EU's Barnier urges U.S. to stick with global rules

02/17/2013 | Bloomberg · Reuters

U.S. regulators should adhere to international rules governing derivatives and bank stability, EU Internal Market Commissioner Michel Barnier says. "Expanding interpretation of homegrown rules to transactions that are already covered by equally solid foreign rules will only lead to legal conflicts," Barnier said in reference to derivatives rules. "It will create uncertainty, increase costs and push trade to less-well-regulated places. This is precisely what we want to avoid."

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Bloomberg · Reuters

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