Democratic presidential candidate Joe Biden, who appeared to be closing in on an election victory, has tapped former derivatives market regulator Gary Gensler to work on a transition plan for financial industry oversight, according to a person with direct knowledge of the matter. Gensler, who served as chair of the Commodity Futures Trading Commission (CFTC) from 2009 to 2014, will work with a team of policy experts focused on banking and markets regulators, such as the CFTC, Federal Reserve and the Securities and Exchange Commission, as part of the usual agency review process undertaken by an incoming administrations, the Wall Street Journal reported. Gensler did not immediately respond to a request for comment on Friday evening.
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