The two largest markets for cosmetics and personal care products are the US and the European Union (EU). And while there are similarities, safety regulations differ greatly between the two.
Cosmetics manufactured under the EU Directive are held to higher standards than those from the US, which are loosely regulated by the Food and Drug Administration (FDA). Discrepancies are most apparent in the areas of ingredient safety, testing guidelines and labeling.
Though it is commonly assumed that FDA regulates cosmetics the same as it does food and drugs, "FDA's legal authority over cosmetics is different from other products regulated by the agency .... Cosmetic products and ingredients are not subject to FDA premarket approval authority, with the exception of color additives." – taken from the FDA website.