JP Morgan's Blythe Masters has withdrawn from an advisory panel to the Commodity Futures Trading Commission, amid pushback from lawmakers who complained about her role presiding over a unit charged with manipulating physical-commodity markets, people familiar with the matter said.

Masters, JP Morgan's commodities chief, was invited by acting CFTC Chairman Mark Wetjen to join the agency's "global markets" advisory committee. News of the appointment fueled pushback, including from Democratic Senators, these people said.