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Past Event

The EU Debate about Audit Reform

As the crisis has led many observers to identify shortcomings in the financial reporting of financial institutions, the European Commission has introduced proposals for audit reform in November 2011. The current legislative debate on these proposals involves possible restrictions on services provided by audit firms, obligations for issuers to regularly change auditors (“mandatory rotation”), and […]

Date: Jan 17 - Topic: Banking and capital markets

As the crisis has led many observers to identify shortcomings in the financial reporting of financial institutions, the European Commission has introduced proposals for audit reform in November 2011. The current legislative debate on these proposals involves possible restrictions on services provided by audit firms, obligations for issuers to regularly change auditors (“mandatory rotation”), and interactions between reforms in the EU and in other parts of the world. While this endeavor has received comparatively less public attention that those concerning credit rating agencies, let alone banking supervision, it has potentially far-reaching consequences in terms of the structures of the European audit market, relations between auditors and their corporate clients, and the information content of financial disclosures to investors and other stakeholders.

Speakers

  • Nathalie Berger, Head of Audit and Credit Rating Agencies Unit, European Commission DG MARKT

Nathalie Berger took her present position as Head of Unit for Audit and credit rating agencies in the Directorate General for the Internal Market and Services of the European Commission in 2012. She is responsible for leading the reform of the statutory audit legislative framework in the European Union and the cooperation with third countries on audit oversight. She is also responsible for the credit rating agencies legislative framework.

After joining the European Commission in September 2000, she worked on the modernization of the financial markets legislation (“Lamfalussy reform”), and was later seconded to the Commission Task Force on the Future of the Union, taking part in the work of the European Convention and the Intergovernmental Conference. She has in-depth experience in company law and corporate governance and in political coordination.

She started her career as an academic and public speaker, working in parallel as a consultant in European Affairs for the Caisse des Dépôts et Consignations, and also spending six months as Legal Advisor for the Bertelsmann Liaison Office in Brussels.

A French national, she holds a Ph.D. Doctorate in Law (1998) and a Bachelor of Arts in Politics (1991).

  • Vincent Papa, Director, Financial Reporting Policy, CFA Institute

Vincent Papa leads work on financial reporting in London for the policy arm of the CFA Institute, the global organisation of investment professionals. He also serves in advisory bodies to the Financial Stability Board, International Accounting Standards Board, and European Financial Reporting Advisory Group. Before joining CFA Institute in 2007, he worked for Accenture and KPMG in Johannesburg and Observatory Capital in London. He holds a PhD in Finance and Accounting from Cranfield University, a Masters in Finance from London Business School and a MBA from Witwatersrand University.

Chair: Nicolas Véron, Senior Fellow, Bruegel

Practical details

Schedule

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Blog Post

Now is not the time to confiscate Russia’s central bank reserves

The idea of confiscating the Bank of Russia’s frozen reserves is attractive to some, but at this stage in the Ukraine conflict confiscation would be counterproductive and likely illegal.

By: Joshua Kirschenbaum and Nicolas Véron Topic: Banking and capital markets, Global economy and trade Date: May 16, 2022
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Book/Special report

European governanceInclusive growth

Bruegel annual report 2021

The Bruegel annual report provides a broad overview of the organisation's work in the previous year.

By: Bruegel Topic: Banking and capital markets, Digital economy and innovation, European governance, Global economy and trade, Green economy, Inclusive growth, Macroeconomic policy Date: May 6, 2022
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Blog Post

Owning up to sustainability risks: the EU should champion international standards

To keep European Union capital markets open and integrated, new international standards should be reflected in future European law and accounting practice to provide further incentives for a reallocation of capital, reflecting in particular climate risks.

By: Alexander Lehmann Topic: Banking and capital markets, Green economy Date: April 26, 2022
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Podcast

Podcast

War in Ukraine: sanctions on Russia two months in

A further look into sanctions on Russia and the implications for the global financial system.

By: The Sound of Economics Topic: Banking and capital markets, European governance Date: April 22, 2022
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Blog Post

The European Union should sanction Sberbank and other Russian banks

Sanctions on Sberbank and most other Russian banks should be imposed by the EU, without delay and at no major cost to either itself or like-minded countries, while it ponders an oil and gas ban.

By: Joshua Kirschenbaum and Nicolas Véron Topic: Banking and capital markets, Global economy and trade Date: April 15, 2022
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External Publication

Close cooperation for bank supervision: The cases of Bulgaria and Croatia

In-depth analysis on the banking supervision cooperation in Bulgaria and Croatia prepared for the European Parliament's Committee on Economic and Monetary Affairs (ECON).

By: Zsolt Darvas and Catarina Martins Topic: Banking and capital markets Date: March 30, 2022
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Past Event

Past Event

Tackling future risks to banks

How to address vulnerabilities in banks in the coming years?

Speakers: Maria Demertzis and Elizabeth McCaul Topic: Banking and capital markets Date: March 29, 2022
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Podcast

Podcast

War in Ukraine: implications for the global financial system and central banks

A special episode of the Sound of Economics Live on the global financial system and central banks in the wake of sanctions imposed on Russia.

By: The Sound of Economics Topic: Banking and capital markets Date: March 2, 2022
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Past Event

Past Event

War in Ukraine: implications for the global financial system and central banks

A special episode of the Sound of Economics Live on the global financial system and central banks in the wake of sanctions imposed on Russia.

Speakers: Silvia Merler, Giuseppe Porcaro and Nicolas Véron Topic: Banking and capital markets Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: March 2, 2022
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Blog Post

Venture capital: a new breath of life for European entrepreneurship?

Whether the dynamism of European venture capital of the past two years can be sustained and kick start a credible alternative to bank finance in the European Union remains to be seen.

By: Maria Demertzis and Lionel Guetta-Jeanrenaud Topic: Banking and capital markets Date: February 10, 2022
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Past Event

Past Event

Nonperforming Loans in Asia and Europe—Causes, Impacts, and Resolution Strategies

What can we learn from the experiences of Asia and Europe with regard to NPLs during the financial crisis to help us weather the current and future ones?

Speakers: Rebecca Christie, Luis de Guindos, Alexander Lehmann, Cyn-Young Park, John Fell and Santiago Fernández de Lis Topic: Banking and capital markets, Global economy and trade Date: January 20, 2022
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Blog Post

European governanceInclusive growth

12 Charts for 21

A selection of charts from Bruegel’s weekly newsletter, analysis of the year and what it meant for the economy in Europe and the world.

By: Hèctor Badenes, Henry Naylor, Giuseppe Porcaro and Yuyun Zhan Topic: Banking and capital markets, Digital economy and innovation, European governance, Global economy and trade, Green economy, Inclusive growth, Macroeconomic policy Date: December 21, 2021
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