Sitting at the Top Table? The Future of the UK in European Financial Services - London, 12 July 2013
The EU has undertaken an impressive overhaul of its rulebook on financial services in recent years. Given the size of financial services industry in the UK and the heated debate around EU regulations, we brought to Europe House the key players and influencers for a morning of debate:
EU Commissioner Michel Barnier, former EU trade Commissioner Peter Mandelson, Mark Boleat, chair of Policy Committee City of London as well as leading authorites from the City of London and the European Parliament.
Time: 08.30 for 09.00 - 13.00
Place: Europe House, 32 Smith Square, London SW1P 3EU
Welcome & Introduction
Björn Kjellström, head of the European Parliament Information Office, UK
Mark Boleat, chair of the Policy Committee, City of London
Reforming Europe’s financial market: is Britain still a player?
The EU has undertaken an impressive overhaul of its rulebook on financial services in the wake of the 2007-08 crash and of Third Basel Accord. A new series of initiatives on the banking sector are expected after the 2012 Liikanen report. Given the size of its financial industry, the stakes for the UK are particularly high. Despite a new regulatory consensus in London, the City is often said to be at risk from excessive or misplaced EU legislation.
Is the UK’s expertise in financial matters still recognised in Brussels, and can London count on like-minded partners to shape the future of the EU’s rulebook?
Sharon Bowles, Liberal Democrat member of the European Parliament
Karel Lannoo, CEO of The Centre for European Policy Studies (CEPS), Brussels
Arlene McCarthy, Labour member of the European Parliament
further speaker TBC
Roger Liddle, chair, Policy Network
Michel Barnier, EU Commissioner, Internal market and services
Session moderated by Laura Kuenssberg, business editor, ITV news
Banking union, FTT, bonus cap: can Britain’s and the Eurozone’s interests be reconciled?
The safeguards on financial services regulation demanded by Prime Minister Cameron at the December 2011 EU summit were firmly opposed by most member states. Yet recent disputes on the Financial Transaction Tax initiated by eleven countries and on the cap on bonuses imposed by the revamped Capital Requirement Directive have fuelled the impression that integration in the euro area is potentially detrimental to the UK’s interests. Are Eurozone and British preferences increasingly drifting apart? What agenda can reconcile possible different interests?
Peter Mandelson, former EU Trade Commissioner, former UK first secretary of state and president, Policy Network
Gerry Grimstone, chair of Standard Life and CityUK
Steven Majoor, chair of European Securities and Markets Authority (ESMA)
Philippe Legrain, principal advisor at the Bureau of European Policy Advisers, European Commission
Laura Kuenssberg, business editor, ITV news