The CFA Institute Centre for Financial Market Integrity has issued a report calling for the creation of an independent self-regulatory organization to oversee the world's exchanges and markets. In the U.S., the primary SRO is the Financial Industry Regulatory Authority, which is the result of a merger of two regulators. That merger "was an excellent first step" toward reducing duplication, said SIFMA spokesman Travis Larson. "But we have an interest as well in transatlantic and international financial-regulatory systems' coming into close alignment."

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