn't giving in to speculation as to whether or not he will accept President Obama's request that he serves a second term.  Instead, Mr. Gensler is staying 'mum' on the subject – except to confirm media reports that he has not decided either way.

"I usually try not to disagree with the press.  I'm not going to go further on the story other than to say this is an incredible job, an opportunity, a privilege, and there's an awful lot more to do here."

As Chairman since 2009, Mr. Gensler has been tremendously effective, bringing the once-sleepy regulator out of obscurity, while enacting such new policies as requiring OTC swaps to be traded on regulated platforms and centrally cleared, in order to help reduce the risk of a default.  In the past, the CFTC hardly ever was mentioned in the same sentence as the SEC.  All that has changed, however.

As it stands now, Mr. Gensler has not completed his first full term as CFTC Chairman, which runs until the end of the year.  Should he decide to leave, a successor has already been selected - Commissioner Mark Wetjen, a Democrat, who had worked for Senate Majority Leader Harry Reid. 

For C-I's earlier post on this subject, go to: [BEHIND THE NEWS, 3/5/13, "CFTC Gensler to Remain (For Now)"].

For further details, go to [Reuters, 3/13/13].