Regulators Unite!
Yesterday, the SEC and CFTC announced an agreement that would bring the regulators ever closer together by integrating their regulatory efforts in an industry looking for innovation in products. The regulators have designed a framework for sharing information and have established principles for regulatory review of new products that may be permitted to trade as either a commodity future or as a security, or both.
The agreement also calls for a permanent regulatory “liason” between the two regulators, formal quarterly meetings of staff, and consultation on matters including industry M & A investigations.
Furthermore, as the Wall Street Journal reported on it, this is an interesting agreement to be made just weeks before the Treasury Department is set to release propsed changes to the financial regulatory system in April.
Have these agencies put aside their differences and come to an agreement that would create a more effectice and efficient regulatory model?
Is this agreement the first major step toward uiniting the two regulators?
March 13th, 2008 at 2:05 am
I thought that the Director of National Inteligence had a pretty good gig. This will be a powerful position….or go the way of the DNI. It will be interesting to follow how this develops.