EU Financial Services Law for Non-Lawyers

The participants will learn about the respective roles and powers of various actors involved in the decision-making in financial services, with a particular emphasis on the tasks of the EU supervisory authorities (ESAs). On the basis of practical examples, the participants will have the opportunity to discuss the concrete actions taken by the ESAs, their first achievements as well as clear lessons for improvement.

In March 2019, the European Parliament and the Member States reached a political agreement to reform the current system of financial supervision with a view of strengthening the macro- and micro-prudential supervision at the EU level. This seminar explains the legal system for financial services regulation and supervision before and after the reform and it clarifies the distribution of competences between the national and the EU level and the implementation of laws at both levels.

The objectives of this seminar are three-fold:

• To present the institutional set-up for the regulation and supervision of financial institutions, the system of regulation and decision-making in financial services.
• To discuss the first lessons learned from the ESAs activities, the ongoing reform and the outlook for the future.
• To inform about the legal remedies available to challenge the legality of ESAs actions and to discuss the recent litigation in financial services.

The seminar will consist of presentations, question & answer sessions and a panel discussion.