21 May 2021

CSFI: 173rd Brussels 4 Breakfast - 19 May 2021

It has been a busy month. The EP has formally approved the TCA - but that hasn't stopped efforts by the Commission and by individual member states to take business away from London. The inaugural meeting of the Conference on the Future of Europe was held in Strasbourg...

Why you should watch:

.. is the answer (as usual) 'more Europe', or are national strains starting to show? What does Annalena Baerbock's rise in Germany mean for a 'Green Europe'? Plus important interventions from Andrea Enria and Mairead McGuinness, and a new focus on sustainability.

 Moderator: Andrew Hilton (Director, CSFI) 

 Panellists:

 Graham Bishop left Citi to set up his own EU-focused consultancy 21 years ago. Since then he has emerged as one of the UK's most dedicated europhiles - chairman of the National Council of the UK's European M movement, a Board member of the Kangaroo Group etc.

 Nick Collier is the MD of the City Corporation's Brussels office - a role he took on in February 2019 after 10 years at Thomson Reuters, where he was global head of government relations, and four years at Morgan Stanley, as head of EMEA government relations.

 Josina Kamerling is head of regulatory outreach for EMEA at the CFA Institute in Brussels. Before that, she spent six years as an adviser at the European Parliament, and 11 years at ING after leaving Cambridge.

 Bepi Pezzulli is Secretary-general of Italia Atlantica, a centre-right think-tank in Rome, and the author of L'Altra Brexit - an alternative view of Brexit. He is a lawyer by background, served as Treasury Counsel at the EBRD in London and was head of legal and compliance for Southern Europe at BlackRock.

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We aimed to cover these major topics from the month past but - as always - ran out of time!

Brexit: European Parliament/Council formally approve EU-UK trade and cooperation agreement; IHS Markit: Brexit, Global OTC IRS markets - Q1 review; Bloomberg: The U.K. Deficit That Risks Cutting the Pound’s Rally Short; POLITICO: 7 takeaways from Michel Barnier’s Brexit book/FT: Boris Johnson’s ‘madman’ strategy dumbfounded Brussels’ Brexit chief :

General: Conference on the Future of Europe: inaugural event in Strasbourg; EU survey highlights support for greater crisis management role at EU level; Der Spiegel: Annalena Baerbock Holds the Keys to Germany's Next Election; Long Finance Pezzulli: Italy Narrowly Fended Off The Pillaging Of Its Financial Markets Infrastructure. The question Is, For How long? ECB’s Financial Stability Review; SUERF: Strengthening the international role of the euro; BCBS, CPMI and IOSCO survey clients and non-bank intermediaries on margin calls

Banking: SSM's Enria: Basel III implementation: the last mile is always the hardest; EBA Chair Campa speaks at the 35th Annual General Meeting of ISDA; European Commission’s Digital Operational Resilience (DORA) proposal (2020): EBF position SRB's Konig: Single Point of Entry - a resolution strategy addressing the home – host issue in Europe’s Banking Union

Capital Markets Union: Better Finance: Commissioner McGuinness: “Putting people at the heart of the financial system is part of my vision”; European Commission consultation: EU strategy for retail investors; ESMA: Guidelines on outsourcing to cloud service providers; SMSG advice to ESMA on its Consultation Paper on “Guidelines on certain aspects of appropriateness and execution-only”

ESG: IOSCO Vice Chair explains why and how IOSCO supports the sustainability initiative of the IFRS Foundation Trustees; Accountancy Europe: New directive takes EU corporate sustainability reporting to the next level; Project Syndicate Panetta: A Global Accord for Sustainable Finance

Digital: Vox: Bank runs and central bank digital currency

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