The Senate Agriculture Committee on Thursday advanced, along party lines, the nomination of Michael Selig to be chairman of the Commodity Futures Trading Commission.

The panel approved Selig’s confirmation to replace CFTC acting Chairman Caroline Pham, 12-11. Thursday’s vote comes on the heels of his Wednesday nomination hearing.

Pham is currently the only member of the CFTC, a five-person body. Democrats say that is hampering its effectiveness.

“This uncertainty surrounding the leadership at the CFTC has only created more chaos for people who rely on the CFTC,” Senate Agriculture ranking member Amy Klobuchar, D-Minn., said at the Wednesday hearing.

Senate Agriculture Republicans emphasized that the CFTC is about to expand its jurisdiction as lawmakers work on legislation that would gi

See Full Page