9.00 Reading more proposals on the van den Burgh report, followed by a meeting with LIBA, ISDA and SIFMA on the same subject. In general terms I have already covered the points they make.
14.00 Leave for Eurostar.
Thursday 28 June 2007
Wednesday 27 June 2007
9.00 Into ECON. We have votes at 9.30 My bank accounts opinion is scheduled last and I try to get it moved to the front because I am concerned I may not get away in time to get to the session I am chairing at the stock exchanges conference. Anyway, they will not move it. Voting takes ages. We seem to be holding the balance in everything and a lot of the votes are tight. The EPP do not seem to like some aspects of my opinion and vote against, but as they did not take part in the discussions or put in any amendments I do not know what their problem is. My opinion does not seem greatly at variance with the EPP report in JURI that we discussed, very briefly, on Monday. Anyway the Socialists vote with me so it all goes through.
10.45 I finally get away and head for the Conrad for the conference. Traffic is terrible and Carol is texting and phoning as they are getting worried. No real problem and I get there in time to chat to the people on the panel that I am chairing on governance. Anyway, all goes well, and I introduce into the discussion whether there is more market abuse by hedge funds than other investments, as some allege. My shoe breaks at the end of lunch so lop-sided walk to get the Metro back. Fortunately my flat en route for shoe change.
15.00 Plenary session with report back from Chancellor Merkel, or rather as she is for a few days yet, President in Office (of Council). Some good speech points made by various contributors. Graham Watson performs well and Poettering thanks him for his ‘remarkable’ speech.
17.00 Back to the office and some work on amendments for the van den Burgh report which I send to others in the Group.
19.00 Leave, early again(!). Unfortunately no live play at Wimbledon.
10.45 I finally get away and head for the Conrad for the conference. Traffic is terrible and Carol is texting and phoning as they are getting worried. No real problem and I get there in time to chat to the people on the panel that I am chairing on governance. Anyway, all goes well, and I introduce into the discussion whether there is more market abuse by hedge funds than other investments, as some allege. My shoe breaks at the end of lunch so lop-sided walk to get the Metro back. Fortunately my flat en route for shoe change.
15.00 Plenary session with report back from Chancellor Merkel, or rather as she is for a few days yet, President in Office (of Council). Some good speech points made by various contributors. Graham Watson performs well and Poettering thanks him for his ‘remarkable’ speech.
17.00 Back to the office and some work on amendments for the van den Burgh report which I send to others in the Group.
19.00 Leave, early again(!). Unfortunately no live play at Wimbledon.
Tuesday 26 June 2007
End of term-itis
9.00 Get to the office. This morning there are some interesting sessions in the stock exchanges conference. Carol goes. I start working on various papers and points for speeches next week. On Friday I talk to TMPDF and three judges are coming. Feeling sick and suffering from hay fever so decide I can not face a lunch.
14.00 ECON prep meeting. One of those least said soonest mended sessions. I reckon some colleagues must be feeling even worse than me. Andreas Losco does a grand job trying to be peacemaker. I can not really work out what the problem is. I think this is what teachers must call end of term-itis.
15.00 Back to the office where I lurk for as long as possible to get through the papers. I go down to ECON at 4.45 for the session with Neelie Kroes. I get there just in time to hear Jonathan Evans giving a bit of stick about the deletion of undistorted competition from the treaty amendments. If I heard correctly I think he got into it by suggesting that a few members of the Council and Commission would learn a lot from attending a Competition Day! I lead the desk banging.
Neelie is robust in her response to this and other related points saying that the protocol is as binding as the treaty and there is no downgrading and she will not be doing anything differently. It is true nothing has been taken out of the treaty, it is just that a proposed amendment has been changed.
20.00 I go back to my flat having given apologies earlier today for not going to the Gala dinner at the Bourse. I would not be good company sniffling away.
14.00 ECON prep meeting. One of those least said soonest mended sessions. I reckon some colleagues must be feeling even worse than me. Andreas Losco does a grand job trying to be peacemaker. I can not really work out what the problem is. I think this is what teachers must call end of term-itis.
15.00 Back to the office where I lurk for as long as possible to get through the papers. I go down to ECON at 4.45 for the session with Neelie Kroes. I get there just in time to hear Jonathan Evans giving a bit of stick about the deletion of undistorted competition from the treaty amendments. If I heard correctly I think he got into it by suggesting that a few members of the Council and Commission would learn a lot from attending a Competition Day! I lead the desk banging.
Neelie is robust in her response to this and other related points saying that the protocol is as binding as the treaty and there is no downgrading and she will not be doing anything differently. It is true nothing has been taken out of the treaty, it is just that a proposed amendment has been changed.
