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Jan
14
Tue
Online seminar – Three turning points in the growth of the AML architecture @ FBF Online Platform
Jan 14 @ 1:00 pm – 2:00 pm

Download the presentation by Peter Alldridge

Download the presentation by Nikita Divissenko

 

In this online seminar, Peter Alldridge (Drapers’ Professor of Law at Queen Mary University of London) will draw attention to three steps which in hindsight were decisive in the growth of the AML industry. At the time, those seemed to be small incremental steps, but were radical conceptual changes in the structure of laundering crimes, and whose consequences remain. They are:

  • (i) the move beyond treating drugs offences as the only foundation of money laundering, to a far wider category;
  • (ii) the move towards regarding laundering as an independent wrong rather than a form of complicity in the predicate and
  • (iii) the move to include tax offences among the grounds for laundering.
In his talk, Professor Alldridge will reflect upon their significance, engaging with questions from the audience in the Q&A session that will follow.

 

Speaker

Peter Alldridge
Peter Alldridge has been Drapers’ Professor of Law at Queen Mary University of London since 2003 and was Head of the Department of Law (from 2008-2012). He was Specialist Adviser to the Joint Parliamentary Committees on the draft Corruption Bill (2003) and the draft Bribery Bill (2009) and was made a Fellow of the Academy of Social sciences in 2014. He has published widely in the areas of criminal law, evidence, legal education, law and information technology, medical law and law and disability. He is the author of Relocating Criminal Law (2000), Money Laundering Law (2003), What went Wrong with Money Laundering Law? (2016), and Taxation and Criminal Justice (2017). He acted as an expert on corporate criminal liability for the UN in Indonesia in 2017. He was President of the Society of Legal Scholars In 2017-18.

 

 

Commentator

Nikita Divissenko
Nikita Divissenko is a Ph.D. researcher at the Law Department of the European University Institute (EUI). He is also a coordinator of the Finance, Innovation and Regulation Working Group. He holds LL.M degrees in European, International and Comparative Law from the EUI and from Leiden University (cum laude). Nikita is a qualified lawyer admitted to the Estonian Bar (since 2014) and has been a practicing lawyer in Tallinn (Estonia) specialising in banking and financial law prior to joining the institute. His Ph.D. project deals with the legal challenges arising from regulating technological innovation, and his research interests include economic regulation (incl. financial regulation), innovation and regulatory theory, AML and payments law.

 

 


 

Technical disclaimer

The online seminar will take place on the Adobe Connect platform. You can access the seminars from personal computers, laptops, tablets and smartphones. You are strongly encouraged to read the technical requirements before registering for the online seminar. To ensure an optimal experience in terms of connection speed and video quality, we suggest to attend the seminar via a device connected to a stable network connection, avoiding if possible shared wi-fi or mobile connections.
Feb
3
Mon
Models for Financial Stability and Prudential Policy @ EUI Premises, Florence
Feb 3 – Feb 5 all-day

Course dates: 3-5 February 2020

Place: EUI Premises, Florence

Course Instructors: Jean-Charles Rochet (University of Geneva), Bruno Maria Parigi (University of Padova)

Area: Financial Stability and Macroprudential policy

Level: Intermediate/Advanced

Target: Financial stability and research department of Central Banks, Ph.D. and Post-doctoral researchers, Assistant Professors, Research departments of private banks, EU officials.

More information and registrations
Feb
10
Mon
Online debate – A European Perspective on Securitisation @ FBF Online Platform
Feb 10 @ 4:00 pm – 4:45 pm

Slides by Bart Joosen

Slides by Richard Hopkin

Slides by Simon Broxham

 

Securitisation is a technique that financial actors can use to create liquid instruments from a range of real economy-related illiquid products, allowing them, amongst others, to liberate regulatory capital on their balance sheets or to generate an alternative source of funding. Knowing the rules underpinning securitisation is crucial to understand the roles played by market participants and regulatory institutions, and how they can act to maximise their benefits and minimise their risks.

This online debate will engage with both the practical and regulatory dimensions of securitisation. In particular, the debate will review the key characteristics of the current regulatory frameworks for securitization in Europe. Speakers will highlight the historical evolution – the 2008 financial crisis and the revision of the rules undertaken in 2015-2019. They will also discuss the need for transparent and simple rules to ensure financial stability on the one hand and the need to keep the regulatory burden sufficiently proportionate in order not to undermine market development on the other.

