SEC and CFTC team up to review derivatives products

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The US Securities and Exchange Commission (SEC) and Commodities Futures Trading Commission (CFTC) have joined forces to review new derivative products. The move has been necessitated by the emergence of "products that may combine elements of both securities and commodity futures or options," says SEC chairman Christopher Cox. The SEC has also announced its intention to lighten the regulatory burden on exchange-traded funds (ETFs).Both parties signed a Memorandum of Understanding on March 11,