12 December 2017
visit http://response.ncr.com

SEC and CFTC propose joint IT task force

20 October 2009  |  7188 views  |  0 handshake

The Securities and Exchanges Commission and Commodity Futures Trading Commission want to create a joint IT task force as part of a wider move to harmonise their work and improve cooperation.

The call comes in a joint report to the US Congress containing 20 recommendations to enhance enforcement powers, strengthen market and intermediary oversight and improve operational coordination.

The joint information technology task force would link publicly-filed information, providing a consolidated database on people and entities regulated by the CFTC and SEC to "promote transparency and facilitate the use and understanding of such information", says the report.

An integrated database would also assist staff at both agencies in conducting investigations, examinations, enforcement matters, and market surveillance activities, say the watchdogs.

In addition, the report recommends that the task force explores linking or coordinating the National Futures Association BASICdatabase and the Investment Adviser Registration Depository.

Commenting on the report, Mary Schapiro, chairman, SEC, says: "This report is another step forward in our effort to reform the regulatory landscape and ensure greater harmonization between our agencies. I believe these recommendations will help to fill regulatory gaps, eliminate inconsistent oversight, and promote greater collaboration."

You can read the full report here.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

SEC to extend dark pool probe

SEC to extend dark pool probe

09 October 2009  |  7575 views  |  0 comments
SEC approves new rules to deal with erroneous trades

SEC approves new rules to deal with erroneous trades

06 October 2009  |  5748 views  |  0 comments
SEC proposes flash ban; takes aim at credit rating agencies

SEC proposes flash ban; takes aim at credit rating agencies

18 September 2009  |  6118 views  |  0 comments
CFTC and FSA to lead commodities task force

CFTC and FSA to lead commodities task force

02 October 2008  |  5095 views  |  0 comments
US regulators forge closer ties to combat fraud

US regulators forge closer ties to combat fraud

31 May 2002  |  3506 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit www.response.ncr.comvisit www.solutions.lexisnexis.com

Top topics

Most viewed Most shared
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11771 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
8609 views comments | 15 tweets | 21 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
7055 views comments | 8 tweets | 17 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
6778 views comments | 20 tweets | 11 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
6614 views comments | 17 tweets | 35 linkedin

Featured job

Find your next job