Lastly, the debate will also review the current securitisation trends – both in the US and in Europe – on the basis of recent data and in the context of the European Capital Markets Union reboot.

 

Speakers

Bart Joosen
Bart JoosenProf. dr. Bart P.M. Joosen is a professor of Financial Supervision Law at the VU University Amsterdam and founder of Regulatory Counsel Financial Services. He is also President of the Academic Board of the European Banking Institute. He has expertise on financial services supervision with a focus on micro-prudential supervision of banks, insurance companies and investment firms and payment services. Previously to working as a lawyer in private practice, he worked as in-house legal counsel at Philips Electronics in Eindhoven. Bart Joosen holds a position as non-executive board member of Santander Consumer Finance Benelux and is furthermore active in a number of other positions. He graduated from Tilburg University in 1987 and was promoted to doctor in law science (PhD) at the same university in 1998. He completed the post-academic education Finance and Securities Interest at the Grotius Academy and the Harvard Business School ‘Leadership Skills Programme’.

 

Simon Broxham
Simon BroxhamSimon Broxham has over 25 years’ experience in financial markets as a trader, structurer and managing director specialising in credit, securitisation and interest rate markets. For well over a decade he led the European credit business for Bank of Montreal in London, managing a multi-billion dollar complex credit derivative and structured credit portfolio during and after the Global Financial Crisis. After successfully winding down this large portfolio Simon established and managed for a number of years a client-focussed credit trading business consisting mainly of European financials and corporate bonds. built a client focussed credit business. Simon is the Director of Duver Consulting advising banks, asset managers and fintech companies on regulatory and market change projects and offering training in aspects of wholesale markets. Simon holds MA and MEng degrees in Engineering from the University of Cambridge.

 

Richard Hopkin
Richard HopkinRichard Hopkin is Head of Fixed Income and a managing director in the Securitisation Division at the Association for Financial Markets in Europe (AFME). Richard joined AFME in June 2010 after a 25-year career in the law and finance during which he held leadership positions at J.P. Morgan, Deutsche Bank and Société Générale. He has originated, structured and distributed securitisations funding the real economy through a wide variety of asset classes including mortgages, credit cards, auto, consumer and SME loans, from across Europe, Australia and the US. Richard has led and negotiated industry positions on many critical regulatory initiatives in recent years, including most recently the new standard for “simple transparent and standardised securitisation” in Europe. A frequent visitor to Brussels, he has helped rehabilitate the securitisation industry in the eyes of key European policymakers and continues to be a strong advocate for the benefits of securitisation for the European economy. Born and brought up in Wales, Richard read law at Cambridge University and before his investment banking career qualified as a solicitor with leading international law firm Clifford Chance.

 


 

Technical disclaimer

The online seminar will take place on the Adobe Connect platform. You can access the seminars from personal computers, laptops, tablets and smartphones. You are strongly encouraged to read the technical requirements before registering for the online seminar. To ensure an optimal experience in terms of connection speed and video quality, we suggest to attend the seminar via a device connected to a stable network connection, avoiding if possible shared wi-fi or mobile connections.
Feb
12
Wed
From Bank Recovery to Bank Resolution @ EUI Premises, Florence
Feb 12 – Feb 14 all-day

Course dates: 12-14 February 2020

Place: EUI Premises, Florence

Course Instructors: Jens-Hinrich Binder (Eberhard Karls University of Tübingen); Ralf Bock (European Central Bank); Svetlana Dimova (BaFin); Katerina Theodossiou (Bank of Greece); Jean-Jacques Van Helten (Robert Schuman Centre, EUI)

Area: Regulation, Supervision and Resolution

Level: Introductory/Intermediate

Target: EU Officials (ECB, SSM, SRB, ESRB, EBA, ESM), National Supervisory Authorities, financial stability and research department of Central Banks, Ph.D. students, financial institutions in the private sector, law firms.