20.00 I go back to my flat having given apologies earlier today for not going to the Gala dinner at the Bourse. I would not be good company sniffling away.
Monday 25 June 2007
Travelling...
10.15 Off to the airport. Flight is delayed so a bit of a rush to dash straight to the legal affairs committee when I get in at 3.45. Votes at 4.15 include the compromise on the TRIPS amendments, which passes easily. Not surprising as it is a compilation of my and the EPP proposals.
18.00 Meeting with representatives from Scottish Widows and TSB on Solvency ll. Nothing new. The directive is launched in July, and then I will not be wanting to see anyone unless they are coming with a definite problem or proposal, preferably submitted in writing.
18.00 Meeting with representatives from Scottish Widows and TSB on Solvency ll. Nothing new. The directive is launched in July, and then I will not be wanting to see anyone unless they are coming with a definite problem or proposal, preferably submitted in writing.
Friday 15 June 2007
Lisbon - Solicitors and Advocates
9.30 We set off for a meeting with the association of solicitors. They are not the same as UK solicitors in that they have fewer powers and barristers (or advocates) can do everything. However in 2003 solicitors here were also allowed to become enforcement officers. This could give them useful insight into the proposals for attachments of bank accounts so I ask them about this, and also class actions and whether there is a size limit to matters than can be handled via mediation.
11.00 A meeting with the chair of the advocates association. This covers many of the same topics again, but getting at more detail and is useful for future contacts.
13.30 Ursa (our ALDE administrator on JURI) and I take a city tour bus as my flight back is not until this evening and she is staying until Sunday. I have to get back to the UK as I have to go to Witney (Carterton) on Sunday to help with a local by election.
11.00 A meeting with the chair of the advocates association. This covers many of the same topics again, but getting at more detail and is useful for future contacts.
13.30 Ursa (our ALDE administrator on JURI) and I take a city tour bus as my flight back is not until this evening and she is staying until Sunday. I have to get back to the UK as I have to go to Witney (Carterton) on Sunday to help with a local by election.
Thursday 14 June 2007
Lisbon
9.45 We assemble and go by coach to the European Parliament Office in Lisbon for a meeting with the former Commissioner Vitorino. It is raining (in Lisbon in June, meanwhile it is 30 degrees in Copenhagen!!) and we do not have umbrellas.
First our coach gets lost, well actually heads off for the Parliament which is where we are going this afternoon. Then it can not get close to the Parliament office so we all have to walk in the rain. Some of the female group staff have got the wrong shoes for this in the rain…female MEPs appear more circumspect….and we are all pretty good at adapting our dossiers as umbrellas. The meeting is interesting. Among other things we raise the issue of missing children in Portugal. It is a problem that in Portugal a missing child can not be deemed abducted for 48 hours. We also discuss mediation, which they have used effectively in Portugal in recent years and so it is hoped that this experience will help to solve some of the problems with the Directive during their Presidency. Other topics include money laundering, terrorism and immigration.
14.30 We arrive at the Parliament. Again we discuss mediation and arbitration.
16.00 Next meeting is with the Minister and his team. Again we discuss mediation and also the ECJ decision that says EU law can be backed up by criminal sanctions. The truth here is that we are all awaiting another ruling from the ECJ which we do not expect to be quite so extensive as the last one, or at last gives more guidelines as to where it may have a legal base. We also have some exchanges on intellectual property and class actions. The same subjects are discussed informally in different groupings over dinner.
First our coach gets lost, well actually heads off for the Parliament which is where we are going this afternoon. Then it can not get close to the Parliament office so we all have to walk in the rain. Some of the female group staff have got the wrong shoes for this in the rain…female MEPs appear more circumspect….and we are all pretty good at adapting our dossiers as umbrellas. The meeting is interesting. Among other things we raise the issue of missing children in Portugal. It is a problem that in Portugal a missing child can not be deemed abducted for 48 hours. We also discuss mediation, which they have used effectively in Portugal in recent years and so it is hoped that this experience will help to solve some of the problems with the Directive during their Presidency. Other topics include money laundering, terrorism and immigration.
14.30 We arrive at the Parliament. Again we discuss mediation and arbitration.
16.00 Next meeting is with the Minister and his team. Again we discuss mediation and also the ECJ decision that says EU law can be backed up by criminal sanctions. The truth here is that we are all awaiting another ruling from the ECJ which we do not expect to be quite so extensive as the last one, or at last gives more guidelines as to where it may have a legal base. We also have some exchanges on intellectual property and class actions. The same subjects are discussed informally in different groupings over dinner.
