Paul Atkins called for stronger coordination between the US Securities and Exchange Commission and the Commodity Futures Trading Commission to avoid overlapping enforcement and improve regulatory clarity.
Speaking at the FIA Global Cleared Markets Conference in Florida, Atkins said the two agencies are considering an updated memorandum of understanding aimed at strengthening collaboration between the regulators.
“The regrettable era of duplicative enforcement actions and conflicting remedial obligations for the same conduct is over,”
Atkins said.
He added that regulators should coordinate legal strategies when markets operate in a single environment, warning that fragmented enforcement only increases confusion for companies navigating federal oversight.
The push for coordination comes as US lawmakers debate a broader market structure bill, known as the CLARITY Act, which could expand the CFTC’s authority over digital assets.
Atkins said SEC staff will hold joint meetings with CFTC officials on product applications and have launched a harmonisation website aimed at aligning regulatory approaches across both agencies.
“Firms should not be shuffled back and forth between regulators when a product touches elements of both regulatory frameworks,”
Atkins said.
Leadership at both regulators remains thin, with Michael Selig currently the only Senate-confirmed commissioner at the CFTC while the SEC is operating with three Republican commissioners after no new nominations were announced by US President Donald Trump.