file-o file-pdf-o file-word file-excel file-powerpoint file-image file-archive file-audio file-movie file-code file-openoffice file-css menu googleplus facebook instagram twitter feed youtube vimeo2 lanyrd flickr picassa deviantart github wordpress blogger tumblr yahoo soundcloud skype linkedin lastfm delicious stumbleupon stackoverflow pinterest foursquare cross arrow-left arrow-down arrow-up arrow-right arrow-left2 arrow-down2 arrow-up2 arrow-right2 arrow-left3 arrow-down3 arrow-up3 arrow-right3

You are here

L&C 2015 Program

* Program subject to change

View Grid >>   View Details >>   Print Schedule at a Glance >>

Monday, June 22, 2015

11:00 AM

Registration Opens

2:00 PM

1. CRF (Compliance Rapid Fire) Baltimore: 2015

Salon 3, Lobby Level

In this session, a panel of experts will be asked to address a multitude of important  questions (both basic and high level) necessary to help set up and maintain in good standing different potential industry registrants on an ongoing basis (e.g., FCM, Swap Dealer, IB, CTA, CPO, Broker Dealer, DCO, DCM and SEF). The objective will be, with the audience's help, to commit the panelists to resolve what it takes to enable Chief Compliance Officers, Chief Regulatory Officers, in-house Counsel, and their colleagues to comply with both legacy regulations and the myriad of new regulations adopted since Dodd-Frank. Last year it was CSI – this year the theme is Baltimore’s own “The Wire.” Who are the good and bad guys? Sometimes it’s not clear – neither are the answers to many of the hypothetical questions!

Co-Moderators:
Gary DeWaal, Special Counsel, Katten Muchin Rosenman
Ronald Filler, Professor of Law and Director of the Financial Services Law Institute, New York Law School

Speakers:
Paul Architzel, Partner, Wilmer Hale
Thomas Bales, Senior Vice President, Corporate Counsel, Jefferies
Bruce Beatus, Director & Associate General Counsel, Bank of America Merrill Lynch
Daniel Driscoll, Executive Vice President & Chief Operating Officer, National Futures Association
Bill Gerlesits, Chief Compliance Officer, FCM and SD, SG Americas Securities
Kimberly Johns, Vice President & Associate General Counsel, Goldman Sachs
Steven Lofchie, Partner, Cadwalader Wickersham & Taft
Stephen Morris, Executive Director, Legal & Compliance, Morgan Stanley
Stephen Obie, Partner, Jones Day
Lawrence Patent, Of Counsel, K&L Gates
Ananda Radhakrishnan, Partner, Norton Rose Fulbright US
Andrew Vrabel, Executive Director, Global Investigations, CME Group
Petal Walker, Chief Counsel for Commissioner Bowen, Commodity Futures Trading Commission
Carol Wooding, Associate General Counsel, National Futures Association

3:30 PM

Refreshment Break

Salon 2, Lobby Level
4:00 PM

2. Catching Up with the CFTC

Salon 3, Lobby Level

This session will feature a conversation with senior CFTC representatives about their current efforts and future agenda items for regulatory initiatives, rulemakings, and enforcement.

Moderator:
Kim Johns, Vice President & Associate General Counsel, Goldman Sachs

Speakers:
Jeffrey Bandman, Acting Director, Office of International Affairs, and Special Counsel to the Chairman, Commodity Futures Trading Commission
Phyllis Dietz, Acting Director, Division of Clearing & Risk, Commodity Futures Trading Commission
Aitan Goelman, Director, Division of Enforcement, Commodity Futures Trading Commission
Jonathan Marcus, General Counsel, Commodity Futures Trading Commission
Vincent McGonagle, Director, Division of Market Oversight, Commodity Futures Trading Commission
Tom Smith, Interim Director & Chief Accountant, Division of Swap Dealer & Intermediary Oversight, Commodity Futures Trading Commission

