On October 2, 2012, the European Commission's High-level Expert Group on Bank Structural Reform led by Erkki Liikanen presented its report. It suggests "ring-fencing" of proprietary and third-party trading activities both in terms of risk management and capital allocation. The idea is to get tax-payers off the hook by separating risky trading activities from retail banking. Is this the right way forward? The Commission has not taken any immediate action based on the recommendations in the report but has initiated an impact assessment. In the meantime the European Parliament has initiated an own initative report to express its view on which actions should be taken. Discussion points:The proposals in the Liikanen report – are they the right way forward?"Ring-fencing" risky trading – will it work in reality? Can it actually get the taxpayers off the hook?How does the proposal fit in with measures already taken or already on the way (banking union, capital requirements etc.)?How does the proposal fit in in an international context (Volcker rule in the US and the Vickers "ring-fence" in the UK)?Can proprietary trading easily be defined or will clever bankers find their way around the rules? Confirmed speakers:Arlene McCarthy MEP, European ParliamentMario Nava Director, Directorate H – Financial Institutions, DG MARKT, European CommissionMonique Goyens Director General, BEUC and Member of the European Commission's High-level Expert Group on reforming the structure of the EU banking sectorIain Cummings Partner, Financial Services, KPMG, UKModerator: Daniel Gros Director Economic Policy, CEPS –Centre for European Policy Studies