EU Financial Services Law for Non-Lawyers: Institutional and Regulatory Framework

Project number: 1951601

To be confirmed, Luxembourg (LU)

Date & pricing

14/11/2019 - 15/11/2019
Register before: 24/10/2019

€ 1.000,00 per attendee

€ 900,00 for EIPA members*

EU Financial Services Law for Non-Lawyers: Institutional and Regulatory Framework

From:  900,00

This seminar will offer you a better understanding of the regulatory and supervisory framework for financial services. You will learn about the roles and powers of different institutions involved in the regulation of financial markets.

About this seminar

In April 2019, the European Institutions reached an 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 seminar 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 is this course for

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.

Course methodology/highlights:

The seminar will consist of presentations, question & answer sessions and a workshop. The objectives of this seminar 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.

Practical information

Course venue
To be confirmed

Programme Organiser
Ms Juliette Boussuge-Mollicone
Tel: +352 426 230 304
j.boussuge@eipa.eu

Fee
The fee includes documentation and refreshments. Lunches, a reception or dinner are included if mentioned in the programme. Accommodation and travel costs are at the expense of the participants or their administration.

Discounts
EIPA offers a 10% discount to all civil servants working for one of EIPA’s supporting countries, and civil servants working for an EU institution, body or agency.

Early bird discount
For this course, EIPA offers an early bird discount of 50 euro. The early bird deadline is 3 October 2019.

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.

Meals
Special dietary requirements (e.g. vegetarian, diabetic) can be indicated once you receive the confirmation of the seminar.

Hotel reservations

EIPA has special price arrangements with a number of hotels. All rates are including breakfast and tourist tax. Should you wish to make use of this possibility, please book directly via the links below. Payment is to be made directly and personally to the hotel upon checking out. At the time of booking, please mention in the requested field the reservation code: EIPA, unless indicated otherwise.

Kirchberg

City Centre

Railway Station Area

  • Hotel City****, at the rate of €189 (Monday to Thursday) and €150 (Friday to Sunday), tel.: +352 29 11 22; e-mail: mail@cityhotel.lu; cityhotel.lu (Reservation code: EIPA)

Surroundings

Payment
Prior payment is a condition for participation.

Cancellation policy
For administrative reasons you will be charged €150 for cancellations received within 15 days before the activity begins. There is no charge for qualified substitute participants.

EIPA reserves the right to cancel the activity up to 2 weeks before the starting date. In that case, registration fees received will be fully reimbursed. EIPA accepts no responsibility for any costs incurred (travel, accommodation, etc.). 

The programme

Legal framework for financial services
08.30 Registration
09.00 Welcome and mutual introduction
Alina Domaradzka, Lecturer, European Centre for Judges and Lawyers, EIPA Luxembourg (LU)
09.30 EU Institutional Framework for Financial Regulation and Supervision (I)

  • Institutional framework for macro- and micro-prudential supervision at EU level –European System of Financial Supervision (ESFS)
  • 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 Discussion
10.45 Coffee break
11.00 EU Institutional Framework for Financial Regulation and Supervision (II)

  • Legal basis, powers and competences of the European Supervisory Authorities (ESAs)
  • 8 years on – practical experiences with the ESFS: what has been achieved? What is still ongoing? Examples from ESMA

Eugenia Siracusa

11.45 Discussion
12.15 Lunch break
13.45 The reform of the ESFS and the outlook for the future – Panel discussion

Eugenia Siracusa and Fred Reinertz Barriera, Financial Sector Consultant, Luxembourg

15.00 Coffee break
15.30 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

Igor Dizdarevic, Lecturer, European Centre for Judges and Lawyers, EIPA Luxembourg

17.00 End of the first seminar day followed by a cocktail
Decision-making and litigation in the financial services area
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

Alina Domaradzka

10.30 Coffee break
10.45 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

Alina Domaradzka

12.15 Lunch break
13.45 Case study: Decision-making for the adoption of Level 1 and Level 2 acts

Alina Domaradzka and participants

14.45 Coffee break
15.00 Challenging the Legality of ESAs Actions

  • Actions against EU agencies before EU courts
  • Legal remedies for individuals
  • Examples of recent case law

