EUROFI FINANCIAL FORUM 2010 Optimizing resilience and growth in EU financial reforms.
On the eve of the Ecofin Council and the annual meetings of the IMF and the World Bank and just a few weeks before the Seoul G20 summit, the Eurofi think tank is organizing a forum of the main public decision-makers and leaders of the finance industry to discuss the priorities for financial regulation and supervision required to strengthen financial stability and economic growth.
Political and industrial leaders will also exchange views on whether or not a new European action plan is needed for financial services. The priorities of the Belgian Presidency of the EU and the Commission’s legislative agenda (MiFID, SEPA, Solvability 2, pension funds, derivatives, post trading, consumer protection etc.) will also be on the agenda of this international event.
Just a few weeks before the Seoul G20 summit, the Eurofi think tank co-chaired by Jacques de Larosière is organizing its annual forum in Brussels (Centre Flagey), alongside the EU Council of Finance Ministers meeting, which will also be taking place in Brussels. This international event will bring together the main public decision-makers from the Commission, Parliament, Council, European Central Bank and regulators, as well as many leaders from the banking, insurance and market industries to discuss the priorities for financial supervision and regulation required to strengthen financial stability and economic growth. Users of the European financial market (issuers, businesses, consumers) will also be invited to express their views on the actions to be taken in this area.
Discussions on the first day of this forum will look at the regulatory priorities for the Belgian Presidency as well as the Commission's legislative agenda in the financial services sector and the need to define a new European action plan: revision of the Markets in Financial Instruments Directive (MiFID), implementation of the Single Euro Payments Area (SEPA), Solvency 2 application measures, revision of the pension funds directive, organization of derivatives markets, draft directive on securities clearing and settlement-delivery activities, consumer protection, etc.
These discussions will highlight the specific regulatory changes to be planned concerning market and payment infrastructures, in addition to those relating to the various financial institutions: fund managers, pension funds, insurers, retail and investment banks, at domestic or cross-border levels.
During the following days, in view of the forthcoming G20 Summit in Seoul, discussions will focus on defining a European regulatory basis to prevent crises and minimize recourse to taxpayers’ money.
Specific exchanges will make it possible to define under which conditions long-term investment can fully perform its role as regards financial stability and economic growth. Progress made with the measures recommended by the Larosière report will also be reviewed (Systemic Risk Committee, European authorities etc.).