Single US regulation plans prompt industry rebukes

The possibility of the creation of a single body regulation for the US securities and futures markets has raised its head again after recent comments by current and former Securities and Exchange (SEC) chairmen.

SEC chairman Christopher Cox told reporters on 11 November at a Securities Industry and Financial Markets Association conference that a combined SEC and Commodity Futures Trading Commission (CFTC) would require a dramatic legislative change but told newswire MarketWatch that "the subject has been broached".

Meanwhile, former SEC chairman Arthur Levitt wrote an August opinion piece that...