The SEC and the Department of Justice's antitrust division said Monday they have joined forces to enhance competition in the securities industry.
While the two enforcement agencies have already been working together in recent years, this first memorandum of understanding between the two should "foster even greater collaboration and cooperation," SEC Chairman Jay Clayton said Monday at an equity market structure conference hosted by Massachusetts Institute of Technology.
Assistant Attorney General Makan Delrahim said in a statement that the memorandum "institutionalizes a strong working relationship between our two agencies. I expect that it will lead to even more robust, comprehensive analyses incorporating both competition and securities laws concerns, resulting in stronger, healthier markets yielding enhanced consumer benefits."
The memorandum establishes a framework for regular discussions and review of law enforcement and regulatory matters, and the exchange of information and expertise potentially relevant to their respective oversight and enforcement responsibilities.
