The measures taken post crisis are of a magnitude that has not been seen before in modern times. Commissioner Lord Hill has asked for an analysis of the cumulative effect of the adopted legislation with the aim to assess the overall impact in terms of jobs and growths while preserving financial stability.
08.30 – 09.00 Registration and welcome coffee
09.00 – 09.10 Moderator’s opening remarks
09.10 – 09.20 Keynote speech by John Berrigan Acting Deputy Director General, DG FISMA, European Commission
09.20 – 11.00 Panel 1: Analysing the global impact of financial regulation
Discussion points
- Getting Europe back on track towards long-term growth and job creation is a vital goal for the EU and for national governments alike. Are the regulatory measures taken post crisis in line with this goal or are there adjustments yet to be made?
- How do we find the right balance between growth and financial stability? Are these goals inevitably conflicting or can we find a successful way to combine them?
- Is it really possible to predict the cumulative impact of the new regulatory framework? Is there a risk for unintended consequences or side effects? How will the financial industry adapt to the new rules?
Speaker line-up
Martin Spolc Head of Unit B2 – Economic analysis and evaluation, DG FISMA, European Commission
Peter Simon Member of the European Parliament
Nigel Wilson Group Chief Executive, Legal & General
Costas Stephanou Member of the Secretariat, Secretary of the Standing Committee on Standards Implementation, FSB – Financial Stability Board
Nick Forrest Director, Economics and Policy, PwC
Prof Dr Veerle Colaert Jan Ronse Institute for Corporate and Financial Law, KU Leuven
Moderator: Ashley Kovas Senior Regulatory Intelligence Expert, Thomson Reuters
11.00 – 11.20 Coffee break
11.20 – 13.00 Panel 2: Future challenges
Discussion points
- What should the objectives for the new legislative term be? Are there any unregulated areas left, which need to be addressed? Where might a revision be needed amongst the already adopted legislations?
- Is there a need for an extensive review or will some fine tuning of the existing regulation be sufficient?
- How should potential problems arising from the post-crisis regulatory measures (e.g. incoherence between directives and unintended consequences) be addressed?
- Strengthened prudential rules for various market players could affect their ability to channel funds into long-term investments negatively. Can this be mitigated without threatening the financial stability goal for which these prudential rules were established in the first place?
- Third country rules should ideally eliminate regulatory arbitrage without reducing the access to funding from international investors. Have we found the right balance in this regard?
Speaker line-up
Othmar Karas Member of the European Parliament
Simon Puleston Jones Chief Executive Officer, FIA Europe
Ann Shuman Deputy General Counsel, DTCC
Christophe Nijdam Secretary General, Finance Watch
Nick Forrest Director, Economics and Policy, PwC
Moderator: Ashley Kovas Senior Regulatory Intelligence Expert, Thomson Reuters