Igor Dizdarevic

16.30 Q & A session

Alina Domaradzka, Igor Dizdarevic and participants

17.00 End of the seminar
THURSDAY 14 NOVEMBER 2019
08.30 Registration of participants
 
09.00 Welcome of participants
Alina Domaradzka, Lecturer, European Centre for Judges and Lawyers, EIPA Luxembourg (LU)
09.30 EU Institutional Framework for Financial Regulation and Supervision (I)
Eugenia Siracusa, Legal Officer, Legal, Convergence & Enforcement, European Securities and Markets Authority (ESMA), Paris
10.30 Questions and answers
10.45 Coffee break
 
11.00 EU Institutional Framework for Financial Regulation and Supervision (II)
Eugenia Siracusa
11.45 Questions and answers
12.15 Lunch break
13.45 8 years on – practical experiences with ESFS
Eugenia Siracusa
15.00 Coffee break
15.30 ESAs as Entities Subject to EU Administrative Law
Juan Diego Ramírez-Cárdenas Díaz, Senior Lecturer, European Centre for Judges and Lawyers, EIPA Luxembourg (LU
17.00 End of the first seminar day and reception
FRIDAY 15 NOVEMBER 2019
09.00 Sources of Financial Services Law
Alina Domaradzka
10.30 Coffee break
10.45 Procedures for the Adoption of Level 1 and Level 2 Acts (DA and IA)
Alina Domaradzka
12.15 Lunch break
13.45 Workshop: Recognising Level 1 and Level 2 acts
Alina Domaradzka and participants
14.45 Coffee break
15.00 Challenging the Legality of ESAs Actions
Juan Diego Ramírez-Cárdenas Díaz
16.30 Q&A session
Alina Domaradzka, Juan Diego Ramírez-Cárdenas Díaz and participants
17.00 End of the seminar

Course venue
European Centre for Judges and Lawyers – EIPA Luxembourg
Chambre des Métiers Building
Circuit de la Foire Internationale, 2
1347 Luxembourg

Programme Organiser
Ms Juliette Boussuge-Mollicone
Tel: +352 426 230 304
j.boussuge@eipa.eu

Fee
The fee includes documentation and refreshments. Lunches, a reception or dinner are included if mentioned in the programme. Accommodation and travel costs are at the expense of the participants or their administration.

Discounts
EIPA offers a 10% discount to all civil servants working for one of EIPA’s supporting countries, and civil servants working for an EU institution, body or agency.

Early bird discount
For this course, EIPA offers an early bird discount of 50 euro. The early bird deadline is 3 October 2019.

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.

Meals
Special dietary requirements (e.g. vegetarian, diabetic) can be indicated once you receive the confirmation of the seminar.

Hotel reservations
EIPA has special price arrangements with a number of hotels. All rates are including breakfast and tourist tax. Should you wish to make use of this possibility, please book directly via the links below. Payment is to be made directly and personally to the hotel upon checking out. At the time of booking, please mention in the requested field the reservation code: EIPA, unless indicated otherwise.

Kirchberg

City Centre

Railway Station Area

  • Hotel City****, at the rate of €189 (Monday to Thursday) and €150 (Friday to Sunday), tel.: +352 29 11 22; e-mail: mail@cityhotel.lu; cityhotel.lu (Reservation code: EIPA)

Surroundings

Confirmation
Confirmation of registration will be forwarded to participants on receipt of the completed online registration form.

Payment
Prior payment is a condition for participation.

Cancellation policy
For administrative reasons you will be charged €150 for cancellations received within 15 days before the activity begins. There is no charge for qualified substitute participants.

EIPA reserves the right to cancel the activity up to 2 weeks before the starting date. In that case, registration fees received will be fully reimbursed. EIPA accepts no responsibility for any costs incurred (travel, accommodation, etc.).