The Senate Agriculture Committee has approved President Obama's nomination of Mark Wetjen as a CFTC commissioner. Wetjen's appointment must still be confirmed by the full Senate.
Wetjen would replace outgoing Commissioner Michael Dunn, a Democrat. The 37-year-old Wetjen would join two other Democrats and two Republicans as CFTC commissioners.
The appointment comes amid the CFTC's consideration of rules to implement the sweeping Dodd-Frank financial reform law that was passed last year. Among other requirements, the law gives the CFTC authority in the United States over the $600 trillion international swaps market.