Brussels for Breakfast (147)

Held on Tuesday, February 12, 2019

With support from CISI


  • Graham Bishop (

  • Brian Polk (PwC)

  • Monica Sah (Clifford Chance)



Who knows where we will stand by February 12? Certainly not me – but, no matter how deep in the mire we find ourselves - one thing that we can count on is that the Brussels sausage machine grinds on. And that will matter for the City of London, whether we are In, Out, Sitting on the Fence or huddled in a corner crying into our beer.

One never knows what’s going to come up, but (at the time of writing) I note the Commission’s latest attempt to overturn the national veto on tax affairs – something for us to look forward to if Remainers win the day. I also note:

  • the concerns raised by both the EBA and ESMA about crypto assets;

  • the Commission report on the AIFMD;

  • ESMA’s report on investment products;

  • the ECB’s ethical code for senior officials;

  • the first report by the Technical Export Group on sustainable finance; and

  • the AMF’s list of priorities for 2019 (important because what Paris wants, Paris tends to get).

I am sure our old friend Graham Bishop – proprietor of – will have a lot more to add (and, in any case, much of this may well have been rendered null by the time February 12 rolls round). But, just in case there is still something to say, I am delighted that we have two powerful voices to back Graham up:

  • Brian Polk is, as most of you know, EU regulation leader for FS at PwC, heading the firm’s work on emerging EU rules that impact financial markets, banks and insurers.

  • Monica Sah (for whom this will be a first time on our B4B team) is another Canadian – though her PhD is from the Institute of Advanced Legal Studies here in London. She recently re-joined Clifford Chance as a partner in the International Financial Markets Group, specialising in financial markets laws and regulation.

As usual, this is a caring and sharing experience – so we welcome your own thoughts/concerns/opinions. If you (or a colleague) would like to join us, please let us know by emailing or by calling the Centre on 0207 621 1056. As usual, there will be tea, coffee and buns.

Many thanks,

Andrew Hilton