Wednesday 13 June 2007
Bob the Builder
8.30 A photo op with Bob the builder (!) to do with energy saving buildings.
9.00 Another photo op with plastic bottles and cans for recycling.
10.00 Meeting about a securities seminar session that I am chairing the week after next.
11.00 Discussions on TRIPS, paperwork, preparing trunk for Strasbourg and then at 3pm off to Lisbon for meetings on the Portuguese Presidency with the JURI committee. This evening I have a dinner with the ALDE group coordinators, who are also here for meetings tomorrow with the Presidency. The EPP coordinators have apparently gone off to much more exotic Portuguese climes.
9.00 Another photo op with plastic bottles and cans for recycling.
10.00 Meeting about a securities seminar session that I am chairing the week after next.
11.00 Discussions on TRIPS, paperwork, preparing trunk for Strasbourg and then at 3pm off to Lisbon for meetings on the Portuguese Presidency with the JURI committee. This evening I have a dinner with the ALDE group coordinators, who are also here for meetings tomorrow with the Presidency. The EPP coordinators have apparently gone off to much more exotic Portuguese climes.
Tuesday 12 June 2007
My Birthday!
9.00 Spend the entire morning on the latest voting list for the financial services white paper and doing some swapping of lists with other MEPs.
12.45 Lunch with the Alternative Investment Managers Association. This is a meeting on hedge funds that I am co-hosting. The presentations are very helpful. I am hoping that slowly people will begin to realise that not all hedge funds are the same and that even those that appear in the press as aggressive could not be so if there were not some underlying flaw for them to pick at. I think we must dig further on market abuse points as there was a steong belief by some MEPs that funds indulged in collusions that would in fact be illegal, which was hotly contested. I suspect that because collusion is not allowed the press is used instead.
15.00 Back to the office then summoned (well, invited) to a meeting with the Romanian Justice Minister. I am able to raise my concerns about the abilities of the Romanian legal system in technical areas like competition and financial fraud. I raise the matter of the Credit Suisse employee that I have also raised with Commissioner Frattini, who so far has not replied. In particular I raise the matter of length of proceedings.
17.00 Into Group Meeting to listen to the Romanian Prime Minister.
18.00 Reception for the South East England Development Agency.
12.45 Lunch with the Alternative Investment Managers Association. This is a meeting on hedge funds that I am co-hosting. The presentations are very helpful. I am hoping that slowly people will begin to realise that not all hedge funds are the same and that even those that appear in the press as aggressive could not be so if there were not some underlying flaw for them to pick at. I think we must dig further on market abuse points as there was a steong belief by some MEPs that funds indulged in collusions that would in fact be illegal, which was hotly contested. I suspect that because collusion is not allowed the press is used instead.
15.00 Back to the office then summoned (well, invited) to a meeting with the Romanian Justice Minister. I am able to raise my concerns about the abilities of the Romanian legal system in technical areas like competition and financial fraud. I raise the matter of the Credit Suisse employee that I have also raised with Commissioner Frattini, who so far has not replied. In particular I raise the matter of length of proceedings.
17.00 Into Group Meeting to listen to the Romanian Prime Minister.
18.00 Reception for the South East England Development Agency.
Monday 11 June 2007
A postponed vote
14.00 ECON prep meeting on the financial services white paper. I think we are reaching some compromises within our Group and making some progress, but there is still a lot of work needed. It seems really impractical to try and vote today. I am beginning to think I will vote against it if we have to rush too much.
15.00 ECON. It is decided to postpone the vote on the financial services white paper until next week. We have a discussion with Trichet from the ECB and discuss amendments to my report on attachment of bank accounts. I then dash down two floors to the JURI committee in time to discuss the amendment to Article 31 of TRIPS.
18.00 Back to the office. I prepare an amendment to the report on TRIPS.
15.00 ECON. It is decided to postpone the vote on the financial services white paper until next week. We have a discussion with Trichet from the ECB and discuss amendments to my report on attachment of bank accounts. I then dash down two floors to the JURI committee in time to discuss the amendment to Article 31 of TRIPS.
18.00 Back to the office. I prepare an amendment to the report on TRIPS.
Friday 8 June 2007
Day in the office
I am still in Brussels. Spend the day catching up on various Intellectual property issues and also have a meeting with Consumer Organisation about Radio frequency tagging.
Thursday 7 June 2007
USA, Scotland and Place de Luxembourg
8.00 Kangaroo Group breakfast on how much are we regulated by the US. There is a feeling that we are now influencing them as much as vice versa. There is a useful presentation also on International Financial reporting Standards (on which I am half way through preparing our amendments). Some concern that the US may not accept the flexibility of interpretation that a minimum harmonising proposal allows and so although saying they accept IFRS will say ‘but not your version’. This needs further exploration ut it could just be a waystage position.
10.45 Meeting with Commission on patents
11.30 Votes.
12.30 Lunch with Scottish Enterprise and various Scottish financial institutions. People forget how important finance is to Scotland, 10% of their jobs depend upon it!
