An Update On EU Financial Services Legislation & Associated Initiatives
Webinar
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The speaker, Dr. David Doyle, began the year by outlining the key issues facing the European Union in financial services legislation. Despite positive statements from the European Central Bank regarding inflation, the EU faces fragmented and polarized political elections and a shift in the European Parliament towards the center-right, potentially challenging green initiatives. The speaker highlighted the need to address the challenges outlined in Mario Draghi's competitiveness report, focusing on reducing administrative burdens and reporting requirements. He also addressed the potential impact of the US elections on the EU's strategic business interests, emphasizing the importance of strategic autonomy and local supply chains. While there is significant support for green investments, there is also increasing hostility towards ESG disclosure ambitions, leading to potential consolidation and simplification of reporting requirements. The speaker also discussed the EU Artificial Intelligence Act, emphasizing the need for refinements and the responsibility of AI creators for misuse. He noted the divergence between the US and EU in financial services regulation and the challenges of underdeveloped capital markets in Europe. The speaker also touched on the importance of the EU-UK trade and cooperation agreement and the need for interoperability in standards. He highlighted the role of the new commissioner, Maria-Louise Albuquerque, and her focus on implementing Basel III banking capital requirements and addressing the expansion of private markets. Finally, the speaker emphasized the importance of implementing the anti-money laundering strategy and the Digital Operational Resilience Act (DORA), particularly in relation to third-party ICT providers.
Background: A regular speaker at the FS Club, EU Regulatory Expert David Doyle is back to give a new year update on the EU financial services regulatory agenda.
He will be covering some of the most contentious and game-changing pieces of EU legislation in the financial services space, notably:
- Priorities of the new EC and the EU Parliament going into the new mandate
- 8 days to go before the application of DORA - are financial entities ready?
- The ECB SSM focus under the 2025 Supervisory Review and Evaluation Process (SREP)
Speaker:
Dr David Doyle is known across Europe as a leading expert on EU financial services regulation and long-standing speaker at the Financial Services Club. A former diplomat with over 20 years of service on mainland Europe at bilateral and multilateral level, he now acts as an EU Policy Advisor between Brussels and London, specialising in regulatory developments in banking, fund management and insurance.
He is a member of the Executive Board of the joint MEP-EU industry advocacy body, The Kangaroo Group at the European Parliament, holds a seat on the Board of Directors of the Genesis Initiative at Westminster that promotes entrepreneurship and SME policy, as well as being active in the Transatlantic Business Council on Capital Markets and the Conference Board Corporate Governance Council.
Speaker(s):
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Dr David Doyle
Board, Kangaroo Group (EU Parliament)
EU Policy Director, The Genesis Initiative
Chairman:
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Professor Michael Mainelli
Chairman
Z/Yen Group