Tuesday, 2 July 2013
8:30 – 17:30
K&L Gates
One New Change, London
K&L GATES EIGHTH ANNUAL INVESTMENT MANAGEMENT CONFERENCE
Global Legal and Regulatory Issues for Investment Managers and Funds
Registration and Breakfast
8:30 –
9:00
9:00 – 9:15
Welcome and Overview of the Program
Presented by Philip J. Morgan
Mr. Morgan is a partner in the London office. He concentrates his practice
on investment management and has wide experience in all aspects of law
and regulation in the UK financial services industry. You may reach him at
+44.(0)20.7360.8123 or philip.morgan@klgates.com.
9:15 –
10:15
Changing Landscape for Derivatives
Presented by Sean P. Donovan-Smith, Stephen H. Moller, Philip J. Morgan
and Anthony R.G. Nolan
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Update on Dodd-Frank and EMIR/MiFID
Swaps update
EU Central clearing and trade reporting: EMIR
Exchange trading obligations: MiFID Review
Futurization
Mr. Donovan-Smith is a partner in the London office. He is a financial
services lawyer with over 15 years’ experience in the financial services
industry, having acted for a range of clients including funds, managers,
advisers, and institutional investors. Mr. Donovan-Smith focuses
his practice in financial services and markets regulatory advice,
regulatory enforcement and investigations, advising on regulated and
unregulated funds, and the international marketing of funds and other
financial products. You may reach him at +44.(0)20.7360.8202 or sean.
donovan-smith@klgates.com.
Mr. Moller is a partner in the London office. He concentrates his practice
on structured finance and banking matters, including restructurings, hedge
fund-related and acquisition financings, securitizations, distressed debt
trading, and OTC derivatives. You may reach him at +44.(0)20.7360.8212
or stephen.moller@klgates.com.
Tuesday, 2 July 2013
8:30 – 17:30
K&L Gates
One New Change, London
Mr. Nolan is a partner in the New York office whose practice emphasizes
derivatives, securitizations and structured products. He represents fixedincome and alternative investment managers, financial institutions and
servicers in a range of transaction types. He advises financial institutions,
investment managers, hedge funds and other end-users with respect to
a broad range of derivatives transactions and regulation involving swaps
and security-based swaps as well as synthetic structured products. Mr.
Nolan has represented issuers and investors in the securitization of a
wide range of assets, including commercial and residential mortgages,
intellectual property, project finance loans, aircraft and equipment leases
and many types of consumer assets. Mr. Nolan’s experience includes
both registered offerings and exempt transactions. You may reach him
at +1.212.536.4843 or anthony.nolan@klgates.com.
10:15– 10:35
Break
10:35– 11:45
Addressing EU Restrictions on Remuneration
Presented by Sean P. Donovan-Smith and Philip J. Morgan
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Key points and implementation of CRD IV including remuneration restrictions
AIFMD Annex 2 and the ESMA Guidelines including application to Sub-Advisors
UCITS V proposals to restrict remuneration
Scope and structuring issues
Tuesday, 2 July 2013
8:30 – 17:30
K&L Gates
One New Change, London
11:45– 12:45
CONCURRENT SESSIONS (choose one)
Legal and Regulatory Update for Managers of US Registered Funds
or
Australian Institutional Investors: Superannuation Funds
CONCURRENT SESSION 1
11:45– 12:45
Legal and Regulatory Update for Managers of US Registered Funds
Presented by Clifford J. Alexander and Cary J. Meer
• SEC actions against “umbrella” mutual fund platforms: Northern Lights Funds case
• SEC actions on valuation: Morgan Keegan Funds case
• SEC meetings with independent directors
• Impact on sponsors and sub-advisers to US registered funds
o When CFTC registration as CPO or CTA becomes necessary
o Harmonization of CFTC and SEC disclosure rules for RICs
that are also registered commodity pools
• Suits against advisors who employ sub-advisors
• Money market funds reform
Mr. Alexander is a partner in the Washington, D.C. office who
concentrates his practice in banking, investment company,
broker-dealer and investment adviser law. You may reach him
at +1.202.778.9068 or clifford.alexander@klgates.com.
Ms. Meer is a partner in the Washington, D.C. office and a member of
the Investment Management practice group. She focuses her practice
on private investment companies, including hedge and private equity
funds, and Investment Advisers Act and Commodity Exchange Act
compliance matters. You may reach her at +1.202.778.9107 or
cary.meer@klgates.com.
Tuesday, 2 July 2013
8:30 – 17:30
K&L Gates
One New Change, London
CONCURRENT SESSION 2
11:45– 12:45
Australian Institutional Investors: Superannuation Funds
Presented by Jim Bulling
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Overview of new regulatory measures effective 1 July 2013
Increased due diligence of fund managers and advisers
Risk management and stress testing
Reporting, valuation issues and access to information
Portfolio holdings disclosure
Performance fees
Investment in infrastructure
Mr. Bulling is a partner in the Melbourne office who focuses his practice
on banking and financial services, acting for a range of entities in the
financial services and funds management industry. His clients include
Australian and international investment managers, banks, trustees of
superannuation funds, wholesale and retail investment trusts, funds
management companies and financial planning groups. His main areas
of focus include banking and financial product disclosure issues, financial
services compliance issues, financial product distribution issues and
superannuation and funds management. Mr. Bulling also provides
advice on governance issues targeted at prevention of bribery and
corruption and regularly prepares papers and presents on issues
relating to emerging banking and financial services issues.You may
reach him at +61.3.9640.4338 or jim.bulling@klgates.com.
