The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) announced they have entered into a Memorandum of Understanding to guide coordination and collaboration between the agencies in support of lawful innovation, market integrity, and investor and customer protection. The arrangement is positioned as a framework for harmonizing oversight, providing fair notice to market participants, and reducing duplicative regulatory burdens while addressing gaps in regulation. Alongside the MOU, the agencies created a Joint Harmonization Initiative to coordinate policymaking, examinations, and enforcement in areas of common interest. The work programme includes clarifying product definitions through joint interpretations and rulemakings, modernizing clearing, margin and collateral frameworks, reducing frictions for dually registered exchanges, trading venues and intermediaries, developing a fit-for-purpose regulatory framework for crypto assets and other emerging technologies, streamlining regulatory reporting for trade data, funds and intermediaries, and coordinating cross-market examinations, economic analyses, risk monitoring, surveillance and enforcement. The Initiative will be co-led by Meghan Tente (CFTC) and Robert Teply (SEC). Public input is encouraged and can be submitted through a written input form or a meeting request.

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