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ARTICLE · 22 OCTOBER 2025

Navigating New Regulatory Harmonization Efforts Between The SEC And CFTC

Alvarez & Marsal
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The US Securities and Exchange Commission (SEC) and US Commodity Futures Trading Commission (CFTC) hosted the Joint Roundtable...

United StatesFinance and Banking
Jeremy Cusimano
Jeremy Cusimano
Emily Cech
Emily Cech
Sarah Fearon-Maradey
Sarah Fearon-Maradey

How are disparities in SEC and CFTC regulatory regimes impacting innovation in financial markets, and what are the regulators' plans to improve collaboration?

SEC-CFTC Joint Roundtable Discussion on Regulatory Harmonization

The US Securities and Exchange Commission (SEC) and US Commodity Futures Trading Commission (CFTC) hosted the Joint Roundtable on Regulatory Harmonization Efforts (the Roundtable) on September 29, 2025, the first such session in nearly 15 years. 1 SEC Chairman Atkins and Acting CFTC Chairwoman Pham explained in a joint statement that the catalyst for holding the Roundtable was to reverse the “fragmented oversight and legal uncertainty” that was pushing companies to pursue the launch of novel products overseas and to reestablish America as the “home of financial innovation.” 2 The joint statement also outlined potential areas of focus for the Roundtable discussion including 24/7 markets, event contracts, perpetual contracts, portfolio margining,

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