The SEC and CFTC ought to merge, says a House subcommittee, as confusion about who had oversight...

|By:, SA News Editor

The SEC and CFTC ought to merge, says a House subcommittee, as confusion about who had oversight for what likely contributed to the MF Global fiasco. The report also questions the FRBNY for giving MF primary dealer status despite a clear record of "prior risk management failures (and) chronic net losses." Yes, but the CEO had an A-list rolodex.