Recent Events

On November 23, 2015, Chris Brummer, the C. Boyden Gray Fellow on Global Growth and Finance at the Atlantic Council, spoke alongside Mingxuan Zhu, President and CEO, Industrial and Commercial Bank of China, Susan Gammage, Thomson Reuters' Head of FX Transactions Sales, Americas, Janet L. Ecker, President and CEO, Toronto Financial Services Alliance, and Jeffrey Hodgson, Canada News Editor, Reuters at the Thomson Reuters Compliance and Risk Summit in Toronto.
On Friday, September 18, the Transatlantic Finance Initiative of the Atlantic Council's Global Business and Economics Program hosted a high-level panel to discuss the internationalization of China's currency (Renminbi) in today's volatile markets and its significance for foreign, regulatory, and monetary policy both in Chinese and world markets. The event marked the conclusion of a series of events for the global launch of the report Renminbi Ascending: How China's Currency Impacts Global Markets, Foreign Policy, and Transatlantic Financial Regulation, sponsored by the Atlantic Council, Thomson Reuters, Standard Chartered, and the City of London Corporation. The report by Chris Brummer, C. Boyden Gray Fellow on Global Finance and Growth, as well as Project Director and creator of the Atlantic Council's Transatlantic Finance Initiative, evaluates the increasing role of the Chinese currency in international payments and finance.
On June 26, the Atlantic Council's Transatlantic Finance Initiative co-sponsored a conference concerning the extraterritoriality organized by Oxford University Press's Journal of Financial Regulation at Georgetown Law. Regulators, diplomats, lawyers and academics met for a three panel series of papers, followed by regulatory commentary, on a variety of issues including: mutual recognition, economic diplomacy, sanctions, systemic risk and enforcement coordination.

'Global Public Investors' Hold $29 Trillion in Global Assets—and Raise Regulatory Questions


The Atlantic Council hosted a panel discussion September 22 on the increasing role in capital markets of the world’s hundreds of central banks, sovereign wealth funds and government pension funds. The top 400 of these “global public investors” hold about $29 trillion in assets—equal to about 40 percent of the world’s gross domestic product, noted David Marsh, the managing director of the Official Monetary and Financial Institutions Forum (OMFIF), a London-based advisory group. While central banks are given broad autonomy and little oversight to facilitate their roles in setting monetary policy, this autonomy and secrecy are now being applied to their increasingly important roles as owners of stock portfolios and other private assets.
Mr. Liu Mingkang, former chairman of the Chinese Banking Regulatory Commission and honorary professor at the Chinese University of Hong Kong’s School of Business, highlighted several important areas for Chinese economic and social reform over the next decade. Speaking at the Atlantic Council on April 16, Liu focused on developments from the Chinese Communist Party’s third plenum, noting that critical areas for reform include foreign investment, fiscal transparency, and urban governance.
The Georgetown Journal of International Law, in collaboration with the Atlantic Council, held a high-level symposium entitled International Financial Regulation in the Post-Crisis Era on Tuesday, April 8, 2014 at Georgetown Law in Washington, DC.

The event featured commentary from leading scholars and practitioners in the field of international financial regulation, as well as officials from the US Securities and Exchange Commission (SEC) and US treasury department. Throughout the symposium, the experts expressed their views on what they believed were the most pressing issues facing the international financial system, and what methods should be used to improve the system in the future.

A Conversation with Sharon Bowles, MEP

Sharon Bowles, member of European Parliament, and outgoing chair of the powerful economic and monetary affairs (ECON) committee, gave a public speech at Atlantic Council headquarters after a series of meetings between a delegation of MEPs and their US government counterparts. Bowles spoke about her 5 years as the Chair of the ECON committee, and her experience navigating the committee through the global and eurozone financial crises.
Financial services should be included in the ongoing Transatlantic Trade and Investment Partnership (TTIP) negotiations between the United States and the European Union (EU), but a major obstacle remains the opposition of the US Treasury, a group of British and other European financial experts asserted at a recent London event. The gathering, cosponsored by the Atlantic Council, TheCityUK, and Thomson Reuters, followed the launch of a new report on TTIP and was the last in the Danger of Divergence event series held in Europe and the United States.
The United States and the European Union must consider not only the transatlantic but the global market if their joint financial reform efforts are to succeed, argued experts from the European Commission, the private sector, the media, and academia at a Brussels event cosponsored by the Atlantic Council, Thomson Reuters, and TheCityUK. The February 12th, 2014, gathering of leading experts from both sides of the Atlantic and Asia explored the danger of future transatlantic divergence in the financial market as well as the rising impact of the Asian market on the global stage. The event followed the earlier launch of The Danger of Divergence: Transatlantic Financial Reform and the G20 Agenda in Washington DC on January 28th, 2014.
The United States and the European Union cannot afford to follow separate paths on financial reform, according to Senator Christopher Murphy (D-CT), EU Ambassador to the US João Vale de Almeida, and a number of leading experts from the Department of the Treasury, the SEC, the European Commission, the private sector, and academia.  Following the launch of the Atlantic Council’s new report entitled, “The Danger of Divergence: Transatlantic Financial Reform and the G20 Agenda,” financial sector regulators and leading market participants from across Europe and the United States gathered on Capitol Hill to discuss possible paths forward for ensuring the future efficiency and stability of the transatlantic financial market.


    

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