SEC-CFTC Reach Accord

The Securities and Exchange Commission and the Commodity Futures Trading Commission have put aside their regulatory turf wars and entered into a memorandum of understanding that fosters cooperation between the two enforcement bodies in market oversight and regulation. The agreement includes an information-sharing platform along with guidance for new product reviews - particularly if the products can trade as both a security or a commodity. The first order of business under the joint relationship is notices requesting public comment on two new products --the first is an option that would be traded on options exchanges, and the other is a future that would trade on a single stock futures exchange. The requests for comment will be published in the Federal Register.