5:15 PM

Fireside Chat with Commissioner Giancarlo: A Discussion of the Pro-Reform Reconsideration of the CFTC Swaps Trading Rules - Return to Dodd-Frank

Salon 3, Lobby Level

Speakers:
Christopher Giancarlo, Commissioner, Commodity Futures Trading Commission
Walt Lukken, President & Chief Executive Officer, FIA

6:00 PM

Dinner Reception

Omni Shoreham Hotel, Blue Room

8:30 PM

After-Party

Omni Shoreham Hotel, Palladian Room

Enjoy a nightcap with rockin' tunes from the Precedents, an all-lawyer band that includes many of your colleagues and even some conference attendees as special guests. Drinks and sweets will be served. Open to all conference attendees.

Tuesday, June 23, 2015

7:30 AM

Registration Opens

8:30 AMConcurrent Session

3. Chief Compliance Officer - What Have We Learned?

Salon 3, Lobby Level

This panel will discuss what the feedback market participants have received with respect to CCO Annual Reports and risk management programs for both FCMs and Swap Dealers. The panelists will also exchange views on escalation and self-reporting. 

Moderator:
Michelle Broom, Executive Director, Risk Management Group, Compliance, Macquarie Group, and Chief Compliance Officer, Macquarie Futures (USA)

Speakers:
Kathy Cawley, Director & Compliance Executive, Bank of America Merrill Lynch Global Markets
Rosario Chiarenza, Executive Director, Head of Regulatory Reform Strategy, Morgan Stanley
Katrina Jackiewicz, Vice President, Securities Division Compliance, Goldman Sachs
Christine Parker, Associate, Sullivan & Cromwell
Jamila Piracci, Vice President, OTC Derivatives, National Futures Association
Erik Remmler, Deputy Director, Registration & Compliance, Division of Swap Dealer & Intermediary Oversight, Commodity Futures Trading Commission
Marcia Tu, Director, Americas Compliance Strategy, Credit Suisse Securities USA

8:30 AMConcurrent Session

4. Clients in Distress - Bankruptcy and Sanctions

Maryland Suite, Lobby Level

With recent Ukraine related sanctions, firms and DCOs need to be on alert should a customer be placed on a sanction list. But what is the firm allowed to do? This panel will explore the law around OFAC sanctions and what steps a firm should take to protect itself when carrying margined positions. The panel will also discuss proposed Treasury AML and OFAC rules. The panel will also give a short primer on bankruptcy rules and touch on the practical realities of what happens in bankruptcy of a client – both voluntary and involuntary.

Moderator:
Maureen Guilfoile, Managing Director & General Counsel, ABN AMRO Clearing Chicago

Speakers:
Bruce Fekrat, Executive Director & Associate General Counsel, CME Group
Corinne Goldstein, Partner, Covington & Burling
Melissa Goldstein, Attorney, Schulte, Roth and Zabel
Geoffrey Goodman, Partner, Foley & Lardner
Jim Holderman, Division Director for Financial Crime Compliance, Macquarie Capital Americas
Rachel Nagle, Senior Advisor, Compliance Programs, U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC)

8:30 AMConcurrent Session

5. Basel

Washington 4, Lower Level

What key points does everyone need to know? The panel will discuss leverage ratios, netting, and capital treatment of cleared derivatives. The panelists will also compare and contrast futures and OTC products, look through conditions, de-recognition and indirect clearing.

Moderator:
Maria Chiodi, Managing Director & Counsel, Legal & Compliance, Credit Suisse Securities

Speakers:
Luigi De Ghenghi, Partner, Davis Polk & Wardwell
David Martinez, Vice President, Credit Suisse Securities
Andrew Nash, Executive Director, Morgan Stanley
Mitja Siraj, Head of Legal, FIA Europe
Suzanne Sprague, Managing Director, Credit Risk, Banking & Solutions, CME Group

10:00 AM

Refreshment Break

Salon 2, Lobby Level
10:30 AMConcurrent Session

6. Cybersecurity: How Not to Make the Evening News

Washington 4, Lower Level

Cybersecurity issues are everywhere and should be at the top of every legal and compliance officer’s to-do list. The panel will provide an overview of recent events, offer insight into the regulatory perspective and offer practical suggestions for things to think about and do, including how to manage (and insure against?) cyber risk and how to prepare for and respond to potential incidents.

