PUBLIC POLICY ADVOCACY OF EUROFI

Eurofi is a Paris-based  European think tank with a presence in Brussels dedicated to financial regulation and supervision and a renowned platform for exchanges between the financial services industry and the EU and international authorities. The main objectives of Eurofi are to help industry and public decision-makers reach a common understanding of possible evolutions required in the regulation and supervision of financial services and to open the way to legislative or industry-driven solutions.

Eurofi acts as a catalyst for the market and as a neutral go-between connecting diverse financial industry players and the public authorities.

Eurofi has two main types of activities: Research and documentation and Events and Exchange of Views

Research and documentation

• Assessments and proposals taking into account economic, risk and end-user impacts, prepared with the support of cross-sectoral working groups comprising members of Eurofi.
• Topics addressed include prospective and currently debated issues related to financial regulation and supervision within an EU and global context, as well as industry trends.
• Regular interactions organized with representatives of the public authorities and other stakeholders (e.g. end-users experts) to discuss and fine-tune assessments and proposals.

Events and Exchanges of Views

• Eurofi Financial Forum: a yearly public international Forum gathering industry leaders and EU and non-EU public decision makers for high level discussions on the major regulatory projects in the financial area, as well as informal networking.
• High level seminars and workshops organized regularly to facilitate exchange of views on regulatory issues between the members of Eurofi and key public decision makers.

Main topics addressed

• Current evolutions of the prudential and regulatory framework of banks and insurance companies (fine-tuning of CRD IV, impacts of CRD IV and Solvency II on the financing of the economy, structural reforms of the banking sector (Liikanen report), addressing appropriately the systemic importance of diverse financial institutions (banks, market infrastructures, insurance companies), regulation of the shadow banking sector, EU crisis management framework, conditions for a smooth evolution towards a more market-led economy, risk disclosure practices to favour financial stability.
• Capital markets and investment products regulations: regulation of securities, derivatives and commodities markets and trading and post-trading infrastructures (MiFID review, CSD regulation, EMIR), evolutions in asset management regulations (AIFMD, ETFs, specific fund regulations, possible evolutions of UCITS), investor protection regulation (PRIPs, MiFID, IMSD) and fund depositary rules (UCITS V), extra-territoriality and cross-border access rules.
• Optimizing the EU financial services internal market: addressing the increasing fragmentation of EU financial activities prompted by the crisis, conditions for enabling a sustainable SEPA business case, review of the IORP directive, regulation of CRAs.

Membership

Eurofi counts 39 members comprising many leading global and financial institutions from different sectors of the industry (banking, insurance, market infrastructure, asset management, credit rating agencies):

Allianz, Axa, Bank of America Merrill Lynch, BBVA, BlackRock, BMEX, BNP Paribas, BNY Mellon, Groupe BPCE, Caisse des Dépôts, CDP, Citi, CNP, Crédit Agricole SA, Credit Suisse, DTCC, S Finanzgruppe, Fidelity, Goldman Sachs, HSBC, ICE, JP Morgan, KPMG, CaixaBank, La Banque Postale, Moody’s Investors Service, NASDAQ OMX, NYSE Euronext, PriceWaterhouseCoopers, Santander, Société Générale, Standard Chartered, Standard & Poor’s, SWIFT, State Street, Swiss Re, Tradition, UBS, Unicredit, Western Union.

In addition to its members, Eurofi interacts with all then representative public and private sector stakeholders involved in financial regulatory projects.