Commentary: Despite Reprieve, U.S. Congress Should Resist the Pull of EU Financial Regulations | Best Countries | US News

CONGRESS HAS ORDERED A review of the implications of adopting European Union-style policies in U.S. capital markets – and rightfully so. Many U.S. firms shadow European rules as they try to operate on either side of the Atlantic, and pressure is growing on the

Securities and Exchange Commission to adopt many of the rules formulated in Brussels.

The SEC recently granted Wall Street a three-year reprieve from having to choose which side of the Atlantic their loyalties lie. For its part, it said it needs more time to evaluate how these rules will affect the US brokerage industry. The decision means U.S. securities firms can follow both American and European regulations until 2023, without the prospect of being sued by U.S. regulators.

via Commentary: Despite Reprieve, U.S. Congress Should Resist the Pull of EU Financial Regulations | Best Countries | US News.