Risk, Regulation and Capital Markets
Investment in a climate of heightened uncertainty
In this current climate of uncertainty it is increasingly difficult to determine a course of action for investment decisions or judge how capital markets will evolve, regionally and globally. Where there is optimism there is also often a contrasting, more cautious view.
This Chatham House ‘City Series’ conference will explore how the post-Brexit regulatory landscape is being defined - one year into the formal two year negotiation period - and assess what the future might hold for international financial institutions, investors and global capital markets in a shifting political and regulatory environment.
In partnership with:
Thursday 15 March
Session One | Setting Global Standards for Asset Management Regulation
09:30 - 10:30
This session will examine the state of global capital markets, and the cross-border regulation and supervision of the investment management industry, including the effectiveness of attempts to remove cross-border barriers to fund investment and distribution.
- How successful have global efforts since 2008 been in developing mutual recognition, substituted compliance, and regulatory equivalence in order to reduce cross-border barriers to fund investment and distribution?
- After ten years of significant regulatory change, has a sense of ‘fatigue’ developed? Have Brexit and other changing political priorities across the world stalled the move towards regulatory convergence, or even begun an era of regulatory divergence? How might the asset management industry cope with a world in which regulatory convergence is no longer a priority?
- To what extent will new FinTech and RegTech innovations reshape the global asset management industry and its relationship to national regulators?
10:30 - 11:00 Refreshments
Session Two | Differing Views on Risk: Practitioners and Analysts
11:00 - 13:00
The following panel discussions will focus on the views of practitioners in the asset management industry, and contrast these with analysis from experts from business and academia to identify the most salient political and economic risks for global capital markets, and how industry views of risks compare to external observers.
11:00 Industry practioners' panel
This panel will bring together leaders of global asset managers to discuss the state of their industry.
- What new national and global regulatory initiatives on the horizon are of most concern? Which are overblown?
- How have political events such as the Brexit process and Trump Administration changed previous calculations about the state of global capital markets? After over a year, has a ‘new normal’ begun to develop?
- How have investors’ moods evolved in light of political events? How is the market changing as a result?
- After ten years of ultra-loose monetary policy, how is the asset management industry adapting to the return of tightening interest rates by central banks? How much has changed since the last period of tightening in 2006 and 2007?
12:00 Geopolitical panel
This panel will build off the industry panel discussion, focusing on what political risks are still on the horizon for the asset management industry.
- Will geopolitical turmoil in Asia or the Middle East have significant effects on global markets and global capital flows?
- What are the understated risks to global financial stability in established financial markets? How likely are they to materialize?
- Will populist movements in advanced economies, both on the political left and right change the consensus around regulatory priorities? Will they effectively advocate for decreased trade or capital flows? Will anger at elites lead to a revival of ideas like the financial transactions tax or some form of wealth tax? How might that affect global markets?
13:00 - 14:00 Lunch
Session Three | Brexit and Regulatory Standards in the UK and Europe
14:00 - 15:30
This session examines the implications of the Brexit process on the British and European landscapes, how the two markets might diverge, and the possible new regulatory postures of both markets.
- What are the likely final-state scenarios for UK access to European capital markets and vice versa? How can asset managers prepare for these eventualities during what is likely to be an unpredictable transition?
- Will Brexit lead to greater convergence across the EU-27? Will this give momentum to certain EU initiatives such as the Capital Markets Union or the Pan-European Personal Pension?
- How will the absence of the UK impact the direction of EU regulatory priorities for funds and capital markets? Will the lack of the UK’s strong pro-free market position lead the EU to move into a less friendly regulatory stance? How can investors best hedge against these risks?
15:30 - 16:00 Refreshments
Session Four | Risks and Opportunities in Other Key Markets
16:00 - 17:30
This session will examine other key jurisdictions around the world and the international implications of what is happening in their economies.
- How can growth markets for capital investment replicate models for economic gains in developed economies? What can we learn from success stories and which strategies are needed to deliver value to the real economy and stimulate major global markets?
- How has the relatively poor performance of emerging markets in the last three years affected the investment landscape? Are there any bright spots?
- Is China likely to further liberalise its stance on foreign investment significantly enough to be attractive on a global level?
17:30 Close of conference and drinks reception
© The Royal Institute of International Affairs 2017
Partner, Shearman & Sterling
Secretary General, IOSCO
Professor Erik Berglof
Director, Institute of Global Affairs, LSE
CEO, CSOP Asset Management
Dr Alexandra Hachmeister
Chief Regulatory Officer, Deutsche Börse
Dr Levin Holle
Director General, Financial Markets Policy, Federal Ministry of Finance, Germany
Dame DeAnne Julius DCMG CBE
Senior Adviser, Chatham House and Chair, University College London
Fellow, St John’s College, Oxford and Author ‘Other People's Money’
Visiting Fellow, Global Economy and Finance, Chatham House
Chairman, Autorité des Marchés Financiers
Senior Fellow, Bruegel
Pricing and booking information
Register by Friday 19 January 2018 to benefit from the early booking rate.
Ways to book:
- Online: Click here to complete the online registration form
- Phone: Call Charlie Burnett Rae on +44 (0)20 7957 5727
- Email/Post: Download a PDF registration form, complete and return to Saoirse McKeon via email or post: Chatham House, 10 St. James Square, London, SW1Y 4LE
EARLY RATE (+VAT):
|FULL RATE (+VAT): |
AFTER 19 JANUARY
|Partners and major corporate members|
|Standard corporate members|
|NGOs and academics||£380||£460|
|NGOs and academics||£440|
Your delegate pass includes:
- Conference attendance
- Lunch and refreshments
Travel and accommodation are not included. View a list of recommended hotels here.
If you are interested in becoming a sponsor for this event, please contact
Kamil Hussain on +44 (0) 20 7957 5783.
If you are interested in becoming a media partner for this event, please contact
Ayesha Arif on +44 (0)20 7957 5753.
10 St James's Square
Telephone: +44 (0)20 7314 2785
Fax: +44 (0)20 7957 5710
If you wish to book the venue for your own event please phone +44 (0)20 7314 2764
The nearest tube station is Piccadilly Circus which is on the Piccadilly and the Bakerloo Underground lines. From Piccadilly follow Regent Street southwards towards Pall Mall and take the first road on the right called Jermyn Street. Duke of York Street is the second road on the left and leads to St James's Square. Chatham House is immediately on your right.
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.
13 Half Moon Street
London - W1J 7BH
Tel: + 44 (0)20 7499 2964
Fax: + 44 (0)20 7499 1817
Classic Double without breakfast: £195 +VAT
The Cavendish London
81 Jermyn Street
London - SW1U 6JF
Tel: + 44 (0)20 7930 2111
Fax: + 44 (0)20 7839 2125
Classic Room without breakfast: £205 +VAT
The Stafford London
St James's Place
London - SW1A 1NJ
Tel: 020 7493 0111
Fax: 020 7493 7121
Classic Queen without breakfast: £247 +VAT
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