TheCorporateCounsel.net

Yesterday, the SEC announced that it had entered into a Memorandum of Understanding with the FDA “designed to assist the agencies in carrying out their respective missions of ensuring the integrity of the financial markets and protecting public health.” Here’s an excerpt from the SEC’s press release:

The MOU establishes a framework for the agencies to enhance cooperation in their regulatory and enforcement responsibilities in order to improve market oversight and compliance. Among other things, the MOU includes information-sharing protocols to facilitate the exchange of information between the SEC and FDA that is relevant to both agencies’ important missions.

“FDA-related disclosures by public companies have a significant impact on our markets,” said SEC Chairman Paul S. Atkins. “The FDA is a valuable partner in our efforts to administer and enforce applicable disclosure requirements under the federal securities laws, and I look forward to further strengthening our partnership through the MOU.”

The MOU will remain in effect for three years and may be extended by the agencies.

– John Jenkins