Given the critical role that financial services plays in both the U.S. and E.U. economies, and the continuing prevalence of transatlantic barriers and insufficient regulatory coherence in the sector, said the Roundtable, the United States should include financial services market access and regulatory cooperation issues in the negotiations. The Roundtable warned that failing to do so would represent a significant missed opportunity for the United States. More generally, the TTIP is too big of an opportunity to exclude any sector from the negotiations.
For example, the negotiations will provide an opportunity to address market access barriers that keep U.S. businesses from enjoying full opportunities in Europe. They will also provide a forum to discuss new rules and mechanisms to enhance regulatory coherence and cooperation,
The business group urged Congress to support the negotiation of a comprehensive TTIP that covers all sectors of the economy, and to oppose any U.S. legislative or regulatory proposals that would take the nation in the opposite direction, thereby undermining the global competitiveness of large U.S. banks and U.S. companies that rely on their financing to do business around the world.