About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

SEC’s Cox Calls for Merger of CFTC and SEC

Subscribe to our newsletter

Originally appeared in MiFID Monitor

The credit derivatives regulatory turf war that has been ongoing for the last couple of months may soon be over if the proposal by the chairman of the US Securities and Exchange Commission (SEC) for a merger between the SEC and the Commodity Futures Trading Commission (CFTC) is approved. Christopher Cox has publicly stated his support for the merger and suggested to a hearing before Congress this week that a select committee on financial services regulatory reform should be formed to explore the details.

“This would bring futures within the same general framework that currently governs economically similar securities,” he told the Congressional hearing.

Although the SEC and CFTC signed an agreement to increase cooperation in March, they have been recently engaged in jurisdictional battles concerning the regulation of the credit default swap (CDS) market. The discussions around the establishment of a CDS clearing counterparty have been mired in a legal quandary as the once clear cut lines between regulatory jurisdiction have blurred.

Cox’s suggestion would solve these issues and it is he first time that he has displayed support for such a merger.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Sponsored by FundGuard: NAV Resilience Under DORA, A Year of Lessons Learned

The EU’s Digital Operational Resilience Act (DORA) came into force a year ago, and is reshaping how asset managers, asset owners and fund service providers think about operational risk. While DORA’s focus is squarely on ICT resilience and third-party dependencies, its implications extend deep into core operational processes that are critical to market integrity, investor...

BLOG

Discover What’s Top of Mind for Industry Leaders as aiComms Surge and 99% of Firms Plan to Expand their AI Use

By Esteban Lopez, Product Management, Theta Lake. Building on research conducted by Theta Lake since 2018, the seventh edition of this groundbreaking industry report offers valuable insights into how AI, modern unified communication and collaboration (UCC) platforms, and DCGA tools are being used across financial services organizations. As the growth of UCC tools and AI...

EVENT

Data Management Summit London

Now in its 16th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Pricing and Valuations

This special report accompanies a webinar we held a webinar on the popular topic of Pricing and Valuations, discussing issues such as transparency of pricing and how to ensure data quality. You can register here to get immediate access to the Special Report.