| After protracted battles with the Securities and Exchange Commission and the Commodity Futures Trading Commission, the head of one of the world’s biggest trading firms says it’s time to rethink the entire US securities industry regulatory framework.
“Friction between the SEC and the CFTC is just an ongoing counterproductive force,” Donald R. Wilson, founder of the Chicago-based proprietary trading powerhouse DRW Holdings LLC, said in an interview. “It’s time to just start from scratch, to actually get rid of both the CFTC and the SEC and create an entirely new regulator.”
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