The SEC and Commodity Futures Trading Commission have formed a joint committee that will address emerging regulatory issues. The establishment of the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues was one of the 20 recommendations included in the agencies’ harmonization report issued last year.
The joint committee will develop recommendations on emerging and ongoing issues relating to both agencies. The first item on the committee’s agenda is a review of the 9.2% stock market sell-off that occurred on May 6 and making recommendations related to market structure issues that may have contributed to the volatility, as well as disparate trading conventions and rules across various markets.
SEC Chairman Mary Schapiro and CFTC Chairman Gary Gensler will be co-chairs of the joint committee.
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