Markets and Trading Reorganization Act
This bill establishes the Securities and Derivatives Commission as an independent regulatory body and transfers to the commission all functions, officers, and components of the Commodity Futures Trading Commission and the Securities and Exchange Commission.
The new commission shall establish the following principal divisions: (1) a Markets and Trading Division that has oversight of market conduct and utilities, the conduct of market professionals, and self-regulatory organizations with regard to such market professionals; (2) an Issuers and Financial Disclosures Division that has oversight of the issuance of securities; and (3) an Enforcement Division that enforces commission rules.