Past event

Conference

Financial Regulation and the Real Economy

Balancing growth and stability

Chatham House, London

What will be the impact of proposed financial regulation on banks’ roles in the real economy?

Post-financial crisis, policy-makers in the US, Europe and the UK are considering and writing regulation in an attempt to establish financial stability and to protect taxpayers from bearing the cost of future systemic failure.

But in the context of dramatically deteriorating economies and turmoil in financial markets on both sides of the Atlantic, should regulators soften their approach?  Senior policymakers, business leaders, and expert commentators will discuss vital issues including:

  • Who should write the rules?
  • Whether proposed financial regulation will restore or stifle economic growth
  • The extent to which reforms will invite regulatory and sectoral arbitrage
  • How national policymakers will tackle tensions between international regulation and national self-interest
  • Whether the Dodd-Frank Act and the UK’s Independent Commission on Banking’s recommendations will survive political realities
  • Progress on cross-border resolution.


Registration

  • Douglas J Flint CBE

    • Group Chairman
  • Mark Hoban MP

    • Financial Secretary
  • Gavin Bingham

    • Former Secretary General of Central Bank Governance Forum
  • Sharon Bowles MEP

    • Chair, Economic and Monetary Affairs Committee
  • Andrea Enria

    • Chairperson
  • Jonathan Faull

    • Director General, Internal Market and Services
  • Simon Gleeson

    • Partner
  • Dr DeAnne Julius

    • Chairman
  • Brooke Masters

    • Chief Regulation Correspondent
  • Mark Morris

    • Finance Director
  • Susan Revell

    • EMEA Head of Regulatory Reform
  • Richard Reid

    • Director of Research
  • Jon Pain

    • UK Head of Financial Services Risk Consulting
  • Barbara Ridpath

    • Chief Executive
  • Verena Ross

    • Executive Director
  • Charles Taylor

    • Deputy Comptroller for Regulatory Policy, Office of the Comptroller of the Currency
  • Peter Thal Larsen

    • Assistant Editor
  • Eddy Wymeersch

    • Former Chairman

This conference will be held under the Chatham House Rule. Information for journalists
Press can request a press pass using the form below.

Sponsored by

 

 

Supported by



 




If you are interested in becoming a media partner for this event, please contact Esther Stoffels on +44 (0)20 7957 5753 or email estoffels@chathamhouse.org.

Venue

Chatham House
10 St James's Square
London
SW1Y 4LE

Tel: +44 (0)20 7957 5700
Fax: +44 (0)20 7957 5710


Accommodation

Although we cannot book accommodation for delegates, we have arranged a reduced rate at some nearby hotels, where you can book your own accommodation. Please inform the hotel that you will be attending a conference at Chatham House (The Royal Institute of International Affairs) to qualify for the Institute's reduced rate.

Please note all rates are subject to availability.

Flemings Mayfair
Half Moon Street
Mayfair
London W1Y 7RA
Tel: + 44 (0)20 7499 2964
Fax: + 44 (0)20 7499 1817
Standard Single £180 + VAT

The Cavendish London
81 Jermyn Street
London
SW1U 6JF
Tel: + 44 (0)20 7930 2111
Fax: + 44 (0)20 7839 2125
Standard Single £200 + VAT

To book The Cavendish online

Monday 19 March 2012
09.30

Opening Remarks
DeAnne Julius
Chairman, Chatham House

Session One
Growth and stability: the trade-off

  • Will proposed financial regulation restore economic growth by enhancing stability or stifle growth by increasing the cost of credit?
  • What impact will the eurozone crisis have on financial regulation?
  • Is there a danger that robust regulation and taxation in Europe and the US will drive business to more flexibly regulated economies, resulting in further global economic fragility?
  • The regulatory focus on banks may drive activity out of the banking sector. What risks does this present?

Chair
DeAnne Julius
Chairman, Chatham House

Keynote Speakers
Mark Hoban MP (on the record)
Financial Secretary
HM Treasury, UK

Questions and discussion

Jon Pain
UK Head of Financial Services Risk Consulting
KPMG LLP

Speakers
Richard Reid
Director of Research
International Centre for Financial Regulation

•    Are political pressures, driven by public perceptions, shaping policy on financial regulation disproportionately?
•    How will the UK’s stand on Europe affect the influence it is able to have on financial regulation?

Sharon Bowles MEP
Chair, Economic and Monetary Affairs Committee
European Parliament

Panel discussion
Sharon Bowles MEP

Jon Pain

Richard Reid


11.30 – 12.00    Refreshments

Session Two
What is Financial Regulation For?

  •  What is the role of financial services in the economy and what should financial regulation be achieving?
  • What governance should there be on regulatory rule-writing? Are regulators and supervisors equipped to write the rules? Who should be shaping the future of the financial system? What influence should governments and industry have? 

  • If governments consult widely with industry on regulation, what is the danger of regulatory capture?

Chair
Brooke Masters
Chief Regulation Correspondent
Financial Times

Discussants
Susan Revell
EMEA Head of Regulatory Reform
Morgan Stanley

Eddy Wymeersch
Former Chairman
Committee of European Securities Regulators

Verena Ross
Executive Director
European Securities and Markets Authority

Mark Morris
Finance Director
Rolls-Royce


13.00 – 14.15 Lunch


Session Three
The Future of Banking Regulation

  • How will national policymakers resolve tensions between international regulation and national self-interest? How will this work at European level?
  • To what extent will the UK’s Independent Commission on Banking’s recommendations, and the Dodd-Frank Wall Street Reform and Consumer Protection Act in preparation, survive political realities? Are there plans to adopt this regulation elsewhere?
  • The progress of Basel III; how widely will it be adopted?
  • How effective will the new European supervisory authorities be?
  • What progress is being made on cross-border resolution? Without progress on this, can the financial services industry remain a global industry?
  • How effective will Central Banks be as bank supervisors?
  • The quantity and complexity of financial regulation being proposed at global and national levels is great.  What will be the aggregate impact of regulation  on banks?


Chair
Barbara Ridpath
Chief Executive
International Centre for Financial Regulation

Speakers
Jonathan Faull
Director General, Internal Market and Services
European Commission

Charles Taylor
Deputy Comptroller for Capital and Regulatory Policy
Office of the Comptroller of the Currency, US

Andrea Enria
Chairperson
European Banking Authority

Gavin Bingham
Secretary General, Committee on Bank Governance
Bank of International Settlements

Simon Gleeson
Partner
Clifford Chance

Questions and Discussion

16.15 - 16.45 Refreshments


Session Four
The Impact of Financial Regulation on Banks

  • What will be the impact of proposed regulation on the activities and structure of banks?
  • How will banks adapt their business models to accommodate different regulatory regimes?

  • How will banks’ capacity to support credit growth, trade finance, capital flows, and mergers and acquisitions, be affected?

  • If, as UK regulation proposes, investment banks are ‘ring fenced’ from retail banks, what will the costs and impacts be? Will Europe ‘ring fence’?

 

Keynote speaker
Douglas Flint
Group Chairman
HSBC Holdings plc

in discussion with
Peter Thal Larsen
Assistant Editor
Reuters Breakingviews

Closing remarks
DeAnne Julius
Chairman, Chatham House


17.30 End of conference, followed by a drinks reception.


© The Royal Institute of International Affairs, 2012