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

Project number: 2151601

- Online Course -

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Date & pricing

07/06/2021 - 08/06/2021
Register before: 26/05/2021

€ 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 analyses the EU legal framework for the regulation and supervision of financial services and describes how state authorities and financial industry representatives can influence in the adoption procedures of EU financial norms and regulatory standards

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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.

In this online course, 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).

This online course will also show participants the current status in the transposition of the EC’s CAD/CAR IV in the financial sector and the roles played by the SSM and the ECB in banking supervision.

Finally, the different legal proceedings which can be initiated before the Court of Justice of the EU to challenge the legality of the actions of the ESAs, the ECB and the SRB will be thoroughly examined

What will you learn?

Are you working on financial services files and you are keen on gaining a clear overview of the number of regulatory components that compose the so-called EU Financial Services Law? Would you like to know about the adoption mechanisms of the EU financial legal instruments, and who contributed to their adoption? Are you aware the different procedures which can be initiated by natural and legal persons to contest the legality of these EU financial instruments?

Thanks to this online course you will learn about:

  • The EU regulatory framework for financial services;
  • The current institutional setup for the supervision of financial institutions;
  • The difference between the roles of the European Supervisory Authorities and the national supervisory authorities;
  • The growing role of EU agencies in drafting legislation, as well as in ensuring their proper implementation by the Member States;
  • The modus operandi of the EU Banking Union and the role of the European Central Bank and the SSM in supervising EU banks;
  • The judicial remedies available to challenge the legality of the actions of the ESAs, the ECB and the SRB and about recent litigation in financial services.

Course methodology

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

The webinar sessions will be conducted by experts providing a presentation on key topics, illustrated with examples and cases from financial legal practice. All sessions 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.

How will it help you?

By the end of the course, you will:

  • Be able to identify the key competencies of the EU in the financial services area and have a clear overview of its various regulatory components;
  • Develop a better understanding of the decision-making procedures in the area of financial services;
  • Be aware of all the knowledge and expertise that you need to properly implement the EU financial service regulations of relevance to your work;
  • Master the procedural toolkit to contest the EU financial instruments addressed to you or of your individual and direct concern before the Court of Justice of the EU.

Target group

  • Civil servants working in the field of EU financial services
  • Officials in the national regulatory and supervisory authorities
  • Professionals from financial institutions
  • Translators who need to acquaint themselves with the legal terminology used in this sector

Practical information

Online Course
For this online course we make use of Zoom

Programme Organiser
Ms Clare Jaquith
Tel: +352 426 230 303
c.jaquith@eipa.eu

Discounts
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.

For all other participants, the regular fee applies.

Payment
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 webinar
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 regulation and 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 Enforcement Department, European Securities and Markets Authority (ESMA), Paris

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

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

Eugenia Siracusa

12.00 Q & A Session
12.15 Lunch break
13.15 The new EU Institutional Framework for Financial Regulation and Supervision (III)

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

Eugenia Siracusa

13.45 The progressive broadening of ESMA’s direct supervisory powers: the current role of ESMA as pan-European direct supervisor
Eugenia Siracusa
14.15 Discussion
14.30 Break
14.45 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

15.45 Q & A Session
16.00 Interim conclusions of the first day
16.15 End of the 1st day
09.00 Regulatory framework aspects in the EU Financial sector

  • The transposition of the EC’s CAD/CAR IV in the financial sector
  • The case of Banking supervision by the  SSM and the role of the ECB

Fred Reinertz Barriera, Financial Sector Consultant, Luxembourg

10.00 Q & A Session
10.15 Break
10.30 Sources of EU 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
  • Adoption procedures (legislative, ‘comitology’, scrutiny and ‘Lamfalussy’ procedures

Juan Diego Ramírez-Cárdenas Díaz

11.30 Q & A Session
11.45 Lunch break
12.45 General Overview of judicial remedies in the EU

  • The Court of Justice of the EU and its two jurisdictional levels: the Court of Justice and the General Court
  • Legal remedies: action for annulment and action for failure to act
  • The legal standing of individuals before the General Court

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 Challenging the legality of actions taken by the ESAs, the ECB and the SRB

  • 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 and the SRB

Silvère Lefèvre

15.15 Discussion
15.30 Conclusions and end of the seminar