The Trump administration has allegedly rescinded Brian Quintenz’s nomination to oversee the Commodity Futures Trading Commission.

Politico reported on Tuesday, referencing two individuals familiar with the decision prior to its public disclosure, that the White House has retracted Quintenz’s nomination to serve as a board member and chair of the CFTC.

Quintenz informed Politico that “being nominated to chair the CFTC and undergoing the confirmation process was the greatest honor of my life.”

“I am thankful to the President for that chance and to the Senate Agriculture Committee for its evaluation,” he continued. “I am eager to return to my private sector pursuits during this thrilling period for innovation in our nation.”

This is an evolving story, and additional details will be provided as they become available.