Harmonizing The Divide: SEC And CFTC Request Comment On Derivatives Jurisdiction And Definitions

WHAT YOU NEED TO KNOW:

• The SEC and CFTC are seeking comment on fifteen questions related to Title VII of Dodd-Frank, which divides authority over swaps markets between the two agencies.
• The questions are divided into two sections: one section focused on definitional clarity and another section focused on alternative compliance.
• The RFC provides an opportunity for market participants to help clarify the jurisdictional divide between the SEC and CFTC and to suggest opportunities for harmonization and increased efficiency.

On June 18, 2026, the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC; together with the SEC, the Commissions) issued a joint request for comment (RFC) on “potential opportunities to further update, clarify and harmonize certain derivatives product definitions and interpretive issues.”¹ The RFC is focused on Title VII of the Dodd-Frank Wall Street Reform Act, which divides jurisdiction over swaps markets between the SEC