12:45– 14:00
END OF CONCURRENT SESSIONS
Luncheon (Provided to All Attendees)
Tuesday, 2 July 2013
8:30 – 17:30
K&L Gates
One New Change, London
14:00– 14:45
CONCURRENT SESSIONS (choose one)
Opportunities in Asia
or
Marketing Funds and Investment Services in the Middle East
CONCURRENT SESSION 1
14:00– 14:45
Opportunities in Asia
Presented by Jim Bulling and Choo Lye Tan
• RMB products
• Onshore RMB products
• RQFII
• RQFII Funds & ETFs
• Offshore RMB products
• RMB “Dim Sum” bonds
• HK ETF RMB bond funds
• High-Yield bonds
• HK-PRC mutual recognition of funds – A HK-PRC fund passport
• REITs
• HK ETFs for domestic PRC investors
Choo Lye Tan is a partner in the Hong Kong office. She practices
in the areas of securities, corporate finance, restructuring, mergers
and acquisitions, funds and public and private equity issues. Ms. Tan
has practiced in Malaysia and Hong Kong, advising her clients on
general corporate issues in relation to the laws of Malaysia, Bermuda,
the British Virgin Islands, the Cayman Islands and Hong Kong. As a
result of her background in offshore and Asian laws, she frequently
advises on cross-border transactions, including the strategic structuring
and reorganization of groups of companies to best benefit from local
corporate legislation, particularly in the areas of asset protection,
fund-raising, securities offerings, employment, prospectus
registration and tax. You may reach her at +852.2230.3528 or
choolye.tan@klgates.com.
Tuesday, 2 July 2013
8:30 – 17:30
K&L Gates
One New Change, London
CONCURRENT SESSION 2
14:00– 14:45
Marketing Funds and Investment Services in the Middle East
Presented by Natalie R. Boyd
• A discussion of marketing restrictions and recent regulatory changes across the
Gulf Co-operation Countries, i.e., Bahrain, Kuwait, Oman, Qatar, Saudi Arabia
and United Arab Emirates
Ms. Boyd is a finance partner in the Dubai office, primarily focused
on structured products, debt capital markets, secured bank lending,
derivatives and Gulf Cooperation Council-wide regulation. Ms. Boyd has
over twenty years’ experience of advising leading US, European and
regional arrangers, investment managers, fund managers and trustees
on conventional and Islamic secured lending arrangements and structured
credit and debt capital markets products, many of which were high profile
in the credit markets. Ms. Boyd’s practice provides clients with English,
UAE and Dubai International Financial Centre law advice. You may reach
her at +971.4.427.2731 or natalie.boyd@klgates.com.
END OF CONCURRENT SESSIONS
14:45 –
16:10
Current Issues for Compliance Officers
Presented by Clifford J. Alexander, Robert Hadley, Cary J. Meer and Elizabeth Robertson
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Identification and valuation of illiquid securities
CPO and CTA registration for fund of funds managers
Forms PF, CPO-PQR and NFA-PQR
Broker-Dealer Issues
Status of JOBS Act
Protection of client information
Alternative investments issues
Inadvertent custody
Recent FCA and SEC enforcement actions
Ms. Robertson is a partner in the London office’s Corporate Crime team.
She regularly represents clients facing prosecution by the Serious Fraud
Office and the Financial Conduct Authority, dealing with ancillary matters
such as Mutual Legal Assistance and Extradition. She has particular
experience in the defence of multi jurisdictional white-collar-crime cases
involving allegations of fraud, corruption and money laundering, and
internal investigations. You may reach her at +44.(0)20.7360.8255 or
elizabeth.robertson@klgates.com.
Tuesday, 2 July 2013
8:30 – 17:30
K&L Gates
One New Change, London
Mr. Hadley is a partner in the London office in the Government
Enforcement and Commercial Litigation practice groups. He focuses on
regulatory enforcement and commercial litigation investigation matters.
He acts in Financial Conduct Authority (FCA) (previously Financial
Services Authority) enforcement matters and advises firms and individuals
on FCA regulatory issues. He is a leading partner in the London office
practice in counselling upon and investigations of bribery and corruption
issues including the implications of the UK Bribery Act 2010. He has
experience of litigation at all levels for clients in a variety of industries
including the financial services, life assurance and banking sectors, as
well as for individual clients. You may reach him at +44.(0)20.7360.8166
or robert.hadley@klgates.com.
16:10– 16:30
Break
16:30 –
17:30
EU Fund Developments: UCITS and AIFMD
Presented by Christian Büche, Sean P. Donovan-Smith and Philip J. Morgan
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Update on AIFMD developments and regulatory reporting
Marketing of funds in the EU with a focus on German implementation of AIFMD
Restricting UCITS strategies - ESMA Guidelines of December 2012
Proposed changes to the UCITS regime (UCITS V and UCITS VI)
Impact on money market funds and ETFs
Dr. Büche is a partner in the Frankfurt office and a member of the
banking and finance practice group. He advises clients in the areas
of finance, restructuring, insolvency and banking regulatory law. He
has international experience in a wide range of banking and financing
transactions, including acquisition financing, public take-over offers,
refinancings and real estate financing transactions as well as project
financing (acting both for lenders and borrowers). Dr. Büche also advises
investors in connection with the acquisition of loan portfolios, portfolios
of non-performing loans and junior financing. You may reach him at
+49(0)69.945.196.365 or christian.buche@klgates.com.
17:30 Reception