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US-EU Regulatory Convergence: Capital Markets Issues Mario Draghi Robert Pozen Download the Paper (PDF format) - October 29, 2003 Tell a colleague about it. Printing Tips: Select 'print as image' in the Acrobat print dialog if you have trouble printing. ABSTRACT: The U.S. and the E.U. are the two most important areas in terms of capital raising and securities trading, so together they constitute the "G-2" of the capital markets. Through informal leadership, the G-2 can help resolve some important regulatory issues between the U.S. and the E.U. while providing precedents for the global capital markets. The key issues in the U.S. include: reconciliation of accounting systems, extraterritorial application of Sarbanes-Oxley, and U.S. access to E.U. trading screens. The key issues in the E.U. include: E.U. restrictions on pension management, differential treatment of financial conglomerates, and no uniform E.U. rules on takeovers. SUGGESTED CITATION: Mario Draghi and Robert Pozen, "US-EU Regulatory Convergence: Capital Markets Issues" (October 29, 2003). Harvard Law School. Harvard Law School John M. Olin Center for Law, Economics and Business Discussion Paper Series. Paper 444. http://lsr.nellco.org/harvard/olin/papers/444 | REPOSITORY HOME  | SEARCH  | MY ACCOUNT  | NELLCO HOME | Powered by bepress.