SEC-CFTC pact may reduce wait time for new products

03/20/2008 | CCHWallStreet.com

A cooperation agreement signed this month by the Securities and Exchange Commission and the Commodity Futures Trading Commission may shortcut the approval process for products that have both futures and securities components. The agreement calls for the agencies to share information about new products and enforcement cases. "Signing a memo of understanding is an interesting first step. But true efficiency will only come with consolidation," said SIFMA spokesman Travis Larson.

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