Mark P. Wetjen

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Mark P. Wetjen
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Occupation Partner
Employer Dentons
Location Washington, DC
LinkedIn Profile
Website www.dentons.com

Mark P. Wetjen is an American attorney and former regulator, currently serving as a partner at Dentons, a global law firm. Wetjen's career in financial services and regulation includes significant roles in both the public and private sectors. He was nominated by President Barack Obama and served as a Commissioner of the Commodity Futures Trading Commission (CFTC) from 2011 to 2015, including a period as Acting Chairman. During his tenure at the CFTC, Wetjen was involved in implementing key aspects of the Dodd-Frank Act and engaged in international regulatory dialogues.[1][2]

Prior to joining Dentons, Wetjen held various executive positions in the financial industry. He was the head of policy and regulatory strategy at FTX, a cryptocurrency exchange, and served as executive vice president of futures and innovative products at Miami International Holdings, Inc. (MIH). Additionally, he was the CEO of Miami International Futures Exchange, LLC, a subsidiary of MIH. Wetjen also worked as managing director and head of global public policy at the Depository Trust & Clearing Corporation (DTCC), where he was appointed Chairman of the DTCC Deriv/SERV board of directors in 2019.[3][4][5][6]

Background[edit]

In May 2011, President Barack Obama nominated Wetjen to replace CFTC Commissioner Michael Dunn, who had served in the position since December of 2004.[7][8] He was sworn in as a commissioner on October 26, 2011.[9]

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."[10]

He became acting chairman upon the end of Chairman Gary Gensler’s service in January 2014 [11] 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.[12]

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[edit]

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

References[edit]

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