CFTC-SEC Joint Advisory Committee

The Securities and Exchange Commission and Commodity Futures Trading Commission established the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues to develop recommendations on emerging and ongoing issues relating to both agencies. The establishment of the Joint Committee was one of the 20 recommendations included in the agencies' harmonization report issued in 2009. Subjects to be addressed by the Joint Committee shall include the identification of emerging regulatory risks, assessment and quantification of the impact of such risks and their implications for investors and market participants, and the agencies' efforts on regulatory harmonization.

The first item on the committee's agenda is conducting a review of the market events of May 6, 2010 and making recommendations related to market structure issues that may have contributed to the volatility, as well as disparate trading conventions and rules across various markets.

CFTC Chairman Gary Gensler and SEC Chairman Mary Schapiro co-chair the Joint CFTC-SEC Advisory Committee.

Committee Charter (PDF)

Why the Joint Committee was Created

"It is important that we hear from this prominent panel of market practitioners, academics and former regulators about emerging risks in our markets. It is critical that the CFTC and SEC hear from the panel together because our markets are so intertwined. I am particularly interested in the Committee's first focus: advising on courses of action in response to the lessons learned from the market events of May 6."
CFTC Chairman Gary Gensler

"Our markets are increasingly interrelated and interdependent so we need to appreciate how events in one arena can potentially impact investors and markets elsewhere. The Joint Committee will serve an essential role in addressing that challenge."
SEC Chairman Mary Schapiro

Market Events of May 6, 2010

Staff Findings Regarding the Market Events of May 6, 2010 (PDF)
The CFTC and SEC issued a joint report presenting their findings regarding the market events of May 6, 2010
Released: October 1, 2010

Recommendations Regarding Regulatory Responses to the Market Events of May 6, 2010 (PDF)
The Joint CFTC-SEC Advisory Committee issued a report presenting their recommendations regarding regulatory responses to the market events of May 6, 2010.
Released: February 18, 2011

The CFTC and SEC are seeking input from the public on its recommendations.

Submit a Comment on the CFTC-SEC Recommendations
View Comments on the CFTC-SEC Recommendations

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