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Market initiatives
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25/11/2011 - European Financial Forum: Financial Regulation and the Dynamics of Savings and Investment Markets 3-4 november 2011 (report) - EFF
This annual off the record conference convened by the European Financial Forum (EFF) in association with the European Fund and Asset Management Association (EFAMA), Paris Europlace, and the Association for Financial Markets in Europe (AFME) was the first to be held at the Royal House of Cumberland Lodge after a successful 13 year series at Wilton Park. The conference brought together senior market participants, regulators and officials from ten countries across Europe plus senior representatives from the European Commission, Brazil, India and the Hong Kong SAR to discuss international capital markets and their regulation. Acknowledging the need for appropriate regulation, but concerned about the implementation of new regulatory requirements, the meeting focused much of its attention on the three new European Supervisory Authorities (ESAs), namely the European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA), and European Securities and Markets Authority (ESMA), and the impact their work and global regulatory developments would have on the financial services industry in the European Union (EU), US and Asia in particular.
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16/11/2011 - IOSCO Development of Corporate Bond Markets in the Emerging Markets : Final Report - IOSCO
November 2011
http://www.iosco.org/library/pubdocs/pdf/IOSCOPD360.pdf |
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23/09/2010 - Paris EUROPLACE - Europe 2015 : New ambitious measures for an integrated and competitive financial Europe - Paris EUROPLACE
In the current context of international financial and economic crisis, for which it is difficult to find solutions through convergence, the latest contribution of Paris EUROPLACE calls for the establishment of a truly European industrial policy in the area of financial markets, thereby setting the objectives and procedures for building a competitive financial industry to better finance the European economy and strengthen its international position. With these goals, Paris EUROPLACE proposes new initiatives that draw on lessons from the crisis and advance the construction of a European financial-services industry.
Download Paris EUROPLACE position paper |
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26/05/2010 - Edhec Risks - Feature publication "On the Suitability of the Calibration of Private Equity Risk in the Solvency II" Standard Formula - EDHEC RISKS
On the Suitability of the Calibration of Private Equity Risk in the Solvency II Standard Formula The drawing-up of the Solvency II prudential rules has become a major concern for the private equity industry. The capital requirements for private equity risk could turn out to be, from 2012, sufficiently binding to lead many European insurers to reduce appreciably their asset allocation to non-listed stocks. As an example, in the French market, in 2007, the total investments in private equity represented €22bn in the balance sheet of insurance companies (FFSA 2008). Insurance companies finance 21% of the funds raised (AFIC); thus becoming the leading national investors in non-listed stocks. Read the article |
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19/03/2010 - Overcoming too-big-to-fail: A Regulatory Framework to Limit Moral Hazard and Free Riding in the Financial Sector - CEPS
Download the new CEPS book prepared by a joint CEPS-Assonime task force and which outline a comprehensive framework from for regulating cross boarder banking groupe. Read the full document
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18/03/2010 - Harvard Law School - International Financial Systems Forum - 2010 Briefing Book Materials - Europe U.S. - Harvard
Download the forum participants' briefing book : newspaper articles, speeches, research papers...
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24/02/2010 - IFD - Expectations concerning the new European Commission - IFD
Position Paper of the "Initiative Finanzstandort Deutschland (IFD) |
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04/02/2010 - Volcker Rules' for Financial Stability - speech by Hal Scott - US Senate
Hal Scott's February 4, 2010 testimony at the Senate Committee on Banking, Housing and Urban Affairs Hearing on the Implications of the Volcker Rules' for Financial Stability.
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04/01/2010 - Report - The governance of financial market infrastructure by Ruben Lee - Oxford Finance
Read the report.pdf |
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28/03/2007 - CEPS : Financial Market data and MIFID - CEPS
The opening-up of the market for equity market data, as foreseen in the Markets in Financial Instruments Directive (MiFID), raises the question of whether data will be sufficiently consolidated and of high enough quality, or whether the information will become too fragmented, thereby hindering price transparency and the implementation of best
execution policies. This policy brief outlines the market for financial market data, the provisions of MiFID and the implementing measures regarding financial data and data consolidation. It also looks at the approaches taken by Committee of European Securities Regulators, the FSA and the US authorities. It concludes that markets should be capable of adapting and that additional licensing requirements, such as those proposed by the FSA, are in fact premature and might act as a barrier to the single market. Nor does it find that a US-style monopoly consolidator would be needed. Download the full report (.pdf 7 pages)
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