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Regulation

White House to nominate Treasury assistant secretary to lead CFTC

Heath P. Tarbert

Heath P. Tarbert will be nominated to serve as commissioner and chairman of the Commodity Futures Trading Commission, the White House said.

Mr. Tarbert, who currently serves as assistant secretary for international markets at the Treasury Department, would take over the post from J. Christopher Giancarlo, whose term expires in April 2019. Mr. Tarbert's five-year term would start on April 14, 2019.

At Treasury, Mr. Tarbert is a member of the Financial Stability Board and is co-chairman of the U.S.-EU Joint Financial Regulatory Forum and U.S.-U.K. Financial Regulatory Working Group, according to his Treasury biography. He also serves as policy chairman of the Committee on Foreign Investment in the United States, which seeks to promote U.S. investments while protecting national security.

Before joining the government, Mr. Tarbert was a partner at Allen & Overy, according to a White House announcement on Tuesday. Previously, he served as senior fellow at the Harvard Law School Program on International Financial Systems, legal adviser to the Systemic Risk Council, vice president of the Committee on Capital Markets Regulation, and was a member of the board of advisors for the Review of Securities & Commodities Regulation.

Once officially nominated, Mr. Tarbert, a Maryland resident, will need Senate confirmation to lead the CFTC. In September 2017, the Senate confirmed him by an 87-8 vote to his current Treasury post.