Steven Maijoor, chairman of the European Securities and Markets Authority, said he is concerned about regulatory differences between Europe and the U.S., as well as other regions, but regulators are dealing with such challenges. "Countries are coming at this from different legal systems and with different financial markets, so it would be hubris to say there may not be problems in terms of regulatory competition," Maijoor said. However, he noted that the Group of 20 nations and the Financial Stability Board are monitoring regulatory developments worldwide.

Related Summaries