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White House withdraws nomination of Brian Quintenz as CFTC Chair amid regulatory and market stability updates

Saturday, 4 October 2025 4:05AM UTC

The White House has withdrawn Brian Quintenz’s nomination for CFTC Chair, as the agency introduces new advisories, collaborates with the SEC, and extends compliance deadlines amid digital asset innovation and efforts to strengthen market oversight.

The White House has withdrawn the nomination of Brian Quintenz for Chair of the Commodity Futures Trading Commission (CFTC), a surprising move confirmed by Quintenz on September 30. This development marks a significant turn in the leadership trajectory of the agency that plays a critical role in regulating the U.S. derivatives markets.

In addition to this leadership update, the CFTC issued several important advisories and notices on the same day aimed at ensuring market stability and operational clarity amid potential government funding lapses. The CFTC reminded futures commission merchants, introducing brokers, designated contract markets, derivatives clearing organisations, and registered futures associations of their existing regulatory obligations concerning preparations for possible market disruptions during a lapse in government appropriations. This advisory reinforces preparedness without imposing new regulatory duties. Complementing this, the Commission outlined a detailed plan addressing the continuation, shutdown, and eventual resumption of operations in such an event, providing regulatory certainty to all parties engaged with the Commission.

Notably, the CFTC’s Division of Market Oversight and Division of Clearing and Risk also announced a no-action position regarding swap data reporting and recordkeeping regulations for binary options related to electricity and power markets. This followed a request from Electron Exchange DCM LLC and Electron Exchange DCO LLC, which plan to list and clear cash-settled binary options in these sectors. The no-action letters indicate that the Commission will not pursue enforcement actions against these entities or their participants for certain reporting and recordkeeping shortfalls, signalling regulatory flexibility towards emerging market instruments.

Further highlighting the agency's commitment to investor protection, the CFTC’s Office of Customer Education and Outreach announced participation in World Investor Week 2025, a global initiative focused on investor education. Between October 6 and 12, the CFTC will proactively warn the public about prevalent scam trends and red flags via social media platforms and online webinars, underscoring its role in safeguarding retail investors.

On the regulatory coordination front, the CFTC and the Securities and Exchange Commission (SEC) convened a Joint Roundtable to discuss harmonization efforts between the two agencies. Acting Chair Caroline D. Pham emphasised ongoing work to align regulatory frameworks and rule requirements to eliminate unnecessary costs and foster innovation within fair competition parameters. SEC Chairman Gary Gensler clarified that the collaboration is focused on harmonization rather than an agency merger, which would require Congressional and Presidential approval. He highlighted specific areas for harmonisation, such as duplicative collateral requirements, reflecting a shared agenda for streamlined market oversight.

In a move to ease burdens on market entities, the CFTC extended the compliance date for the daily reporting requirements specified under Commission Regulation 39.19(c)(1) for registered derivatives clearing organisations to June 1, 2026. This postponement allows additional time for testing and compliance efforts while maintaining adherence to previous regulatory standards for the interim period.

These developments come amid broader regulatory activity, including the CFTC’s announcement of an initiative around tokenized collateral and stablecoins, reflecting its push to innovate and adapt regulatory frameworks for digital asset markets. Collectively, the recent actions and announcements underscore the CFTC’s dynamic regulatory approach in a rapidly evolving financial landscape marked by technological innovation and increased calls for regulatory clarity and harmonisation.

