New Financial presented at the Informal ECOFIN meeting in Copenhagen

New Financial was delighted and honoured to be presenting our latest paper on the simplification of EU financial regulation at the Informal Ecofin meeting of EU finance ministers, central bank governors, and officials in Copenhagen. The paper, which was commissioned by the Danish Presidency of the Council of the EU, included:

• framing the debate in terms of market outcomes in more than 30 sectors of banking, finance, and capital markets in the EU over the past decade;

• measuring the scale and complexity of the EU regulatory framework;

• analysing how complexity is introduced into the framework by different parties at every stage of the legislative process;

• and outlining some broad principles to simplify both the ‘stock’ of existing regulation and the ‘flow’ of future regulation.

During the session, finance ministers, central bank governors, and EU officials were divided into break-out groups to discuss different aspects of the paper and presented their findings back to the larger group. We were very pleased to hear a lot of support for (most of) our proposals and look forward to expanding on this report in the months ahead.

This is the third time in the past four years that New Financial has been invited to present to the Informal Ecofin meeting (after Paris in 2022 and Stockholm in 2023), which we think underlines how seriously European governments and authorities take our work.