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Graham Bishop is renowned for his vision and the courage to propose radical ideas, yet ground them in a mastery of the technical details of the financial system. He has been referred to as a one-man think tank.
European Commission: His influence at the meeting point of politics, economics and finance has been recognised on many occasions - most recently when the European Commission asked him to study the attitudes of investors toward the euro area sovereign bond markets. In particular, he explored attitudes towards the potential for a “common euro area safe asset”: what characteristics should it possess and whether it would ameliorate any of the concerns expressed about the features of existing bond markets.
Graham's many pro bono activities illuminate and reinforce his Consultancy Services. His deep knowledge of Europe’s financial system is integrated with his understanding of EU economic and budgetary policy-making – whilst set within the necessary framework of democratic accountability.
He was a member of the Commission's Consultative Group on the Impact of the Euro on Capital Markets; of the Commission's Strategy Group on Financial Services; and of the Committee of Independent Experts on the preparation of the changeover to the single currency (1994/5).
This Website, as well as Graham's Consultancy Service, is designed to bring clients the direct insights that flow from Graham’s position as a leading technical analyst of economic and structural developments in the financial markets of Europe.
"Institutional investors and major financial firms now face a huge commercial challenge in Europe. The vision of political integration has entered a critical phase: ...."
"..analysis of obscure bureaucratic manoeuvrings towards fiscal union, labour mobility and tax co-ordination etc. is quite outside the comfort zone of many..."
"It is now entirely foreseeable that governments may make potentially far-reaching changes that would impact the valuation of European financial assets, as well as reforming the nature of the regulations governing key parts of the financial sector’s business".
"..So the consequences of this crisis will be historic – and will reverberate around global financial markets. The stakes for participants in European financial markets could not be higher.."
Consultancy services can take many forms: face-to-face meetings, telephone discussions, written comments, speeches, special articles, customised research projects, etc.
The draft regulation is aimed at reducing one of the main regulatory hurdles that companies face when issuing equity and debt securities. It sets out to simplify administrative obligations related to the publication of prospectuses in a manner that still ensures that investors are well informed.
"This is an important reform that will help companies in need of finance to gain access to European capital markets", said Jeroen Dijsselbloem, minister for finance of the Netherlands and president of the Council. “The prospectus is an essential instrument for investors, but legal requirements must not create unnecessary barriers to raising capital." [...]
A reform of prospectus rules is amongst measures announced by the Commission under its 2014 “investment plan for Europe” with the aim of improving the business environment.
And it is a second major building block of the EU's 2015 plan to develop a capital markets union. In December 2015, the Council reached a similar agreement on proposals to facilitate the development of a securitisation market in Europe. The capital markets union is due to be fully functioning by the end of 2019. The aim is to strengthen the role of market-based finance, alongside bank finance, in the EU economy. [...]
The proposal establishes specific rules for four groups of issuers:
Full press release
June 2016 draft regulation on the prospectus to be published for the trading of securities
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