Dinner Briefing: Effective regulation to ensure stability of financial markets: overview of the European reform agenda
Host / Sponsor: EUBIP / ECC
Event Time: Wed 30-May-2012 7:00 PM
Venue: Azure Restaurant, 29-30/F, Hotel LKF by Rhombus, 33 Wyndham Street, Central

The European Chamber of Commerce in Hong Kong, thanks to EU funding, was delighted to host a Dinner Briefing “Effective regulation to ensure stability of financial markets: overview of the European reform agenda”, on the occasion of the visit of Ms. Nadia Calviño from the Directorate General for Internal Market and Services of the European Commission.

The audience consisted of top level executives, managing directors, heads of financial institutions/banks operating in Hong Kong as well as representatives of the most prominent financial media.

The Dinner Briefing was inaugurated with welcoming remarks by Ms. Beth Smits, Vice-Chairwoman of the EU-HK-MC Financial Services Business Council (FSBC) and Head of Corporate Affairs for the Asia Pacific region at SWIFT, based in Hong Kong, introducing the role of the FSBC and how it can be beneficial to co-operate with financial industry of Hong Kong and Macao.

Beth highlighted the need for European financial institutions to speak with a common voice before Hong Kong and EU authorities, on issues that matter to the success of a business – and to the success of Hong Kong as a world financial centre. FSBC aims to represent the views of the European financial services industry to authorities in Hong Kong and the European institutions. Over the past four years, since the establishment of FSBC many events were organised on issues impacting the business here, from internationalisation of the RMB to the implications and implementation of regulations such as the Alternative Investment Fund Manager’s Directive.

Beth also informed that later this month, FSBC and ECC is pleased to release a unique and insightful report that lays out the state of play for European financial institutions operating here in Hong Kong and Macao (thanks to EU funding). The objective of this report entitled “Assessing the Impact of European Financial Institutions on the Economies of Hong Kong and Macau,” is to provide an overview on the financial industry in Hong Kong and Macau and also to determine the influence of the European players in the various sub-industries, namely:

  • commercial and investment banking
  • private banking
  • insurance and reinsurance
  • fund management
  • private equity
  • hedge funds and brokerages

The goal of the report is to offer decision makers and executives a detailed understanding of the contribution of European financial institutions to the economies of Hong Kong and Macao and provide insights into likely trends impacting the business.

After an informative and interesting presentation given by Ms. Nadia Calviño, a lively questions and answers session was held between the audience and Ms. Nadia Calviño. (click here for her CV)

The event was finally closed by Ms. Maria Castillo, Head of Office of the European Union to Hong Kong and Macao who warmly thanked Ms. Nadia Calviño for sharing her views with the Hong Kong financial community.

 

This event is funded by the European Union

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