As mentioned yesterday, we finished the debate at the CAS-WG Plenary with a panel discussion about the future for the City and the UK financial system in light of European regulatory change.
The panel consisted of (from left to right):
- Bob Fuller, Director at Fixnetix;
- Andrew Simpson, Market Structure Consultant; and
- Martin Watkins Director, Market Infrastructures, Ernst and Young.
It was a fascinating 45 minute discussion of the negative position the UK sits in today, from a regulatory perspective in Europe. The Banking Union, Transaction Tax, Bonus Cap and more, has all hit London hard so, unsurprisingly, this was a pretty negative debate about where the regulators have got to in Brussels.
Here is a short synopsis of what was said ...