SEC backs CFTC in dispute over stock perpetual derivatives
The U.S. Securities and Exchange Commission has filed a court brief supporting the Commodity Futures Trading Commission in a legal dispute over whether the CFTC can approve perpetual derivatives tied to individual U.S. stocks.
The Capital Markets Alliance, whose members include Cboe and Citadel Securities, sued the CFTC last week, arguing that these products fall under SEC jurisdiction and asking a court to overturn their approvals.
The SEC rejected claims that the CFTC had acted without its involvement, saying the two agencies regularly coordinate on oversight.
The U.S. Securities and Exchange Commission has filed a court brief supporting the Commodity Futures Trading Commission in a legal dispute over whether the CFTC can approve perpetual derivatives tied to individual U.S. stocks.
The Capital Markets Alliance, whose members include Cboe and Citadel Securities, sued the CFTC last week, arguing that these products fall under SEC jurisdiction and asking a court to overturn their approvals.
The SEC rejected claims that the CFTC had acted without its involvement, saying the two agencies regularly coordinate on oversight.