Speaking at the 13th annual Europe-USA Investment Funds Forum in Luxembourg on Tuesday, SEC Commissioner, Roel Campos revealed that he is planning to propose mutual recognition between US and European investment funds.
According to the Investment and Pensions Europe (IPE) news service, stressing that he was expressing his own opinions rather than those of the Securities and Exchange Commission, Mr Campos told delegates that:
"I'm proposing mutual recognition [of regulated mutual funds] if regulated in Europe by a recognised regulator. Why not allow them to be sold in the US?"
He went on to add:
"So I'm promoting the idea of bringing the highest level of rules together, so that when they are close we can consider bringing them together."
However, the SEC Commissioner also stressed that there were potential legal hurdles to be overcome before such an arrangement could be put in place.
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