Financial services regulators in the United Kingdom were warning U.S. regulators in August 2009 to pay more attention to European Commission financial regulation projects.
WikiLeaks included a financial services cable said to be produced by a U.S. diplomat in the U.S. embassy in London Aug. 3, 2009, in a batch of cables released Friday.
The cable was classified as confidential and scheduled to be declassified in 2014, according to WikiLeaks.
Brussels, the headquarters city for the European Commission, "is moving ahead faster on reform than Washington and London, and more worrying, without sufficient consultations with 
the U.S. and the UK," Stephen Pickford, director of international finance at the U.K. Treasury, told U.S. embassy staffers in the summer of 2009, embassy staffers write in the cable.
U.K. officials urged U.S. officials to work more actively and more consistently with European countries to get the U.S. voice heard in Brussels.
In 2009 – before Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act – "Pickford raised concern about the insufficient attention given to the winding down of failing firms."
Neither the United Kingdom nor the Obama administration had "adequately addressed the problem of truly global firms" failing, Pickford told U.S. embassy staffers.
Other U.K. officials expressed concerns about how U.S. financial services proposals and the new insurance office at the U.S. Treasury Department might affect U.K. companies with insurance operations in the United States.
Stuart Fraser, a City of London official, talked about international regulation of insurance.
"Insurance industry liabilities are a hidden time bomb, and the cross-border importance of these firms requires coordinated action plans," Fraser said, according to the cable.
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