The swaps cops are back on the beat in full force.
After a six-month wait, the U.S. Senate yesterday confirmed Timothy Massad to serve as chairman of the Commodity Futures Trading Commission (CFTC) as lawmakers moved to bring the derivatives regulator to a full roster by signing off on two additional nominees.
The Senate approved Massad and J. Christopher Giancarlo, an executive at inter-dealer broker GFI Group Inc., in a series of voice votes. Sharon Y. Bowen, a lawyer at Latham & Watkins LLP, was confirmed as a commissioner in a 48-46 vote amid opposition from Republicans and a handful of Democrats.
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