Financial Regulation and TTIP – Material
TTIP will not only affect trade in goods it is also meant to further de-regulate financial markets and services. In particular the European Commission is pushing to further open the access of lobbies to the regulatory agenda on finance which risks undermining existing regulations on both sides of the atlantic – in some cases regulations that were only set up after the financial crisis of 2008. This is even more of a problem considering that the re-regulation of the financial system post-crisis is far from completed. Below you will find some key ressources on TTIP and financial regulation.
For more information and news on these issues check out the TTIP & Finance section on bilaterals.org
Understanding Finance #2 – Financial services in TTIP? (Finance Watch, March 2014)
In this lengthy report from Finance Watch you will some key arguments on TTIP and financial deregulation within TTIP. The report is available in EN, FR and DE
TTIP Negotiations and Financial Services. Issues and Problems for Financial Services Regulation (SOMO, March 2013)
Another comprehensive report on TTIP and Financial Services by Centre for Research on Multinational Corporations (SOMO). This document provides an overview of the issues at stake and a preliminary assessment of the potential impacts of the TTIP on financial sector regulation and financial stability.
Leaked document shows EU is going for a trade deal that will weaken financial regulation (CEO/SOMO, July 2014)
Analysis of the leaked proposal of the EU for regulatory cooperation on financial regulation by Corporate Europe Observatory (CEO) and Centre for Research on Multinational Corporations (SOMO).
TTIP and regulatory cooperation: Benefits and costs in the financial services sector (SOMO, 8 pages, March 2015)
Speaking notes for the expert meeting “TTIP, Trade and Regulatory Cooperation” organised by GUE/NGL at the European Parliament, 5 March 2015
Regulatory cooperation in TTIP: conference on regulatory cooperation organised by the European Economic and Social Council (July 2015, Statement by Finance Watch)
This short statement gives an overview of the key risks and issues raised by the introduction of a regulatory cooperation mechanism in a free trade agreement such as the TTIP when it comes to financial regulation.
Analysis of data and documents on hundreds of ISDS cases filed so far reveals that foreign investors have already sued at least 24 countries from India to Romania over tax-related disputes – including several cases where companies have used this system to successfully challenge – and lower – their tax bills. If passed, TTIP along with the proposed Trans-Pacific Partnership (TPP) deal between the US and countries in the Asia-Pacific region, would dramatically expand the global reach of the ISDS system.