GAO Offers Guidance On SEC, CFTC Harmonization

Law360, New York (April 23, 2010, 3:11 PM EDT) -- Clearer goals and reporting requirements could enhance efforts by the U.S. Commodity Futures Trading Commission and the Securities and Exchange Commission to harmonize their regulatory approaches, according to a report by the U.S. Government Accountability Office.

The GAO released the report Thursday after assessing a joint report the two agencies issued last year recommending they bring their two approaches more in line with one another.

Both regulators should establish clearer goals for harmonization, including time frames for implementing their own recommendations, and they must develop requirements...
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