Securities and Exchange Commission Chairman Mary Schapiro says that it is “critical” that her agency and others have access to information on the types of derivatives transactions that were so instrumental to the collapse of the financial sector last year. According to Bloomberg, Schapiro said in an interview that regulators require “information that allows us to construct an audit trail, so that we can find insider trading, manipulation, and other concerns that can reverberate through the entire marketplace.” Both the SEC and the Commodity Futures Trading Commission have weighed in on the need to police derivatives transactions. “We can bring a lot more stability and soundness to this marketplace through the regulation of these instruments,” said Schapiro.
Schapiro Wants More Derivatives Data
The SEC chairman says that the regulation of derivatives transactions is crucial going forward.
August 28, 2009