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October 17, 2012
Brattle Consultants to Present at EUCI Conference on EU Financial Reforms Compliance

Brattle principal Dan Harris and senior consultant Shaun Ledgerwood will present at the upcoming EUCI conference, “Compliance under Emerging Financial Reforms in European Markets,” taking place October 17-18, 2012 in Brussels, Belgium. The two-day international forum will broadly define and discuss emerging financial reform efforts that have arisen in the EU markets, most notably regulations under MiFID (Markets in Financial Instruments Directive) II, REMIT (Regulation on Energy Market Integrity and Transparency), and MAR (Market Abuse Regulation), as well as equivalent laws in the U.S. and other statutes designed to curb market abuse. Speakers will explore how these new and existing regulations will impact the financial and commodity markets, particularly energy firms, utilities, and related market-dependent organizations. Mr. Harris will moderate the panel session, “The Competing Interests of Financial Reform and Competition Law.” The panel will consider the concepts and principles of competition law with a particular focus on how they apply to both pooling of risk versus market power/entry barriers. Dr. Ledgerwood will present during the session, “Frictions and Complementarities between EU Market Abuse Regulations and Competition Law.” His presentation will highlight the criteria used to determine a market manipulation and will reconcile prior manipulation cases by using an analytical framework that describes price-based manipulation as an intentional act made to cause a directional price movement to benefit financially leveraged positions that tie to that price.