Moderator:
Alexandra Guest

Speakers:
Edward McNicholas, Partner, Sidley Austin
Daniel Nathan, Partner, Morrison & Foerster
Margaret Paulsen, Director, Financial Services Risk & Regulatory Practice, PricewaterhouseCoopers
Thomas Sexton, Senior Vice President, General Counsel & Secretary, National Futures Association
David Taylor, Attorney Advisor, Commodity Futures Trading Commission
Barbara Wierzynski, Special Counsel, FIA

10:30 AMConcurrent Session

7. Still Failing - Netting and Liquidation of a Customer

Salon 3, Lobby Level

Once a customer is in default, how can the clearing member liquidate the client and net its assets? Topics will include the differences between futures and OTC, and whether the position can or must be liquidated in a house or customer account. The panelists will discuss the FIA netting project, close out of cross margined products and issues that have come to light in other jurisdictions. The panel will also touch on the ISDA Resolution Protocol and Special Resolution Regimes and whether they make a bad situation better or worse?

Moderator:
Robert Klein, Managing Director & Counsel, Citigroup Global Markets

Speakers:
Ruth Arnould, Vice President & Assistant General Counsel, Bank of America Merrill Lynch
Seth Grosshandler, Partner, Cleary Gottlieb Steen & Hamilton
Allison Lurton, General Counsel & Senior Vice President, FIA
Lauren Teigland-Hunt, Managing Partner, Teigland-Hunt
Bob Wasserman, Chief Counsel, Division of Clearing and Risk, Commodity Futures Trading Commission
Michelle Weiler, Assistant General Counsel, ICE Clear Credit, Intercontinental Exchange

10:30 AMConcurrent Session

8. Energy and Other Commodities

Maryland Suite, Lobby Level

The panel will review recent developments affecting participants in physical and financial commodities markets. Topics will include CFTC and exchange developments relating to position limits, the regulation of block trades and EFRPs, the characterization of spot, forward and trade option contracts, and exclusions for commercial end users from existing and proposed rules. The panel will also address Congressional hearings and Federal Reserve Board Rulemakings relating to bank holding company involvement with physical commodities and implementation of the Volcker Rule for commodities activities.

Moderator:
William McCoy, Managing Director & Counsel, Morgan Stanley

Speakers:
Dan Berkovitz, Partner, WilmerHale
Kara Dutta, Assistant General Counsel, Intercontinental Exchange
Joseph Hawrysz, Executive Director, Global Market Surveillance, CME Group
Ronald Oppenheimer, Senior Vice President & General Counsel, Vitol
Paul Pantano, Partner, Cadwalader Wickersham & Taft
Victoria Sharp, Managing Director & General Counsel, Citigroup Energy
Herb Thornhill, Assistant General Counsel, Commercial Operations & Risk Management, NRG Energy

12:00 PM

Keynote Lunch with Michael Hayden

Salon 2, Lobby Level
General Michael Hayden is a retired four-star general who served as director of the CIA and the NSA when the course of world events was changing rapidly. As head of the country's premier intelligence agencies, he was on the frontline of global change, the war on terrorism, and the growing cyber challenge. He understands the dangers, risks, and potential rewards of the political, economic, and security situations facing the nation. Hayden dissects political situations in hot spots around the world, analyzing the tumultuous global environment and what it all means for American and America's interests. He speaks on the delicate balance between liberty and security in intelligence work, as well the potential benefits and dangers associated with the cyber domain.

