Market and legal experts last week urged members of two key federal regulating agencies to work together in strengthening oversight of trading markets and in enforcing rules of trade.

The comments were made on Sept. 3 during the second day of a joint meeting of the Securities and Exchange Commission and Commodity Futures Trading Commission. The legal experts, some of whom were former prosecutors and legal staff members of the two commissions, are now in the private sector. One was a law professor.

There was broad agreement among the experts that both agencies, which have in the past fought over turf, should coordinate on how to approach oversight of the markets and enforcement of regulations in a unified matter, especially in cases where there is an overlap of jurisdiction, such as swaps and other sophisticated hedging tools.

Suncor Energy Inc. said it is on track to meet or exceed operating and capital efficiency targets following its merger with Petro-Canada.

When the companies, which combined in August, announced their merger plan in March they estimated that the combination would yield annual reductions of $300 million in operating expenditures and $1 billion in capital expenditures.

“One month after close, we are already seeing significant savings through integration of our product marketing logistics and economies of scale in our supply chain,” said Rick George, president and CEO. “Unfortunately, bringing two large businesses together has also meant that some of the efficiencies are necessarily through workforce reductions.”