SIFMA Submits Comments to the U.S. Trade Representative on Promoting U.S.-EC Regulatory Compatibility (with Lofchie Comment)

SIFMA submitted the attached comments to the U.S. Trade Representative ("USTR") on promoting U.S.-European Commission ("EC") regulatory compatibility. SIFMA stated that it supports the goals shared by the U.S. Government and the EC to reduce (i) excessive regulatory costs, (ii) unjustified regulatory differences, and (iii) unnecessary red tape. SIFMA urges more work to be done to further ensure the compatibility of U.S. and EC financial reforms "both in substance and extraterritorial application."

Lofchie Comment: Another potential avenue to raise the problems of cross-border swaps regulation.

Click here to view comment letter in full (links externally to SIFMA website).Click here to link to the Federal Register notice on which SIFMA was commenting (links externally to government website).