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There has been, over the years,
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a lot of turf battles between the SEC and the CFTC
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because it's sometimes unclear
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whether something is a security or a futures.
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For example, when they started trading stock index futures,
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both these agencies thought it was in their turf
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because it involved both stock indexes and futures.
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Anyway, Paulson is proposing merging these.
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That makes sense and
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it seems like getting rid of some of this division
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of regulatory agencies is very beneficial.
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The division is what hampered regulators from