Oil and Gas

Trump to nominate Senate Democratic aide for CFTC

WASHINGTON, July 17 (Reuters) - U.S. President Donald Trump intends to nominate Senate Democratic aide Rostin Behnam to become a member of the Commodity Futures Trading Commission, the White House said on Monday.

Behnam is senior counsel to Senator Debbie Stabenow, the top Democrat on the Senate Agriculture Committee. His nomination must be confirmed by the Senate.

Behnam would fill one of two spots reserved for Democrats on the five-member commission, which is tasked with policing the massive over-the-counter derivatives market.

The CFTC currently has only two commissioners, Republican Christopher Giancarlo and Democrat Sharon Bowen, who last month announced plans to depart in the near future.

Trump has nominated Giancarlo, who has served as acting chairman since January and has been a member of the commission since 2014, to become the permanent head of the CFTC.

Trump also has nominated Brian Quintenz, a former fund manager and congressional policy adviser, and Dawn Stump, a former vice president of NYSE Euronext, now part of Intercontinental Exchange Inc, to fill the two other Republican vacancies. (Reporting by Eric Beech; Editing by Sandra Maler)