Trump Names Four Nominees to Fill SEC, CFTC Seats
Securities and derivatives firms should track Senate committee votes, since confirmation will set the commissions' direction on rules and enforcement.
Updated on Nov. 13, 2026 in People
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President Donald Trump has named four individuals to potential commissioner posts at the Securities and Exchange Commission and the Commodity Futures Trading Commission, including two SEC nominees and two CFTC nominees. The nominations must clear Senate committee approval and a full Senate vote before any appointee takes a seat on either agency.
Why it matters
Both agencies currently operate with vacant commission seats, and each can seat up to five commissioners. For businesses regulated by these bodies, the composition of the commissions shapes enforcement priorities, rulemaking, and the regulatory climate for securities issuers, brokers, and derivatives traders.
The four nominees fill seats at agencies that can each seat up to five commissioners. The CFTC currently has one commissioner, while the SEC is led by Chairman Paul Atkins and Commissioner Mark Uyeda, with former Commissioner Hester Peirce having recently departed.
The players
Securities and Exchange Commission (SEC)
The federal agency that oversees securities markets, enforces disclosure and trading rules, and regulates public companies, brokers, and investment advisers.
Commodity Futures Trading Commission (CFTC)
The federal agency that regulates U.S. derivatives and futures markets, overseeing exchanges, clearinghouses, and swap dealers.
Paul Atkins
Chairman of the SEC, a former securities lawyer and SEC official who leads the agency's rulemaking and enforcement direction.
Mike Selig
Chairman of the CFTC and the agency's sole sitting commissioner, overseeing derivatives market regulation.
The details
Nominees to independent federal commissions must be confirmed by the Senate, which means committee hearings and votes precede any floor action. The SEC nominees, Kristin Johnson and Steven Levine, would go through the Senate Banking Committee, while the CFTC nominees, Nathan Anonick and Matthew Rowland, require approval from the Senate Agriculture Committee. Until confirmed, the agencies continue operating with their current, reduced commission membership.
Timeline
January 2025: Trump retook the White House, limiting the commissioner slates he could fill.
2025: Trump last named SEC or CFTC nominees before this announcement.
Last year: Kristin Johnson last served as a CFTC commissioner.
A few weeks ago: Hester Peirce left the SEC after her term expired.
November 12, 2026: Trump announced the four SEC and CFTC nominees.
Market Landscape
Both agencies can seat up to five commissioners, yet the CFTC is currently run by a single commissioner and the SEC has seen recent departures. Filling these seats determines how many votes a commission majority requires for major rulemakings affecting securities and derivatives markets.
Firms regulated by the SEC and CFTC should monitor which nominees advance, since commission composition affects the pace and direction of rulemaking on disclosure, trading, and derivatives compliance. Compliance teams should track committee calendars for these nominations, as confirmation timelines will shape near-term regulatory expectations.
The takeaway
Operators in securities and derivatives markets should treat these nominations as a leading indicator of the regulatory direction at both agencies. Track Senate committee calendars for the Banking and Agriculture committees, since confirmation votes will determine when the commissions regain their full capacity.
What happens next
The Senate Banking Committee and Senate Agriculture Committee must each hold votes on their respective nominees before any full Senate floor vote.
Further reading
Explore more profiles of the leaders shaping the People behind U.S. financial regulation and market oversight.
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