Brussels for Breakfast (138)
Held on Wednesday, February 21, 2018
Mark Simpson (Baker McKenzie)
Even leaving Brexit on the side, there is a good deal of financial services business shuttling through the Brussels corridors. Plus, ESMA has been flexing its muscles, and discovering that not everyone in the EU (let alone Washington) is enthused by a beefed-up central supervisor. The Systemic Risk Board is hopeful of weaning Eurozone banks off domestic sovereign bonds. And the cryptocurrency and blockchain buzz of Davos seems to have infected even the Commission and the BIS.
But I doubt very much we’ll last an hour without mentioning the B-word. The House of Lords EU Financial Affairs Sub-Committee has published its findings, the Treasury won’t hand the Treasury Select Committee its financial services position paper, MEPs have warned that a transition deal is no slam dunk, and Sabine Lautenschläger is calling for British banks to submit their homework early in case of a “no deal” scenario. But at least there should be a German government to negotiate with soon – even if it is likely to be in thrall to the magic of Macron.
Ready to help us navigate the Brussels labyrinth we have (as usual) Graham Bishop – one the UK’s top Euro-guides and a snapper-up of regulatory trifles. Joining him this month, we are pleased to welcome Mark Simpson, a partner in Baker McKenzie's Financial Services Group.
If you (or a colleague) would like to join us, would you please let us know as soon as possible by emailing email@example.com or by calling the Centre on 0207 621 1056. As usual, there will be coffee, tea and plenty of buns.