11.04.21 |Press Releases
NGFA supports Behnam’s nomination to chair the CFTC
ARLINGTON, Va., Nov. 4, 2021 -- The National Grain and Feed Association (NGFA) commended the Senate Agriculture Committee today for advancing the nomination of Rostin Behnam to serve as chairman of the Commodity Futures Trading Commission (CFTC).
The committee voted to advance Behnam on Nov. 4 after holding a hearing to consider his nomination on Oct. 27. His nomination now goes to the full Senate.
“Acting Chairman Behnam has the experience and background that make him exceptionally qualified to serve as CFTC chairman,” noted NGFA President and CEO Mike Seyfert. “We deeply appreciate the willingness of Mr.
Behnam to be open to NGFA-member companies’ input on rulemakings during his time as CFTC commissioner and look forward to working with him as chairman. NGFA urges the full Senate to approve his nomination.”
Behnam joined the CFTC in 2017 and since January 2021 has served as the acting chairman. In 2019, Behnam spearheaded the establishment of the CFTC’s Market Risk Advisory Committee’s Climate Related Market Risk Subcommittee. Behnam previously served as senior counsel to Sen. Debbie Stabenow, D-Mich., chairwoman of the Senate Agriculture Committee.
The NGFA, established in 1896, consists of grain, feed, processing, exporting and other grain-related companies that operate more than 8,000 facilities handling U.S. grains and oilseeds. Its membership includes grain elevators; feed and feed ingredient manufacturers; biofuels companies; grain and oilseed processors and millers; exporters; livestock and poultry integrators; and associated firms that provide goods and services to the nation’s grain, feed and processing industry. The NGFA also consists of 27 affiliated State and Regional Grain and Feed Associations, and is co-located and has a strategic alliance with North American Export Grain Association, and a strategic alliance with Pet Food Institute.