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CFTC's Gensler sees no need to merge with U.S. SEC

WASHINGTON (Reuters) - There is no compelling reason to merge the U.S. equities and futures regulators, said the chairman of the Commodity Futures Trading Commission on Thursday when asked if a merger will be proposed.

“I think a merger for merger’s sake would not meet that test” of improving the regulatory system, CFTC Chairman Gary Gensler said.

He spoke to reporters after presenting at a Senate hearing a proposal for comprehensive oversight of over-the-counter derivatives dealers and markets.

Gensler did not respond directly to questions on whether the Obama administration would propose a merger. A combination of CFTC and the Securities and Exchange Commission is a recurrent idea when regulatory reform is under discussion.

The chairman of the House Financial Services Committee said on Wednesday that a merger was off the table from his point of view.

Reporting by Charles Abbott; Editing by Andre Grenon

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