Speaker:
Michael Hayden, Former Director, Central Intelligence Agency, and Former Director, National Security Agency

2:00 PMConcurrent Session

9. The JAC Margin Handbook - A User's Guide and a Blueprint for Revisions

Salon 3, Lobby Level

The panel will discuss the role of the JAC in the regulation of FCMs and will address topics such as process, transparency, review of JAC handbooks, and some of the points that may surprise you. The panel will also focus on what needs to be updated/conformed, analysis of recent rulemaking initiatives, and the current status of JAC 14-03.

Moderator:
Bruce Beatus, Director & Associate General Counsel, Bank of America Merrill Lynch

Speakers:
Mark Buro, Director, Regulatory Reporting, Bank of America Merrill Lynch
Kevin Foley, Partner, Katten Muchin Rosenman
Stephen Humenik, Of Counsel, Covington & Burling
Debbie Kokal, Executive Director & Chairman of the Joint Audit Committee, CME Group
Stephen Morris, Executive Director, Legal & Compliance, Morgan Stanley
Tom Smith, Interim Director & Chief Accountant, Division of Swap Dealer & Intermediary Oversight, Commodity Futures Trading Commission
Dale Spoljaric, Managing Director, National Futures Association
Teresa Warta, Executive Director, Futures & Options and OTC Clearing Treasury, J.P. Morgan Securities

2:00 PMConcurrent Session

10. EMIR & MiFID II - What You Don’t Know Can Hurt You

Washington 4, Lower Level

Find out the key differences between MiFID and EMIR. This panel will also advise as to the provisions of EMIR and MiFID II that should be of key concern to clearing firms, banks, proprietary trading firms, asset managers and customers. Electronic market access will also be discussed.

Moderator:
Eileen Flaherty, Managing Director, The Global Capital Group

Speakers:
Gérard de Lambilly, Global Head of Legal & Group Corporate Secretary, Societe Generale
Sean Donovan-Smith, Partner, K&L Gates
Jacqueline Mesa, Executive Director, FIA Global
Benjamin Morof, Associate General Counsel & Chief Compliance Officer, Teza Technologies
Matt Vosburgh, Vice President, Barclays

2:00 PMConcurrent Session

11. Same or Different: SEF Execution v. Futures Execution

Maryland Suite, Lobby Level

SEFs are trying to establish a productive marketplace while facing challenges with new products and new regulations. Futures exchanges are long-established but are still facing new regulatory changes. The panel will look at how SEF executions differ from futures executions (and how they are the same) and what lessons each can learn from the other.

Moderator:
Kim Johns, Vice President & Associate General Counsel, Goldman Sachs

Speakers:
Jon Debord, Senior Vice President & Assistant General Counsel, Citigroup
Doug Friedman, Managing Director & General Counsel, Tradeweb
Thomas LaSala, Managing Director & Chief Regulatory Officer, CME Group
Peter Malyshev, Counsel, Latham & Watkins
Nancy Markowitz, Deputy Director, Exchange & Data Repository Branch, Division of Market Oversight, Commodity Futures Trading Commission

3:30 PM

Refreshment Break

Salon 2, Lobby Level
4:00 PMConcurrent Session

12. OCR = Obsessive Compulsive Reporting?

Washington 4, Lower Level

This panel will discuss the recent developments in the Ownership and Control Reporting (OCR) rules. The discussion will focus on the Legal and Operational Challenges in implementing controls related to these requirements. The panelists will also analyze the challenges faced throughout the year, and what issues are still facing the industry.

