Article
SEC and CFTC Joint Rulemakings Under Dodd-Frank - A Regulatory Odd Couple?
Banking Report (BNA)
(2011)
Abstract
By now it is a commonplace that the Dodd-Frank Wall Street Reform and Consumer Protection Act requires
dozens of agency and interagency implementing rulemakings. Less understood is how difficult it was to design a
viable process for two widely respected agencies, the Securities and Exchange Commission (“SEC”) and the
Commodity Futures Trading Commission (“CFTC”), to engage in joint rulemakings to implement Title VII, which
governs the regulation of derivatives. Was the process difficult because the CFTC and SEC are so different in
their regulatory approaches, or is the job expected of them so daunting that extensive ground rules are essential
to the task? A review of the alternatives that Congress considered and rejected can help a curious reader
appreciate how Congress expects the SEC and the CFTC to share the responsibility for the regulation of a
huge, previously unregulated market in financial instruments.
Keywords
- consumer protection,
- sec,
- cftc,
- dodd-frank
Disciplines
Publication Date
March 7, 2011
Citation Information
Hilary J Allen and Donald M Lamson. "SEC and CFTC Joint Rulemakings Under Dodd-Frank - A Regulatory Odd Couple?" Banking Report (BNA) Vol. 43 Iss. 10 (2011) Available at: http://works.bepress.com/hilary-allen/30/