"Making Rules For Global Finance: Transatlantic Regulatory Cooperation At The Turn Of The Millennium"

This paper explains a shift in the way transatlantic authorities managed conflicts over the cross-border regulation of securities markets: from cooperation skewed heavily towards the preferences of U.S. officials and accepted grudgingly by European counterparts; to a Euro-American regulatory condominium characterized by close interactions among decision-makers and mutual accommodation. In the final decades of the twentieth century, the asymmetric influence wielded by U.S. securities market authorities had few parallels in other regulatory areas.