NSC on Financial Services Sector Inclusion in TTIP

SIFMA and nine other associations provide comments to the National Security Council (NSC) supporting the Transatlantic Trade and Investment Partnership (TTIP). For the financial services sector, the groups stress the TTIP should include conventional market access rules, as well as mechanisms and processes to achieve sound, efficient, compatible, and cost-effective regulatory frameworks that facilitate access to capital and boost economic growth.  There is common agreement among regulators, trade negotiators, and industry about the inclusion of traditional financial services trade and investment provisions in the TTIP. However, it concerns the group that U.S. authorities appear to be reluctant to embrace the regulatory cooperation elements of the TTIP for financial services, despite the fact that they will likely be extended to virtually every other sector of the economy.

SIFMA co-signed this letter with the American Council of Life Insurers (ACLI), the American Insurance Association (AIA), Coalition of Service Industries, The Financial Services Roundtable (FSR), Financial Services Forum (FSF), National Foreign Trade Council, Property Casualty Insurers Association of America, United States Council for International Business and the U.S. Chamber of Commerce.