Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Friday, October 16, 2009

SEC & CFTC Issue Report on Harmonizing Regulation of Futures and Securities

The SEC and the CFTC issued a joint report identifying areas where the agencies' regulatory schemes differ and recommending actions to address those differences, where appropriate.  In June, the White House released a White Paper on Financial Regulatory Reform calling on the SEC and CFTC to "make recommendations to Congress for changes to statutes and regulations that would harmonize regulation of futures and securities." Today's report includes 20 recommendations to enhance enforcement powers, strengthen market and intermediary oversight and improve operational coordination.

Over the past several months, the SEC and the CFTC have engaged in extensive discussions, including their first ever joint public meetings last month. The meetings solicited views from members of the investor community, academics, industry experts and market participants on the current regulatory scheme, harmonization of the agencies' rules and recommendations for changes to statutes and regulations. The agencies also solicited written comments to further assist their deliberations.

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