Oct. 25 (Bloomberg) -- Mark P. Wetjen, a senior adviser to Senate Majority Leader Harry Reid, has been sworn in as a member of the U.S. Commodity Futures Trading Commission, the regulator writing new rules for the $601 trillion swaps market, according to Steve Adamske, the agency’s spokesman.
Wetjen, who was confirmed unanimously by the Senate on Oct. 21, replaces fellow Democrat Michael V. Dunn on the five-member commission.
The CFTC and Securities and Exchange Commission are leading efforts to write new derivatives regulations after largely unregulated trades helped fuel the 2008 credit crisis.
--Editors: Gregory Mott, Maura Reynolds
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