More information and registrations
Feb
17
Mon
Online seminar – Emergency Liquidity Assistance in the Eurosystem @ Online
Feb 17 @ 1:00 pm – 2:00 pm

Download the presentation by Christos Gortsos


Last-resort lending is usually understood as the provision of liquidity by central banks to individual solvent banks in exceptional circumstances, on a temporary basis and against adequate collateral. Since it constitutes a liquidity crisis management instrument, it is distinguished from monetary policy measures implemented by central banks. As part of a traditional approach often referred to as ‘constructive ambiguity’, the conditions under which central banks may exercise their power to act as lenders of last resort are not set out explicitly in legislative or regulatory provisions. This applies also in the context of the Eurozone, since the provision of central bank credit in the form of Emergency Liquidity Assistance (ELA) to solvent credit institutions established in the euro area is not provided for in the EU Treaties. The relevant procedural arrangements are indeed laid down in the 2017 ECB “Agreement on emergency liquidity assistance” which Prof. Gortsos has comprehensively analysed as part of his upcoming book European Central Banking Law – The Role of the European Central Bank and National Central Banks under European Law (Palgrave Macmillan). Against this background, Prof. Gortsos will engage with the following questions in this online seminar:
  • Who provides Emergency Liquidity Assistance (ELA) in the Eurosystem and under which conditions?
  • When and where was ELA provided during the euro crisis and what have we learned from these episodes?
  • When and how can ELA provision interfere with the objectives and tasks for the Eurosystem?
As always, the presentation will be followed by a Question and Answers session with seminar participants.  

Speaker

Christos Gortsos

Christos Gortsos is Professor of Public Economic Law at the Law School of the National and Kapodistrian University of Athens, as well as member of the Academic Board of the European Banking Institute (EBI). He studied law, economics and finance at the Universities of Athens, Zürich, Pennsylvania (Wharton Business School) and Geneva (Graduate Institute of International Studies). The main fields of his research, teaching and publications include central banking law, financial regulation and institutional economics. He is a main instructor in the Florence School of Banking and Finance’s upcoming (23-25 March) course on Liquidity: Regulation, Practice and Stress Testing.

       

Commentator

Vítor Constâncio

Vítor Constâncio was Vice-President of the European Central Bank from 1 June 2010 to May 2018. In the Portuguese Government, he was Secretary of State for the Budget and Planning in 1974 -76 and Finance Minister in 1977-78. At the central bank of Portugal, he was Director of the Economics Department, Deputy Governor and then from 2000 to 2010, Governor of the Banco de Portugal and consequently, member of the European Central Bank Governing Council. He was Assistant Professor at the Lisbon School of Economics and Management (ISEG), University of Lisbon, from 1968 to 1973 and later, coordinator Professor of the Master´s degree on Monetary Policy from 1989 to June 2010. He is now President of the School Board at ISEG and Professor at the Master’s Degree in Banking and Financial Regulation at the School of Economics, University of Navarra, Madrid, and member of the respective Advisory Board.

   
 

Technical disclaimer

The online seminar will take place on the Adobe Connect platform. You can access the seminars from personal computers, laptops, tablets and smartphones. You are strongly encouraged to read the technical requirements before registering for the online seminar. To ensure an optimal experience in terms of connection speed and video quality, we suggest to attend the seminar via a device connected to a stable network connection, avoiding if possible shared wi-fi or mobile connections.
Mar
9
Mon
POSTPONED: Lecture by Lorenzo Bini Smaghi: ‘Creating a True Capital Market Union’ @ Palazzo Incontri
Mar 9 @ 4:00 pm – 7:00 pm

 

EVENT POSTPONED
The event is postponed to a date to be communicated, in accordance with the disposition by the Italian government to contain the spread of the COVID-19 virus
(Decreto Presidenza del Consiglio dei Ministri del 4 marzo 2020, Art 1.1.a)

 

 

The Florence School of Banking and Finance, Fondazione CESIFIN Alberto Predieri and Fondazione CR Firenze are organising a high-level lecture by Lorenzo Bini Smaghi, President of Société Générale.
 

There is a broad consensus among policy makers, academics and market practitioners that the Eurozone requires a deep and liquid capital market to foster economic integration, to absorb shocks and to support growth. However, there is little understanding of what needs to be done to achieve such a goal.

A comparison with the US experience shows that there are some necessary conditions that need to be met for a true capital market to be created. Dr. Bini Smaghi will mention the following five:

  1. the complementarity with full banking union;
  2. the creation of a safe asset;
  3. the support of public schemes for lending, in particular to SMEs;
  4. a regulatory environment that allows for market-making;
  5. a unified supervisory framework.

