German regulator may follow US

GERMANY - The integration of European capital markets means Germany's securities regulator will need to model itself increasingly on the US Securities and Exchange Commission, according to Georg Wittich, the German authority's chairman.

"One should examine whether the SEC might not be the appropriate structure for securities regulation in the future," Mr Wittich said in an interview.

"We will have to go towards more centralisation at the German level as the need arises for increased co-operatio