The U.S. Securities Industry Association is calling for international standards for regulatory transparency.

In a letter to the new director-general of the World Trade Organization, the SIA says that its goals for the next round of negotiations on financial services trade are: reducing trade barriers, and domestic regulatory transparency.

The SIA notes that its international committee has been working on some global consensus for improving transparency over the past year. “Transparent and fair regulatory systems play an integral role in the development of deep and liquid capital markets that attract market participants, increase efficiency and spur economic growth, development and job creation,” it says. “Lack of transparency in the implementation of local laws and regulations can seriously impede the ability of securities firms to compete fairly.”

It notes that it has produced a paper laying out principles for openness and transparency, that would provide equal access to regulatory proposals, require public availability of new rules, adequate comment periods and non-discriminatory enforcement.