Commissioner McCreevy and Chairman Cox received the award at a formal ceremony, and openly spoke regarding their work in advancing the collaboration between U.S. and EU financial regulators. Chairman Cox said, "Our task as regulators is to lower the barriers to the efficient operation of the world's capital markets, by rationalizing the different regulatory approaches."

Commissioner McCreevy, while accepting the award, informed the audience that the European Union remains dedicated to concentrate on globally coordinated response in order to handle the major issues of valuation, market functioning, market transparency and prudential regulation. He repeated the continued focus of European Union on reinsurance, auditing and accounting, making it understandable that their files in economic markets regulatory dialogue must not be influenced due to the chaos.

Michael Maibach, the President and CEO, EABC said, "Chairman Cox and Commissioner McCreevy have created a model for US-EU regulatory cooperation that will benefit business growth, not just across the Atlantic, but for the benefit of markets around the world."