Joint Meetings on Harmonization of Regulation

On June 17, 2009, the Department of the Treasury released a White Paper on Financial Regulatory Reform ("White Paper') calling on the SEC and the CFTC to "make recommendations to Congress for changes to statutes and regulations that would harmonize regulation of futures and securities.' Specifically, the White Paper recommended "that the CFTC and the SEC complete a report to Congress by September 30, 2009 that identifies all existing conflicts in statutes and regulations with respect to similar types of financial instruments and either explains why those differences are essential to achieve underlying policy objectives with respect to investor protection, market integrity, and price transparency or makes recommendations for changes to statutes and regulations that would eliminate the differences.' On September 2, 2009, from 9 a.m. until 5 p.m., and September 3, 2009, from 9 a.m. until 12:30 p.m., the SEC and the CFTC will hold joint meetings to discuss assessments of the current regulatory scheme, harmonization of the agencies' rules, and recommendations for changes to statutes and regulations. The meetings will consist of five panels. Topics to be discussed will include the regulation of exchanges and markets; the regulation of intermediaries; the regulation of clearance and settlement; enforcement; and the regulation of investment funds. On September 2, 2009, a meeting will be held in Lobby Level Hearing Room (Room 1000) at the CFTC's headquarters at Three Lafayette Centre, 1155 21st Street, NW., Washington, DC 20581. On September 3, 2009, a meeting will be held in the auditorium at the SEC's headquarters at 100 F Street, NE., Washington, DC 20549. The meetings will be open to the public with seating on a first-come, first-served basis. The meetings also will be available via Web cast on the SEC's Web site at http:// www.sec.gov and at the CFTC's Web site at http://www.cftc.gov. A transcript of the meetings will be made and entered into the Agencies' public comment files, which will remain open for the receipt of written comments until September 14, 2009. The SEC and the CFTC welcome feedback regarding any of the topics to be addressed at the meetings.