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April 21, 2005

Hands Across the Atlantic Ocean

By Staff Reports

Identify regulatory inefficiencies in transatlantic equities and equities derivatives trading, and possibly make recommendations about how they can be reduced or eliminated. Those are a few of the goals of a group working on a project to find a more effective transatlantic regulatory model.

The recommendations of the project are expected this summer. They will be sent to both American and European Union constituents. Project participants will look for regulatory duplications as well as needless costs.

A group of securities attorneys will compare licensing and business conduct rules on both sides of the ocean. Now regulatory rules are usually determined by geography. But, given the global nature of trading, that approach must change, said officials of the various groups participating in the project. Among the groups sponsoring the project are the European Union's Futures and Options Association.