The U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) signed a new information sharing deal on Thursday in an effort to ensure co-ordination between the U.S. federal securities and derivatives regulators.
The SEC and the CFTC have entered a new memorandum of understanding (MOU), which updates their original MOU signed in 2008, and aims to make the agreement more relevant to the current market environment. The agreement aims to enhance the efficiency of policy-making, regulatory oversight and enforcement.
The agencies noted that the new MOU addresses the regulation of swaps and security-based swaps.
“Today’s interrelated markets demand that the SEC and CFTC work together to provide a coherent and co-ordinated approach to regulation,” said SEC Chairman Jay Clayton in a statement. “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.”
“This MOU strengthens our joint regulatory response, streamlines our partnership and makes information sharing more seamless and effective,” added CFTC Chairman Christopher Giancarlo in a statement.