ESMA gets more time to determine EU-US equivalency

06/16/2013 | Reuters

The European Commission has delayed until 1 September a decision on whether US derivatives rules match EU ones. If the European Securities and Markets Authority were to conclude that US and EU rules are not "equivalent", US companies doing business in Europe would have to abide by both sets of rules, which would be costly. The postponement allows the two sides to talk more about eliminating overlap.

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