15.00 Meet various people for discussions on way back to Parliament from lunch venue – seems difficult to try and get across Place de Luxembourg unseen! Then more on amendments...
10.45 Meeting with Commission on patents
11.30 Votes.
12.30 Lunch with Scottish Enterprise and various Scottish financial institutions. People forget how important finance is to Scotland, 10% of their jobs depend upon it!
15.00 Meet various people for discussions on way back to Parliament from lunch venue – seems difficult to try and get across Place de Luxembourg unseen! Then more on amendments...
Wednesday 6 June 2007
Amendments
8.30 LDEPP meeting.
9.00 Back to the office for more struggles with amendments.
10.30 Meeting with the Forum of Private Business.
11.00 Group meeting.
12.30 Photo with group of visiting Lib Dems.
13.00 SME circle lunch. The major topic of discussion is the reclassification of various previously exempted technology goods for import duty. A lot of this is due to the way in which technology has become integrated so that a still digital camera (exempt) that can now take a short moving sequence is classed as a movie camera (not exempt). This is bad news for many industries and seems rather like some over zealous interpretation. I feel some Parliamentary Questions coming on.
15.00 I thought I had a meeting with Commissioner Kroes but it seems to have migrated to another week again. So back to the amendments.
16.30 Meeting with FSA/CEIOPS (Insurance regulators).
17.15 Meeting with 3i on private equity and venture capital.
18.00 Reception for mutual societies organisations. We have today voted an amendment saying we want a European Mutuals statute. This would be a revival of a proposal that got axed when lots of old proposals were scrapped. We said it was a mistake to get rid of this one at that time.
9.00 Back to the office for more struggles with amendments.
10.30 Meeting with the Forum of Private Business.
11.00 Group meeting.
12.30 Photo with group of visiting Lib Dems.
13.00 SME circle lunch. The major topic of discussion is the reclassification of various previously exempted technology goods for import duty. A lot of this is due to the way in which technology has become integrated so that a still digital camera (exempt) that can now take a short moving sequence is classed as a movie camera (not exempt). This is bad news for many industries and seems rather like some over zealous interpretation. I feel some Parliamentary Questions coming on.
15.00 I thought I had a meeting with Commissioner Kroes but it seems to have migrated to another week again. So back to the amendments.
16.30 Meeting with FSA/CEIOPS (Insurance regulators).
17.15 Meeting with 3i on private equity and venture capital.
18.00 Reception for mutual societies organisations. We have today voted an amendment saying we want a European Mutuals statute. This would be a revival of a proposal that got axed when lots of old proposals were scrapped. We said it was a mistake to get rid of this one at that time.
Tuesday 5 June 2007
Airports and Labour Law
9.00 ECON again. We discuss airport charges, mergers and acquisitions and have an exchange of views with the Chairman of CESR (the Committee of European Securities Regulators).
12.15 European Parliament Financial Services Forum lunch on Target2 Securities.
15.30 ECON again and votes on labour law. At the end of the ECON meeting we have a discussion on the amendments to the financial services white paper amongst the principal protagonists.
19.30 back to flat
12.15 European Parliament Financial Services Forum lunch on Target2 Securities.
15.30 ECON again and votes on labour law. At the end of the ECON meeting we have a discussion on the amendments to the financial services white paper amongst the principal protagonists.
19.30 back to flat
Monday 4 June 2007
Arrival in Brussels - ECON on Statistics
8.30 Leave for Heathrow. I am getting the earlier flight, which is a little inconvenient as we are trying also to meet some noon amendment filing deadlines and I am in transit at crucial times. It is good to be in Brux for 1pm and have time before committee, but on balance I think it is preferable to have the time in communication with my offices before leaving. Once I arrive we work on the financial services white paper amendments.
15.00 Into the ECON committee. Among other things we discuss my report on the Statistical Advisory Board. Some of my ideas seem well received. I think the German Presidency still want to stick to some exact wording that they have agreed in one or two places, but I am hoping for some input for colleagues first.
19.30 Depart for my flat to dump suitcase before going to a dinner of the International Trademark Association, following from their conference.
15.00 Into the ECON committee. Among other things we discuss my report on the Statistical Advisory Board. Some of my ideas seem well received. I think the German Presidency still want to stick to some exact wording that they have agreed in one or two places, but I am hoping for some input for colleagues first.
19.30 Depart for my flat to dump suitcase before going to a dinner of the International Trademark Association, following from their conference.
4th to 8th June – Mini Plenary
We have had another constituency week, during which I had briefings in the City, and now we have mini plenary week, the committee week being ‘missed’ again. (But they make up for it by squeezing extra committee meetings in both this week and next)
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