The chairman of the US Securities and Exchange Commission, Christopher Cox, has again called for the SEC to be given authority to oversee the credit default swap market, and for it to be merged with the Commodity Futures Trading Commission.
As politicians from both houses of Congress debate the future regulatory structure of the much-maligned CDS market, Cox wrote an article for the Washington Post, outlining his justification for new regulation, in the wake of high profile casualties such as Lehman Brothers and Bear Stearns.
The article, published...