The key events in EU financial regulation during the past month: Brexit, General, Banking, Capital Markets Union, ESG and Digital: the Lugano Convention, CBDC, CRD6 etc., with Graham Bishop (grahambishop.com) and Denis MacShane
Why you should
watch:
The Commission's recommendation
that the UK should be excluded from the Lugano Convention is big (and bad)
news. More evidence that Brussels has little interest in accommodating the UK -
and still less in doing a deal to bail out the City. That will also come up
when CRD6 is published - even though it is really the EU's response to the
external shock of Basel3 (which also, and equally, hits Britain). Other issues:
the EU's push for instant payments, talk of an ECB digital currency, and lots
to worry about on the ESG side.
Moderator: Andrew Hilton
(Director, CSFI)
Panellists:
Graham Bishop is a long-time London-based commentator on EU affairs - as
well as a committed Europhile. He began his career with Phillips & Drew,
moving to Salomon and Citi before setting up his own consultancy.
Denis MacShane is a former Minister
of State for Europe and author of a number of books on Europe -
including Brexiternity, now
in a revised edition.______________________________________________________________________________
The key topics that we discussed - though we di dnot get to them all!
Brexit:
ICMA 2Q report on bond markets; Applicable
law for securities: Lugano Convention – City Corporation urges support, Com
says NO to UK accession; EU/UK MoU agreed: was it worth the effort? (Example
output: EU/US Forum)
General
Works starts on the Conference on
the Future of Europe (CoFE); German Constitutional Court – will it kill Next
Gen EU? Commission prepares to raise €800 billion; Global minimum corporate tax
rate: Biden plan
Banking:
Instant payments: EBF, European
Payments Council, Com targeted consultation; Retail payments: Council supports
actions to promote instant/EU wide payments
Capital Markets Union:
CRD6/CRR3: AFME/ISDA’s priorities;
CCP committee chair on applying EMIR to CCPs
ESG
IFRS working group to accelerate
convergence in reporting standards; Accountancy Europe: EU plans for
sustainable corporate governance; CFA Institute launched first global
Certificate in ESG investing
Digital:
ECB reports on public
consultation about a digital euro; Bitcoin surge: 0.4% of global electricity
consumption.
© CSFI
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