EU-US Financial Market Dialogue:
the cooperative approach gains steam
Introduction
Global financial markets are facing a serious test. Increasing transatlantic economic integration through valuable instruments, such as the Financial Markets Regulatory Dialogue, is playing a key part in delivering competitiveness, efficiency and growth to transatlantic markets. However, more needs to be done at the political level to ensure a framework able to create financial efficiency and stability both for Europe and the US in the years ahead. The establishment of the Transatlantic Economic Council (TEC) last April is a case in point of the needed political underpinning to transatlantic integration. On a technical level, acceptance of US GAAP equivalence, progress in regulatory recognition in the area of securities and Basel II implementation are areas, among others, where 2008 may bring important developments. For further information please refer to our Briefing Paper.
