Bill Merging SEC, CFTC Will Bolster Regulation: House Reps.

Law360, New York (November 29, 2012, 7:34 PM EST) -- Democratic congressmen on Thursday introduced a bill that would merge the U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission, after communications failures between the agencies contributed to the downfall of broker-dealer MF Global Inc.

Barney Frank, the ranking member of the House of Representatives' Financial Services Committee, and Mike Capuano, another committee member, said the bill would help strengthen the financial regulatory system.

The two agencies, though they regulate similar markets, operate separately, a system that may have contributed to the government's failure...
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