FOR IMMEDIATE RELEASE
2018-114
Washington D.C., June 28, 2018 —
The Securities and Exchange
Commission and the Commodity Futures Trading Commission (CFTC) 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 rulemaking,
regulatory oversight, and enforcement. For example, the new MOU
specifically addresses the regulatory regime for swaps and
security-based swaps.
"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."
"Chairman Clayton and I identified these rules and regulations as an
area where coordination would enhance our effectiveness," said CFTC
Chairman 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."
The agencies anticipate that they will continue to cooperate
primarily through ongoing informal consultations and meetings.