BROKER-DEALER -

SEC and CFTC Approve New MOU -

On June 28, the Securities and Exchange Commission and Commodity Futures Trading Commission announced the approval of a new Memorandum of Understanding (MOU) aimed at ensuring continued information sharing between the agencies. The MOU updates and enhances a 2008 MOU between the agencies by adding various elements that reflect current market conditions. For example, the MOU addresses the regulatory regimes for swaps and security-based swaps. The agencies acknowledged that despite their approval of the MOU, they intend to continue cooperating primarily via informal consultations and meetings.