As an MEP, Kay's main political priorities in Wales include fostering economic vitality through sustainable investment and improvements in rural support. She has been working towards creating a strong, stable Welsh economy which looks to encourage and support trade and businesses, particularly SMEs who are fundamental to economic recovery.
Elected to the European Parliament in 2009, throughout her term she has served on the European Parliament’s Economic and Monetary Affairs Committee (ECON), most recently as Vice-Chair. She is also a Member of the PANA Committee on money laundering, and a Member of the influential EU Delegation for Relations with the United States.
Her membership of the ECON Committee has seen her draw upon experience working in the City of London. A strong proponent of competition and open markets, she has consistently defended the UK's financial institutions and pushed back against regulations that threaten to suffocate financial services or create an un level playing field. She believes global markets should be regulated with fair and equitable rules, while keeping red tape to a minimum.
Over her time in Parliament, Kay considers her greatest successes to include securing a broad corporate exemption for derivative clearing in EMIR, devising the dual voting mechanism for inclusion in the European Banking Authority structure which protects the interests of non-Eurozone Member States and finally, ensuring that the new MiFID 2 proposals apply the application of open, non-discriminatory access to all EU markets infrastructure so as to promote competition and reduce investor cost.
Kay has been rapporteur or shadow rapporteur on numerous reports including the recovery and resolution framework for non-bank institutions, CSDs, dark pools, ESFS, market abuse, insider dealing and OTC derivatives. Furthermore, she has been instrumental in shaping the EU supervisory architecture, which resulted in the formation of the ESRB, ESMA, EIOPA and the EBA as well as the creation of an SSM for Eurozone banking X and its accompanying single resolution fund.
She has spoken at a number of the largest financial services conferences, including those organised by ISDA, FISD, TheCityUK, FIA, OpenEurope, and the World Federation of Exchanges; through her regulatory work, she has worked closely with all the global regulators, including the FCA, ESMA, MAS, HKMA, SEC, FINRA, and CTFC; she was recognised as one of the most influential women in finance by Financial News and one of the most influential Britons in the EU by Euroactive.