Bill to merge SEC and CFTC is introduced by Frank and Capuano

11/30/2012 | Reuters · Hill, The · AdvisorOne

Reps. Barney Frank and Michael Capuano have introduced legislation that would combine the Commodity Futures Trading Commission with the Securities and Exchange Commission. Republican House members recently suggested such a move would help prevent regulatory lapses, but the proposal faces significant obstacles. "The existence of a separate SEC and CFTC is the single largest structural defect in our regulatory system. Unfortunately, this is deeply rooted in major cultural, economic and political factors in America," said Frank, who is retiring from Congress.

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Reuters · Hill, The · AdvisorOne

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