I tip my hat to Securities Docket for highlighting this Bloomberg article which describes ongoing discussions about the CFTC moving into the same Station Place office complex where the SEC is located. These discussions have involved the GSA, and the move would not take place until 2027. The article notes that, despite the potential for moving in together, the agencies are not planning to tie the knot:

The CFTC’s potential relocation highlights the continued realignment between the sister agencies, but their leadership insists there are no plans to consolidate into one. SEC Chairman Paul Atkins and CFTC Chairman Michael Selig, who until late last year worked for Atkins as the chief counsel on the agency’s crypto task force, are looking to eliminate duplicative regulations.

“It makes sense to have two separate regulators but what doesn’t make sense, and what Chairman Atkins and I have been very clear on, is the lack of coordination between the agencies,” Selig said in an interview last month with Bloomberg’s Odd Lots podcast. “We need to harmonize the two regimes to make sure that there’s not inconsistent and incompatible rules and that there’s not gaps.”

Unlike many countries that have one primary regulator for financial markets, in the US the SEC oversees stock and bond activities while the CFTC regulates derivatives trading.

The notion of combining the agencies has been kicked around since the 2008 financial crisis but their distinct regulatory missions and political obstacles have made that consolidation untenable.

The SEC’s home since 2005, Station Place is the largest private office building development in Washington, DC. The office complex is located next to (and is connected with) Union Station, which offers convenience for those commuting by train or Metro. I can recall moving into Station Place when I was at the SEC, and it was quite an upgrade from the SEC’s old headquarters at 450 Fifth Street, NW. The highlight for me at the time was that Marty Dunn placed the Office of Chief Counsel on a side of the building that overlooked the Union Station rail yard, so as I train buff I had endless entertainment watching the comings and goings of trains all day long.

– Dave Lynn