CFTC, SEC Eye Joint Regulation Of OTC Derivatives

Law360, New York (July 22, 2009, 7:43 PM EDT) -- In testimony before a U.S. House of Representatives panel Wednesday, U.S. Securities and Exchange Commission Chairman Mary L. Schapiro affirmed that the agency and the U.S. Commodity Futures Trading Commission would work together to regulate over-the-counter derivatives.

The House Committee on Financial Services held a hearing Wednesday with Schapiro and CFTC Chairman Gary Gensler to give an update on the regulatory overhaul for OTC derivatives with which President Barack Obama has tasked the regulators.

At the hearing, Schapiro stated in prepared testimony the regulators' recommendation for...
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