The Commissioner for Financial Services, Valdis Dombrovskis, has warned the United States of consequences for the access of American financial institutions to the European market in the event that the financial and banking prudential rules are watered down in the US as a result of the announced re-examination of the American Dodd-Frank Act.
“On the review of the Dodd-Frank Act, there is a need to see the practical outcomes of the review. The decisions on equivalence are based on the...