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On August 28, the Senate approved by unanimous consent the President’s nominations of Dawn Stump and Dan Berkovitz to serve as Commissioners on the Commodity Futures Trading Commission (CFTC). Ms. Stump was confirmed to a term that would expire in April 2022 and Mr. Berkovitz’s term would expire in April 2023. Prior to joining the CFTC, Ms. Stump was President of a consulting firm she established in 2016 called Stump Strategic. She also served as the Executive Director and Senior Vice President of U.S. Policy for the Futures Industry Association and as a Vice President at the New York Stock Exchange. Mr. Berkovitz was a Partner and co-chair of the futures and derivatives practice at the law firm of WilmerHale. He previously served as General Counsel of the CFTC from 2009 to 2013 and has held a number of positions on several Senate committees. He has spoken at APGA’s Annual Conference and Gas Supply Conferences in the past to discuss a number of issues ranging from a report regarding the impact of excessive speculation in the natural gas market and market transparency.

Over the last several years, APGA has worked closely with the CFTC on a wide variety of issues ranging from the need to increase market transparency to aggregate position limits. More recently, APGA is seeking a clarification regarding margin requirements and the impact they will have on natural gas prepayment transactions.

With the confirmation of Mr. Berkovitz and Ms. Stump, the CFTC now has all five Commission seats filled. For questions on this article, please contact Dave Schryver of APGA staff at 202-464-2742 or by email at dschryver@apga.org.