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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.
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The key topics that we discussed - though we di dnot get to them all!
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)
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
Instant payments: EBF, European Payments Council, Com targeted consultation; Retail payments: Council supports actions to promote instant/EU wide payments
CRD6/CRR3: AFME/ISDA’s priorities; CCP committee chair on applying EMIR to CCPs
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
ECB reports on public consultation about a digital euro; Bitcoin surge: 0.4% of global electricity consumption.