President Donald Trump has selected junior CFTC Commissioner Caroline Pham as acting chair of the swaps and derivatives regulator, according to an announcement from her office.The five members of the Commodity Futures Trading Commission voted Monday to confirm Pham as acting chair.

The derivatives market regulator is reorganizing its enforcement division in a move it said will end the practice of regulation by enforcement.

According to the CFTC’s announcement, the new structure will “more efficiently utilize the CFTC’s resources to prevent fraud, manipulation and abuse and ensure market integrity” as well as “provide enhanced governance and oversight of enforcement matters to prevent overreach and enhance consistency, fairness and due process.”