CFTC and SEC Announce Approval of New MOU

June 28, 2018

Washington, DC —  The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) announced today that the two agencies have approved a Memorandum of Understanding (MOU) that will help ensure continued coordination and information sharing between the two agencies.

The MOU updates and enhances a 2008 MOU to make it more relevant in the current market environment and promote efficiency in rule making, regulatory oversight, and enforcement.  For example, the new MOU specifically addresses the regulatory regime for swaps and security-based swaps.  

“Chairman Clayton and I identified these rules and regulations as an area where coordination would enhance our effectiveness,” said CFTC Chairman J. Christopher Giancarlo.  “Simply put, greater harmonization of our Title VII rules will enhance our oversight efforts and reduce unnecessary complexity, and lessen costs on both regulators and market participants.  This MOU strengthens our joint regulatory response, streamlines our partnership and makes information sharing more seamless and effective.” 

“Today’s interrelated markets demand that the SEC and CFTC work together to provide a coherent and coordinated approach to regulation, said SEC Chairman Jay Clayton.  “This MOU confirms our agencies’ commitment to working together as partners with distinct missions — all to the benefit of investors, as well as other market participants.”

The agencies anticipate that they will continue to cooperate primarily through ongoing informal consultations and meetings.