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No reset in sight for EU-US financial services cooperation 

November 2, 2015

Coen ter Wal, Global Risk Insights

Last month a US government delegation once again made its way to Brussels for the semiannual shouting match with the European Commission over transatlantic financial sector regulation: the Financial Markets Regulatory Dialogue (FMRD).

British author Rebecca West once said that “true conversations do not exist, only intersecting monologues.” This is certainly a good description of the Financial Market Regulatory Dialogues (FMRDs) between the United States and the European Commission over the past few years.

One might expect these meetings, where the US and EU discuss financial regulation on both sides of the Atlantic, to be civilized and somewhat boring, technical occasions. In recent years, however, they have often descended into shouting matches.

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