Mary Schapiro's planned departure from the Commodity Futures Trading Commission will leave the futures and options regulation agency with two of its five commission seats vacant for the second time in the last two years.

While the Clinton administration searches for possible replacments - a process that may stretch past election day 1996 - some observers are worried that it may be difficult for the agency to respond as decisively as it did to the Barings PLC collapse should another crisis arise in the futures market.

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