Two regulators charged with overseeing derivatives markets will begin joint hearings on regulatory harmonization today. Findings during the hearing could offer further indications of how the new regulatory landscape for derivatives will look.
The Commodity Futures Trading Commission and the Securities and Exchange Commission will host a series of panels made up of experts on derivatives, as they attempt to hammer out an agreement on oversight by a Sept. 30 deadline.
By the end of the month, the CFTC and the SEC will have to report to Congress on all present conflicts they face in their attempts to begin policing previously unregulated markets, including the market for credit-default swaps.
Panelists include representatives from clearing platforms, investor trade groups, options exchanges, and other participants in the markets. The sessions will focus on broad themes such as "enforcement" and "intermediaries," as well as topics such as capital and margin requirements and clearing and settlement practices.
The first day of panels will convene at the CFTC; the second day's panels will be held at the SEC.