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International Regulatory Co-operation: Case Studies, Vol. 2

Canada-US Co-operation, EU Energy Regulation, Risk Assessment and Banking Supervision

image of International Regulatory Co-operation: Case Studies, Vol. 2

The world is becoming increasingly global. This raises important challenges for regulatory processes which still largely emanate from domestic jurisdictions. In order to eliminate unnecessary regulatory divergences and to address the global challenges pertaining to systemic risks, the environment, and human health and safety, governments increasingly seek to better articulate regulations across borders and to ensure greater enforcement of rules. But, surprisingly, the gains that can be achieved through greater co-ordination of rules and their application across jurisdictions remain largely under-analysed.

 

This volume complements the stocktaking report on International Regulatory Co-operation: Rules for a Global World by providing evidence on regulatory co-operation in the framework of the Canada-U.S. Regulatory Cooperation Council, as part of EU energy regulation, under the Global Risk Assessment Dialogue, and in the area of prudential regulation of banks. The four case studies provided in this volume follow the same outline to allow for comparison.

English

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The Canada-U.S. Regulatory Cooperation Council

Given the highly integrated nature of the Canadian and US economies, Prime Minister Harper and President Obama created the Regulatory Cooperation Council in 2011, with an aim to establish more effective approaches to regulation that enhance the economic competitiveness of both countries, while maintaining high standards of public health and safety and environmental protection. This case study shows how and through which instruments the RCC, an umbrella regulatory co-operation agreement between both federal governments, aims to achieve greater alignment in regulatory systems as well as smarter, more effective and less duplicative regulations and regulatory practices in specific sectors.

English

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