Unless the member states are willing to adopt concrete steps in these areas, the CMU will not be created. This is the reason why the European Commission has to be clear and outspoken in presenting policy makers with clear and bold proposals.

 

(italian version)

Verso la creazione di una vera Unione dei mercati dei capitali

 Esiste un largo consenso tra decisori politici, accademici e operatori nel mercato, in merito alla necessità di un mercato dei capitali nell’Eurozona, integrato e liquido, che possa promuovere l’integrazione economica, assorbire gli shock e favorire la crescita. Ciò nonostante, non esiste una visione condivisa in merito alla modalità in cui questo obbiettivo può essere raggiunto. Un’analisi della situazione negli Stati Uniti dimostra quali sono le condizioni necessarie per la creazione di un vero mercato dei capitali. Nel corso della lezione, Lorenzo Bini Smaghi ne menzionerà cinque: i) la complementarietà con una piena unione bancaria; ii) la creazione di un ‘safe asset’; iii) il supporto a schemi pubblici di prestito, in particolare alle PMI; iv) un ecosistema regolamentario che renda possibile la costruzione di mercati; v) una struttura unificata di supervisione. A meno che gli Stati membri non vogliano agire concretamente in queste aree, l’Unione dei mercati dei capitali non potrà essere creata. Questa è la ragione per la quale la Commissione Europea dev’essere diretta nel presentare trasparenti e audaci proposte ai decisori politici.

 
 

Speaker

Lorenzo Bini Smaghi

Chairman of Société Générale

He started his career in 1983 as an Economist in the Research Department of the Banca d’Italia. He moved in 1994 to the European Monetary Institute, to head the Policy Division, preparing for the creation of the ECB. In 1998 he was appointed Director General for International Affairs in the Italian Treasury. From June 2005 to December 2011 he was a Member of the Executive Board of the European Central Bank.

Over the last 20 years he held the positions of Chairman of Italgas, SNAM and SACE, and member of the Board of Finmeccanica, MTS, the European Investment Bank and Morgan Stanley International. He has been Visiting Scholar at Harvard’s Weatherhead Center for International Affairs and the first Chairman of Fondazione Palazzo Strozzi, a cultural institution in Florence.

He has been appointed CEPR Distinguished Fellow, Senior Fellow at LUISS School of European Political Economy in Rome, and President of the Italian Alumni of the University of Chicago. He is a member of the World Economic Forum’s Community of Chairmen, and independent member of the Board of Tages Holding. He holds a Bachelor’s Degree in Economics from the Université Catholique de Louvain (Belgium), a Master’s degree from the University of Southern California and a Ph.D in Economics from the University of Chicago.

He is author of several articles and books on international and European monetary and financial issues (available at www.lorenzobinismaghi.com), in particular “Austerity: European Democracies against the Wall” (CEPS, July 2013), “33 false verità sull’Europa” (Il Mulino, April 2014) and “La tentazione di andarsene: fuori dall’Europa c’è un futuro per l’Italia?” (Il Mulino, May 2017).

 

Programme

 
  • 16:00 Registration and welcome coffee
  • 16:35 Opening remarks
    • Ginevra Cerrina Feroni (Professor, Law Department, University of Florence; Vice-President, Fondazione CESIFIN Alberto Predieri)
    • Pierre Schlosser (Scientific Coordinator, Florence School of Banking and Finance)
  •  16:55 Lecture Lorenzo Bini Smaghi (President, Société Générale)
  • 17:35 Discussion, followed by questions and answers
    • Moderated by Ferdinando Giugliano (Bloomberg)
      • Lorenzo Stanghellini (Professor of Business Law, University of Florence)
      • Giacomo Calzolari (Professor, Economics Department, European University Institute)
  • 18:50 Closing remarks
    • Renaud Dehousse (President, European University Institute)
    • Luigi Salvadori (President, Fondazione CR Firenze)
  • 19:10 Cocktail for all participants
 

The event will be in italian, with simultaneous translation in English. / L’evento si terrà in italiano, con traduzione simultanea in inglese.

