The Financial Services Forum (FSF), the Financial Services Roundtable (FSR), the Institute of International Finance (IIF) and the Securities Industry and Financial Markets Association (SIFMA) issued the following statement on the next round of negotiations of the Transatlantic Trade and Investment Partnership (TTIP) currently underway in Brussels:
"As the next round of trade negotiations moves forward, the financial services industry reiterates its position that it is imperative to include financial services regulatory coordination as a key component of TTIP. With a global economy and intertwined financial markets, the financial sector cannot continue to work under misaligned, uncoordinated regulatory regimes. A framework for coordination of financial services regulation between the US and EU would reduce conflict and complexity, and improve the efficiency of regulations across borders to the benefit of market participants, their customers and regulators. We urge negotiators to capitalize on this TTIP meeting in Brussels to promote high-quality regulatory standards that promote consistency, coordination, and resilience in our transatlantic markets."