CFTC Commissioner Brian D. Quintenz will not seek renomination when his term expires next month, but plans to stay on the job until Oct. 31 or until a successor is confirmed, he said Tuesday.
Mr. Quintenz has been a part of the Commodity Futures Trading Commission since August 2017. He was originally nominated to the post in 2016 by President Barack Obama and approved by the Senate Agriculture Committee, but that nomination was never voted on by the 114th Congress. President Donald Trump nominated him again in May 2017 and he received Senate confirmation that summer.
With his five-year term expiring next month, he said in a statement that he's had an opportunity to reflect on his journey. "It has been a privilege to serve my country in this role, easily the most rewarding experience of my professional career. However, after thoughtful consideration and much discussion with my family, I have decided not to seek renomination to another five-year term as a commissioner."
He added that it's time for him to pursue new challenges and opportunities, though did not specify what those were.
During his time at the agency, Mr. Quintenz said he's strived to build his commissionership on three broad themes: "Ensuring the commission is focused on risks, with rules appropriately tailored to those risks; embracing the rapid advancement of technology and innovation in finance; and working for enhanced coordination and deference among domestic and international regulators."
Securities and Exchange Commission chairman Jay Clayton said in a statement that he and Mr. Quintenz have worked "closely and productively" over the past three years. "I look forward to continuing to work closely and productively with Brian and his fellow commissioners through the end of his tenure," Mr. Clayton added.
On twitter, CTFC Chairman Heath P. Tarbert called Mr. Quintenz a tremendous colleague and "a steadfast advocate for sound derivatives regulation during his tenure. I will miss having him at the CFTC. I look forward to working with him over his last months in office to finalize key elements of our shared agenda."