It is the 4th annual conference of the Institute of Economic Affairs, this year the hot topic is the future of the broadcasting industry.
This afternoon's session is looking at regulatory frameworks to protect the interests of both the public and the industry.
First up is Harald Trettenbrein, head of sector, director general for information society and media at the European Commission, speaking about updating international standards for broadcasting as borders dissolve, business models and promoting a single TV market across Europe.
Then Tim Suter, partner, content and standards at Ofcom, will be discussing how far, if at all, it is possible to relax regulation for the future of UK broadcasting.
Mr Trettenbrein is here to explain the European legal framework and where the industry is heading - and to placate a twitchy UK industry worried about over-regulation from afar.
He starts off explaining the need for an overhaul of regulations - in the 1980s the legal framework covered 50 main TV channels now there is mass choice - 2,500 channels - as well as on-demand content and consumer control.
There has been difficulty talking to the UK broadcasting industry about this, there is a certain wariness toward what is seen is Europe-wide control.
"It is difficult to understand the reluctance in the UK discussion," he says.
New regulation is, he posits, about freedom, a common set of minimum rules.
In fact, the UK broadcasting industry is "privileged" because English is spoken in most European states. Furthermore, the UK has the greatest number of broadcasters with a pan-European or multi-European territory audience. In practical terms it is 400m more customers.
The need for regulation is about providing legal certainty, a level playing field - there is a specific need due to on-demand services.
"There is hardly any regulation for on-demand, non-linear services. The idea is actually to lower regulation for linear TV and put minimum regulations forward for on-demand services."
However, the idea is not for an extension of TV regulation but a distinct set of rules for on-demand.
"We are not looking to regulate the internet," he says by way of reassurance.
There is no interest in private web sites or non-commercial activities.
One goal is to "protect minors and human dignity" by making sure some content, such as adult material, available but difficult for minors to access.
He briefly touched on the idea for limiting alcohol, tobacco and ads targeted at children.
There would be a two-tier system of regulation based on the degree of choiced and control exercised by consumers and the degree of impact on society.
One for linear TV and live web casting. A second for the likes of video-on-demand.
The media sector is a "very delicate" issue for media states. A sector where you have to rely on industry itself to implement standards.
He ends by reassuring the industry that it is the commission's belief in a large degree of self- and co-regulation.
