Day 1 - Tuesday, November 24, 2015

8:00
Registration, Refreshments and Networking
9:00
Chair’s Opening Remarks
9:15
Competition Enforcement and Litigation in the Financial Sector
10:30
Morning Refreshments
11:00
LIBOR Fixing Claims and the Implications of the Latest Cases Progressing through Courts
12:00
Rapid Response To Complex Issues in Global Banking and Financial Markets Investigations
12:30
Networking Lunch
1:30
Revisiting the Power of Contractual Estoppel in Mis-selling of Complex Financial instruments
2:30
Countering Imminent Cyber-security Threats for the Financial Services Industry
3:00
Afternoon Refreshments
4:00
PRACTICAL WORKING GROUP: Individual Accountability Regime: 10 Do’s and Don’ts to Satisfy the Regulators and Still Protect Your Firm And its Staff
5:30
Conference Adjourns

Day 2 - Wednesday, November 25, 2015

8:15
Registration, Refreshments and Networking
8:40
Chair’s Opening Remarks
10:00
Refreshments and Networking
10:30
Internal Protection Strategies: Cultural Change and Conduct Risk Management Performance
11:30
SME Interest Rate Hedging Products – FCA Review Scheme
12:30
Networking Luncheon
1:30
Foreign Exchange Markets – Implications of Manipulation and Mis-selling
2:30
Dealing with Multiple Regulators and Investigators in Multiple Jurisdictions
3:00
Refreshments and Networking
3:30
Minimising Derivatives Disputes; What can be Done and Lessons Learnt
4:00
Alternative Structures: How to Fund Claims against Financial Institutions
4:45
Chair’s Closing Remarks and End of Conference

De-risked Strategies for Recovering Losses from Defective and Inappropriate Financial Products

Nov 25, 2015 1:45pm -

Speakers

Hanif Virji
Partner
AHV Associates LLP

Neil Purslow
CIO
Therium Capital Management Limited

Day 1 - Tuesday, November 24, 2015

8:00
Registration, Refreshments and Networking
9:00
Chair’s Opening Remarks

John Bramhall
Partner, DAC Beachcroft
President London Solicitors’ Litigation Association

9:15
Competition Enforcement and Litigation in the Financial Sector

Moderator:

Carole Begent
Head of Legal
The Payments System Regulator

1. The new regulatory environment

Sharon Horwitz
Director, Sector Regulation Unit
Competition and Markets Authority

Mark Bethell
Manager, Competition Department
FCA

2. Perspective from Banks

Joshua Sherer
Senior Legal Counsel Head of Competition Law, Global Banking and Markets
HSBC

Manish Das
Head of Competition Law
Lloyds Banking Group

  • Concurrency and UK Competition Network
  • The FCA’s new competition powers and on-going market studies
  • The PSR’s role and work programme
  • Reacting to the new regulatory environment
  • Role of Private Enforcement
  • Consumer Rights Act

10:30
Morning Refreshments
11:00
LIBOR Fixing Claims and the Implications of the Latest Cases Progressing through Courts

Bruno Campana
Managing Director Economic and Financial Consulting
FTI Consulting

Edward Cumming
Barrister
XXIV Old Buildings

Stephen Elam
Senior Associate
Cooke, Young & Keidan

Moderator

John Bramhall
Partner, DAC Beachcroft
President London Solicitors’ Litigation Association

  • Crossover between investigations and civil claims
  • Property Alliance Group Ltd vs. The Royal Bank of Scotland PLC: the implications. Legal professional and without prejudice privilege in the context of regulatory investigations
  • Disclosure of communications with the regulators: Fair game for civil claims?
  • Disclosure of communications with the regulators: fair game for civil claims?
  • Losses allegedly arising out of LIBOR fixing – Graiseley Properties and the rescission argument: the present state of LIBOR litigation in the UK
  • How the most recent LIBOR cases are being presented and investigated
  • Benchmark criminal prosecution. Actions against individuals: criminal charges and civil fines

12:00
Rapid Response To Complex Issues in Global Banking and Financial Markets Investigations

Gary Lambert
Senior Consultant
NERA Economic Consulting

12:30
Networking Lunch
1:30
Revisiting the Power of Contractual Estoppel in Mis-selling of Complex Financial instruments

Richard Coleman QC

Fountain Court Chambers

  • The banks’ duty of care in giving advice, how is this applied?
  • Application of the principle of contractual estoppel: implications of two recent significant cases:
    • Crestsign Limited vs. NatWest and RBS
    • Creditsuisse International vs. Stichting Vestia
  • Developing the concept of “mezzanine” duty between the duty to advise and the duty not to misstate: will this open a new route for establishing actionable misinterpretations for counterparties?
  • Challenges with establishing actionable misrepresentations by claimants
  • What should banks be doing to incorporate the latest arguments into their litigation defence strategies?

