Registration and refreshments

Chairperson’s opening remarks
Sally Springer, Policy Director – Capital Markets, British Bankers’ Association

A view on MiFID II

• How will MiFID impact:
  • Market structure
  • Pre- and post trade transparency
  • Data consolidation
  • Transaction reporting
• Impact across the UK and continental Europe
• MiFID and the impact on the real economy

Chris Bates, Partner, Clifford Chance

The Regulators’ view on MiFID

• How will the final legislation impact UK banks?
• What will be the impact on operating platforms?
• Key regulatory priorities
• Issues for intermediaries
• What market issues remain?
• Measuring the impact on banks

David Lawton, Acting Director of Markets, Financial Services Authority

Coffee

MiFID, global regulatory reform and the costs and implications for capital markets

• An overview of the current regulatory environment including MiFID, CRD4, and EMIR
• MiFID – characteristics and implications
• Examining the interconnectivity and overlap of regulatory reforms across Europe
• What do banks with global/cross-border operations need to know?
• How will firms need to update internal systems to meet the new requirements?

David Kenmir, Partner, PwC
Munib Ali, Director, PwC

Implementing MiFID in the midst of a financial crisis

• What can be gleaned from the implementation of MiFID 1?
• The possible implications for MiFID II:
  • Market competitiveness
  • Trading fees
  • Technology and infrastructure
• Questions around data quality and implementation costs

Diego Valiante, Research Fellow, European Capital Markets Institute (ECMI) | Centre for European Policy Studies (CEPS)

Afternoon Keynote – The European Parliament’s view of the MiFID directive

• What are the lawmakers’ main priorities?
• What will the final legislation look like?
• Implementation considerations

Kay Swinburne, Member of European Parliament (MEP)

Lunch

Assessing the impact on transaction reporting

• How will MiFID impact trading volumes?
• What changes will we see to orders reported?
• What system changes will be required?

Adrian Gill, Regulatory Advisor & Compliance Manager - Compliance, Xtrakter Ltd
Ian Rennie, Head of Regulatory Reporting Control, HSBC

How will market structure and transparency be impacted by MiFID?

• How will secondary market structure changes and new trading venue classifications impact the market?
• How will the introduction of organised trading facilities and systematic internalisers affect the banks?
• What effect will the new rules have on end users?
• Pre- and post-trade transparency framework

Stephen McGoldrick, Director - Market Structure, Deutsche Bank

Coffee

Access of third-country firms to EU markets

• How do revised MiFID proposals impact third-country firms?
• What changes will need to be made for third-country firms to gain access?
• Authorization and registration requirements
• Assessing the new role of the EC and the overall impact on third-country firms

Chris Bates, Partner, Clifford Chance

Panel Discussion: Implications for the market and market users – addressing issues in market structure and investor protection

• Investor protection and the sale of banking products – what does MiFID mean for product development and distribution to end investors
• Production: Deciphering the MiIFD product intervention regime, Implications for product governance, and designing complex products
• Distribution:  The implications for distribution models in key EU member states, independent financial advice, PRIPs and dealing with retail investors
• Market structure and MiFID’s implication for market users
  • High frequency trading
  • Automated trading firms and control systems – what changes are needed?
  • Practical implications, including allocation of resources in preparation for new requirements
• What amendments are needed to address market users needs?

Moderator:  Sally Springer, Policy Director – Capital Markets, British Bankers’ Association
Martin Parkes, Director – Government Affairs and Public Policy, BlackRock
Bill Eldridge, Global Head of Regulatory Affairs, Royal Bank of Scotland Global Banking and Markets

Audience Q&A
Martin Parkes, Director – Government Affairs and Public Policy, BlackRock
Bill Eldridge, Global Head of Regulatory Affairs, Royal Bank of Scotland Global Banking and Markets

Chairperson’s closing remarks and close of conference
Sally Springer, Policy Director – Capital Markets, British Bankers’ Association