Europe Matters Newsletter
The European Affairs team distributes a quarterly
newsletter. To subscribe to the newsletter please email
Corinna Weddige via
europeanoffice@cityoflondon.gov.uk
Download the September 2008 edition of Europe
Matters (253kb)
Position Papers
Listed below are position papers for download, published by the
City of London.
Delivering a competitive EU single market in the 21st
century
October 2008
This paper is based on consultation with the European financial
services industry setting out the policy focus that the City of
London Corporation suggests the new European Commission, European
Parliament and forthcoming EU Presidencies adopt in the area of
financial services and markets during the 2009-14 legislative
term.
Download the Single Market
paper (419kb)
Submission to the IIM Group
12 June 2007
A response to the questions in the Commission’s Green Paper on
Financial Services Policy (2005-2010). It is primarily concerned
with issues that relate to financial market sectors in general
(“cross sectoral issues”) and does not deal with issues that relate
to particular financial markets.
Download the submission to the IIM
Group (320kb)
Response to the implementation of articles 45-47 of directive
2006/43/EC on Statutory Audit
5 March 2007
This is the City of London Corporation’s response to the European
Commission Directorate General for Internal Market Services
consultation of January 2007 on implementation of articles 45-47 of
directive 2006/43/EC on Statutory Audit (“the Directive”1),
concerning co-operation with non-EU jurisdictions on auditor
oversight.
Download the response to the implementation of
articles 45-47 (131kb)
City response to FSAP evaluation
27 January 2006
A response has been prepared by a group of internationally active
market participants in the City of London.
Download the City response to FSAP
evaluation (183kb)
Response paper on the Green Paper on Financial Services
Policy
14 July 2005
A response has been prepared to the European Commission’s Green
Paper on Financial Services Policy. This was produced for the City
EU Advisory Group reflecting discussion in a working group in the
Square Mile drawn from a broad range of international financial
services interests.
Download the response to the Green
Paper (179kb)
Discussion paper on European Regulation and Supervision of
Financial Services
29 April 2005
The report on "European Regulation and Supervision of Financial
Services" has been produced by a working group in the Square Mile,
chaired by Sir Nigel Wicks. It has been produced as a discussion
paper and we very much welcome comments on it. It covers some of
the ground identified in the European Commission's Green Paper on
Financial Services Policy (2005-2010).
Download the discussion paper on regulation and
supervision of Financial Services (181kb)
Discussion paper on “Creating a Single European market for
Financial Services”
1 November 2002
A paper prepared by Sir Nigel Wicks’ Strategy Working Group and
presented last year to the Commission in Brussels. The Group
prepared this set of principles and practices which should, if
properly applied, lead to the effective development and
implementation of the Single Market for Financial Services.
Download the discussion paper on a single
European market (230kb)
Research Papers
Listed below are research papers for download, published by the
City of London.
Capital Market Competitiveness and Regulation
March 2008
Concerns about alleged disparities in the effective enforcement of
securities regulation across different national regimes has
recently been used to question international initiatives on mutual
recognition. In December 2007, Professor John Coffee, Professor of
Law at Columbia University, published an article “Law and the
Market: the Impact of Enforcement” in the Pennsylvania Law Review
which suggested that such disparities were strong and greater
enforcement intensity in the US lowers the cost of capital
there. The City of London commissioned Professor Eilis
Ferran, Professor of Securities Law at Cambridge University, to
explore the issues raised by Professor Coffee.
Professor Ferran’s paper assesses Professor Coffee’s work and
suggests a misunderstanding about the UK system. The paper
recommends that mutual recognition of cross border securities
regulation be based on equivalence of outcome and not equivalence
of regulatory approach.
Download the Capital Market
paper (370kb)
City of London’s Research programme
The City of London’s research programme has
included a series of research publications, including the annual
report on the City’s importance to the EU economy, which provide
accurate, timely and well-focused analysis for policy-makers
both inside and outside the City of London to help them
understand the performance trends and needs of the London
economy, and in particular the financial and business services
clusters based in and around the Square Mile.