The Securities and Exchange Commission (SEC) has shared the full agenda for its joint meeting with Commodity Futures Trading Commission (CFTC) which is scheduled for September 29.
The joint roundtable, to be held at the SEC’s headquarters in Washington, D.C., will be broadcast live on the SEC website and will focus on answering the questions about where the line between securities and commodities falls. This would help the two agencies clarify their rules and decide how to manage shared responsibilities.
What’s on the agenda?
According to the press release, the program will begin at 1 p.m. with opening remarks from SEC Chair Paul Atkins, CFTC Acting Chair Caroline Pham, and SEC Commissioner Caroline Crenshaw.
The first panel, “How We Got Here,” will explore the history of both agencies working together. Former CFTC Chairman J. Christopher Giancarlo will moderate, with panelists including Kenneth Bentsen Jr. of SIFMA, Craig Lewis of Vanderbilt University, Scott Litvinoff of Interactive Brokers, Walt Lukken of FIA, Scott O’Malia of ISDA, and Jim Overdahl of Delta Strategy Group.
At 2:10 p.m., this second panel will begin. This session will discuss trading platforms, and better rules for them that can help them grow while keeping investors safe.
Moderators Jill Sommers, a former CFTC Commissioner, and Jamie Selway, SEC Director of Trading and Markets, will lead the session with with Shayne Coplan of Polymarket, Craig Donohue of Cboe Global Markets, Terrence Duffy of CME Group, Adena Friedman of Nasdaq, Tarek Mansour of Kalshi, Arjun Sethi of Kraken, Jeffrey Sprecher of Intercontinental Exchange, and Don Wilson of DRW Holdings. SEC Commissioner Mark Uyeda will follow with remarks at 3:25 p.m.
After a short break, the third panel, “Participants,” will begin at 4 p.m. and will look at how some common rules give investors more choices and lower their costs. For this part, Moderators Giancarlo and former SEC Commissioner Troy Paredes will guide a discussion on it.
Panelists include Stephen Berger of Citadel, Ryan Louvar of WisdomTree, Nick Lundgren of Crypto.com, JB Mackenzie of Robinhood Markets, Dave Olsen of Jump Trading Group, Sonali Theisen of Bank of America, and Brad Tulley of J.P. Morgan. Closing remarks at 5:20 p.m. will come from SEC Commissioner Hester Peirce.
Atkins clears the air
Meanwhile, in another report, SEC Chair Paul Atkins has denied reports that he could step in as CFTC Chair. “Thanks but no thanks,” Atkins said in an interview. He said he wants to focus on cooperation between the two agencies, rather than taking on another role.
“The Howey test is very vague,” he added. He also criticized the decades-old method of determining what counts as a security. “It’s a ‘you know it when you see it’ problem. Guidance from Congress would be very helpful.” He also said the SEC should not become the “Securities and Everything Commission.”
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