On May 11, the SEC and the CFTC announced the formation of the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues. The committee's charter provides for: (i) identifying emerging regulatory risks, (ii) addressing and quantifying the impact of such risks and implications for investors and market participants, and (iii) furthering regulatory harmonization between the SEC and the CFTC. The committee will begin by reviewing the market events of May 6 to identify issues that may have contributed to the market's volatility. CFTC Release.