During the 2008-09 financial crisis, the Group of 20 (G20) began to meet at the “Heads of State” level to formulate and implement emergency policy responses, on the one hand, and build consensus on the longer-term reforms required in the international financial system, on the other. Since then, the US and the European Union have been overhauling their own financial regulatory frameworks in parallel processes as well as working on regulatory frameworks in the context of G20 meetings where representatives of the US and five European governments and the EU hold seats. This study examines the question: What are the key issues regarding financial regulation on which transatlantic cooperation (or lack of it) could have an impact?

The paper is also available at the Center of Concern website at www.coc.org/node/6689

June 6, 2011.