Jill Sommers announced on January 24 her resignation from the five-member Commodity Futures Trading Commission, the top U.S. derivatives regulator.
Sommers did not give a reason for leaving. She said in a letter that she intended to depart after the first quarter of 2013.
Sommers was sworn in on August 8, 2007, to a term that expired April 13, 2009. On July 20, 2009, she was nominated to serve a five-year second term, which was confirmed by the U.S. Senate.
“Jill Sommers has been a voice of reason during a pivotal time in CFTC’s history and I am grateful for her service,” said Rep. Frank Lucas, chairman of the House Agriculture Committee. “She has advocated for a balanced approach to regulatory reform in the U.S. that is reasonable, thoughtful and not disruptive to global markets. I appreciate her leadership in investigating the failure of MF Global and hope the Commission will continue her efforts when she leaves. And, her work as chairman of the agency’s Global Markets Advisory Committee has highlighted the importance of the U.S. coordinating its reforms with the global community. In short, Jill is a friend of agriculture. Although I wish her well in all of her future endeavors, I can say with certainty she will be missed."