  Download the programme  
 

EVENT CO-ORGANISED WITH

Fondazione CESIFIN Alberto Predieri

Fondazione CR Firenze

Mar
12
Thu
Online Seminar – Valuation in Resolution @ Online
Mar 12 @ 1:00 pm – 2:00 pm

Presentation by the SRB

Presentation by the EBA


In this online seminar Boštjan Jazbec and Jose Carlos Molina Franquelo (Single Resolution Board) will provide an update on valuation in resolution, including a description about how Europe’s Single Resolution Board plans to embed valuation preparedness into resolution planning activities and the proposed approach regarding improvement of the Management Information System (MIS) for valuation. The seminar will also feature comments by Anna Gardella (European Banking Authority).

The presentation will comprise two blocks:

  • The first block will focus on the Single Resolution Board’s (SRB) framework for valuation. The SRB has worked to provide clear expectations regarding the principles and methodologies for valuation in resolution and it expectations regarding the results of the valuation. The Framework for Valuation aims at reducing uncertainty for both the independent valuers and the SRB, providing indications that are necessary for achieving the valuation’s goals, subsequently enhancing comparability and consistency of valuations across future resolution cases.
  • A second block will focus on topics related improvement of MIS for valuation. Within the context of resolution, the capacity of banks’ management information systems to provide accurate and timely information is crucial for the reliability and robustness of valuations. Therefore, the data availability is a fundamental prerequisite for the work in valuation. The purpose is to provide a general description on how the SRB plans to embed the preparation for valuation in resolution planning and crisis preparedness. It should be highlighted that the SRB and the EBA have been collaborating closely in their respective works on a standardised data set for valuation in resolution. Main differences between the SRB Data Sets and the EBA Data Dictionaries will be explained.

 

Speakers

Boštjan Jazbec , Member of the Board and Director of Resolution Planning and Decisions, Single Resolution Board

Boštjan Jazbec became Board Member of the SRB in March 2018 and is responsible for the banks under the direct remit of the SRB in 6 EU Member States, for 2 GSIBs, and for several resolution teams involved in resolution planning. He is also Chairman of the Cross-border Crisis Management Group for banks at the Financial Stability Board. From 2003 to 2008 he was Board Member of the Bank of Slovenia. After 2008, he worked as a Senior Advisor of the International Monetary Fund (IMF) at the Central Bank of Kosovo and the Central Bank of Suriname. In July 2013 he was appointed Governor of the Bank of Slovenia and the Member of the Governing Council of the ECB. From 2016 to 2018 he was a Member of the Bank for International Settlements’ (BIS) Central Bank Governance Group. He holds a PhD in Economics from the Institute for Advanced Studies in Vienna and the University of Ljubljana.

   

Jose Carlos Molina Franquelo, Head of Unit Resolution Planning, Single Resolution Board

Jose Carlos Molina joined the SRB in January 2016. He is responsible for the coordination of a unit in charge of the resolution planning activities for a set of institutions including one of the largest European G-SIBs.
He also leads an expert group on valuation and co-chairs another one on Solvent Wind Down (SWD) topics at the SRB. Previously he worked at the Task force for the establishment of the Single Resolution Board (since 2014) and DGCOMP at the European Commission.
He has previous experience as supervisor at Bank of Spain, where he worked as on-site inspector since 2005. He holds a law degree, a business administration degree and an MBA from the Instituto de Empresa.
.

           

Commentator

Anna Gardella, Senior Expert at the European Banking Authority

Anna Gardella is a Senior Expert at the European Banking Authority. She is project manager on a wide range of regulatory issues, with special expertise in resolution matters and market access, and is responsible for the drafting of RTS, ITS and Guidelines. One of her last projects is the EBA Valuation Handbook for purposes of resolution. She has been a member of the FSB Work Streams on cross-border resolution, on bail-in execution and on IBOR reform. She represents the EBA in a wide range of matters, including in resolution colleges and Crisis Management Groups of G-SIBs, in mediation cases settling disagreements between resolution authorities, as well as between supervisory authorities. She was a member of the EBA Crisis management team during the 2015 Greek crisis where capital controls were imposed.

