The New York Times' editorial board argues that the Commodity Futures Trading Commission is on the verge of significant change and raises concerns about personnel changes at the top of the agency. President Barack Obama has nominated Timothy Massad to succeed Gary Gensler as chairman. The White House reportedly is looking to nominate Sharon Bowen, a securities lawyer, to replace CFTC member Bart Chilton. "If Ms. Bowen is nominated and confirmed, that would leave the commission without a proven reformist or a technical derivatives expert," the editorial board writes. "That situation would be unacceptable."