16th Annual European Financial Services Conference

08:30 – 09:00

Coffee and Registration

09:00 – 09:05

Welcome from the conference hosts

Stefano Micossi , Director General, Assonime

09:05 – 09:25

Keynote Presentation

Pierre Moscovici , Commissioner for Economic and Financial Affairs, Taxation and Customs

09:25 – 09:45

Keynote Presentation

Jes Staley , CEO, Barclays

09:45 – 11:00

Panel 1: The CMU scorecard so far

This is the final full year of the 2015-19 EU Commission and Parliamentary cycle, in which the Capital Markets Union (CMU) has been a strategic priority. Does the available evidence suggest CMU is becoming rooted in the European economy, or was it politically a flash in the pan that is proving too hard to implement in practice? How strong is the case for saying that CMU is a fundamental pivot towards a new financial markets policy in Europe, even if more time and effort is needed before its full potential is realised?

This year is also due to see crucial steps towards finalising Europe's our banking and securities markets reforms. How will these reforms impact the intermediaries around which our capital markets evolve? Will Europe’s investment banks be hampered or helped, and will financial market infrastructures be reinforced or restricted?

This panel will debate the degree to which CMU is fundamentally changing the EU's regulatory and market philosophy, and the extent to which it is creating new opportunities for both businesses and consumers.

Moderator: José María Roldán , Chairman and CEO, Spanish Banking Association

Jung Duk Lichtenberger , Deputy Head of Unit, Capital Markets Union, European Commission
Michel de Jonge , Manager International Public Affairs, PGGM
Veronique Ormezzano , Head of Group Prudential Affairs, BNP Paribas
Verena Ross , Executive Director , European Securities and Markets Authority (ESMA)
Deirdre Somers , CEO, Irish Stock Exchange

11:00 – 11:25

Coffee Break

11:25 – 11:45

Closing Keynote - Investing in Europe: opportunities and challenges for alternative investment managers

Richard Baker , President and Chief Executive Officer, Managed Funds Association

11:45 – 13:00

Panel 2: Investing in Europe – Charting the way forward

The European Commission is now rolling out a series of reviews and initiatives aimed at removing national barriers to cross-border investment, improving the market for private placements and exploring taxation policy issues. It sees these as an important complement to the leveraging effects of other EU regulatory regimes. At the same time, the European Commission is adapting the role and governance of the European Supervisory Authorities (ESAs) to deal with differences in supervisory treatment, practices and culture. It is also reviewing the EU's approach to assessing country equivalence and reaching determination, both of which are vital for international firms operating across borders.

This panel looks at investment in Europe from institutional, international and consumer perspectives, and aims to draw conclusions on which barriers to investing most urgently need to be broken down. With the return of economic growth in the EU, are investors justified in increasing their allocations to European assets and projects over the longer term? What practical obstacles remain to investing across the EU? How have Europe’s responses to the financial crisis impacted investors’ appetites for risk, and what signs are there that Europe is now genuinely developing an equity culture?

Moderator: Karel Lannoo , Chief Executive, CEPS

Pervenche Berès , MEP, European Parliament
Paulina Dejmek-Hack , Financial Adviser, Cabinet of President Juncker, European Commission
Lauri Rosendahl , President Nasdaq Nordics and Nasdaq Stockholm & SVP European Cash Equity and Equity Derivatives, Nasdaq
Kim Rozman , Associate General Counsel, HBK Capital
Andrew Schlossberg , Chief Executive Officer, Invesco EMEA

13:00 – 15:00

Lunch: The EU27 and Brexit - Contingency planning and fresh opportunities

The uncertainties that will inevitably follow the UK's departure from the EU in 2019 are such that however ambitious and deep the future relationship, trade and investment patterns will change. How advanced is contingency planning among financial institutions for Brexit? Will whatever transitional arrangements are agreed limit the likely negative impacts for firms, their clients and customers? How long will the transitional period be, and towards what new relationship - perhaps a free trade agreement that includes mutual market access for financial services? What might be the impact of a 'No Deal’ outcome to the Brexit negotiations on EU27 authorised firms and on the clients of financial institutions?

This session will take stock of the state of financial and corporate sector contingency planning and post-Brexit strategic thinking. What role will London play in European financial services post-Brexit, and is European regulation being adapted to take account of a new relationship?

Moderator: David Reed, Senior Partner, & Head of The Financial Policy Advisers Network, Kreab

David Wright, Chair EUROFI; former Secretary General, IOSCO
With remarks from: Brian Hayes, MEP, European Parliament
With remarks from: Karel Lannoo, Chief Executive, CEPS

Agenda

Thursday 1 February, 2018

Morning

Afternoon