NEWS
Wed Nov 13, 2013 07:39 AM CST

WASHINGTON (Dow Jones) -- President Barack Obama tapped senior Treasury Department official Timothy Massad to head the Commodity Futures Trading Commission, setting up a tight deadline to avoid a commission hobbled by vacancies.

If confirmed by the Senate, Mr. Massad would replace Gary Gensler, who sought to turn the CFTC into a regulatory powerhouse after the agency's mandate expanded with the 2010 Dodd-Frank financial law. The agency is charged with oversight of derivatives -- financial instruments that allow investors, companies and others to hedge against risk.

Mr. Gensler plans to step down as CFTC chairman when Mr. Massad is confirmed ...

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