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U.S. Securities and Exchange Commission

Statement by SEC Chairman Schapiro and CFTC Chairman Gensler on the Joint Report Regarding the Market Events of May 6th


Washington, D.C., Oct. 1, 2010 — The staffs of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) today released a joint report presenting their findings regarding the market events of May 6, 2010. The report will be presented to the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues. Twelve days after May 6th, the staffs of the Commissions released a preliminary report on the events of that day.

SEC Chairman Mary L. Schapiro and CFTC Chairman Gary Gensler issued the following statement in connection with the report:

"We appreciate the incredible effort of all the professionals at both agencies who have worked tirelessly, scouring the data, interviewing market participants and reconstructing the events of May 6th. This report identifies what happened and reaffirms the importance of a number of the actions we have taken since that day. We now must consider what other investor-focused measures are needed to ensure that our markets are fair, efficient and resilient, now and for years to come."

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Modified: 10/01/2010