Jeb Hensarling actually said...
I think if the SEC and the CFTC don't harmonize their rules, just to give you a real-world experience, you could have a credit default swap desk in our corporate area, where a single broker who brokers both credit default swaps and indices following, two sets of rules.
Context
Hensarling discusses the complexities of differing regulations between SEC and CFTC.
10/13/2011