DRW Founder: Suggest Eliminating SEC and CFTC, Restructuring U.S. Regulatory Framework

TechFlow reported on November 27, according to Bloomberg, Donald R. Wilson, founder of one of the world's largest trading firms DRW Holdings LLC, said in an interview that the regulatory framework for the U.S. securities industry needs rethinking. He pointed out, "The friction between the SEC and CFTC has consistently been a counterproductive force," suggesting a fresh start by eliminating the existing SEC and CFTC and creating a new regulatory agency."