EU oversight of US clearinghouses to be 'coordinated and cooperative,' Dombrovskis says

12 April 2019 9:05pm
The EU will approach post-Brexit oversight of US derivative clearinghouses in London “in a coordinated and cooperative manner,” European Commission Vice President Valdis Dombrovskis said.

“It’s clear that finance is global, and we need a globally coordinated response,” he said at an event* today in Washington.

Dombrovskis cited a joint statement last month in which the EU agreed to seek public input on effecting a new law providing for post-Brexit EU oversight of clearinghouses based outside the bloc.