       
 

Technical disclaimer

The online seminar will take place on the Adobe Connect platform. You can access the seminars from personal computers, laptops, tablets and smartphones. You are strongly encouraged to read the technical requirements before registering for the online seminar. To ensure an optimal experience in terms of connection speed and video quality, we suggest to attend the seminar via a device connected to a stable network connection, avoiding if possible shared wi-fi or mobile connections.
Mar
26
Thu
Online lecture – Financial Stability in Times of Epidemics @ FBF Online platform
Mar 26 @ 1:00 pm – 2:00 pm

The coronavirus epidemic will not wipe us out, but it can be anticipated that it will have a major impact on our habits, world trade and the virtual economy. In the end it might make us all wiser, but probably also poorer for a while.

Key questions are whether financial panic will strike, and through which channels systematic risk may impact our economies. Any answer must be placed within an informed view of current circumstances, as the shock is hitting us in a phase of economic stagnation, accompanied by excess savings and inflated asset prices.

Against this background, this online lecture will first introduce a view of our current phase financial stagnation and its potential vulnerabilities, with special attention to bank and shadow bank related risks. Next we will introduce a speculative view on the likely effects of the virus crisis on asset prices, inflation and financial stability.

This lecture will be the first of a series of FBF online events that will discuss the economic and financial impact of the COVID-19 epidemic and will review Europe’s economic policy response to the virus.

 

Speaker

Enrico Perotti, Professor of International Finance at the University of Amsterdam

Enrico Perotti (PhD Finance, MIT 1990) is Professor of International Finance at the University of Amsterdam. His research in banking and corporate finance, organization theory, political economy, legal and financial history has appeared in the top economics and finance journals. He was the 2011 Houblon Normal Fellow in financial stability at the Bank of England and 2015 Wim Duisenberg Fellow at the ECB. He is Fellow of the European Economic Association and Research Fellow at CEPR and Tinbergen Institute. He has held visiting appointments at MIT, Harvard, Oxford, Columbia Business School, London Business School, LSE and the IMF. He acted as consultant to the EC, IMF, FSB, World Bank and DNB.

 

 


 

Technical disclaimer

The online seminar will take place on the Adobe Connect platform. You can access the seminars from personal computers, laptops, tablets and smartphones. You are strongly encouraged to read the technical requirements before registering for the online seminar. To ensure an optimal experience in terms of connection speed and video quality, we suggest to attend the seminar via a device connected to a stable network connection, avoiding if possible shared wi-fi or mobile connections.
Mar
31
Tue
Online seminar – Bank-Fintech collaboration and outsourcing arrangements: The case for a mentorship regime @ Online
Mar 31 @ 1:00 pm – 2:00 pm

Presentation by Georg Ringe and Luca Enriques

Comment by Anna Maria Nowak


Fintech firms, once seen as the “disruptors”, threatening to displace the traditional banking world, are now increasingly seen as attractive partners for established financial institutions. Such partnership agreements come in different forms and contexts, mostly with the goal of outsourcing key banking functions and of facilitating market entry for new market players while overcoming relatively tough regulatory hurdles.

Yet such arrangements, while generally to be welcomed, pose a number of regulatory problems, in particular concerning the effective supervision of fintechs that operate outside of the direct limelight of regulatory authorities. Questions of enforcement and effective supervision emerge, which may ultimately result in problems for market stability and systemic risk. Regulatory sandboxes are one attempt to address these problems but may fail to do so and are not always available.

Against this backdrop, Luca Enriques (University of Oxford); Georg Ringe (University of Hamburg) make the case for a “mentorship regime”, which provides for a reliable regulatory framework for partnership agreements between fintech firms and established banks. This would allow for a de facto “private sandbox”, where experienced firms could mentor new startups and relieve them of a convoluted regulatory process. At the same time, a state-backed mentorship plan would clear up responsibilities, supervision competences, and liability questions and thus overcome problems of arbitrage and abuse. Ultimately, a mentorship regime may show the way to a new and more reliable future system of banking that puts the well-established contractual practice of outsourcing banking services on a more reliable basis.

The presentation will be followed by a commentary by Anna Maria Nowak (European University Institute).

 

Speakers

Luca Enriques, Professor of Corporate Law at the University of Oxford

Luca Enriques is the Professor of Corporate Law at the University of Oxford, Faculty of Law, a Research Fellow at the European Corporate Governance Institute and a Fellow Academic Member of the European Banking Institute. He has published widely in the fields of comparative corporate law, securities regulation and banking law, including as a coauthor of Principles of Financial Regulation and The Anatomy of Corporate Law, and has held visiting positions, among others, at Columbia Law School, Harvard Law School, Sydney Law School and the University of Cambridge. He was a commissioner at Consob, the Italian securities market authority from 2007 to 2012.

