SEC Chair Calls for ‘Coordinated Oversight‘ Between US Financial Agencies

SEC Chair Gary Gensler has called for a new era of “coordination and collaboration” between the SEC and the Commodity Futures Trading Commission (CFTC), emphasizing the need to end “duplicative enforcement actions and conflicting remedial obligations.” Speaking at the FIA Global Cleared Markets Conference, Gensler stated that the two agencies are considering an updated memorandum of understanding to coordinate legal theories and strategies, particularly in areas where regulatory frameworks overlap. This push for cooperation comes as US lawmakers debate the CLARITY Act, which aims to clarify the CFTC’s authority over crypto assets. The SEC and CFTC have historically experienced jurisdictional overlap in regulating cryptocurrencies, leading to confusion for firms operating in the space. Gensler announced joint meetings between SEC and CFTC staff on product applications and the launch of a harmonization website to address these issues. The call for coordination is occurring while both agencies have vacancies in their leadership, with President Trump yet to nominate additional commissioners.

(Source：Cointelegraph)