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CFTC Commissioner Jill Sommers to leave agency

Jill Sommers

Jill Sommers

CFTC Commissioner Jill Sommers announced last week that she would leave the regulatory agency on Monday after the conclusion of an investigation into MF Global Holdings.

“I cared deeply about seeing this investigation brought to the point of us filing a complaint,” Sommers said, according to The Wall Street Journal.

Sommers took over the MF Global investigation after CFTC Chairman Gary Gensler recused himself due to his ties to MF Global CEO Jon Corzine at Goldman Sachs, where the two worked in the 1990s.

The CFTC filed civil charges against Corzine and another top executive in June for their oversight in the misuse of nearly $1 billion in customer funds during the firm’s collapse in 2011.

Sommers is one of two Republicans on the five-member commission, and she has served since 2007.

“It’s been a unique time at the commission, and I feel it’s been a great opportunity for me to be here,” Sommers said, Bloomberg reports. “I’m proud of what the agency has accomplished and hope to stay active in the industry.”

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