Moderator:
Scott Taylor, Managing Director, Compliance, Wells Fargo Securities

Speakers:
Neal Kumar, Associate, Cadwalader, Wickersham & Taft
Mary Beth Rooney, Director, Compliance, Citigroup Global Markets
Corey Traub, Director, Exchange-Traded Derivatives Compliance, UBS Securities
Alan Walkow, Vice President, Legal- Derivatives Clearing Services, Goldman Sachs
James Woods, Chief Technology Officer, FIA Tech

4:00 PMConcurrent Session

13. Litigation and Enforcement Update

Maryland Suite, Lobby Level

This panel will focus on significant litigation and enforcement developments impacting our industry, including discussion of key enforcement cases and trends, market manipulation, and recent criminal actions.

Moderator:
Michael Otten, Executive Director, Legal, Nomura Holding America

Speakers:
Jeremy Cusimano, Managing Director, Grant Thornton
Stacie Hartman, Partner, Schiff Hardin
Rosemary Hollinger, Deputy Director, Division of Enforcement, Commodity Futures Trading Commission
Charles Mills, Partner, K&L Gates
Trace Schmeltz, Partner, Barnes & Thornburg
Steven Schwartz, Executive Director, Global Head of Enforcement, CME Group

4:00 PMConcurrent Session

14. CCPs - The New Too Big to Fail?

Salon 3, Lobby Level

CCPs are becoming every market user’s biggest counterparty. So how should legal and compliance professionals evaluate these institutions? This panel will assist the audience in thinking about issues such as: What happens if a CCP fails? What is a QCCP and why does it matter? Why do I care about mutual recognition?

Moderator:
Bonnie Litt, Managing Director & Associate General Counsel, Goldman Sachs

Speakers:
Vijay Albuquerque, Director, Citigroup
Juan Blackwell, Head of Credit & Counterparty Risk Management Advisory, Ontario Teachers’ Pension Plan Board
Douglas Harris, Managing Director, Promontory Financial Group
Kevin McClear, Corporate Risk Officer, Intercontinental Exchange
Jason Silverstein, Executive Director & Associate General Counsel, CME Group
Bob Wasserman, Chief Counsel, Division of Clearing and Risk, Commodity Futures Trading Commission
John Williams, Partner, Milbank, Tweed, Hadley & McCloy

6:00 PM

Reception

Salon 2, Lobby Level

Wednesday, June 24, 2015

7:30 AM

Registration Opens

8:30 AMConcurrent Session

15. Getting it Done: Practical Tips for Implementing Challenging Rules

Washington 4, Lower Level

The panel of industry CCOs, attorneys and  managers will provide practical advice as to how they are handling  the following areas, including vendors used and  feedback received from regulators: disruptive trade practices, supervisory failures, customer protection rules, and the firm -specific risk disclosure.

Moderator:
Patricia Donahue, Senior Vice President, Chief Compliance Officer & Regulatory Counsel, Rosenthal Collins Group

Speakers:
Lisa Dunsky, Counsel, Sidley Austin
John Nicholas, Managing Director, Compliance Department, SG Americas Securities
Michael Piracci, FCM Chief Compliance Officer and Director, Compliance, Barclays Capital
Tom Smith, Interim Director & Chief Accountant, Division of Swap Dealer & Intermediary Oversight, Commodity Futures Trading Commission
Regina Thoele, Senior Vice President of Compliance, National Futures Association

8:30 AMConcurrent Session

16. Ethics

Salon 3, Lobby Level

This panel will discuss key professional responsibility and ethics issues that may confront derivatives lawyers. Topics to be discussed include red flags, gatekeepers and derivatives lawyers; Reporting wrongdoing up the organizational ladder; Anti-evasion considerations in furnishing advice and structuring transactions; Whistleblower issues, including anti-retaliation policies and employment agreements; Internal investigation issues, including dual representations, preserving the attorney-client privilege; and Experts as the lawyer’s agent.

