23rd meeting of the European Financial Markets Lawyers Group

Quadrilateral Event EFMLG/FMLC/FMLG/FLB

Breakfast Seminar, 19 June 2007, 08.00

“The Economic Importance of Financial Markets Law”

Meeting: 19 June 2007 09.15 - 17.30

Agenda

Introduction by Lord Woolf

ITEM 1: Securities and securities collateral

1(a) Hague Convention

1(b) Unidroit

Document: preliminary draft convention on substantive rules regarding intermediated securities (November 2006)

1(c) Financial Collateral

Documents: Commission Evaluation Report on Financial Collateral Arrangements Directive, Financial Collateral Arrangements Directive, EFMLG survey on implementation of Financial Collateral Arrangements Directive (March 2006),

1(d) ECB market infrastructure initiatives

Presentation: recent eurosystem market infrastructure intiatives

1(e) Holding, transfer and settlement of foreign securities through CSDs in Japan

ITEM 2: Secured lending and securitisation

2(a) Cross-border securitisation

Documents: EFMLG report on legal obstacles to cross-border securitisations in the EU (adopted 7 May 2007) + Annex, ESF response to Commission's consultation on the Recoomendations contained in the Mortgage Funding Expert Group Report (15 February 2007)

2(b) Covered bonds

2(c) UNCITRAL

Document: Draft Legislative Guide on Secured Transactions (February 2007)

ITEM 3: Presentation by FLB on current legal and regulatory issues - Recent legislative and regulatory topics

ITEM 4: Hedge Funds

4(a) Presentation by FMLG

4(b) Response and discussion

Documents: Council Conclusions on Hedge Funds, 2798th ECOFIN, 8 May 2007, Update of the FSF Report on Highly Leveraged Institutions, Guide to Sound Practices for European Hedge Fund Managers, Motion for leave to file amicus brief in relation to  Bear Stearns -v- Helen Gredd, ISDA & FMLC amicus brief in relation to Bear Stearns -v- Helen Gredd, Decision of US Bankruptcy Court for the Southern District of New York in Bear Stearns -v- Helen Gredd

ITEM 5: FX and related regulatory issues

5(a) MiFID and FX

Documents: 'The Regulation of Foreign Exchange in the UK', David Bloom (May 2007), Submission on the application of MiFID to Forward FX Transactions, Evolution of the list of financial instruments, Commission answer to question raised in the context of the implementation/interpretation of MiFID, EBF query re MiFID exemption of forward foreign exchange contracts (4 June 2007)

5(b) Project Turquoise

5(c) NDF and NDO issues

5(d) FX Market Space

ITEM 6: Derivative issues

6(a) CLS

6(b) Rating trigger termination clauses

BACK TO TOP