The Commodity Futures Trading Commission (CFTC) on Monday got one step closer to shoring up its depleted ranks.
Sharon Bowen, a securities lawyer in New York, was sworn in to fill a vacant Democratic slot at the agency, which oversees the multi-trillion derivatives market.
{mosads}She was confirmed June 3, along with two others, to join the agency that had only two commissioners until all three nominees were confirmed by the Senate last week.
Timothy Massad, who formerly headed up Treasury Department’s Troubled Asset Relief Program, was sworn in last week to head up the five-member regulator.
Massad succeeds Gary Gensler, who left the agency in January after guiding it through the bulk of rule-crafting process mandated by the Dodd-Frank financial law for the swaps market.
The next step is to implement and enforce the rules.
The last remaining seat, a Republican slot, will be filled by Christopher Giancarlo.
Bowen joins the CFTC from the New York office of Latham & Watkins where she was a partner since 1991. Bowen also served as vice chairman of the Securities Investor Protection Corporation (SIPC) and became its acting chairman in 2012.
She received her B.A. from the University of Virginia, MBA from the Kellogg School of Management and J.D. from Northwestern University School of Law.