As the EU appears to be adopting a looser regulatory stance,
Commission has indicated renewed support for its universal
banks. US market participants are concerned about a potential
competitive advantage and counsel see clashes ahead.
In recent years, the EU has seemingly moved towards a
lighter touch, both in terms of implementing existing rules and
in policymakers’ attitude to future rule writing.
it became clear the Markets in Financial Infrastructure
Directive (Mifid II) was to be delayed. There is also a
slower pace of implementation.
This month, the EU announced a three-month delay in
collateral rules, whereas for the biggest US banks to comply
the deadline remains September 1. None of the above is a clear
cut European break from global regulatory standards, although a
growing trend is clear.
EU policymakers are under pressure to produce
growth For Europeans, the most pressing issue is