The SEC and CFTC formed a joint committee to review the May 6 market decline and also recommend ways to resolve regulatory issues affecting both agencies, according to a news release from both agencies.
“As last week's events remind us, our markets are increasingly interrelated and interdependent so we need to appreciate how events in one arena can potentially impact investors and markets elsewhere,” SEC Chairwoman Mary Schapiro said in the release.
Ms. Schapiro and CFTC Chairman Gary Gensler will be co-chairs of the committee, the news release said. Among the committee's other members, according to the news release, are Jack Brennan, former chairman and CEO of Vanguard Group, and Richard Ketchum, FINRA chairman and CEO.
