As Part of EU-US Trade Deal the European Commission Proposes Framework for Regulatory Cooperation in Financial Services

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On January 27, the European Commission published a report setting out a proposal for a framework for regulatory cooperation in financial services in the context of negotiations for an EU-US trade deal, known as the Transatlantic Trade and Investment Partnership (TTIP).

The EU intends to establish, within the TTIP framework, a process by which the EU and the United States are committed to working together towards strengthening financial stability. This cooperation would be based on a number of principles, backed by specific arrangements for the governance of the EU-US regulatory cooperation, guidelines on equivalence assessments and commitments to exchange necessary and appropriate data between regulators. Report.

 

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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