Obama Selects Englewood Native for Powerful Finance Commission

A native of Englewood has been selected by President Obama to claim a seat on the five-member Commodity Futures Trading Commission, which largely writes rules regulating credit swaps.

If his appointment makes it through the senate, J. Christopher Giancarlo will become the Republican choice to take over for departing Jill Sommers, according to published reports.

Giancarlo, who lives in Haworth and attended Dwight Englewood High School, is an executive vice president at Wall Street firm GFI Group Inc. Giancarlo has publicly come out against some of the regulatory rules on credit swaps markets from the 2010 Dodd-Frank Act. He believes further regulation would put the U.S. at a disadvantage internationally.