The European Commission and EU governments hold regular talks on financial regulation with the USA and other international partners. The goals of these talks are

  • monitoring regulatory developments
  • identifying potential spill-over effects of legislation in each other’s jurisdictions
  • converging towards international standards – taking into account the specific features of different regulatory frameworks and legal backgrounds
  • exploring possibilities of mutual recognition of standards
  • coordinating the implementation of the G20 roadmap

Regulatory dialogues with Canada in the CETA Financial Services Committee

Under the Comprehensive Economic and Trade Agreement (CETA) between the EU and Canada, a specific Financial Services Committee has been set up to discuss market developments as well as regulatory and policy developments in the area of banking and capital markets.

19 June 2018 – First meeting of the CETA Financial Services Committee

Regulatory dialogues with the USA

22 January 2018

EU-US Financial Regulatory Forum – Joint statement

6 April 2017

EU-US Financial Regulatory Forum – Joint statement (200.78 KB - PDF)

25 July 2016

EU-US Financial Regulatory Forum – Joint statement (PDF, 214 KB)

19 July 2016

Improvements in US-EU regulatory cooperation – Joint statement (PDF, 143 KB)

18 July 2016

Upgrade of EU-US financial regulatory cooperation: the ‘EU-US Financial Markets Regulatory Dialogue’ is renamed as ‘Joint EU-US Financial Regulatory Forum’

12 February 2016

EU-US Financial Markets Regulatory Dialogue – Joint statement (PDF, 157 KB)

23 September 2015

EU-US Financial Markets Regulatory Dialogue – Joint statement – September 2015 (PDF, 144 KB)

15 January 2015

EU-US Financial Markets Regulatory Dialogue – Joint statement – January 2015 (PDF, 141 KB)

11 July 2014

EU-US Financial Markets Regulatory Dialogue – Joint statement – July 2014 (PDF, 146 KB)

30 January 2014

EU-US Financial Markets Regulatory Dialogue – Joint statement – January 2014 (PDF, 75 KB)

11 May 2010

Speech by Commissioner Michel Barnier, Washington, “Building a new financial framework together” – May 2010

September 2009

Note from the European Commission to the Financial Services Committee on Regulatory Dialogues – September 2009 (PDF, 41 KB)

2008

EU-SEC statement on mutual recognition in securities markets – 2008

Regulatory dialogues with Switzerland

19 October 2017

EU-Switzerland Financial Regulatory Dialogue – Joint statement (PDF, 78 KB)

High-level meetings with Japan

3 October 2017

EU-Japan high-level meeting on financial issues – Joint statement (PDF, 18 KB)

20 January 2016

EU-Japan high-level meeting on financial issues – Joint statement (PDF, 29 KB)

28 March 2014

EU-Japan High Level Meeting on Financial Issues – Joint statement – March 2014

EU-Asia-Pacific Forum on Financial Regulation

14 October 2016

EU-Asia-Pacific Forum on Financial Regulation

Bilateral relations on insurance

EU-US dialogue on insurance

27 March 2018

First joint committee meeting under the bilateral agreement between the European Union and the United States of America on prudential measures regarding insurance and reinsurance

7 November 2017

Notice concerning the provisional application of the bilateral agreement between the EU and the USA on insurance and reinsurance

22 September 2017

EU and US sign the bilateral agreement on insurance and reinsurance

14 July 2017

EU and US announce their readiness to sign the bilateral agreement on insurance and reinsurance - Joint statement (PDF, 13 KB)

4 April 2017

Commission adopts proposals on the conclusion and signing of the EU-US Bilateral agreement on insurance and reinsurance

16 January 2017

Commission welcomes the successful conclusion of negotiations on an EU/US Agreement on insurance and reinsurance

23 December 2016

EU-US negotiations for a bilateral agreement on insurance and reinsurance measures – Joint statement – 23 December 2016 (PDF, 71 KB)

12 December 2016

EU-US negotiations for a bilateral agreement on insurance and reinsurance measures – Joint statement – December 2016 (PDF, 4 KB)

7 November 2016

EU-US negotiations for a bilateral agreement on insurance and reinsurance measures – Joint statement – November 2016 (PDF, 86 KB)

27 September 2016

EU-US negotiations for a bilateral agreement on insurance and reinsurance measures – Joint statement – September 2016 (PDF, 85 KB)

28 July 2016

EU-US negotiations for a bilateral agreement on insurance and reinsurance measures – Joint statement – July 2016 (PDF, 250 KB)

27 May 2016

EU-US negotiations for a bilateral agreement on insurance and reinsurance measures – Joint statement – May 2016 (PDF, 183 KB)

23 February 2016

EU-US negotiations for a bilateral agreement on insurance and reinsurance measures – Joint statement – February 2016 (PDF, 179 KB)

July 2014

EU-US Insurance project: the way forward (PDF, 94 KB)

EU-Switzerland agreement on non-life insurance

In 1991 the European Economic Community and the Swiss Confederation concluded an agreement on non-life insurance.

The agreement allows branches of EU non-life insurance companies established in Switzerland and Swiss non-life insurance branches in the EU to follow a limited number of prudential rules of the home jurisdiction, supervised by the home supervisor, in particular as regards the calculation of their solvency capital requirement. 

  • Agreement between the European Economic Community and the Swiss Confederation on direct insurance other than life assurance
  • Decision 91/370/EEC - Conclusion of the agreement between the EEC and the Swiss Confederation
  • Directive 91/371/EEC – Implementation of the agreement between the EEC and the Swiss Confederation
  • Council Regulation (EEC) No 2155/91 - Particular provisions for the application of Articles 37, 39 and 40 of the agreement between the EEC and the Swiss Confederation
  • EC-Switzerland Joint Committee Decision No 1/2001 amending annexes and protocols

Bilateral dialogues on capital movements

In its bilateral relations, the EU uses investment dialogues and trade agreements to promote open investments and free capital movements.

Investment dialogues allow both sides to raise concerns about investment conditions in the other country and seek solutions to promote mutually beneficial investment flows.

The EU has also negotiated and continues to negotiate several bilateral trade agreements. These agreements usually cover capital movements and payments, with provisions ensuring that

  • payment operations remain unrestricted
  • transactions related to direct investment remain unrestricted
  • temporary safeguard measures are only possible in the case of serious difficulties for the operation of monetary and exchange rate policy

Read more on the dedicated site of the European Commission.

Negotiations with EU candidate countries

Countries looking to join the EU have to demonstrate that they will be able to comply with all the EU standards and rules.

During the negotiations for a country to join the EU, the European Commission analyses each policy area in detail to determine how well the country is prepared to implement the body of EU law. This analysis covers both financial services and free movement of capital.

  • the EU law for financial services that needs to be implemented in candidate countries includes rules for the authorisation, operation and supervision of financial institutions in the area of banking, insurance, occupational pensions, investment services and securities markets
  • concerning capital movements , candidate countries must adapt their laws and institutions to guarantee the freedom of all categories of capital transactions, as listed in Annex I of Directive 88/361/EEC. EU rules in the area of capital movements are based on the Treaty on the functioning of the EU, in particular articles 63-66, and are directly applicable

Read more on the enlargement website.