Dan M. Berkovitz, commissioner of the Commodity Futures Trading Comission, will depart the agency Oct. 15.
Mr. Berkovitz, a Democrat who has been a part of the CFTC since September 2018, made the announcement Thursday.He was nominated by former President Donald Trump to a five-year term expiring in April 2023.
"To everything there is a season, and now is a time for me to turn to other challenges," Mr. Berkovitz said in statement. He did not specify his future plans.
Previously, Mr. Berkovitz was a partner and co-chair of the futures and derivatives practice at the law firm of WilmerHale. From 2009-2013, he served as the CFTC's general counsel.
Mr. Berkovitz's departure will leave the five-member CFTC with two members: Acting Chairman Rostin Behnam, a Democrat, and Dawn DeBerry Stump, a Republican.
Most recently, Commissioner Brian D. Quintenz, a Republican, stepped down Aug. 31. The former chairman, Heath P. Tarbert, stepped down in January.
Mr. Berkovitz thanked his CFTC colleagues and said the swaps market today — with "mandatory clearing and transparent trading of standardized swaps, registered and regulated swap dealing, margin requirements for uncleared swaps, and comprehensive swap data reporting — is more resilient, more transparent, more liquid, less susceptible to manipulation, and more cost-effective for end users."
