Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

U.S.-EU Derivatives Spat Not Part of Trade Talks: Froman

Sept. 30 (Bloomberg) -- U.S. Trade Representative Michael Froman said negotiations with the European Union on derivatives regulation are taking place outside the context of talks on a transatlantic free-trade agreement.

EU financial-services chief Michel Barnier said on Sept. 13 that the U.S. needs to ease the burden its new rules will place on European firms. Froman told reporters in Brussels today that the negotiations involve the European Commission, the U.S. Commodity Futures Trading Commission and the International Organization of Securities Commissions.

Froman said the U.S.-EU trade talks would include financial services in the context of market access. He declined to give examples of specific issues that would be in play, and said that issues like the derivatives rules would be handled “in parallel and on the side of the negotiations” via two-party and global discussions.

“There’s a good example where there’s been a lot of interaction directly between the CFTC, the commission, Iosco and other authorities, and those issues are getting worked out in that context,” Froman said when asked if derivatives would play a role in upcoming free-trade talks.

To contact the reporter on this story: Rebecca Christie in Brussels at rchristie4@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.