CFTC Chairman Rostin Benham to resign on Trump inauguration day

The chairman of the Commodity Futures Trading Commission (CFTC) on Tuesday announced that he will resign his post on January 20, the same day that President-elect Donald Trump is scheduled to take office.

Chairman Rostin Behnam, a Democrat, said his final day at the Commission will be Feb. 7, which ends his seven-year career at the federal regulatory agency. Benham has served on the commission since 2017. 

"Over the past several years, a multitude of domestic and global events tested the resilience of all financial markets," Benham said in a statement. "I am proud that the Commission consistently made deliberate and intentional decisions to ensure continued strength. We worked to address regulatory gaps and uncertainty. We also responsibly engaged new entrants to support innovation."

Benham's departure marks the latest exit announcement from a top Biden administration official. Securities and Exchange Commission (SEC) Chair Gary Gensler will resign his post on Inauguration Day, along with FBI Director Christopher Wray.

Federal Aviation Administration (FAA) chief Michael Whitaker will also resign in January.

"I am pleased to leave the CFTC and the derivatives markets stronger than ever. Our staff has demonstrated organizational drive and operational effectiveness," Benham said. "We have welcomed new opportunities to modernize, build capabilities, and, with the support of the Congress, incorporate the innovations shaping our markets."

"I want to thank my fellow Commissioners, past and present, my leadership team, and the extraordinary CFTC staff for the privilege of serving with them," he added.

Benham said that he would work with the incoming Trump administration to ensure a smooth transition to the next chairman.

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.