CME Urged to Split Roles

The top Democrat on the House Financial Services Committee said that CME Group Inc., the biggest U.S. futures exchange, should no longer be responsible for supervising its own customers in order to eliminate any potential conflicts of interest. Spinning off CME’s regulatory functions into a separate entity would help restore investors’ lost confidence in domestic futures markets, Rep. Barney Frank (D., Mass.) said in an interview Thursday. “I have no doubt about the CME’s integrity, but nobody should be in the position of having a dual role,” Rep. Frank said. “We should make sure [a conflict of interest] doesn’t arise, that the temptation isn’t there, that people are not unconsciously influenced.”
Read more in the Wall Street Journal here.