To establish a Securities and Derivatives Oversight Commission in order to combine the functions of the Commodity Futures Trading Commission and the Securities and Exchange Commission in a single independent regulatory commission, and for other purposes.

Market Oversight Consolidation and OTC Derivatives Regulation Act - Establishes the Securities and Derivatives Oversight Commission (SDOC) as an independent regulatory commission. Mandates a separate division within SDOC with responsibility for functions relating to markets in physical commodities. Transfers to SDOC all functions of: (1) the Commodity Futures Trading Commission; (2) the...