Two former US Securities and Exchange Commission (SEC)
regulators have told IFLR they were hopeful of a possible
congressional move during the drafting of Dodd-Frank to
integrate the SEC and Commodity Futures Trading Commission
(CFTC) into one regulator.
However those talks have ended, and a rule
finalised by the CFTC on February 9 serves as yet another
example of US bifurcated regulation.
There is a house committee overseeing the SEC and a
house committee overseeing the CFTC, said a former SEC
regulator, preferring to remain anonymous. It is
difficult to get the political will to do this because both
committees want to continue their oversight.
A former SEC commissioner pointed to the...