Proposed U.S. risk regulator overlaps SEC, CFTC – futures regulator Gensler

By Reuters Staff
November 17, 2009

WASHINGTON, Nov 17 (Reuters) – A proposed super-regulator for the U.S. financial system could result in overlapping overseers of the securities and futures exchanges, said the chief futures regulator on Tuesday.

Chairman Gary Gensler of the Commodity Futures Trading Commission said Congress should “closely consider whether it’s best to set up multiple regulators” as part of administration and congressional proposals to create a systemic risk regulator.

In testimony for a House Agriculture Committee hearing, Gensler also said he believed the CFTC and the Securities and Exchange Commission ought to remain the sole regulators of clearinghouses affiliated with futures and equities exchanges.

(Reporting by Charles Abbott; Editing by Andrea Ricci)
((chuck.abbott@thomsonreuters.com; +1 202 898 8319))

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