Brussels for Breakfast (142)

To be held on Tuesday, July 10, 2018

With support from PwC


  • Graham Bishop

  • Lucy McNulty (FN London)



Hewing to our new-found commitment to eschew politically-motivated Brexit point-scoring (at least in this context), there is (as always in Brussels) a lot going on that is going to affect the City more or less regardless of the tortuous negotiations over the exact terms of our departure. Of course we can’t ignore Brexit, but we can at least avoid flag-waving and table-thumping. There is, after all, too much at stake.

This month, for instance we have already had to digest:

  • launch of the FSB’s review of bank resolution planning;
  • the EBA’s technical standards on supervisory disclosure;
  • EFAMA’s new stewardship code for asset managers;
  • a French effort to tighten MIFID2’s equivalence rules;
  • AFME’s response to the Commission’s plans for NPLs;
  • Bernadino’s comments on moving euro clearing to Frankfurt;
  • the updated ECB manual for banks’ Asset Quality Review;
  • the EBA’s annual report;
  • political agreement on the free flow of non-personal data within the EU; and
  • the CityUK’s report on contract continuity for derivatives

Have I missed anything? Inevitably, but I am sure that Graham Bishop; sole proprietor of; will fill any holes, as he has done for more than a decade.

There is also the European Council that is taking place this week. Although Brexit will be front and centre, taxation the digital economy and progress towards Banking Union are also on the Docket.

As always Graham will have a minder to remind him of what is important and what is simply euro-dross. This month we welcome back Fiona Wright, a director at Brunswick in Brussels, where she has been a fixture since 2009, when she moved from the Treasury in London. Fiona has a PhD in PoliSci from the University of Florida, followed by a year at Brookings and a year on Capitol Hill, before she was lured back to the bright lights of Blighty.

These are exciting times – but it is all too easy to be blinded by the politics of Brexit, and to miss the meat and potatoes stuff that really matters. If you (or a colleague) would like to join us, and perhaps share your own thoughts – please let us know as soon as possible by emailing or calling the CSFI on 020 7621 1056. As usual there will be tea, coffee and buns.

Sincerely yours,

Andrew Hilton