Moderator:
Michael Sackheim, Partner, Sidley Austin

Speakers:
Athena Eastwood, Partner, Cadwalader Wickersham & Taft
Christopher Ehrman, Director, Whistleblower Office, Commodity Futures Trading Commission
Michael Keats, Partner, Stroock & Stroock & Lavan
Meltem Kodaman, Counsel, Sutherland
Howard Schneider, Senior Consultant, Charles River Associates

8:30 AMConcurrent Session

17. Unclear about Uncleared

Maryland Suite, Lobby Level

This panel will focus on a comparison of the different US vs. EU proposals for uncleared swaps, cross-border issues, and the development of novel documentation.

Co-Moderators:
Christian Artmann, Managing Director & Associate General Counsel, Deutsche Bank
Hina Mehta, Executive Director & Counsel, UBS Securities

Speakers:
Julian Hammar, Of Counsel, Morrison & Foerster
Francis Kuo, Attorney, Division of Swap Dealer and Intermediary Oversight, Commodity Futures Trading Commission
Colin Lloyd, Associate, Cleary Gottlieb Steen & Hamilton
Matt Nevins, General Counsel, Geode Capital Management
Jeffrey Robins, Partner, Cadwalader Wickersham & Taft
Wendy Yun, Managing Director & Associate General Counsel, Goldman Sachs Asset Management

10:00 AM

Refreshment Break

Salon 2, Lobby Level
10:30 AMConcurrent Session

18. What's on the Horizon - Both New and Notable

Salon 3, Lobby Level

This panel will explore some of the newer products, such as bitcoin exchange, FX non-deliverable forwards, the changing regulatory landscape in China and some of the recent actions by Canadian regulators with respect to market access and hedger exemptions.

Moderator:
Melissa Andrews, Managing Director, General Counsel, R.J. O’Brien & Associates

Speakers:
Greg Kuserk, Deputy Director, Product Review Branch, Division of Market Oversight, Commodity Futures Trading Commission
Kari Larsen, General Counsel & Chief Regulatory Officer, LedgerX
Steven Lofchie, Partner & Co-Chairman, Financial Services Department, Cadwalader, Wickersham & Taft
Robert Paul, Consultant, Legal Department, HSBC Securities
Joseph Pucci, General Counsel & Chief Compliance Officer, Nanhua USA

10:30 AMConcurrent Session

19. Developments in Asset Management

Washington 4, Lower Level

This panel will discuss no-action relief, including panelists’ thoughts on the more recent CPO no-action letters, annual reporting requirements for CPOs and CTAs and other recent developments with respect to an asset manager’s use of derivatives.

Moderator:
Ari Nakkab, Deputy Chief Compliance Officer, Global Head of Fixed Income Compliance, Millennium Management

Speakers:
Patricia Cushing, Director, Compliance, National Futures Association
Susan Ervin, Partner, Davis Polk & Wardwell
Rita Molesworth, Partner, Willkie Farr & Gallagher
Amanda Olear, Associate Director, Registration & Compliance Branch, Division of Swap Dealer & Intermediary Oversight, Commodity Futures Trading Commission

10:30 AMConcurrent Session

20. The Basics of Customer On-Boarding Post Dodd-Frank

Maryland Suite, Lobby Level

Given the various changes in global regulations, many FCMs have had to re-paper in one form or another. This panel will discuss the key changes to customer documentation in the last year as a result of EMIR, Ownership and Control Report, risk disclosure statements, FATCA and Joint Audit Committee actions. The panel will discuss whether additional changes are on the horizon.

Co-Moderators:
Tammy Botsford, Vice President & Assistant General Counsel, J.P. Morgan
Julie Mao, Director & Counsel, Credit Suisse Securities

Speakers:
Tom Cohen, Managing Director, SG Americas Securities
Greg Hostetler, Chief Compliance Officer, Futures Division, Wedbush Securities
John Nicolson, Director & Assistant General Counsel, Bank of America Merrill Lynch
Ray Ramirez, Associate, Sutherland Asbill & Brennan
Kathryn Trkla, Partner, Foley & Lardner

12:00 PM

Farewell Networking Box Lunch

Salon 2, Lobby Level