Trump to nominate CFTC acting head Giancarlo as permanent chairmanWASHINGTON (Reuters) - President Donald Trump plans to nominate J. Christopher Giancarlo to lead the Commodity Futures Trading Commission, the regulator tasked with policing the massive over-the-counter derivatives market, the White House said on Tuesday. Giancarlo, a Republican, has been acting chairman of the CFTC since Jan. 20 and was widely expected to be tapped for the permanent position of chairman. He became a CFTC commissioner in 2014. The nomination comes just one day before Giancarlo is expected to give a major policy address at the annual Futures Industry Association conference in Boca Raton, Florida, where he plans to lay out his regulatory vision for the agency. The CFTC won broad new powers from the 2010 Dodd-Frank Wall Street reform law to regulate the swaps market, which until then had been largely unpoliced. Giancarlo previously served as executive vice president of financial services group GFI Group Inc. Throughout his tenure as a CFTC commissioner, Giancarlo has been critical of the way the agency has implemented many of the new rules required by Dodd-Frank. He issued a white paper in 2015, for instance, which accused the CFTC’s regulatory framework of driving global traders away from the United States, fragmenting the marketplace and increasing liquidity risk. He has dissented on a number of other major policy areas, including a proposal requiring automated traders to hand over sensitive code without a subpoena - something Giancarlo said “would strip owners of intellectual property of due process of law.” As chairman, Giancarlo is likely to focus his energy on scaling back rules that he believes are overly burdensome to help boost economic growth - a vision that is also shared by Jay Clayton, Trump’s pick to head the CFTC’s sister regulator, the Securities and Exchange Commission. In a speech Monday before the Institute of International Bankers, Giancarlo criticized those who have dwelled heavily on preventing a repeat of the financial crisis, saying the impact has been to “sideline capital from productive uses.” If confirmed as chairman, however, Giancarlo could face some initial challenges getting his agenda adopted. Currently, the five-member panel is down to two commissioners - Giancarlo and Sharon Bowen, a Democrat. If the two disagree on a decision, the measure cannot pass.  Giancarlo acknowledged this challenge in his speech Monday, saying the agency cannot proceed on a controversial position limits rule without a full commission.  Trump has not yet nominated anyone for the remaining three positions.  politicsNews
trump nominate cfc acting head giancarlo permanent chairmanwashington reuters president donald trump plans nominate christopher giancarlo lead commodity futures trading commission regulator tasked policing massive derivatives market white house said tuesday giancarlo republican acting chairman cfc since widely expected tapped permanent position chairman he became cfc commissioner the nomination comes one day giancarlo expected give major policy address annual futures industry association conference boca ration florida plans lay regulatory vision agency the cfc broad new powers wall street reform law regulate swaps market largely unnoticed giancarlo previously served executive vice president financial services group gf group inc throughout tenure cfc commissioner giancarlo critical way agency implemented many new rules required he issued white paper instance accused cfc regulatory framework driving global traders away united states fragmenting marketplace increasing liquidity risk he dissented number major policy areas including proposal requiring automated traders hand sensitive code without subpoena something giancarlo said would strip owners intellectual property due process as chairman giancarlo likely focus energy scaling back rules believes overly burdensome help boost economic growth vision also shared jay clayton trump pick head cfc sister regulator securities exchange commission in speech monday institute international bankers giancarlo criticized swelled heavily preventing repeat financial crisis saying impact sideline capital productive if confirmed chairman however giancarlo could face initial challenges getting agenda adopted currently panel two commissioners giancarlo sharon bowel democrat if two disagree decision measure pass giancarlo acknowledged challenge speech monday saying agency proceed controversial position limits rule without full commission trump yet nominated anyone remaining three positions politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Trump to nominate CFTC acting head Giancarlo as permanent chairmanWASHINGTON (Reuters) - President Donald Trump plans to nominate J. Christopher Giancarlo to lead the Commodity Futures Trading Commission, the regulator tasked with policing the massive over-the-counter derivatives market, the White House said on Tuesday. Giancarlo, a Republican, has been acting chairman of the CFTC since Jan. 20 and was widely expected to be tapped for the permanent position of chairman. He became a CFTC commissioner in 2014. The nomination comes just one day before Giancarlo is expected to give a major policy address at the annual Futures Industry Association conference in Boca Raton, Florida, where he plans to lay out his regulatory vision for the agency. The CFTC won broad new powers from the 2010 Dodd-Frank Wall Street reform law to regulate the swaps market, which until then had been largely unpoliced. Giancarlo previously served as executive vice president of financial services group GFI Group Inc. Throughout his tenure as a CFTC commissioner, Giancarlo has been critical of the way the agency has implemented many of the new rules required by Dodd-Frank. He issued a white paper in 2015, for instance, which accused the CFTC’s regulatory framework of driving global traders away from the United States, fragmenting the marketplace and increasing liquidity risk. He has dissented on a number of other major policy areas, including a proposal requiring automated traders to hand over sensitive code without a subpoena - something Giancarlo said “would strip owners of intellectual property of due process of law.” As chairman, Giancarlo is likely to focus his energy on scaling back rules that he believes are overly burdensome to help boost economic growth - a vision that is also shared by Jay Clayton, Trump’s pick to head the CFTC’s sister regulator, the Securities and Exchange Commission. In a speech Monday before the Institute of International Bankers, Giancarlo criticized those who have dwelled heavily on preventing a repeat of the financial crisis, saying the impact has been to “sideline capital from productive uses.” If confirmed as chairman, however, Giancarlo could face some initial challenges getting his agenda adopted. Currently, the five-member panel is down to two commissioners - Giancarlo and Sharon Bowen, a Democrat. If the two disagree on a decision, the measure cannot pass.  Giancarlo acknowledged this challenge in his speech Monday, saying the agency cannot proceed on a controversial position limits rule without a full commission.  Trump has not yet nominated anyone for the remaining three positions.  politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: trump nominate cfc acting head giancarlo permanent chairmanwashington reuters president donald trump plans nominate christopher giancarlo lead commodity futures trading commission regulator tasked policing massive derivatives market white house said tuesday giancarlo republican acting chairman cfc since widely expected tapped permanent position chairman he became cfc commissioner the nomination comes one day giancarlo expected give major policy address annual futures industry association conference boca ration florida plans lay regulatory vision agency the cfc broad new powers wall street reform law regulate swaps market largely unnoticed giancarlo previously served executive vice president financial services group gf group inc throughout tenure cfc commissioner giancarlo critical way agency implemented many new rules required he issued white paper instance accused cfc regulatory framework driving global traders away united states fragmenting marketplace increasing liquidity risk he dissented number major policy areas including proposal requiring automated traders hand sensitive code without subpoena something giancarlo said would strip owners intellectual property due process as chairman giancarlo likely focus energy scaling back rules believes overly burdensome help boost economic growth vision also shared jay clayton trump pick head cfc sister regulator securities exchange commission in speech monday institute international bankers giancarlo criticized swelled heavily preventing repeat financial crisis saying impact sideline capital productive if confirmed chairman however giancarlo could face initial challenges getting agenda adopted currently panel two commissioners giancarlo sharon bowel democrat if two disagree decision measure pass giancarlo acknowledged challenge speech monday saying agency proceed controversial position limits rule without full commission trump yet nominated anyone remaining three positions politicsnews