US and EU participants in the Financial Markets Regulatory Dialogue (FMRD) have met to exchange views on financial regulatory developments as part of their ongoing dialogue. At this meeting, the following recent achievements were highlighted:
- facilitating the EU equivalence determination processes in different sectors;
- launching the US-EU insurance covered agreement negotiations process to address US reinsurance collateral rules and Solvency 2 issues; and
- improving audit oversight for firms performing cross-border work.