Trump Names Four Bipartisan SEC and CFTC Nominees: What It Means
Donald Trump sent four bipartisan SEC and CFTC nominations to the Senate, filling long-vacant regulator seats before Republicans lose the chamber in January.
Image: Wikimedia Commons / Ken Lund
WASHINGTON, Nov. 12 — President Donald Trump on Thursday sent four bipartisan nominations for the Securities and Exchange Commission and the Commodity Futures Trading Commission to the Senate, his first nominations to the two market regulators since January 2025, according to the White House.
The slate pairs one Republican and one Democrat at each agency. Former Commodity Futures Trading Commission member Kristin Johnson, a Democrat, and attorney Steven Levine, a Republican, were nominated to the securities regulator. Senate Agriculture Committee counsel Nathan Anonick, a Republican, and commission attorney Matthew Rowland, a Democrat, were nominated to the derivatives regulator.
- Four nominations went to the Senate on Thursday, one Republican and one Democrat at each regulator.
- The derivatives regulator has run with a single commissioner, Chairman Mike Selig, for more than a year; even if both nominees are confirmed, two of its five seats will stay empty.
- Both agencies oversee large parts of American financial markets, including securities, derivatives and crypto, and have run short-staffed since early 2025.
Who Are the Four SEC and CFTC Nominees?
Johnson, a Democrat, served as a Commodity Futures Trading Commission member after being appointed by former President Joe Biden and is a law professor. She was nominated for a term expiring on June 5, 2029. Levine, a Republican, served on the White House Council of Economic Advisers. He was nominated for a term expiring on June 5, 2030, in the seat previously held by Hester Maria Peirce. The two would join a body now led by Chairman Paul Atkins and Commissioner Mark Uyeda.
Anonick, a Republican, is a senior counsel on the majority staff of the Senate Agriculture Committee. He was nominated for a term expiring on June 19, 2031, succeeding former Chairman Rostin Behnam. Rowland, a Democrat, is a commission attorney detailed to the Agriculture Committee who previously worked on Johnson's staff. He was nominated to complete a term expiring on April 13, 2028, succeeding Summer Mersinger.
| Nominee | Agency | Party | Term expires |
|---|---|---|---|
| Kristin Johnson | Securities and Exchange Commission | Democrat | June 5, 2029 |
| Steven Levine | Securities and Exchange Commission | Republican | June 5, 2030 |
| Matthew Rowland | Commodity Futures Trading Commission | Democrat | April 13, 2028 |
| Nathan Anonick | Commodity Futures Trading Commission | Republican | June 19, 2031 |
Why the SEC and CFTC Nominations Matter for Crypto and Markets
The two agencies sit at the centre of American market regulation: the securities regulator oversees securities markets and companies, while the derivatives regulator covers derivatives and parts of crypto. Both have run with depleted leadership since early 2025, leaving decisions to smaller groups of commissioners.
The derivatives regulator has felt the shortage most sharply. It last had all five commissioners on February 7, 2025, when Behnam departed, and Selig has served as its only commissioner since 2025. Selig welcomed the two nominees on Thursday, calling them "two strong bipartisan picks". The timing also matters for prediction markets, where the commission has taken enforcement action this year, including against the platform Kalshi, which the commission warned and charged. The New York Stock Exchange chose Avalanche for tokenised-stock settlement as exchanges test blockchain trading.
What Happens Next for the SEC and CFTC Nominees in the Senate
The nominations now move to two Senate committees: Agriculture must approve the derivatives nominees, and Banking must approve the securities nominees, before the Senate can vote. The Senate is in its lame-duck session, and the calendar is tight: Republicans lose control of the chamber in January, after last week's midterm elections.
If the committees and the full Senate do not act before the new Congress is seated, the nominations would lapse and the White House would have to send them again to a Senate controlled by the other party. No confirmation hearings have been scheduled yet.
Frequently Asked Questions
Who did Trump nominate to the SEC and CFTC?
Trump nominated Kristin Johnson and Steven Levine to the securities regulator, and Nathan Anonick and Matthew Rowland to the derivatives regulator. Each agency would receive one Republican and one Democrat if the nominees are confirmed.
Why are the SEC and CFTC short of commissioners?
Neither agency has had a full five-member commission since early 2025. The derivatives regulator has operated with only its chairman, Mike Selig, since February 2025, and the securities regulator has run with a chairman and a single commissioner.
How do SEC and CFTC nominations affect crypto regulation?
The securities regulator oversees securities and tokenised stocks, while the derivatives regulator oversees derivatives and parts of crypto trading. Full commissions would speed up crypto rules and enforcement.
