European financial regulation and ‘Brexit’

Held on Wednesday, July 12, 12.30-2.15pm


Speakers

  • Nicolas Véron (Bruegel/Peterson Institute)

  • David Schraa (IIF)

  • Brian Polk (PwC)


Agenda

 

Nicolas Véron is always worth listening to – not least on European Banking Union (which he has been promoting for years), the EBA, ESMA and EU financial regulation/supervision more widely. From his perches on each side of the Atlantic (Peterson in Washington and Bruegel in Brussels), he has been able both to observe and to affect policy. Most recently, he has published a paper for Bruegel urging an early reform of the EBA and ESMA to deal with both banking union and ‘Brexit’. It urges, in particular:

  • a review of EBA governance, including the SRB and SSM;
  • an upgrade of ESMA into an “authoritative” hub for EU capital markets and financial conduct supervision; and
  • greater accountability of both the EBA and ESMA to the European Parliament.

Given the compressed timeframe for the ‘Brexit’ negotiations and the need for some kind of transition, the City is not going to escape the clutches of the ESAs any time soon – so what happens to them matters.

But is Nicolas right? Two other commentators have agreed to share their thoughts:

  • David Schraa is regulatory counsel at the Institute of International Finance, currently based in London, where he works with the G20, the FSB, the Basel Committee, IOSCO and the other myriad cross-border bodies that make finance so much fun. Before joining the IIF, he was an MD at JPMorgan and, before that, resident counsel at Euroclear.
  • Brian Polk is PwC’s leader on financial services regulation in EMEA. A Canadian based in London, and with a foothold in Brussels, he has been focused on post-crisis regulatory strategy since 2010.

Good stuff – and increasingly important as the ‘Brexit’ talks go on. If you (or a colleague) would like to join us (and perhaps share your own thoughts), please let us know by calling 0207 621 1056 or emailing alex@csfi.org. As usual, wine and sandwiches will be provided.

Sincerely yours,

Andrew Hilton
Director
CSFI