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The third annual Europe-U.S. Symposium took place at the Bundesbank training center, overlooking the Rhine River. This location proved a fitting location to discuss the implications of regulatory differences between Europe and the United States. That section of the Rhine is dotted with a picturesque series of towers, which are all that remain of a cumbersome network of tolls that local governments of an earlier era levied on river commerce. Each government was attempting to regulate commerce within its own borders, in its own interests, but with little regard for the cross-border impact of its actions. The consequence was a heavy drag on river commerce that undoubtedly reduced rates of economic growth and lowered standards of living. This tension between the needs of national regulators and supervisors and the needs of cross-border business was echoed throughout this meeting. The Symposium focused on three sources of regulatory differences between the European Union and the United States: (1) differences in the implementation of ...more...
• Basel II: The Implementation of Basel II
• International Financial Reporting Standards: The Use of U.S. GAAP in the EU and the Use of IFRS in the U.S.
• Market Structure: Trans-Atlantic Trading of Securities
• Suzanne Nora Johnson, Vice Chairman, Goldman Sachs
• Philippe Lagayette, General Manager, Chairman of the Management Committee, JPMorgan Paris
• Randal K. Quarles, Assistant Secretary for International Affairs, U.S. Department of the Treasury
• Jürgen Stark, Vice President, Deutsche Bundesbank
• Gertrude Tumpel-Gugerell, Member of the Executive Board, European Central Bank
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