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CFTC/SEC Enforcement Programs: Status and Potential Impact of a Merger

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Report Type Reports and Testimonies
Report Date Oct. 25, 1995
Report No. T-GGD-96-36
Subject
Summary:

Legislation pending before Congress--H.R. 718, the Markets and Trading Reorganization and Reform Act--would merge the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). GAO testified that merging CFTC and SEC could yield a number of enforcement benefits, such as enhanced intermarket surveillance, availability of resources, and quality of staff and training. However, regardless of whether the agencies are merged or not, a need would still exist for attorneys and investigators with specialized skills and expertise in future and securities laws and markets. Moreover, effective enforcement of securities laws is only one factor that Congress should consider in evaluating a merger.

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