The Securities Industry and Financial Markets Association (SIFMA) covered the Global Business and Economics Program’s Dangers of Divergence: Transatlantic Financial Reform & the G20 Agenda event.
On Tuesday, the Atlantic Council, TheCityUK, and Thomson Reuters held an event, Dangers of Divergence: Transatlantic Financial Reform & the G20 Agenda, where panelists, including European and U.S. officials, discussed ongoing transatlantic financial reform efforts and the potential dangers associated with regulatory divergence between the U.S. and EU on cross-border regulatory issues including over-the-counter (OTC) derivatives reforms, Basel III implementation, the Federal Reserve’s foreign banking organizations (FBO) proposal , and resolution authority.
The event came less than 24 hours after the Atlantic Council released its second Dangers of Divergence report which examined EU-U.S. cooperation on financial regulation, the “salient differences” in regulatory approaches, and offered suggestions on how to improve coordination between the two economic powerhouses.