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The Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission invited NERA Vice President Dr. Sharon Brown-Hruska, a former CFTC Commissioner, to participate in their joint meeting on the harmonization of market regulation in Washington, DC on 2-3 September 2009. The meeting was held in response to President Obama's request that the two agencies recommend changes to statutes and regulations that would, as appropriate, eliminate differences with respect to similar types of financial instruments. Topics discussed at the meeting included the regulation of exchanges and markets, the regulation of intermediaries, the regulation of clearance and settlement, enforcement, and the regulation of investment funds. Dr. Brown-Hruska discussed inconsistencies, overlaps, and gaps between the regulatory schemes and suggested changes that would improve market transparency, market integrity, and investor protection.