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Oil Report

US Senate panel plans Monday vote on CFTC chairman

WASHINGTON, March 13 (Reuters) - The Senate Agriculture Committee plans to vote on Monday on President Barack Obama’s nomination of Gary Gensler for chairman of the agency that oversees U.S. futures markets, said a spokesman on Friday.

The panel was expected to approve the nomination, which would allow a Senate vote on putting Gensler in charge of the Commodity Futures Trading Commission. Gensler, 51, is a former Goldman Sachs executive and was a high-ranking Treasury official during the Clinton era.

During a hearing on Feb. 25, Gensler said he supported position limits on physical commodities, that clearing should be mandatory for standardized over-the-counter derivatives and that he opposed a merger of the CFTC and the Securities and Exchange Commission, the regulator of equities markets. (Reporting by Charles Abbott; Editing by Christian Wiessner)

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