Programme
Day two — Thursday 1 March 2007
08:30
sponsored by CRS logo
Coffee
09:00
Chairman's opening remarks
Jane Diplock
Chairman, Executive Committee, International Organisation of Securities Commissions
Chairman, New Zealand Securities Commission
09:10
Panel session
Building a new financial regime in the Gulf: the dos and don'ts
  • What are the challenges of creating a new financial services regulator?
  • Influences from overseas regulators and attracting a talented workforce.
  • What are the main areas of regulatory scrutiny?
Michael Raffan, Partner, Head of Financial Services Practice
Freshfields Bruckhaus Deringer
Phillip Thorpe, Chairman and Chief Executive
Qatar Financial Centre Regulatory Authority
Michael Blair QC, Board Member
Dubai Financial Services Authority
10:10
Regulation and cross-border developments
  • The importance of international cooperation and memorandam of understanding.
  • International developments and how these will affect the Gulf region.
Jane Diplock
Chairman, Executive Committee, International Organisation of Securities Commissions
Chairman, New Zealand Securities Commission
10:40
sponsored by CRS logo
Morning refreshments
11:10
Training and education initiatives
Nick Bannister, Managing Director
NASD
Khalil Nooruddin, Director
Bahrain Institute of Banking and Finance
Errol Hoopmann, Special Counsel
Dubai Financial Services Authority
12:00
Panel session
Authorisation
  • What are the key threshold conditions set by regulators in the Gulf? How are these threshold conditions being met by international and regional firms?
  • Differences in approach between GCC regulators
  • Approaches to authorisation of collective investment funds
Niall Coburn
Director of Enforcement, Dubai Financial Services Authority
Internal Chair, Authorisation Committee, Dubai Financial Services Authority
Richard Collins, Managing Director, Authorisation
Qatar Financial Centre Regulatory Authority
Husam Hourani, Partner
Al Tamimi & Co
12:50
sponsored by CRS logo
Networking lunch
14:15
Panel session
Enforcement in the Gulf
  • What is a risk-based approach to enforcement?
  • What are the key enforcement tools available to regulators in the region?
Moderator: Jamie Orchard, Chief Operating Officer and Managing Director, Legal and Regulatory Compliance
Qatar Financial Centre Regulatory Authority
Niall Coburn
Director of Enforcement, Dubai Financial Services Authority
Internal Chair, Authorisation Committee, Dubai Financial Services Authority
15:00
Panel session
AML Regulatory Requirements in the Gulf Region and the Middle East
Money laundering is today's most elusive, difficult to manage, and feared risk. As we pursue global interests to prevent and detect money laundering it is important that we recognize and discuss the related challenges within the Gulf and Middle East region. Specifically, this session will address questions such as the consistency of AML requirements and standards issued as well as enforcement actions. Moreover, the panel will discuss the significance of balancing regulatory expectations with the realities of running an effective business, the influence of purported leading practices, and the impact of unique local considerations on regional regulatory management and directives.
  • What are the key risks for the Gulf region?
  • How can banks identify and manage those risks?
  • The US approach and issues of extra-territoriality
Moderator: Michael Matossian, Global Head of Group Regulatory Compliance
Arab Bank Plc
Rachel Loeffler, Deputy Director - Middle East and Africa
US Department of the Treasury
15:45
sponsored by logo
Afternoon tea
16:00
Closing panel session — panel and floor discussion
Phillip Thorpe, Chairman and Chief Executive, Qatar Financial Centre Regulatory Authority
Jane Diplock
Chairman, Executive Committee, International Organisation of Securities Commissions
Chairman, New Zealand Securities Commission
Michael Blair QC, Board Member, Dubai Financial Services Authority
Khalid Hamad, Executive Director, Banking Supervision
Central Bank of Bahrain
16:45
Chairman's closing comments and introduction of the 2nd GCC Regulators' Summit agenda
17:00
Close of conference
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