Commission VP calls on EU and US to co-operate on financial rulemaking

Günter Verheugen, vice-president of the European Commission responsible for enterprise and industry, has said that “a structured, institutional dialogue between the European Parliament and the US Congress” should be set up to ensure commonality in legislating the finance industry.

Speaking at a meeting with European Parliament and US representatives, Verheugen said: “Just as our regulators need to communicate to anticipate possible divergences in their rulemaking pipeline, legislators on both sides of the Atlantic need to know what legislation is being prepared on either side. An intensive transatlantic dialogue among legislators is essential for further economic integration.”

Verheugen said legislators responsible for rule-making in areas such as the financial markets

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