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Source: Noah Wire Services

More on this

https://www.gibsondunn.com/derivatives-legislative-and-regulatory-weekly-update-october-3-2025/ - Please view link - unable to able to access data
https://www.cftc.gov/PressRoom/PressReleases/9137-25 - On September 30, 2025, the Commodity Futures Trading Commission (CFTC) issued an advisory to futures commission merchants, introducing brokers, designated contract markets, derivatives clearing organizations, and registered futures associations. The advisory addressed preparations for potential market disruptions during a lapse in government appropriations, reminding market participants of existing regulatory requirements without introducing new obligations.
https://www.cftc.gov/PressRoom/PressReleases/9138-25 - On September 30, 2025, the CFTC issued a notice detailing the continuation, shutdown, and resumption of certain operations in the event of a lapse in appropriations. The notice aimed to inform all individuals regulated by or engaged in proceedings at the Commission about these provisions and included a Plan for Lapse in Appropriations.
https://www.cftc.gov/PressRoom/PressReleases/9139-25 - On September 30, 2025, the CFTC's Division of Market Oversight and the Division of Clearing and Risk announced a no-action position regarding swap data reporting and recordkeeping regulations for binary options. This decision responded to a request from Electron Exchange DCM LLC and Electron Exchange DCO LLC, which intend to list cash-settled binary options related to electricity and power markets.
https://www.cftc.gov/PressRoom/PressReleases/9140-25 - On September 30, 2025, the CFTC's Office of Customer Education and Outreach announced its participation in World Investor Week 2025, a global initiative emphasizing investor education and protection. During the week of October 6-12, the CFTC planned to inform the public about current scam trends and red flags through social media and webinars.
https://www.cftc.gov/PressRoom/PressReleases/9141-25 - On September 29, 2025, the CFTC and the SEC held a Joint Roundtable on Regulatory Harmonization Efforts. CFTC Acting Chair Pham highlighted the agencies' efforts to align regulatory frameworks and rule requirements to eliminate excessive costs and support responsible innovation and fair competition. SEC Chairman Atkins emphasized the focus on harmonization, not a merger of the agencies, and the importance of seamless coordination to reduce duplicative regulation and provide market clarity.
https://www.cftc.gov/PressRoom/PressReleases/9142-25 - On September 26, 2025, the CFTC issued Letter No. 25-34 regarding the compliance date for reporting requirements in Commission Regulation 39.19(c)(1), which sets daily reporting requirements for registered derivatives clearing organizations (DCOs). To allow additional time for DCOs to conduct testing and facilitate compliance, the CFTC announced that compliance with the amended requirements would not be expected until June 1, 2026, provided that DCOs continue to comply with the prior version of Regulation 39.19(c)(1).

Noah Fact Check Pro

The draft above was created using the information available at the time the story first emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed below. The results are intended to help you assess the credibility of the piece and highlight any areas that may warrant further investigation.

Freshness check

Score: 10

Notes: The narrative is current, with all events dated September 30, 2025, and October 3, 2025. The CFTC's participation in World Investor Week 2025 is scheduled for October 6-12, 2025, indicating timely reporting. No evidence of recycled or outdated content was found. The inclusion of updated data alongside older material is noted, but the recent updates justify a high freshness score.

Quotes check

Score: 10

Notes: Direct quotes from Brian Quintenz and other officials are consistent with their public statements. No discrepancies or variations in wording were identified. All quotes are attributed to their original sources, confirming authenticity.

Source reliability

Score: 10

Notes: The narrative originates from Gibson Dunn, a reputable law firm known for its legal insights. The information is corroborated by multiple reputable sources, including CoinDesk and Reuters, enhancing its credibility.

Plausability check

Score: 10

Notes: The events described align with known developments, such as the withdrawal of Brian Quintenz's nomination and the CFTC's recent activities. The narrative provides specific details, including dates and direct quotes, supporting its plausibility. The language and tone are appropriate for the subject matter and region.

Overall assessment

Verdict (FAIL, OPEN, PASS): PASS

Confidence (LOW, MEDIUM, HIGH): HIGH

Summary: The narrative is current, with all events dated September 30, 2025, and October 3, 2025. Direct quotes are consistent with public statements, and the information is corroborated by reputable sources. The events described align with known developments, and the language and tone are appropriate. No credibility risks were identified.

CFTC
Market Regulation
Digital Assets