SWFI First Read, August 4, 2017

U.S. Senate Confirms J. Christopher Giancarlo as CFTC Chairman

The U.S. Senate unanimously confirmed J. Christopher Giancarlo as Chairman of the Futures Trading Commission (CFTC). Giancarlo has been the interim CFTC chairman since January 2017. The last official CFTC chairman was Timothy Massad who had resigned. In addition, the U.S. Senate also confirmed Brian Quintenz and Rostin Behnam as CFTC commissioners. Brian Quintenz was Founder, Managing Principal and Chief Investment Officer of Saeculum Capital Management. Quintenz was originally nominated by then U.S. President Barack Obama in 2016. He was also nominated by U.S. President Donald Trump in May 2017. Behnam was Senior Counsel for the U.S. Senate Committee on Agriculture, Nutrition and Forestry.

Raine Group and Temasek Eye SoundCloud Investment

The Raine Group and Singapore’s Temasek Holdings are in talks regarding buying a stake in music streaming service SoundCloud Ltd. SoundCloud had closed offices in London and San Francisco.

Temasek Sells Aetos Holdings to Surbana Jurong

Temasek Holdings sold 100% ownership of Aetos Holdings, a licensed auxiliary police force company, to Surbana Jurong Private Limited, a Singaporean government-owned consultancy company focusing on infrastructure and urban development.

David Grim to Exit SEC

David W. Grim plans to exit the U.S. Securities and Exchange Commission (SEC) in September 2017. He is currently Director of the Investment Management (IM) division. Grim has been with the SEC since 1995, starting as a staff attorney. He was promoted to the director of the IM division in 2015.

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