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Debate papers

Les debate papers sont destinés à ouvrir ou élargir les débats en constituant un socle de réflexions sur des problématiques d’actualité ou de prospective relatifs à la réglementation financière, l’organisation des services financiers dans l’Europe post-Brexit et de la transition écologique, et plus généralement le développement des services financiers en Europe et dans le monde.
Le développement des Big Techs dans la finance : Opportunités ou menaces ? Quelle réponse des autorités ?
Le développement des Big Techs dans la finance : Opportunités ou menaces ? Quelle réponse des autorités ?

Ce Debate Paper a été préparé par un groupe de travail spécifique (annexe) composé de représentants de membres institutionnels de l'AEFR ou non, participant à titre personnel, dont l'objectif est d'initier une discussion sur les questions que le développement d’offre de services financiers par les Big Techs soulève. Les opinions exprimées dans ce document ne reflètent pas nécessairement celles…

THE DEVELOPMENT OF BIG TECH COMPANIES IN FINANCE: OPPORTUNITIES OR THREATS? WHAT RESPONSE FROM THE AUTHORITIES?
THE DEVELOPMENT OF BIG TECH COMPANIES IN FINANCE: OPPORTUNITIES OR THREATS? WHAT RESPONSE FROM THE AUTHORITIES?

This Debate Paper was prepared by a dedicated working group (annex) composed of representative’s institutional members of the AEFR or not participating in a personal capacity, whose aim is to initiate a discussion on the issues at stake regarding the development of financial services by Big Tech companies. The views expressed in this paper do not necessarily reflect those of the individual…

Transition plans: ensuring their comparability, credibility and effectiveness to accelerate the low carbon transition
Transition plans: ensuring their comparability, credibility and effectiveness to accelerate the low carbon transition

This debate paper provides recommendations to policy makers, at national, European, and international level, as they incorporate the concept of transition plans into the climate-related regulatory framework.  While transition plans are increasingly recognised as an essential tool in the transformation towards a low-carbon socio-economic system, lack of global harmonisation about their…

The Council’s position on Payment For Order Flow, a territorial approach instead of the Capital Markets Union   How did we get here, what is the way out? - MAY 2023
European and French regulation
The Council’s position on Payment For Order Flow, a territorial approach instead of the Capital Markets Union – How did we get here, what is the way out? - MAY 2023

This Debate paper was drafted under the responsibility of Robert Ophèle, President of the Advisory Committee for Debate Papers of the AEFR. This Debate Paper investigates a paradox: as part of the MiFIR review, a file that is instrumental to the building of the long-awaited Capital Market Union, one of the compromises explored to bridge a contentious issue (to curb or not to curb the practice of…

A retail CBDC in Europe: the current situation and challenges - APRIL 2023
European and French regulation
A retail CBDC in Europe: the current situation and challenges - APRIL 2023

By François-Régis Benois, chair of the working group, director of public affairs - La Banque Postale and Louis Bertucci, rapporteur, scientific coordinator of the Finance and Insurance Reloaded (FaIR) program – Institut Louis Bachelier The monetary and payment environment is swiftly evolving, and most central banks are exploring the concept of a retail central bank digital currency (CBDC) as a…

Insurability of large emerging risks - January 2023
European and French regulation
Insurability of large emerging risks - January 2023

Author: Olivier Lopez  Professor at Sorbonne University, Director of the Institute of Statistics of Sorbonne Université (ISUP) This Debate Paper discusses how to take up the challenges triggered by the emergence and proliferation of large risks, which, if not properly mutualized, will undermine the social links that are fundamental to our society. To put together efficient risk transfer…

Sustainability information and financial market efficiency - January 2023
European and French regulation
Sustainability information and financial market efficiency - January 2023

By Fabrice Demarigny, Member of the AEFR Board, Partner and Global head of Financial Markets at Mazars This Debate Paper highlights key challenges for appropriate implementation of the new EU sustainability reporting framework and how disclosure of reliable and comparable sustainability information might contribute to efficient capital allocation. To reach these objectives, the following urgent…