5th Annual Compliance Conference

08:30	Coffee and registration
09:15	Breakout sessions Following morning registration the conference will breakout into two streams, enabling delegates to discover greater insights on current securities & banking and insurance themes.
09.20	Securities & banking Following morning registration the conference will breakout into two streams enabling delegates to discover greater insights on current securities & banking and insurance themes. Chairperson's opening address Deborah Sabalot, regulatory consultant, Deborah Sabalot Regulatory Consulting	Insurance This insurance stream will provide an in-depth look into broker remuneration and the possible conflicts of interest, reinsurance and the impact of the sub-prime crisis, CEIOPS update on Solvency II and the latest on fraud from the Insurance Fraud Bureau. Chairperson's opening address Joanne Wallen, senior editor - retail, Complinet Ltd
09:25	I fought the law but the law won Assessing the implications of enforcement action in the "new world" Ensuring compliance in a principles-led world Future relationship between Regulatory Decisions Committee and the Enforcement Division Ian Mason, partner, Barlow Lyde Gilbert LLP Tim Herrington, Chairman, RDC	Broker remuneration/conflicts of interest The European Commission recently published the final report into the European business insurance sector. This session focuses on the main aspects surrounding broker remuneration and conflicts of interest. Is the tide turning in favour of increased transparency? Is there likely to be greater onus on brokers? Increased establishment of "Chinese Walls" Martin Mankabady, partner, Lawrence Graham LLP
10:00	Basel II - strengthening your security Basel II is a reality for the international banking and finance community. At a time when any regulatory development is seized upon as an opportunity to re-engineer processes, realise savings or pursue competitive advantage, Basel II stands out as the real thing. The key challenges and current state of play of Basel II Failure points/hurdles that still exist Home/host state complexities and differing rules Impact on relationship with the FSA Understanding the compliance officers ongoing role with Internal Capital Adequacy Assessment Process (ICAAP) Fiona Raistrick, senior manager, financial services regulatory practice, BDO Stoy Hayward LLP	Solvency II - update from CEIOPS 30 years overdue the EC has published its proposed Solvency II directive which will finally eliminate disparity between risk and regulation. Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) perspective and what to expect Day after tomorrow: immediate change or is there time on our side? Big is better: are small firms getting the short straw with the standard model? Implications of doing business with non-solvency compliant firms The next rockslide - are current financial instruments safe enough in the light of the Northern Rock scandal? Carlos Montalvo, secretary general, CEIOPS
10:35	Morning refreshments
11:05	Living on the hedge... Over the years, as the hedge fund universe has grown into a trillion-dollar industry, it has become the focus of increased attention from investors and regulators. Hedge funds have raised eyebrows at the Financial Services Authority (FSA), which is concerned with the complacent attitude to preventing market abuse. As a result the FSA is now looking to incorporate a greater regulatory stance on industry controls. Is the hedge fund bubble about to pop? Continuing to deliver performance in light of the current credit crunch Plugging the leaks: ensuring the appropriate market abuse systems and controls are in place Where will the eventual regulatory burden fall? David Aldrich, managing director, Bank of New York Mellon Angela Hayes, partner, financial services group, Lawrence Graham Steven Woolfe, barrister, general counsel, Boyer Allan Investment Management LLP Matthew Jones, manager, regulatory department, AIMA	Reinsurance This session will seek to examine the latest regulatory requirements facing the reinsurance market and the maintenance of a firm's global stability. Mutual recognition: are the current proposals fair? Challenges of doing business globally Subsidence or stability - The sub-prime crisis Is 2008 going to be the worst year yet? Provisions relating to insurance special purpose vehicles What are the regulatory requirements which they are subject to in the UK? When would such an ISPV qualify for a more favourable tax treatment? What are the likely future developments? Lorraine Mullins, group compliance officer, Catlin
11:40	3MLD - 3 months on... On December 15, all EU member states should have implemented the Third Money Laundering Directive. This session will examine the immediate obligations of firms and individuals and explore its potential future impact. Early feedback on 3MLD Current practical problems firms are facing PEPs and beneficial ownership Ongoing monitoring What are the possible pitfalls with CDD? Reliance on 3rd party CDD What information helps you to decide the appropriate level of CDD to use? Cross border transactions Value of an EU equivalent list Equivalent jurisdictions (EU v non-EU) Sanctions Interpretation of different sanctions (OFAC, EU) What are likely knock-on effects of changes to EU money laundering legislation in the US market? David Hotte, group AML department head, Banque Fédérale des Banques Populaires David Skade, head of financial security and MLRO, Calyon Chris Leatherland, head of financial crime and MLRO, GE Capital Bank Ltd	Insurance fraud Insurance fraud is a serious growing problem. Motivations to commit fraud vary, from opportunistic individuals submitting a fraudulent claim as a way of recovering their premiums, through to criminal networks that use fraud as a regular source of revenue generation. Update from the Insurance Fraud Bureau Impact of insurance fraud: are we winning or losing? Tackling fraud on a national level John Beadle, director, Insurance Fraud Bureau
12:15	Lunch
13:25	Panel discusion: Principles-led regulation — into the unknown Achieving compliance in a principles-led regulation world Getting used to the norm: constant obligation to review the conformity of their business practices Are your customers continuing to be treated fairly? Are conflicts of interest being managed appropriately? Are the business risks being managed? Relationship with regulator(s) Aligning ARROW visits to business performance Managing information management, retention and retrieval needed to evidence and justify why decisions were taken Assessing the implications of enforcement action Tracking changes in rules, regulations, regulatory attitudes and customer outcomes - is there a need for an enhanced early warning system? Marcus Sephton, head of regulatory RAR department, KPMG Mike Parker, director of regulatory affairs, legal risk & capital, Deutsche Bank AG Roland Nattrass, senior associate, Nabarro Jane Green, UK Regulation, FOA
14:15	Rules are made to be broken! As self-regulatory organisations in the US consolidate their regulatory systems and move towards the type of principles-led regulation used in other countries this session will examine the impact this will have on a previously stern ironclad country. Update on the NASD/NYSE member regulation consolidation Reasons and benefits Ongoing debate between broker/dealers and investment advisors Overview of Regulation NMS and comparison to MiFID Intermarket surveillance in the US and difficulties being addressed Jeanne Balcom, senior director, international department, FINRA
14:50	Panel discussion: Natwest Three - is this just the tip of the extradition iceberg? The simplification of extradition arrangements from the UK to the US, coupled with the growing willingness of US prosecutors to exert long-arm jurisdiction, has significantly increased the extradition risks UK executives face when doing business in the US. With a Gordon Brown government less likely to review the treaty, this session will look at the titanic struggle directors could face of extradition to the US. The powers of authorities in the US with their move to principles-based regulation Deadly mix: a look at the increased risk exposure that directors face in the light of the new companies act. Mark Spragg, partner, Jeffrey Green Russell LLP Anand Doobay, partner, Peters & Peters Ben Brandon, barrister, Three Raymond Buildings
15:25	Chairperson's closing address
15.30	Close of conference

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