DRW Founder: Suggests Abolishing SEC and CFTC, Restructuring U.S. Regulatory Framework

ChainCatcher news, according to Bloomberg, Donald R. Wilson, the founder of one of the world's largest trading firms, DRW Holdings LLC, stated in an interview that the regulatory framework of the U.S. securities industry needs to be rethought.

He pointed out, "The friction between the SEC and CFTC has always been a counterproductive force, suggesting starting from scratch, abolishing the existing SEC and CFTC, and creating a brand new regulatory agency."