Howard Lutnick, the CEO of Cantor Fitzgerald LP, has announced his intention to step down from his positions and divest his interests in BGC Group Inc. and Newmark Group Inc. if he is confirmed as commerce secretary in President-elect Donald Trump’s administration.

Lutnick has stated that he will not sell shares on the open market, but will ensure a complete divestment from his two public companies. This decision is in line with the ethical considerations surrounding his potential appointment, which emphasizes the scrutiny faced by business leaders transitioning into government roles.

Lutnick's choice demonstrates his commitment to transparency and the avoidance of conflicts of interest during his potential tenure in the Trump administration.