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Aide memoire of the 31st meeting of the European Financial Markets Lawyers Group

***

31st meeting of the European Financial Markets Lawyers Group (ad-hoc)

on Thursday, 18 June 2009 from 9.00 to 13.00 hrs

  Venue: INTESA SANPAOLO, Piazza Belgioioso 1, 20121 Milan 

Meeting room: Ground floor next to the entrance

 

Item 1: Approval of the agenda and of the aide-mémoire of the last meeting
   
Item 2: Draft Common Frame of Reference (for discussion)
  Issue:

The EFMLG will discuss the finalised draft of the position paper on the DCFR which has been prepared by the Task Force.
  Documents:
  Rapporteurs:
The Chairman – Mr Frederik Winter
     
Item 3:
Preparations of the EFMLG event with General Counsels for the 10th anniversary of the EFMLG
(scheduled for Wednesday 21 October)
  Issue:

The Chairman will inform the members on the state of play of this event. The EFMLG will also discuss the draft booklet about the EFMLG activities which has been prepared for this occasion.
  Documents:
  Rapporteurs:
The Chairman - Mr Stéphane Kerjean
     
Item 4: Legal issues arising out of the market turmoil: The Lehman Brothers case (for discussion)
  Guest speaker:
Mr Simon Firth, Partner, Linklaters LLP (11h-11h30 followed by a discussion with the group)
  Issue:


Simon Firth will provide the EFMLG with an overview of the key issues facing the Lehman administrators and their legal advisors. Following Simon Firth's presentation, the EFMLG will discuss the conclusions to be drawn from these issues.
  Documents:
  Rapporteurs:
Mr Hubert de Vauplane
     
Item 5: Market Standard Documentation: Lessons Learned from Turmoil (for discussion)
 

Issue:

The EFMLG will be debriefed on the outcome of the activities of the Task Force over the last weeks (including the first meeting with market associations of 27.5 and the preparations of the symposium)
 

Documents:



Letter to the market associations dated 12 May 2009 – Summary minutes of the kick-off-meeting with industry associations of 27 May 2009 and of the first and second teleconferences of the Task Force of 3 April 2009 and 29 April 2009 – ISDA proposal on Collateral Dispute Resolution – Tentative draft agenda of the symposium with market associations scheduled for September 2009 – Judgement by the English Court of Appeal of 21 January 2009
  Rapporteurs:
Mr Holger Hartenfels
     
Item 6:

Other issues of relevance to the EU financial markets (for discussion/information)

   
  6.1. Unregulated financial markets and products + OTC derivatives
  Documents:

Consultation report and media release – IOSCO Technical Committee – Unregulated Financial Markets and Products (May 2009) - Report of the Committee on Capital Markets Regulation/US private sector proposal for financial regulatory reform
  Rapporteurs:
Ms Susan O'Malley – Mr Stéphane Kerjean
   
 
6.2. Recent Consultations to review Directive 94/19/EC on Deposit-Guarantee Schemes (DGS)
 
Documents:
 
Rapporteurs:
Mr Tom Bartos
  6.3. EMA deposit annex
  Documents:


 		Special provisions/EMA for financial transactions – Draft deposit annex for deposits and loans/draft product annex – Draft product annex/explanatory remarks – Presentation: EMA New Annex for Deposits and Loans
  Rapporteurs: Mr Holger Hartenfels
     
Item 7:
Other issues – Next meetings ( for discussion/ information)
 
Preparations of the Quadrilateral meeting
 
Immediately following the meeting, a picture of the group will be taken: Piazza Belgioioso in front of Palazzo Besana
A buffet lunch will be also served.
     

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