As a response to the financial crisis, regulatory changes have been made across the globe. Even though those reforms tend to have the same objectives, differences in how the regulatory framework is designed and inconsistent definitions are sources of concern for all interested parties. How could we find a way to avert this? Could it be by adopting a multilateral approach or a bilateral one? Could outcome based on mutual recognition be a way forward?
Possible discussion points:
- Could the patchwork of national and regional regulation have a negative effect on the global finan- -cial system performance and put in jeopardy the integrity of the market?
- How can we develop common regulatory objectives and standards at the international level?
- How can we achieve a reduction of the risks and lessen any unclearness due to national regulatory differences?
- To this end, is mutual regulatory recognition the best solution?
- Is it necessary to attain mutual regulatory recognition by aspiring to equivalent regulations or is resoluteness the most important feature for regulations to achieve positive outcomes?
- Is a bilateral approach between the EU and the US enough or should we aim at a more multilateral strategy including all interested parties?
- How can international organisations such as G20, the Financial Stability Board and IOSCO intervene proactively in this context?
Olivier Guersent Deputy Director General, DG FISMA, European Commission
Neena Gill Member of the European Parliament
Helen Stylianou Assistant Secretary, Services and WTO Trade Policy Branch, Department of Foreign Affairs and Trade, Australia
Simon Puleston Jones Chief Executive Officer, FIA Europe
Judith Hardt Managing Director, Swiss Finance Council
Chris Allen Global Head of Regulatory Policy, Barclays
Moderator: John Rega Chief Correspondent, Financial Services, MLex