A well-known Senate aide could be the next commissioner of the Commodity Futures Trading Commission (CFTC), according to a report in the Financial Times.
Mark Wetjen, an aide to Senate Majority Leader Harry Reid, is reportedly the White House's top choice to replace Democrat Michael Dunn, whose term as a CFTC commissioner expires in June. If the White House does indeed nominate Wetjen, the Senate would need to confirm him for the post.
And that confirmation may not be easy. This is a critical period for the regulator as it continues to finalize rules that will implement the 2010 Dodd-Frank financial reform, and Republicans may strongly question a Democratic appointee.