Wholesale Internet carrier Level 3 quickly cited the new rules in a fight with Comcast over how much it would pay to stream data to Comcast customers.

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In it the White House's former counterterrorism chief, Richard Clarke, urged a wholesale reboot of government computer systems and new security rules for electric utilities and Internet access providers.

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So the commission rules out a complete separation of the retail and wholesale businesses.

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Mr Breuer would prefer it to standardise rules for the benefit of issuers and intermediaries in the wholesale capital markets.

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Recently the rules have changed, restricting the number of tourists allowed to view the auctions and the wholesale markets.

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