President Donald Trump's planned rollback of financial rules could undermine years of trans-Atlantic negotiations and threaten U.S. firms' access to European Union capital markets, according to the bloc's financial-services policy chief.
Valdis Dombrovskis, a vice president of the European Commission, said on Tuesday that the EU would look at the "practical outcomes" of Trump's review of financial rules. If major changes are made, that would force the bloc to reassess the strength of U.S. market oversight and possibly reconsider so-called equivalence decisions that grant privileged market access.
Companies like Chicago-based CME Group Inc., one of the world's largest clearinghouses for derivatives, rely on such equivalence determinations to conduct business with clients in Europe.
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