SEC and CFTC to merge or not to merge?

It appears that not only the Forex brokers are undergoing a massive consolidation but that the regulation agencies are in a similar process as well. It�s been widely speculated that CFTC and SEC might merge in order to create one leading regulatory agency that will oversee all derivatives and off-exchange products (Forex for instance). However, this move might have just been cancelled: The new Treasury Secretary Timothy Geithner was rumoredto have said that the move won�t happen.
Whether it�s a good or a bad thing is a matter for debate, but it is clear that the change is logical because both agencies oversee financial instruments:

Forex Magnates