SIFMA Writes Letter to USTR on Importance of Comprehensive TTIP (with Lofchie Comment)

In its letter to U.S. Trade Representative Michael Froman, SIFMA expressed its support for a comprehensive Transatlantic Trade and Investment Partnership ("TTIP") that addresses both market access and regulatory differences for all sectors.

SIFMA explained that, together with the European Commission, it must explore the creation of a framework to enhance financial services regulatory coordination and consistency within TTIP in a way that does not undermine the reforms that have already occurred in the United States and Europe.

Lofchie Comment: Discussions between the various governments and regulators will provide a method for the CFTC to reconsider and amend its interpretative guidance on international transactions, and a regulatory structure that (whether it is called "guidance" or a "rule") requires its reconsideration and amendment. It will also serve to reconcile that guidance with the requirements of the SEC and various non-U.S. regulators.

See: SIFMA Letter to Ambassador Froman.Related news: SIFMA Writes to Treasury Secretary Lew about the Importance of Including Financial Services in TTIP (with Lofchie Comment) (September 29, 2014).