SEC chair Mary Schapiro’s testimony to the congressional hearing convened on the flash crash is less than 24 hours old, but already there’s talk of hosting another talking shop on the matter.
Politico reported on Wednesday that the first item on the agenda of the freshly-announced joint SEC-CFTC committee on “emerging regulatory issues” will be “a review of last Thursday’s market events, with an eye to what might have contributed to the day’s volatility.”
Members of that joint panel, which will headed by Schapiro and her CFTC counterpart Gary Gensler, include:
• Brooksley Born, former CFTC chairwoman
• Jack Brennan, former chief executive officer and chairman, Vanguard
• Robert Engle, professor of finance at NYU’s Stern School of Business
• Richard Ketchum, chairman and chief executive officer, FINRA
• Maureen O’Hara, professor of management and finance, Cornell University
• Susan Phillips, dean, The George Washington University School of Business
• David Ruder, former SEC chairman
We are hoping the panel will actually, you know, draw a conclusion. But we’re not holding our breaths.
Related links:
Did futures cause the ‘flash crash’? – FT Alphaville
ETFs and the ‘flash crash’ – FT Alphaville
Nasdaq, NYSE testimony on the flash crash – FT Alphaville
Thursday’s crash might really have been a Black Swan event – FT Alphaville