- Japan Third Quarter GDP Jumps; 2010 Growth May Slow
- Analysis: APEC Nations Back Face-Saving Climate Plan
- Shift Into High-Quality Stocks Could Move Market Higher
- Drug Study Questions Effectiveness of Merck's Drugs
- Military Arms Race Dominates Dubai Air Show
- Buffett: I Haven't Bought AMEX Shares in Years
- Disaster Film '2012' Drowns Rivals at Box Office
- Cities With the Most Home Price Reductions
- Cramer: 5 Earnings Reports to Watch Next Week
- CNBC Video: Warren Buffett & Bill Gates - Keeping American Great
- U.S. Stocks Rally for the Second Straight Week
- Dollar is Not Plunging—So 'Calm Down': Market Strategist
- Strategists Say Markets Have More Upside — But How Much?
- Hirschhorn: Risk-Averse Traders
- Roginsky: A Funny Thing Happened on the Way to Financial Reform
- This Year's Biggest Thanksgiving Leftover: Cash
- TV Series Inks Unique Deal For Fight
- First Time Buyers Rescue Housing: Realtors
MOST SHARED
- U.S. May Wind Up Green With Envy
- Japan Third Quarter GDP Jumps; 2010 Growth May Slow
- Warren Buffett to CNBC: 'I Haven't Bought American Express In Years'
- Analysis: APEC Nations Back Face-Saving Climate Plan
- Disaster Film '2012' Drowns Rivals at Box Office
- Dipping Into Green Investing
- For Investors, The New Green Looks To Be White
- The Cost of Thanksgiving Dinner 2009
- Sustainability Indices Sprouting Up
- CNBC TRANSCRIPT: Warren Buffett & Bill Gates - Keeping America Great
Text Size 
Securities and Exchange Commission Chairman Christopher Cox said Tuesday that the SEC's agreement with the Commodity Futures Trading Commission brings the two regulatory bodies closer to integrating their responsibilities.
"What the SEC and CFTC have done today is going to take us far down the road toward integration of our regulatory responsibilities even without any legislative change," Cox said in an exclusive interview with CNBC.
"We are using our existing legal authorities to integrate to the maxium extent possible what our agencies do, not just on the development of new products, but also in the enforcement and examination areas," Cox said.
Earlier, Cox told reporters the SEC was comfortable with capital levels at the five largest investment banks, including Bear Stearns.
"We are reviewing the adequacy of capital at the holding company level on a constant basis, daily in some cases," Cox said, according to a Reuters report.
"We have a good deal of comfort about the capital cushions that these firms have been on," he said. On Monday, speculation that Bear Stearns was facing a cash crunch drove its stock down to a five-year low of $60.34. The investment bank moved to quash the rumors, saying its balance sheet, liquidity and capital remained strong.
Bear Stearns [BSC
Loading...
()
] shares extended losses on Tuesday, falling more than 10 percent to $55.85 on the New York Stock Exchange. Under a supervisory program, the SEC is in contact with investment banks Bear Stearns, Morgan Stanley [MS
Loading...
()
]]] ]
The program is designed to allow the SEC to monitor and respond quickly to any financial and operational weakness in the companies.
-Reuters contributed to this report.
Print
Email
- Where, what, how.
- Warren Buffett and Bill Gates spoke to Columbia students, and Buffett made the students a startling offer.
- For the chief of cable company Comcast, growth has been about making deals – generally very large deals.
- Some companies may start using insurance to shift carbon risk from their balance sheets to maybe... yours?
- The president and founder of Genesis Today wants to improve America’s health, and thinks Wal-Mart can help.
- Switzerland's privacy watchdog is taking legal action to force Google to make changes to its Street View service.
Data is a real-time snapshot *Data is delayed at least 15 minutes