   

 

Georg Ringe, Director of the Institute of Law & Economics at the University of Hamburg

Professor Georg Ringe is Director of the Institute of Law & Economics at the University of Hamburg and Visiting Professor at the University of Oxford, Faculty of Law. His research focuses on questions of corporate law, capital markets, and financial regulation, from an interdisciplinary and comparative perspective. He is a Research Member with the European Corporate Governance Institute, Brussels, Fellow at the European Banking Institute, Frankfurt, and co-editor of the Journal of Financial Regulation. As Visiting Professor, he regularly teaches at leading academic institutions in North America, Europe, and Asia.

 

     

Commentator

Anna Maria Nowak, PhD researcher in the Department of Law, EUI

Anna Maria Nowak is a 4th year Ph.D. researcher at the Law Department of the European University Institute, studying Fintech regulation. She holds an M.A. in Law from Nicolaus Copernicus University in Torun, Poland, where she wrote her master thesis on the regulation of crowdfunding. In her doctoral research Anna focuses on corporate governance and corporate sustainability in Fintech, showing how both can be incorporated into organizational structures and business models of Fintech corporations. The arguments of her thesis are built upon an ethnographic study conducted within the Fintech industry in the years 2016-2019. Prior commencing her Ph.D., Anna worked at international law firms in Warsaw, and at one of the largest banks in Poland. More recently, she also worked at a Fintech company, in a Legal and Regulatory department.

 

   
 

Technical disclaimer

The online seminar will take place on the Adobe Connect platform. You can access the seminars from personal computers, laptops, tablets and smartphones. You are strongly encouraged to read the technical requirements before registering for the online seminar. To ensure an optimal experience in terms of connection speed and video quality, we suggest to attend the seminar via a device connected to a stable network connection, avoiding if possible shared wi-fi or mobile connections.
Apr
3
Fri
Online seminar – State Aid in the context of COVID-19 @ FBF Online Platform
Apr 3 @ 1:00 pm – 2:00 pm

[NEW] Amendment to the Temporary Framework

Presentation by Ramona Ianus


On 19 March, the European Commission adopted a Temporary Framework to enable Member States to use the full flexibility foreseen under State aid rules to support the economy in the context of the COVID-19 outbreak.

In this online seminar, Ramona Ianus (DG Competition, European Commission) will illustrate the main characteristics of the Temporary Framework, which enables Member States to ensure that sufficient liquidity remains available to businesses of all types and to preserve the continuity of economic activity during and after the COVID-19 outbreak.

Thus, direct grants, selective tax advantages, public guarantees or public loans can be granted to companies that face difficulties because of the COVID-19 outbreak. In addition, banks and other financial institutions have a key role to play in dealing with the effects of the COVID-19 outbreak, by maintaining the flow of credit to the economy. Therefore, the Commission inserted the necessary safeguards in the Temporary Framework to ensure that the support is reaching the undertakings and does not stay with the banks.

 

Speaker

Ramona Ianus, DG Competition – European Commission

Ramona Ianus joined the European Commission and DG Competition in 2007, where she scrutinised investment projects in the solar, semiconductor and car sectors and dealt with the 2009 temporary framework cases. She was also involved in the state aid modernization package and was responsible for the preparation of the regional aid rules for 2014-2020. In 2016, Ramona went to Bucharest to be the legal adviser of the Deputy Prime Minister, Costin Borc, Minister of Economy. She now works in DG Competition in the state aid coordination unit being responsible, among other, for the COVID-19 Temporary Framework and international aspects of state aid. Ramona is a lawyer and graduated from the University of Bucharest in Romania and from Pantheon Sorbonne Paris I University. She holds a master of European law from the College of Europe (Bruges).

 

 


 

Technical disclaimer

The online seminar will take place on the Adobe Connect platform. You can access the seminars from personal computers, laptops, tablets and smartphones. You are strongly encouraged to read the technical requirements before registering for the online seminar. To ensure an optimal experience in terms of connection speed and video quality, we suggest to attend the seminar via a device connected to a stable network connection, avoiding if possible shared wi-fi or mobile connections.