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European Finance Forum
Confirmed Speakers:
Wolf Klinz, MEP; Garces Tolon, Cabinet Kuneva; Valerie Bros,
Topics to include:
Latest developments on UCITS, Retail Financial Services, French Presidency Programme
Forthcoming
Commission Public hearing on 'Insurance Guarantee Schemes'
Speakers and panellists will participate from the European Parliament, CEIOPS, supervisory authorities, guarantee scheme operators, OXERA, the insurance and banking industry, FIN-USE, Finance Ministries and the Commission. Deadline for registrations is 16 May.
Programme, On-line registration
17-18 June 2008
FESE Convention
The 12th FESE Convention in
Commission Public Hearing on "substitute" retail investment products
11-12 September 2008
Eurofi Conference 2008
The Conference on “EU priorities and proposals of the financial services industry for the Ecofin Council” will take place in Nice, prior to the informal ECOFIN Council session. Speakers include: Joaquin Alunmia, Charlie McCreevy, Wolf Klinz, Michel Pébereau, Tommaso Padoa-Schioppa, Thomas Steffen, Eddy Weymeersch, Pervenche Berès, Magdalena Kuneva, Christine Lagarde, Gertrude Tumpel-Gugerell, and many others.
Programme, Further information
BaFin Sanio: New doctrine of "too connected to fail"15 May 2008 |
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The case of Bear Stearns created a new doctrine, BaFin President Sanio said and strongly opposed recent calls to simplify regulation. “There certainly are many answers to all the difficult questions within a complex international financial system. View |
ICE approval causes OFT consultation on competition issues14 May 2008 |
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ICE Clear Europe has received recognition from the FSA as a UK recognised Clearing House. The approval caused the OFT to consult on competition issues in the derivatives market. View |
IIF Dallara calls for voluntary industry best practice14 May 2008 |
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The debate is not about "self-regulation" versus "more regulation". Instead, there is an emerging consensus on the benefits of reinforcing market-based corrections with improved regulatory incentives and structures, IIF Managing Director Dallara said. View |
EFRAG advice and effects study report on IFRIC 1314 May 2008 |
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EFRAG has completed its due process regarding the Amendment to IFRIC 13 - Customer Loyalty Programmes. EFRAG supports the amendment although two members have concerns about it. View |
Fed Kroszner – Implementing Basel II in the US14 May 2008 |
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Before banks start the implementation of the new Basel II rules “we strongly recommend that banks conduct a sober and frank self-appraisal of their current risk management procedures", Fed Governor Randall Kroszner said. View |
ECOFIN meeting14 May 2008 |
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The Council approved policy and procedures for improving the EU's arrangements for financial supervision and financial stability. It set out steps to develop a European dimension into the mandates of national supervisory authorities and improving the functioning of the 3L3 Committees and the supervision of EU-wide financial groups. View |
SEC proposes XBRL standard for financial information disclosure14 May 2008 |
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The SEC proposes using XBRL technology for company’s financial information. The first interactive data would be made public in early 2009. Companies using IFRS would provide this disclosure for fiscal periods ending in late 2010. View |
Bernanke – Financial markets still far from normal13 May 2008 |
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Although there are some encouraging signs a number of securitization markets remain moribund, risk spreads generally remain quite elevated, and pressures in short-term funding markets persist, the chairman of the Federal Reserve, Ben Bernanke said. View |
EU and US insurers call for bilateral forum13 May 2008 |
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The US and the European Union should agree to establish a bilateral forum on insurance and re-insurance issues, the CEA and ACLI say. The forum should develop a joint roadmap toward interim and long-term solutions on the re-insurance collateral issue and the EU Solvency II project. View |
Commission recommendation to strengthen confidence in statutory audit13 May 2008 |
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The recommendation strengthens the role of the public oversight authorities in inspections. Independent oversight bodies should play an active role in the inspections of audit firms. Professional associations should no longer take the lead in organizing inspections. View |
EU - US joint statement on open investment13 May 2008 |
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The EU and the US issued a joint statement affirming their commitment to promoting open investment policies. It also insists the importance of appropriate transparency and commercial considerations in state-backed sovereign wealth investments. View |
ECB Trichet on adapting the international financial architecture13 May 2008 |
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The IASB and other relevant standard-setters should take urgent action to improve the accounting and disclosure standards for off-balance sheet entities and to enhance guidance on fair value accounting”, Trichet said. “Moreover, the role and uses of credit ratings should be changed. View |
EFRAG advice on the amendment to IFRS 213 May 2008 |
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EFRAG has completed its due process regarding the amendment to IFRS 2 Share-based Payment and supports the amendment noting that it is not contrary to the ‘true and fair principle’. View |
IPE: EC fires warnings over tax and governance12 May 2008 |
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The Commission is making fresh moves to rectify the discrimination of overseas pension funds by the Spanish and Portuguese governments over dividends tax along with legal breaches concerning corporate governance. View |
EFRAG's Final Comment Letter on D24 Customer Contributions09 May 2008 |
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EFRAG is concerned that the wording in the consensus seems to assume that in all cases the access provider accepts an ongoing obligation to provide access in return for the contribution. The draft Interpretation would benefit further if clear reference to IAS 18 were made, EFRAG notes. View |
ECB April 2008 bank lending survey09 May 2008 |
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The ECB published its report on the results of the April 2008 bank lending survey for the euro area. The survey also included a set of ad-hoc questions to gauge the extent to which the financial market tensions have affected banks’ credit standards for loans and credit lines to enterprises and loans to households. View |
SEC Cox comments on CRAs and Fair Value09 May 2008 |
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The SEC will consider proposed new rules to strengthen the rating agencies' accountability and transparency, and make their industry more competitive within the coming weeks, SEC chairman Christopher Cox said. Also, the apparent pro-cyclicality of fair value accounting will be reconsidered. View |
IPE: German gov’t plans threaten pension savings09 May 2008 |
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The German government wants to make it more attractive for companies to offer their employees shareholdings. Employer and pension industry representatives fear this might have a negative effect on supplementary pension provision. Tax incentives and new employee participation models for non-listed companies are to be introduced by 2009 under these proposals. View |
ECON study: Financial Supervision and Crisis Management in the EU09 May 2008 |
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Financial regulation and crisis management have not kept pace with changes in the structure of financial markets, a study commissioned by the ECON committee says. A lack of focus on the changing systemic characteristics of the financial system is a significant characteristic of Basel II and the CRD. View |