Difference between revisions of "Mark P. Wetjen"

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{{Infobox Person
 
{{Infobox Person
|employer =  Commodity Futures Trading Commission (CFTC)
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|employer =  DTCC
|job      =  Commissioner
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|job      =  Managing Director and Head of Global Public Policy
 
|loc      =  Washington, DC
 
|loc      =  Washington, DC
 
|name    =  Mark P. Wetjen
 
|name    =  Mark P. Wetjen
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Mark P. Wetjen is executive vice president, Futures and Innovative Products at [[Miami International Holdings, Inc.]] He joined the company in that role in January 2020. He is also executive regulatory liaison officer at MIH and will also serve as the CEO of Miami International Futures Exchange, LLC, a wholly owned subsidiary of MIH.<ref>{{cite web|url=https://finance.yahoo.com/news/miax-welcomes-industry-veteran-mark-143000914.html|name=MIAX Welcomes Industry Veteran Mark Wetjen to Lead Expansion of Futures and Digital Securities Products|org=Yahoo Finance|date=January 27, 2020}}</ref>
  
Mark P. Wetjen is a commissioner with the [[Commodity Futures Trading Commission]] (CFTC). He became acting chairman upon the end of Chairman [[Gary Gensler]]’s service in January 2014. <ref>{{cite web|url=http://www.cftc.gov/PressRoom/PressReleases/pr6795-13|name=CFTC Names Mark P. Wetjen Acting Chairman of the Commission|org=CFTC|date=December 16, 2013}}</ref> He will remain acting chairman until the Senate confirmation of [[Timothy Massad]], who was nominated as chairman in November 2013.
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Wetjen previously served as managing director and head of global public policy at the [[DTCC]] from 2011 – 2015.<ref>{{cite web|url=http://www.cnbc.com/2015/09/22/reuters-america-moves-dtcc-names-ex-cftc-official-wetjen-as-managing-director.html|name=MOVES-DTCC names ex-CFTC official Wetjen as managing director|org=CNBC|date=September 23, 2015}}</ref>
  
He was nominated as a commissioner in July 2011, and approved in October 2011, for a term ending on June 19, 2016.<ref>{{cite web|url=http://www.futuresmag.com/News/2011/10/Pages/Senate-confirms-Mark-Wetjen-as-new-CFTC-commissioner.aspx|name=Senate confirms Mark Wetjen as new CFTC commissioner|org=Futures Magazine|date=October 21, 2011}}</ref>  He was sworn in as a commissioner on October 26, 2011, replacing the retiring [[Mike Dunn]].<ref>{{cite web|url=http://www.bloomberg.com/news/2011-10-25/wetjen-formally-joins-cftc-to-complete-dodd-frank-swaps-rules.html|name=Wetjen Formally Joins CFTC to Complete Dodd-Frank Swaps Rules|org=Bloomberg|date=October 26, 2011}}</ref>
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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.<ref>{{cite web|url=http://www.financemagnates.com/executives/move/dtcc-lands-former-cftc-commissioner-mark-wetjen/|name=DTCC Lands Former CFTC Commissioner Mark Wetjen, Expands London Operations|org=Finance magnates|date=September 23, 2015}}</ref>  
  
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."<ref>{{cite web|url=http://www.futuresindustry.org/default.asp?v=p&|name=Senate Confirms Mark Wetjen as CFTC Commissioner (Oct. 21, 2011)|org=FIA|date=October 21, 2011}}</ref>
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In February of 2019 Wetjen was appointed chairman of the [[DTCC Deriv/SERV]] board of directors, replacing [[Larry Thompson]], who retired in December 2018. Wetjen was appointed to the Deriv/SERV board in September 2018.
  
 
== Background ==
 
== 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.<ref>{{cite web|url=http://www.whitehouse.gov/the-press-office/2011/05/12/presidential-nominations-sent-senate-5122011|name=Presidential Nominations Sent to the Senate, 5/12/2011|org=White House|date=May 12, 2011}}</ref><ref>{{cite web|url=http://www.americanbanker.com/syndication/wetjen-cftc-1037383-1.html|name=President Obama Nominates Mark P. Wetjen to CFTC|org=American Banker|date=October 21, 2011}}</ref>
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In May 2011, President [[Barack Obama]] nominated Wetjen to replace CFTC Commissioner [[Michael Dunn]], who had served in the position since December of 2004.<ref>{{cite web|url=http://www.whitehouse.gov/the-press-office/2011/05/12/presidential-nominations-sent-senate-5122011|name=Presidential Nominations Sent to the Senate, 5/12/2011|org=White House|date=May 12, 2011}}</ref><ref>{{cite web|url=http://www.americanbanker.com/syndication/wetjen-cftc-1037383-1.html|name=President Obama Nominates Mark P. Wetjen to CFTC|org=American Banker|date=October 21, 2011}}</ref> He was sworn in as a commissioner on October 26, 2011.<ref>{{cite web|url=http://www.bloomberg.com/news/2011-10-25/wetjen-formally-joins-cftc-to-complete-dodd-frank-swaps-rules.html|name=Wetjen Formally Joins CFTC to Complete Dodd-Frank Swaps Rules|org=Bloomberg|date=October 26, 2011}}</ref>
  
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]].
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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."<ref>{{cite web|url=http://www.futuresindustry.org/default.asp?v=p&|name=Senate Confirms Mark Wetjen as CFTC Commissioner (Oct. 21, 2011)|org=FIA|date=October 21, 2011}}</ref>
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He became acting chairman upon the end of Chairman [[Gary Gensler]]’s service in January 2014 <ref>{{cite web|url=http://www.cftc.gov/PressRoom/PressReleases/pr6795-13|name=CFTC Names Mark P. Wetjen Acting Chairman of the Commission|org=CFTC|date=December 16, 2013}}</ref> 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.<ref>{{cite web|url=http://www.cftc.gov/PressRoom/PressReleases/pr7212-15|name=CFTC Commissioner Mark P. Wetjen Announces his Resignation|org=CFTC|date=August 14, 2015}}</ref>
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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]].
 
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]].
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Latest revision as of 14:31, 27 January 2020

ICE wiki logo.jpg


Mark P. Wetjen
MarkWetjen.jpg
Occupation Managing Director and Head of Global Public Policy
Employer DTCC
Location Washington, DC
LinkedIn Profile
Website www.cftc.gov

Mark P. Wetjen is executive vice president, Futures and Innovative Products at Miami International Holdings, Inc. He joined the company in that role in January 2020. He is also executive regulatory liaison officer at MIH and will also serve as the CEO of Miami International Futures Exchange, LLC, a wholly owned subsidiary of MIH.[1]

Wetjen previously served as managing director and head of global public policy at the DTCC from 2011 – 2015.[2]

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.[3]

In February of 2019 Wetjen was appointed chairman of the DTCC Deriv/SERV board of directors, replacing Larry Thompson, who retired in December 2018. Wetjen was appointed to the Deriv/SERV board in September 2018.

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.[4][5] He was sworn in as a commissioner on October 26, 2011.[6]

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."[7]

He became acting chairman upon the end of Chairman Gary Gensler’s service in January 2014 [8] 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.[9]

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