| 10.00 – 10.15 |
Introduction
Antonio
Borges
Chairman, European Corporate Governance Institute
and Vice-Chairman, Goldman Sachs International |
| 10.15– 10.45 |
Keynote
Address (see speech)
Alexander
Schaub
Director General, European Commission, DG Internal
Market |
| Session
1 – The European Experience and its implications
for the United States
|
|
Through a series of legislative measures and in
recent landmark cases, the European Commission and
the European Court of Justice have affirmed the
principle of freedom of establishment of companies
in the European Union. These cases have fundamental
implications for the structure and operation of
European companies and capital markets and open
up the possibility of competition emerging between
different governance systems. Some people argue
that this creates new opportunities for companies,
financial institutions and for overcoming protectionism
but others fear that it will undermine regulatory
and legal standards. In this first session, legal,
economic and Commission experts will describe the
recent developments and evaluate their implications
for Europe and the transatlantic relationship with
the United States. |
| 10.45– 12.30 |
Moderator
Klaus
J. Hopt
Professor and Director, Max Planck Institute
for Foreign Private and Private International Law,
Hamburg; ECGI Fellow
Panel
Eddy
Wymeersch
Professor of Law, University of Ghent; Chairman,
Belgian Banking, Finance and Insurance Commission;
ECGI Fellow
Gerard
Hertig
Professor of Law, Swiss Institute of Technology
Colin
Mayer
Peter Moores Professor of Management Studies (Finance),
Said Business School, University of Oxford; ECGI
Fellow
David
Wright
Director, European Commission, Internal Market and
Financial Services DG |
| 12.30 - 13.00 |
Keynote
Address
Mario
Draghi (see speech)
Vice Chairman and Managing Director, Goldman Sachs
International |
Session
2 – The US Experience and its implications
for Europe |
| Recent developments
in American corporate law have been dramatic. Enron
and other scandals have posed fundamental questions
about the legal structure of relationships among managers,
directors, shareholders, gatekeepers, and the different
institutions of government charged with oversight
and enforcement. The federal Sarbanes-Oxley statute
has imposed new requirements on public corporations.
Some people argue that regulatory competition between
states and "forum shopping" caused an erosion
of standards that had to be corrected through federal
intervention, while others have warned against a "creeping
federalization of corporate law" stifling regulatory
innovation by state legislatures. In this second session,
legal experts from the United States will analyse
the shifting distribution of authority between the
national and state governments in the U.S. and evaluate
the implications for the United States and the transatlantic
relationship with Europe. |
| 14.30 - 16.15 |
Moderator
Lance
Liebman
William S. Beinecke Professor of Law, Columbia University,
Director of the American Law Institute
Panel
Ronald
Gilson
Professor of Law and Business, Columbia University;
ECGI Fellow
Melvin
Eisenberg
Koret Professor of Law, University of California,
Berkeley
Mark
Roe
David Burg Professor of Law, Harvard Law School;
ECGI Fellow
John
Coffee
Adolf A. Berle Professor of Law, Columbia Law School;
ECGI Fellow |
| 16.45– 17.15 |
Keynote
Address
Harvey
Goldschmid
Commissioner, United States Securities and Exchange
Commission |
| Session
3 – Floor discussion and summing up |
| 17.15 - 18.00 |
Chair
Antonio
Borges
Chairman, European Corporate Governance Institute
and Vice-Chairman, Goldman Sachs International
Summing
up
Marco
Becht
Professor of Finance and Economics, Université
Libre de Bruxelles; ECGI Executive Director |
| 20.00 |
Dinner
Speech (see speech)
Frits Bolkestein
Member of the European Commission responsible for
the Internal Market, Taxation and Customs |
