[ON INVITATION ONLY]
On Thursday 20 February from 08:00 to 09:30 am, the EACB will organise a breakfast debate at the European Parliament on the topic of "MiFID II review: Towards a more effective framework respecting diversity and consumer choice", kindly hosted by MEP Markus Ferber.
Background & scope
In anticipation of the European Commission’s mandated review of MiFID II and MiFIR, this breakfast debate shall serve as an opportunity to discuss what regulatory changes are required in EU legislation in order to achieve the goal formulated in the European Commission’s Capital Markets Union action plan of ‘Fostering retail investment’. The ultimate objective of this goal was to increase retail investors’ access to finance through better transparency, comparability of disclosures between financial entities and their products, and giving retail investors a better return on their investments subject to effective risk and costs management.
The experience gathered by co-operative banks since January 2018 has shown that MIFID II/MIFIR in their current form are overshooting the mark and have created some counterproductive side effects. Indeed, they have observed a withdrawal of retail investors from investment services and a reduction in product offers.The breakfast aims at debating market evidence and what targeted adjustments to MIFID II/MIFIR are needed to overcome these side-effects.
The following questions will be adressed:
- How to ensure continued access of retail clients to capital markets?
- How to ensure availability of capital for SMEs?
- How to ensure supply side diversity?
Agenda (8h00-9h30)
Opening and welcome
- Markus FERBER, Coordinator & Member of ECON Committee, European Parliament
- Hervé GUIDER, General Manager, European Association of Co-operative Banks
Statements
- Markus FERBER, Coordinator & Member of ECON Committee, European Parliament
- Tilman LUEDER, Head of Unit - Securities Markets, DG FISMA, European Commission
- Hervé GUIDER, General Manager, European Association of Co-operative Banks
- Giuseppe ZAGHINI, Chair, EACB Financial Markets Working Group and Head of Regulatory Coordination, Iccrea Banca
Discussion with the audience
Moderation and Conclusion
- Hervé GUIDER, General Manager, European Association of Co-operative Banks
[ON INVITATION ONLY]
For more information, please contact the EACB Secretariat