EU-US Coalition Calls for Regulatory Recognition and Accreditation

In a report, the EU-US Coalition of Financial Regulation (which is largely a coalition of financial industry trade associations) reaffirmed the need for regulators on both sides of the Atlantic to not engage in regulatory protectionism. The report states both sides must come together with real intent to establish a framework of inter-jurisdictional regulatory recognition and accreditation. The need to resume the pre-crisis dialogue for establishing a this framework was the motivation for the Coalition commissioning this report. It explains how even though overarching legal systems, market practices and regulatory priorities of the EU and the US may conflict, there is a common foundation between their regulatory policies, objectives, standards and outcomes.

(While the report may be well-written and reasoned, it is not clear how much reason there is for optimism as to international co-ordination or even, given the very full plate of some of the regulators, how much energy or resources they wish to expend on issues of international comity.)

View report in full here (links externally to FIA website).