Such consistency (and, possibly, a certain level of harmonization) will make compliance less burdensome on regulated entities and pertinent third-party service providers that serve such regulated entities.
Lastly, in order to see genuine convergence between the European and U.S. regulatory frameworks for takeovers, Europe would first have to achieve a higher level of harmonization in many areas of law among its Member States.
Three levels of cooperation can generally be identified as shown in the shaded ellipses of Fig. 1 (Tominaga 2013): Fig. 1 (Tominaga 2013) Level of harmonization and regulatory cooperation.
As the degree of regulatory cooperation advances from sharing of submitted data to work sharing/mutual reliance on other authorities' work, and to decision sharing/mutual reliance on other authorities' decision, the necessary level of harmonization also advances from that of technical requirements to regulatory practice and to decision criteria.
Nonetheless, some baseline level of harmonization should be fostered for two main reasons.
It will be important to work toward some level of harmonization of measures in order to enable better comparisons across studies.
Although the design of the study does not allow to formally prove that the previous participation in harmonization efforts was indeed the reason for the overall high performance in this study group, the authors cannot exclude that the favorable results observed may be due to an increased level of harmonization among participants.
In this context, partial information from an IEHM programme may not be relevant if policy needs require information to be valid at higher levels of integration and harmonization.
Despite establishing a new national level coordination structure, local level coordination suffers from a lack of harmonization, difficulties with coordination among NGOs, and inexperience with proper monitoring (Sadik, Nakagawa, Rahman et al. 2017).
This indicates that the goal of harmonization of education levels across countries has been imperfectly achieved and implies that studies involving education levels, particularly those more coarse-grained than the ISCED levels, should be done on a country-by-country basis.
