OCC applauds the release of the joint SEC and CFTC report on the harmonization of regulation

Statement from Michael E. Cahill, President and Chief Operating Officer of the Options Clearing Corporation:

“OCC applauds the release of the joint SEC and CFTC report on the harmonization of regulation. OCC Chairman Wayne Luthringshausen testified at the joint meeting on harmonization last month and recommended in particular that there should be harmonization in portfolio margining, streamlining product approval and providing consistency in risk disclosure. We are pleased that included in the Joint Report there were recommendations addressing each of these issues in a comprehensive and thoughtful manner. OCC recognizes that the task is far from finished and much needs to be done, but the report clearly maps the road ahead. We look forward to working with the commissions to implement the recommendations to achieve harmonization.”

About The Author

Felix Shipkevich

Felix Shipkevich is a Manhattan-based attorney and general counsel for Shipkevich Law Firm. He has extensive experience working with the CFTC and NFA on registration, compliance, and enforcement issues for CPOs, CTAs, FCMs, IBs, and RFEDs. Felix also practices intellectual property and corporate governance law.