Agenda

Morning

08:30 – 08:55

Registration & Welcome Coffee

08:55 – 09:00

Welcome

Stefano Micossi, Director General, Assonime

09:00 – 09:15

Keynote Presentation

Bernard Clerfayt, Secretary of State for Finance, Ministry of Finance, Belgium

09:15 – 09:30

Keynote Presentation

Jonathan Moulds, President, EMEA, Bank of America Merrill Lynch

09:30 – 11:00

Session 1: Fashioning Global Governance for Financial Services

The regulatory architecture of the global economy is changing as a result of the financial crisis, with rising economic powers asserting a new role Do we have the right global governance arrangements in place? How might accountability be organized at a global level? What ideas for reform are now emerging from the G20, IMF, FSB and the Basel supervisors? What is Europe’s role in this process? Is there consensus in the EU on what is required globally and internally?

Moderator:
Peter Praet, Executive Director, National Bank of Belgium; & Chairman, ECB Banking Supervision Committee
David Wright, Deputy Director General, DG MARKT, European Commission
Mark Sobel, Deputy Assistant Secretary for International Finance, US Department of the Treasury
Alberto Giovannini, Chief Executive Officer, Unifortune
Michaela Koller, Director General, CEA

11:00 – 11:20

Coffee Break

11:20 – 13:00

Session 2: Re-balancing Risk and Reward

The global financial services industry has arguably made possible much of the economic growth seen over the past 20 years. Do we risk renouncing the benefits of financial innovation in the interests of greater security? What is required to be able to continue to facilitate the financing of investment and to offer investors well diversified security portfolios? What safeguards and changed incentives are needed to avoid abuse in the future and to re-balance financial risk and reward? Have wrong incentives such as low cost of capital created a bloated financial sector? What new incentives would restore its healthy growth? Is moral hazard unavoidable in an era of global institutions? Are distortions to competition due to state aid compromising the level playing field?

Moderator:
Karel Lannoo, Chief Executive Officer, CEPS
Giovanni Carosio, Chair, Committee of European Banking Supervisors (CEBS)
Wolf Klinz MEP, Chair, Special Committee on the Financial, Economic and Social Crisis, European Parliament
Nadia Calviño, Deputy Director General, DG COMP, European Commission
Darcy Bradbury, Chair, Managed Funds Association; & Managing Director, the D.E. Shaw Group
David Devlin, Public policy leader EU and central cluster of PwC firms, PricewaterhouseCoopers

11:20 – 12:00

Panel Discussion

12:00 – 12:20

Keynote Presentation

Michel Barnier, Commissioner for Internal Market & Services, European Commission

12:20 – 13:00

Panel Discussion and Q&A with Audience

13:00 – 15:00

Lunch Session (by invitation only): Looking Ahead - A New Deal or 'Business as Usual'?

Will there be a brave new world for financial markets and their customers and regulators, or has there been more rhetoric than realism? Both national and global policies are being designed to restore growth and financial stability, but how effective do they look set to be? Are there foreseeable risks and stresses for the financial sector arising from global imbalances? Are financial markets already reverting to excessive risk-taking or can we be confident that the mistakes that led to this financial crisis will not be repeated?

Moderated by:
John Houston, Senior Partner, Kreab Gavin Anderson

14:00 – 14:20

Opening Remarks

Eddy Wymeersch, Chair, Committee of European Securities Regulators (CESR)
William E. Kennard, U.S. Ambassador to the EU, U.S. Mission

14:20 – 15:00

Questions and Discussion