If the CFTC also gives effective equivalence to third-country clearinghouses, deferring to strong and rigorous rules and jurisdiction such as the EU, we will be able to adopt equivalence decisions very soon. In other words, we will treat you as you treat us.
Barnier emphasizes the importance of regulatory equivalence between the EU and CFTC.
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It is not acceptable that U.S. rules have such a wide effect on other nations and foreign capital markets without any international coordination.
We are in a much more dangerous, unstable, fragile world, and we need to keep our assets and keep our unity.
There is no aggression, no spirit of revenge with the UK, but the UK must understand that it will not be possible to unravel or to fragilise the single market.
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