TISA Just Leaked by Wikileaks -- Worse Than TPP and TTIP


Wikileaks Releases Draft of TISA ~ Trade In Services Agreement

Despite the failures in financial regulation evident during the 2007-2008 Global Financial Crisis and calls for improvement of relevant regulatory structures, proponents of TISA aim to further deregulate global financial services markets.  The draft Financial Services Annex sets rules which would assist the expansion of financial multi-nationals – mainly headquartered in New York, London, Paris and Frankfurt – into other nations by preventing regulatory barriers.  The leaked draft also shows that the US is particularly keen on boosting cross-border data flow, which would allow uninhibited exchange of personal and financial data.

Secret Trade in Services Agreement (TISA) ~ Leaked June 19, 2014


Exposed:  Secret TISA Agreement Worse Than TPP and TTIP

Proponents of TISA Aim To Further Deregulate Financial Services Markets

Analysis of Draft TISA Financial Services Trade Agreement

Preliminary Analysis of the leaked Trade in Services Agreement

Highlights of the analysis:

  • The secrecy of negotiating this document exceeds even the secrecy around the Trans-Pacific Partnership (TPP).
  • The TISA is being promoted by the same governments that installed the failed model of financial deregulation in the WTO and which has been blamed for helping to fuel the Global Financial Crisis.
  • TISA is designed for and in close consultation with the global finance industry, whose greed and recklessness has been blamed for successive crises and who continue to capture rulemaking in global institutions.

A sample of provisions from this leaked text show that governments signing on to TISA will:

  • be expected to lock in and extend their current levels of financial deregulation and liberalization;
  • lose the right to require data to be held onshore;
  • face pressure to authorize potentially toxic insurance products;
  • risk a legal challenge if they adopt measures to prevent or respond to another financial crisis.







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