ISLA: 2019 will be a period of considerable change
01 March 2019 London
Image: Shutterstock
While the UK continues to be fixated with Brexit, this was not a topic that featured that heavily during the International Securities Lending Association recent discussions in Brussels, according to Andy Dyson, CEO of International Securities Lending Association (ISLA).
Dyson stated this is a recent release, published on the association’s website, in which he indicated, “2019 is, in fact, a period of considerable change for the European Union itself”, even without the issue of Brexit.
He affirmed: “In 2019, key offices of the president of the European Council and the European Parliament will change, while Mario Draghi’s mandate at the European Central Bank will end. At the same time, November will see the arrival of a new commission and parliament.”
“In the case of the parliament, the expected loss of UK participation from the centre ground could change some of the dynamics around the legislative process, producing different priorities and focus. For our markets, we have to remain mindful of these changes and where appropriate, work to ensure that the role that securities lending plays more broadly within the capital markets is socialised to new members of parliament and others.”
Dyson explained that as ISLA looks ahead to the formation of the new commission and parliament, it is beginning to look closely at the key issues and areas of focus that will drive much of the legislative process over the next five years.
He indicated: “While we are still to formulate our policy objectives, it is already clear that a number of initiatives that will come from the new commission will be closely linked to the securities lending markets and therefore drive our advocacy and communications efforts.”
He added: “In particular, we know that there will be potential policy inputs around sustainability and governance, further prudential regulation in the form or Basel IV, as well as a developing technology and digitalisation agenda.”
Dyson stated this is a recent release, published on the association’s website, in which he indicated, “2019 is, in fact, a period of considerable change for the European Union itself”, even without the issue of Brexit.
He affirmed: “In 2019, key offices of the president of the European Council and the European Parliament will change, while Mario Draghi’s mandate at the European Central Bank will end. At the same time, November will see the arrival of a new commission and parliament.”
“In the case of the parliament, the expected loss of UK participation from the centre ground could change some of the dynamics around the legislative process, producing different priorities and focus. For our markets, we have to remain mindful of these changes and where appropriate, work to ensure that the role that securities lending plays more broadly within the capital markets is socialised to new members of parliament and others.”
Dyson explained that as ISLA looks ahead to the formation of the new commission and parliament, it is beginning to look closely at the key issues and areas of focus that will drive much of the legislative process over the next five years.
He indicated: “While we are still to formulate our policy objectives, it is already clear that a number of initiatives that will come from the new commission will be closely linked to the securities lending markets and therefore drive our advocacy and communications efforts.”
He added: “In particular, we know that there will be potential policy inputs around sustainability and governance, further prudential regulation in the form or Basel IV, as well as a developing technology and digitalisation agenda.”
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