2:30
Countering Imminent Cyber-security Threats for the Financial Services Industry

Phil Huggins
Vice President of Security Science
Stroz Friedberg

  • Responding to the increasing importance of cyber security inspections from the regulators
  • Practical recommendations for keeping up with increased cyber security risks
  • Reducing potential exposure to litigation and minimising the value of potential claims resulting from cyber-security breaches
  • Developing a robust and well-run cyber-incident response plan

3:00
Afternoon Refreshments
4:00
PRACTICAL WORKING GROUP: Individual Accountability Regime: 10 Do’s and Don’ts to Satisfy the Regulators and Still Protect Your Firm And its Staff

Simon Morris
Partner
CMS Cameron McKenna

The new regime for individual responsibility at banks and major broker dealers creates new responsibilities and significant new areas of regulatory and litigation risk. The Working Group will cover the following hugely topical areas:

  • The overall architecture and likely impact of the new regime
  • Best practice for firms in establishing new systems and controls
  • Senior managers – how they will be affected
  • Documenting responsibilities – what to state and what to avoid
  • Reversal of burden of proof – practical steps to safeguard against the new risks
  • Certified and conduct staff – the duties, the oversight and the training
  • The impact on employment rights – what it is and how best to manage
  • Some golden rules – 10 do’s and don’ts to satisfy the regulators and still protect your firm and its staff

5:30
Conference Adjourns

Day 2 - Wednesday, November 25, 2015

8:15
Registration, Refreshments and Networking
8:40
Chair’s Opening Remarks

Robin Henry
Partner, Banking and Financial Disputes Group
Collyer Bristow LLP

10:00
Refreshments and Networking
10:30
Internal Protection Strategies: Cultural Change and Conduct Risk Management Performance

David Marshall
Head of Compliance
NIBC N.V. London Branch

Stephanie Manson
Chief Underwriting Officer
AIG

Richard Ferris
Chief Counsel
Aon Risk EMEA

Haydn Main
Head of Legal
Renaissance Capital

Moderator

Craig Earnshaw
Senior Managing Director
FTI Consulting

  • How to prevent a corporate culture being dominated by “a few bad apples”: measures to make traders become the first line of defence against possible breaches in regulatory compliance
  • Formulating a response strategy: reporting on suspected irregularities and cooperating with the authorities
  • Mitigating legal and compliance risks at a strategic and operational level with the view to preventing similar misdealing in the future
  • What provisions should FIs be making for litigation and contingent liabilities? Factoring how legal fees are being structured into law firm selection and evaluation
  • Legal project management of financial and banking disputes and investigations: tools for optimising costs and increasing efficiency
  • How to successfully transform business process to take control of repetitive production of documents. Handling large volumes of information and data
  • What skills and expertise do in-house counsel and private practice lawyers need to have to navigate through the eDiscovery and case review stages?

11:30
SME Interest Rate Hedging Products – FCA Review Scheme

Abhishek Sachdev
Derivatives Expert
Vedanta Hedging Ltd

Jeremy Roe
Chairman
Bully Banks

  • The mis-selling of interest-rate hedging products: the mis-sale and the failures in the FCA Redress Scheme. Lessons to be learnt.
  • Legal challenges to decisions in the Redress Scheme – 
Judicial Review proceedings against the Skilled Persons (first stage permission decision in Holmcroft Properties vs. KPMG and Barclays) and the potential liability of banks and the banks’ advisors arising from their conduct of the Redress Scheme (Suremime vs. Barclays)
  • Consequential losses 
- foreseeability and causation within the Redress Scheme
  • An update on the latest derivative cases being brought against financial institutions in the UK by UK Corporates: trends, key factors in the cases, types of transactions
  • LIBOR Manipulation, ISDAfix and FX Manipulation – the effect on litigation

12:30
Networking Luncheon
1:30
Foreign Exchange Markets – Implications of Manipulation and Mis-selling

Ambasuthan Jananayagam
Director
Acumen Dispute Resolution

Katharine Harle
Senior Associate
Dentons

Moderator

Robin Henry
Partner, Banking and Financial Disputes Group
Collyer Bristow LLP

  • Recent settlements on benchmarking in FX
  • Criminal antitrust violations in connection with a global currency manipulation scheme
  • Who decides the size of fines? Where do the fines go? How is the allocation being done between multiple regulatory bodies in various jurisdictions?
  • What civil litigation relating to Forex are we likely to see?
  • Toughening the regulation around rigging the benchmarks without impairing their usefulness
  • Forex mis-selling – have lessons about conduct been learnt?

2:30
Dealing with Multiple Regulators and Investigators in Multiple Jurisdictions

Speaker TBC

  • Multiple jurisdictions and multiple timetables: where are your potential claimants and what claims are they likely to be brought against your organisation? What do different regulators require in respect of statements of historic conduct?
  • Public statements to a national regulator in one jurisdiction: What claims could be arising in another jurisdiction?
  • Responding to the increasing level of cooperation between national enforcement agencies, regulatory watchdogs and prosecutors from different countries
  • Assessing the cumulative impact of multiple regulatory changes on your balance sheet; the supporting business and operating models
  • The importance of integrating stress testing methods into board-room level decision making
  • Implementing large scale change programmes to create synergies between regulatory compliance, risk and finance functions to respond more effectively to the global and national regulatory change
  • Information sharing and difference in privilege rules across jurisdictions

3:00
Refreshments and Networking
3:30
Minimising Derivatives Disputes; What can be Done and Lessons Learnt

JP Aggrawal
Managing Director
Derivatives Value Advisors Limited

4:00
Alternative Structures: How to Fund Claims against Financial Institutions

James Blick
Director
The Judge

Neil Purslow
CIO
Therium Capital Management Limited

  • Funded claims: how big is the market, how much is it expected to grow and who are the key providers?
  • Factors driving litigation finance or alternative fee arrangements
  • The rise of group litigation in the UK
  • Is there a need for regulation of the third party litigation funding area?

4:45
Chair’s Closing Remarks and End of Conference