The Securities and Exchange Commission (SEC) and the Food and Drug Administration (FDA) recently entered into a memorandum of understanding that will facilitate the exchange of information regarding FDA-regulated products and activities
The collaboration was designed to assist the agencies in carrying out their respective missions of ensuring the integrity of the financial markets and protecting public health. It establishes a framework for the agencies to support their regulatory and enforcement responsibilities with the goal of improving market oversight and compliance. It also includes information-sharing protocols.
The agreement is expected to improve the effectiveness of the agencies’ oversight and compliance efforts, assist the agencies in making informed decisions, and ensure that information relevant to public health and the integrity of financial markets is shared in accordance with applicable laws and policies.
“Streamlining our information-sharing helps protect both the patients who rely on FDA-regulated products and the public trust that drives healthcare innovation,” Acting FDA Commissioner Kyle Diamantas said.
“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,” SEC Chairman Paul Atkins said.
The agreement is for three years, but can be extended or modified.