SEC and FDA Announce MOU to Bolster Cooperation and Ensure Market Integrity

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The U.S. Securities and Exchange Commission announced that it and the Food and Drug Administration entered into a Memorandum of Understanding (MOU) designed to assist the agencies in carrying out their respective missions of ensuring the integrity of the financial markets and protecting public health, establishing a framework to enhance cooperation in regulatory and enforcement responsibilities and improve market oversight and compliance, including information-sharing protocols between the SEC and FDA. SEC Chairman Paul S. Atkins stated that FDA-related disclosures by public companies have a significant impact on markets and that the FDA is a valuable partner in administering and enforcing disclosure requirements under federal securities laws. Acting FDA Commissioner Kyle Diamantras J.D. stated that the partnership enhances transparency across the life sciences sector and that streamlining information-sharing helps protect patients and public trust. The document states the MOU will remain in effect for a period of three years, and may be extended or modified by the mutual written consent of the agencies.

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