With the global financial crisis accelerating calls for regulatory reform in the United States, new plans for how best to revamp the U.S. system seem to emerge nearly every day. The latest to enter the fray of those offering their two cents on how to overhaul financial regulation is Commodity Futures Trading Commission Acting Chairman Walter Lukken, who, not surprisingly, took the opportunity to shoot down the renewed calls for a merger between his agency and the Securities and Exchange Commission.
Speaking to the Futures Industry Association’s Futures and Options Expo in Chicago on Nov. 11, Lukken said a merger between the two agencies—an idea that seems to resurface every time talk turns to regulatory reform—would be “ineffective” and would only reinforce the United States’ “outdated regulatory structure.”
