EU Factoring and Commercial Finance Federation in collaboration with FCI hosts 3rd Factoring Summit
The EU Federation for the Factoring and Commercial Finance Industry (EUF) and FCI have hosted a highly successful third Summit in Madrid.
A broad and extensive range of C-level participants gathered to consider and discuss the Industry environment and help inform the action plans of the EUF in addressing the opportunities in Europe.
Following two successful Summits in Brussels, this latest meeting was held in Spain, one of the five largest European commercial finance markets. Opened by a “state of the nation” review from Erik Timmermans, the Chairman of the EUF, keynote speaker Pedro Coman from the Bank of Spain addressed the importance of the industry in funding business.
The Summit also considered the significant legal, regulatory and accounting challenges as well as how the Industry might work with potential common interest stakeholders like the Leasing Industry.
Growth, innovation and development opportunities were also subject to detailed analysis and comment in a highly participative event.
The Summit provoked much debate and interest with many commenting on the importance of acting together to address the issues raised. As Erik Timmermans put it “the Industry is currently providing €180bn of funding to European businesses; the Summit has shown again the importance of communicating the benefits - and the particular nature of our Industry - to the regulators and lawmakers to ensure its continued success.”
Newsletter Autumn 2016
The EUF is glad to publish its latest Newsletter.
- Welcome from EUF Chairman
- News on Legal Committee
- Constant and stable growth – Factoring in Figures
- The EBA update the definition of default in factoring
The Newsletter may be downloaded here:
EUF Position Paper on Guidelines on Connected Clients
EUF has sent a Position Paper on EBA’s Consultation Paper on Guidelines on Connected Clients under Article 4 (1) (39) of Regulation (EU) No 575/2013.
EUF announces Agenda for the 3rd Annual Factoring Summit in Madrid
The EU Federation for the Factoring and Commercial Finance Industry (EUF) is delighted to share the Agenda of the 3rd Annual Factoring Summit to be held in Madrid on Thursday 26th January 2017.
This program provides Industry stakeholders with an unmissable opportunity to hear about and discuss with colleagues the latest developments in the European Industry.
The comprehensive agenda will include:
• Erik Timmermans, EUF Chairman on The State of the Factoring Industry in Europe
• Louis-Marie Durand, Euralia on The European political and regulatory landscape in 2017
• Josep Selles, MD Gedesco on Spain showing the way into Reverse Factoring: An overview of the Factoring/ Confirming Industry in Spain, followed by a presentation of the International Reverse Factoring / Supply Chain Finance Initiative from FCI.
• Leon Dhaene, Director General Eurofinas-Leaseurope giving an Update on the European Leasing Industry: Challenges & Opportunities, Leasing & Factoring - partners in advocacy?
• Dirk Van Strijthem, CEO KBC Commercial Finance and André Casterman, CMO INTIX on Fintech: beyond the buzz. R3, Ripple, Trustbills, etc… An overview of some initiatives that may shape the Factoring Industry.
• Antoine de Chabot, ad interim Chairman of the EUF Legal Committee, Diego Tavecchia, Chairman of the EUF Prudential & Regulatory Committee and John Brehcist, EUF coordinator and researcher for the EUF Legal Study will give a Legal & Regulatory Update for the factoring industry in Europe and share first findings of the brand new EUF Study on Legal & Regulatory environments for Factoring in Europe.
• Diego Tavecchia Assifact, Sebastian Erich OFV et al will review and discuss IFRS and its influence on Factoring
• Erik Timmermans, Chairman EUF and Françoise Palle-Guillabert, Vice-Chairman EUF will gather the themes by Bringing it all together; should we / can we come to a harmonized Legal & Prudential environment for Factoring in Europe?
This comprehensive day of information and discussion is not to be missed by anyone who has a stakeholding position in the EU Factoring and Commercial Finance Industry.
Visit the event page for further details and information on how to book your place.
Erik Timmermans, Chairman of the EUF and Deputy Secretary General of FCI commented “The Annual Factoring summit is rapidly gaining a reputation for being the place to be to get a clear picture of the developments, opportunities and challenges the European FCF Industry faces; don’t miss this opportunity to contribute to its future.”
EU Factoring and Commercial Finance Meeting shares continued Success and Progress
The EU Federation for the Factoring and Commercial Finance Industry (EUF) held a Members’ Networking Meeting in Amsterdam on 19th September.
Representatives of the Federation’s Members (who between them represent around 97% of the European industry business turnover) were present both to hear from the ExCom and Technical Committees (who shared the extensive and effective range of lobbying and PR activities undertaken over the last twelve months) and to discuss and inform the Committees’ plans for the coming year.
The EUF has been active in lobbying the European Banking Association, the European Central Bank, the Basel Committee, European Commission, Parliament and Council on a wide range of issues including The Capital Markets Union, AnaCredit proposals, NBNI G-SIFIs reporting, Shadow Banking, the Net Stable Funding Ratio requirements and the role of the Supporting Factor in the provision of SME Finance.
In a busy year, the EUF has also held a second successful Factoring Summit, a Breakfast Workshop and published its White Paper on the Industry. The unique EUF comparative Legal Study will now be updated for a second time to take account of the latest developments in both individual country and European law and regulation.
Members were given a copy of the “hot off the press” EUF Yearbook 2015-16 which highlights all these actions and future plans.
Erik Timmermans, Chairman of the EUF and Deputy Secretary General of FCI commented “It was good to be able to update the whole membership on the progress the EUF has made and to share ideas on how and where we can make further impacts on the development of regulation and lawmaking in Europe”.