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International cooperation on financial regulation and capital movements

The EU works with its international partners to develop consistent policies on the regulation of financial markets and capital movements.

A global financial market

In an increasingly globalised world market, national and international authorities have to work together to develop effective policies for regulating and supervising financial markets.

In particular, the recent financial crisis has emphasised the global interdependence of financial markets and the need for international cooperation.

The 2008 G20 summit in Washington agreed on a common roadmap for financial regulatory reform in order to tackle the global financial crisis and to ensure a level playing field. The G20 also committed itself to fight against protectionism and to refrain from raising barriers to investment.

The role of the Commission

Since the 2008 G20 summit, the intensity of international cooperation on financial regulation has increased and the EU has played a key role in this process.

The European Commission is working with its international partners to develop a consistent policy on the regulation of financial markets and capital movements, in particular by

The Commission also works on the assessment and recognition of foreign regulatory frameworks in order to promote convergence with non-EU countries.

Most EU laws on financial regulation adopted in recent years include provisions that make it possible for the Commission to adopt equivalence decisions. These decisions recognise that the regulatory or supervisory regime of a certain non-EU country is equivalent to the corresponding EU framework.