Uni.lu professor of financial market law Pierre-Henri Conac has obtained funding from the FNR to address the current and future possible role of the International Organisation of Securities Commission (IOSCO) in cross-border regulation, equivalence, and financial market access, and issues surrounding the United Kingdom’s access to the EU’s single financial market following Brexit.
The FNR-funded conference, to be held at the Luxembourg Chamber of Commerce on 5 October 2018, will host speakers and participants from around the EU, the European Economic Area (EEA) and the world. The topic is based on a 2015 report on cross-border regulation issued by an IOSCO Task Force. This report outlines the tools to achieve a worldwide level playing field in securities markets and mutual recognition of regimes among jurisdictions.
Also known as equivalence, the recognition of foreign regulatory regimes is crucial to foreign firms and issuers to do business in a host country without having to apply two sets of rules. In light of Brexit, equivalence has become crucial in Europe. However, the EU Commission appears reluctant to grant a general equivalence to the UK. The scope of the equivalence granted to the UK, and in the future to other third countries, will have tremendous impact for Luxembourg.
The conference, organised by Prof. Conac in association with MPI Luxembourg, will scrutinise a debate that has up until now mostly been carried out behind closed doors and will propose and discuss solutions to address this challenge.
Speakers will include recognised experts in the field, including the vice-chair of IOSCO, top academics and practitioners from the field, including regulators, supervisory bodies and the financial sector.
The proposal was rated “Excellent” by the FNR’s selection committee and the conference will benefit from funding under the RESCOM scheme, aimed at supporting the organisation of international conferences and lecture series in Luxembourg.
The full programme and registration details are available on the event page.