SEC and CFTC Announce Inter-Agency Coordination MOU

SEC Press Releases

Published March 11th, 2026

Detected March 12th, 2026

Summary

The SEC and CFTC have signed a Memorandum of Understanding to enhance coordination and collaboration between the agencies. This agreement aims to support lawful innovation, uphold market integrity, and protect investors and customers by harmonizing regulatory definitions and coordinating oversight.

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What changed

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have entered into a Memorandum of Understanding (MOU) to foster greater coordination and collaboration. This agreement, announced on March 11, 2026, aims to streamline regulatory processes, reduce duplicative rules, and provide clarity for market participants, particularly concerning areas like crypto assets and emerging technologies. The MOU establishes a Joint Harmonization Initiative to coordinate policymaking, examinations, and enforcement.

This initiative is expected to lead to clearer product definitions, modernized clearing and margin frameworks, reduced friction for dually registered entities, and a more coherent regulatory approach to crypto assets. While the MOU itself is non-binding, it signals a significant shift towards regulatory harmonization. Market participants should review the joint initiative's focus areas and consider submitting input through the provided channels. The agencies are encouraging public input on these efforts.

What to do next

Review the SEC/CFTC MOU and Joint Harmonization Initiative details.
Monitor future joint interpretations, rulemakings, and guidance from the SEC and CFTC.
Consider submitting public input on areas of common regulatory interest via the provided channels.

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Press Release

SEC and CFTC Announce Historic Memorandum of Understanding Between Agencies

For Immediate Release

2026-26 Washington D.C., March 11, 2026 —

The Securities and Exchange Commission and the Commodity Futures Trading Commission today announced that they have entered into a Memorandum of Understanding (MOU) to guide coordination and collaboration between the two agencies to support lawful innovation, uphold market integrity, and ensure investor and customer protection. The MOU reflects both agencies’ commitment to provide fair notice to market participants, respect individual liberty, and foster lawful innovation with the minimum effective dose of regulation to enhance U.S. competitiveness in finance.

“For decades, regulatory turf wars, duplicative agency registrations, and different sets of regulations between the SEC and CFTC have stifled innovation and pushed market participants to other jurisdictions,” said SEC Chairman Paul S. Atkins. “This updated Memorandum of Understanding will serve as a roadmap for a new era of harmonization between the agencies – one that is critical to support U.S. leadership in this next chapter of financial innovation. By aligning regulatory definitions, coordinating oversight, and facilitating seamless, secure data sharing between agencies, we will ensure our rules and regulations deliver the clarity market participants deserve.”

“America’s financial markets are the envy of the world because they scale and adapt to meet investor demands. Like our markets, the CFTC’s and SEC’s regulatory frameworks must also evolve and modernize to accommodate the needs of our market participants,” said CFTC Chairman Michael S. Selig. “This Memorandum of Understanding solidifies the agencies’ commitment to harmonize regulatory frameworks to provide comprehensive and seamless financial market oversight. By working together, we’ll eliminate duplicative, burdensome rules and close gaps in regulation for the benefit of all Americans and usher in a Golden Age of American finance.”

In conjunction with the MOU, the agencies created a Joint Harmonization Initiative to advance coordinated oversight and promote regulatory clarity in areas of common regulatory interest. The initiative will support coordination across the policymaking, examination and enforcement functions of each agency, particularly for joint applications and shared policy efforts, including:

Clarifying product definitions through joint interpretations and rulemakings.
Modernizing clearing, margin, and collateral frameworks.
Reducing frictions for dually registered exchanges, trading venues, and intermediaries.
Providing a fit-for-purpose regulatory framework for crypto assets and other emerging technologies.
Streamlining regulatory reporting for trade data, funds, and intermediaries.
Coordinating cross-market examinations, economic analyses, risk monitoring, surveillance, and enforcement. The Joint Harmonization Initiative will be co-led by Robert Teply (SEC) and Meghan Tente (CFTC).

This announcement follows previously announced efforts to harmonize the agencies’ regulatory frameworks, which is further described on the SEC website and the CFTC website. Public input is encouraged and may be submitted through the written input form or a meeting request.

Last Reviewed or Updated: March 11, 2026