EU Financial Services Law for Non-Lawyers: Institutional and Regulatory Framework – What’s New?

Project number: 2051601

- Online Course -

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Date & pricing

19/11/2020 - 20/11/2020
Register before: 17/11/2020

€ 700,00 per attendee

€ 630,00 for EIPA members*

EU Financial Services Law for Non-Lawyers: Institutional and Regulatory Framework – What’s New?

From:  630,00

This online course will enhance your knowledge about the legal framework for the regulation and supervision of financial services. You will learn about the different roles and powers of various institutions participating in the decision-making process at the EU level as well as about the possibilities of the Member States to intervene in this process.

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About this online course

In March 2019, the European Parliament and the Member States reached a political agreement to reform the current system of financial supervision with a view of strengthening the macro- and micro-prudential supervision at the EU level. This online course explains the legal system for financial services regulation and supervision before and after the reform and it clarifies the distribution of competences between the national and the EU level and the implementation of laws at both levels. The participants will learn about the respective roles and powers of various actors involved in the decision-making in financial services, with a particular emphasis on the tasks of the EU supervisory authorities (ESAs). On the basis of practical examples, the participants will have the opportunity to discuss the concrete actions taken by the ESAs, their first achievements as well as clear lessons for improvement.

Who will most benefit?

EU regulatory affairs professionals, officials in the national regulatory and supervisory authorities; professionals from financial institutions who wish to obtain solid understanding of fundamental legal concepts, principles and procedures in EU financial services; translators who need to acquaint themselves with the legal terminology as well as other professionals wishing to systematise their knowledge of financial markets regulation.

Methodology of the online course

The online course will be delivered by means of live streaming during two consecutive days via ZOOM.

The online course sessions will be conducted by experts providing a presentation on key topics. They will be followed by Q&A periods allowing for the exchange of ideas and discussion periods where participants will have the possibility to share professional experiences.

The objectives of this online course are three-fold:

  • To present the institutional set-up for the regulation and supervision of financial institutions, the system of regulation and decision-making in financial services;
  • To discuss the first lessons learned from the ESAs activities, the ongoing reform and the outlook for the future;
  • To inform about the legal remedies available to challenge the legality of ESAs actions and to discuss the recent litigation in financial services.

The online course will consist of presentations, question & answer sessions and a panel discussion.

Practical information

Online Course
For this online course we make use of Zoom

Programme Organiser
Ms Juliette Boussuge-Mollicone
Tel: +352 426 230 304

EIPA offers a discount to all civil servants working for one of EIPA’s supporting countries, and civil servants working for an EU institution, body or agency.

Who are the supporting countries?
Civil servants coming from the following EIPA supporting countries are entitled to get the reduced fee: Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Lithuania, Luxembourg, Malta, the Netherlands, Norway, Poland, Portugal, Spain, Sweden, United Kingdom.

For all other participants, the regular fee applies.

Prior payment is a condition for participation.

Cancellation policy
For administrative reasons you will be charged € 50 for cancellations received within 7 days before the activity begins. There is no charge for qualified substitute participants.

EIPA reserves the right to cancel the activity up to 1 week before the starting date. In that case, registration fees received will be fully reimbursed.

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The programme

09.00 Registration of participants
09.15 Welcome and introduction to the online course
Juan Diego Ramírez-Cárdenas Díaz, Senior Lecturer, European Centre for Judges and Lawyers, EIPA Luxembourg
09.30 The new EU Institutional Framework for Financial Regulation and Supervision (I)

  • Institutional framework for macro- and micro-prudential supervision at EU level – the European System of Financial Supervision (ESFS) following the 2019 review
  • Key functions of the European Systemic Risk Board (ESRB)

Eugenia Siracusa, Legal Officer, Legal, Convergence & Enforcement, European Securities and Markets Authority (ESMA), Paris

10.30 Q & A Session
10.45 Break
11.00 EU Institutional Framework for Financial Regulation and Supervision (II)

  • Legal basis, powers and competences of the European Supervisory Authorities (ESAs)

Eugenia Siracusa

11.45 Q & A Session
12.00 Lunch break
13.00 The progressive broadening of ESMA’s direct supervisory powers: the current role of ESMA as pan-European direct supervisor
Eugenia Siracusa and Fred Reinertz Barriera, Financial Sector Consultant, Luxembourg
14.00 Discussion
14.15 Break
14.30 ESAs as Entities Subject to EU Administrative Law

  • Legal status of ESAs as EU agencies
  • Main principles governing the functioning of ESAs and their operations vis-à-vis external stakeholders – Principle of subsidiarity and proportionality

Juan Diego Ramírez-Cárdenas Díaz

15.30 Q & A Session
15.45 Interim conclusions of the first day
16.00 End of the 1st day
09.00 Sources of Financial Services Law

  • Level 1 acts: Legislative acts
  • Level 2 acts: Delegated acts (DA) and Implementing acts (IA)
  • Regulatory technical standards (RTS) and Implementing technical standards (ITS)
  • Role of non-binding legal acts: Guidelines, Recommendations, Q&A

Expert to be confirmed

10.00 Q & A Session
10.15 Break
10.30 Procedures for the Adoption of Level 1 and Level 2 Acts

  • Legislative procedure for the adoption of Level 1 measures
  • Comitology procedure for the adoption of IA
  • Scrutiny procedure for the adoption of DA
  • Lamfalussy procedure for the adoption of RTS and ITS

Juan Diego Ramírez-Cárdenas Díaz

11.30 Q & A Session
11.45 Lunch break
12.45 Challenging the legality of actions taken by the ESAs and the ECB

  • Actions for annulment against the ESAs – legal framework after 2010
  • New decision-making powers for ESMA – legal remedies at the disposal of the individuals
  • Banking Union and the most recent case law involving the ECB

Silvère Lefèvre, Legal Secretary at the General Court, Court of Justice of the EU, Luxembourg

13.45 Q & A Session
14.00 Break
14.15 General Overview of judicial remedies in the EU
Silvère Lefèvre
15.15 Discussion
15.30 Conclusions and end of the online course