Barnier scrutinises US regulatory reforms

04/11/2013 | Bloomberg Businessweek

Michel Barnier, the EU internal-market commissioner, is voicing concerns about financial-regulatory reforms in the US. "It would be particularly damaging if the US authorities started a trend of regulation based on an approach that does not recognise the capital and liquidity requirements imposed in other jurisdictions on the basis of global standards, and did not rely on the supervisory activity there," Barnier says in an article. "It would be a great concern if duplicative rules were imposed in isolation as it would start a process of costly replication worldwide, leading to capital and regulatory fragmentation."

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