CFTC enforcement chief expected to resign on Tuesday - NYT

Tue Oct 1, 2013 3:14am EDT

Oct 1 (Reuters) - The head of enforcement at the Commodity Futures Trading Commission, David Meister, is expected to step down as early as Tuesday, the New York Times reported, possibly leaving a leadership vacuum at the agency that regulates the derivatives market.

Meister's departure after nearly three years on the job comes as CFTC Chairman Gary Gensler's five-year term draws to a close at the end of this year. The White House has yet to nominate a candidate to replace Gensler.

Meister, a former federal criminal prosecutor, told the Times he has not started to look for another job.

He told the newspaper he was leaving an invigorated enforcement unit. "We're really in an upward trajectory," he said. ()

The CFTC, once a sleepy agency overseeing agriculture futures, took on a vastly increased role after the financial crisis. Under Meister, the CFTC filed a record number of actions against the financial industry.

CFTC could not immediately be reached for comment by Reuters outside of regular U.S. business hours.