28 January 2022

CSFI: 179th Brussels 4 Breakfast with Tilman Lueder - DG FISMA

Why you should watch: For once, Graham gets second billing. The reason you should watch this video is because Tilman Lueder gives a fascinating insight into the Commission's work programme, covering its priorities in the securities/markets area. These include the consolidated tape project, the revision of the prospectus and listing rules, the renewed focus on retail investors (including concerns about 'gamification'), integration of ESG into 'everything', and consultation on an 'Open Investment' initiative. There is also an important discussion on just what 'strategic autonomy' really means as far as EU financial markets are concerned - and a powerful justification for it. Plus a few words on Libor. (Not to be missed. AH)

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 at Citi, who began his career in the City in the early 1970s with Phillips and Drew.

Tilman Lueder is head of securities markets at the European Commission in Brussels. He is a lawyer by background, with a JD from the University of Tuebingen, who began his career at Cleary Gottlieb before joining the Commission. Prior to his present role, he was head of asset management at the Commission, head of copyright and spokesman on antitrust issues. He has been at the Commission for 23 years.

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We discussed a selection of events since the 178th Brussels 4 Breakfast on 15 December 2021. These were taken from the following articles from my website:

General

·      Ukraine

·      French Presidency implications: fiscal rules reform with Draghi; strategic autonomy; more sovereign Europe

CMU

·                Summary article by Agnes Le Thiec in FISMA Newsletter

·                Euro Clearing:

·                Retail investor protection: responses to ESMA call for evidence (ALFI, Better Finance…)

Banking

·                EBA report: improved asset quality/ROE/ NPLS

·                AML: response by EBF

Insurance

·                Product liability rules: reform

ESG

·                Commission consultation on Taxonomy – nuclear/gas

·                AFME recommendations on Green Bond Standard

Cyber

·      Bitcoin threat: SUERF paper from Bindseil etc at ECB

© CSFI