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Welcome to Graham Bishop.com

Our new service "Brexit and the City - the Impact" builds on the popularity of my series of videos about the impact of Brexit on "the City" - shorthand for the financial services industry throughout the UK.

Details are here

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15 December 2021

178th "Brussels 4 Breakfast": Our monthly look at financial developments in the EU institutions, with Graham Bishop, Julia Rodkiewicz (ICMA) and Thea Utoft (FTI Consulting)


Why you should watch: Regardless of Brexit, the EU matters – especially to the UK financial services sector. What happens to CCPs is an obvious concern, but developments on the CMU programme are equally – and more positively – important to London. There is also the Green taxonomy, issues over a consolidated tape (and post-trade transparency more generally), and a serious attempt to come to grips with digitalisation and with the mysterious world of DeFi. Plus, what does the new German government mean for financial services? And what does the French Presidency have up its sleeve for the first half of next year?

 

Moderator: Andrew Hilton (Director, CSFI)

 

Graham Bishop is the eponymous proprietor of grahambishop.com, one of the UK’s longest-established EU consultancies. He is a former bond analyst with leading US and UK banks who has been a fixture in the City of London and in Brussels since the early 1970s.

 

Julia Rodkiewicz is the director of market practice and regulatory policy at the International Capital Market Association in Brussels, where she opened a rep office earlier this year. She was previously a director at ISDA, and before that worked at BNY Mellon and CEPS.

 

Thea Utoft is a managing director at FTI Consulting in Brussels. She is a former Counsellor to the Danish Permanent Representative, and before that was a special adviser on EU affairs to the Danish financial regulator.

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23rd November 2021

In his latest Federal Trust video - with over 16k views already - Graham Bishop argues that the current controversy over central counterparties (CCPs) is symbolic of the difficulties facing the City after Brexit.

The City will not lose its dominant position in this sector overnight, but the EU sees building up its own CCPs as strategic necessity. Over the years, the EU will look to make CCPs from the EU first competitive with and then eventually more attractive than their City equivalents.

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177th Brussels 4 Breakfast: 17 November 2021 with John O'Donnell (Reuters)


Why you should watch: Kyriakos Mitsotakis says the EU will review the S&GP – and that the outcome will be ‘in our favour’. Wonder what Germany’s likely next Finance Minister, Christian Lindner, makes of that – and how he will sell it to FDP voters. Still, post-Covid, the debt and deficit limits make little sense. As for the push for financial services to shift from London to Frankfurt, Paris etc, it may be a question of timing. Longer term, the trend is (fairly) clear, but, in the short term, there is certainly little appetite in Germany for taking on new business – or new risks. One good thing from COP: the IFRS is trying to sort out green from brown – and its proposal for an ISSB is a genuine step forward. Other than that, the message from Glasgow was mixed: eco-enthusiasts could see sunlit uplands. Cynics see only empty phrases. Other issues: the so-called banking package, Solvency 2 on sustainability, AFME on data sharing, and the usual confusion over CBDC.

 

Moderator: Andrew Hilton (Director, CSFI)

 

Graham Bishop has been a fixture in the City of London since 1972, and deeply immersed in euro-issues since the far-off days of the Giovannini Commission. He set up his own consultancy in 2000, and has since become one of the most dedicated Brussels-watchers in the UK.

 

John O’Donnell is the chief European correspondent for Reuters, based in Frankfurt (though, pre-Covid) he was spending much of his time in Brussels. He is a former business correspondent for the Sunday Times. His current interests range from Russian money-laundering, to Taliban financing and the implications of the Wirecard scandal.

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I have published - with the Federal Trust - another of my videos on "Brexit: the Impact on the City". This one is entitled “Brexit has ended the Golden Age of the City of London.

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June 23rd: 174th Brussels 4 Breakfast

Moderator: Andrew Hilton (Director, CSFI); Panellists: Graham Bishop; Andreas Dombret and Pablo Portugal. For members: link to summary and topics

 

 

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June 4th: Financial Services Club/ZYen video with Alderman Mainelli and Graham Bishop: Brexit: Ending the City's Dominance of European Finance?


Consultancy Financial Services Deepening EMU Education and Learning

MiFID II has been in force since 2018 and requires many investment professionals to be knowledgeable and competent - by holding a qualification; having proper experience; verifying that they undertake Continuing Professional Development (CPD) and that firms record all this for their Competent Authority.

GrahamBishop.com offers access to our CPD programme via our `Friends' services - with  structured and unstructured CPD products. These services are extremely cost-effective for CPD purposes: Our Standard service provides 6 hours of structured CPD at €20 per hour and the Gold service gives a total of 10 hours at €24 per hour. Details

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