An idea left on the cutting room floor of the Dodd-Frank Act was a plan to consolidate the Securities and Exchange Commission and Commodity Futures Trading Commission into a single regulator. Abandoned as too controversial, it seems a modest proposal compared to the sweeping regulatory changes suggested by a Washington think tank.
In a new report, the Bipartisan Policy Center is recommending that Congress consider a sweeping consolidation of government agencies “to make better sense of the fragmented U.S. financial regulatory system.” Among the recommendations from its Regulatory Architecture Task Force:
