Mark P. Wetjen

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Mark P. Wetjen
MarkWetjen.jpg
Occupation Managing Director
Employer DTCC
Location Washington, DC
LinkedIn Profile
Website www.cftc.gov

Mark P. Wetjen is a managing director at DTCC, where he leads the firm's global public policy function and related business and legal activities.[1]

He joined the post-trade services utility in September 2015 after serving for four years as a commissioner at the Commodity Futures Trading Commission (CFTC). He stepped down from his role as commissioner in August 2015[2]

Background

In May 2011, President Barack Obama nominated Wetjen to replace CFTC Commissioner Michael Dunn, who had served in the position since December of 2004.[3][4] He was sworn in as a commissioner on October 26, 2011.[5]

Upon Wetjen's confirmation in 2011, the Futures Industry Association (FIA) released a statement, saying that Wetjen's "commitment to a careful, measured and thoughtful process for consideration of regulatory matters is one that we can all endorse."[6]

He became acting chairman upon the end of Chairman Gary Gensler’s service in January 2014 [7] and remained acting chairman until the Senate confirmed Timothy Massad as the new chairman in June 2014. On Aug. 14, 2015 he announced his resignation from the CFTC, effective August 28, 2015.[8]

Wetjen was formerly a top aide to Senate Majority Leader Harry Reid (D., Nev.), beginning in 2004. Before that, he worked for Lionel Sawyer & Collins and specialized in regulatory issues affecting financial institutions. Early in his career, Wetjen focused on municipal finance transactions for the law firm Sherman & Howard.

He is also known for his work on the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which gave the CFTC new authority to oversee the over-the-counter derivatives market.

Education

  • J.D. (with distinction), University of Iowa College of Law (1996 – 1999)
  • B.A. (summa cum laude), Liberal Arts, Creighton University (1992 – 1996)

References

  1. MOVES-DTCC names ex-CFTC official Wetjen as managing director. CNBC.
  2. DTCC Lands Former CFTC Commissioner Mark Wetjen, Expands London Operations. Finance magnates.
  3. Presidential Nominations Sent to the Senate, 5/12/2011. White House.
  4. President Obama Nominates Mark P. Wetjen to CFTC. American Banker.
  5. Wetjen Formally Joins CFTC to Complete Dodd-Frank Swaps Rules. Bloomberg.
  6. Senate Confirms Mark Wetjen as CFTC Commissioner (Oct. 21, 2011). FIA.
  7. CFTC Names Mark P. Wetjen Acting Chairman of the Commission. CFTC.
  8. CFTC Commissioner Mark P. Wetjen Announces his Resignation. CFTC.