If there was improper activity here that impacted their customers and their clients, that needs to be taken up as well.
You have got discretion to determine that; isn't that just your ordinary function?
We adopt laws and you guys implement it, and in your discretion you further define things.
All right. So as I understand it, these offshore affiliates of mutual funds that do not now have to register as commodity pool operators wit...
So you can use that authority to level the playing field. Is that correct?
There are good reasons to have a global regime. I happen to agree with that.
The goal of making our markets more transparent and greater integrity is an attraction to investors.
And isn't that a problem?
And, therefore, does it require oversight from either or both the SEC and the CFTC?
Do you believe that the purpose of our congressional enactment is to prevent excessive speculation?
And are price distortions and large price swings a problem?