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39th meeting of the European Financial Markets Lawyers Group

Quadrilateral Joint Meeting of the EFMLG / FLB / FMLC / FMLG

Thursday, 26 May 2011

Venue: Federal Reserve Bank of New York, 101 Market Street, San Francisco, CA 94105

 

 
8:30 a.m. – 9:00 a.m.

Arrival, Security Clearance and Continental Breakfast - Agenda (105 kb, pdf.)

 
9:00 a.m. – 9:15 a.m.

Welcome

 

Joyce Hansen, Deputy General Counsel, Federal Reserve Bank of New York


9:15 a.m. – 11:00 a.m.

Regulatory Roundup

  "Current regulatory initiatives will be well matched for the next wave of product innovations and will reign in tendencies toward economic bubbles."
Moderator: Antonio Sáinz de Vicuña
 

Implications of the Breakup of the Financial Services Authority - presentation (22 kb, pdf.)

Barney Reynolds – FMLC
 

CFTC Business Conduct Rules: Relationship Monitoring and Relationship Documentation Requirements - presentation (133 kb, pdf.)

Darek DeFreece and Gary Sims – FMLG
 

Regulations on Innovative Financial Products and Issues Related to the Earthquake - presentation (588 kb, pdf.)
The Future of Structured Products and OTC Derivatives - presentation (178 kb, pdf.)

Masaru Ono – FLB
Mark Steffensen – FMLG

  Extraterritoriality of the Dodd-Frank Act - presentation (21 kb, pdf.) Lisa Shemie – FMLG
11:00 a.m. – 11:15 a.m.
Coffee Break

 

11:15 a.m. – 12:45 p.m.

The New Clearing and Execution Regime

 

“The OTC derivatives market is dead.”

Moderator: Joyce Hansen

 

Clearing and Execution Requirements: Product Migrations and the Futures Commission Merchant in the United States - presentation (440 kb, pdf.) presentation (107 kb, pdf.);
Central Counterparties in Japan - presentation (81 kb, pdf.)

Ricardo Salaman – FMLG
Pamela Hutson – FMLG
Akihiro Wani – FLB
 

Documentation: Master Netting Agreements, the Future of the ISDA Master Agreement, and Clearing Documentation and Processes - presentation (161 kb, pdf.)

Chris Allen – FMLC
  Extraterritoriality and International Harmonization - presentation (138 kb, pdf.)

Natalia Butragueño – EFMLG

  Electronic Trading Platforms and Enforceability - presentation (86 kb, pdf.) Robert Spielman – FMLG
     
12:45 p.m. – 1:45 p.m. Lunch  
 
1:45 p.m. – 3:00 p.m.

Sovereign Debt

 

“Our legal systems are prepared for a sovereign debt crisis.”

Moderator: Toru Ishiguro
 

The European Financial Stability Facility and the European Stabilization Mechanism - presentation (115 kb, pdf.)

Iñigo Arruga Oleaga – EFMLG

  Collective Action Clauses and Preferred Creditor Status - presentation (105 kb, pdf.), presentation (98 kb, pdf.)

Habib Motani – FMLC
Niall Lenihan – EFMLG

  State and Municipal Budget Crises in the United States Andrew Lueder – FMLG
  Japan 's Sovereign Rating and the Legal Framework for Credit Ratings - presentation (80 kb, pdf.); presentation (158 kb, pdf.) Keiko Harimoto - FLB
Kenji Sakuta – FLB
   
3:00 p.m. – 3:15 p.m. Coffee Break
   
3:15 p.m. – 4:45 p.m.

Cross-Border Insolvency and Enhanced Supervisory Tools for Crisis management

  “The insolvency of a large, interconnected financial institution will be orderly.” Moderator: Joanna Perkins
 

Lehman - presentation (76 kb, pdf.), presentation (63 kb, pdf.)

Kunihiko Morishita – FLB
Locke McMurray – FMLG

 

Resolution Authority in the United States under the Dodd-Frank Act - presentation (51 kb, pdf.)
Special Resolution Regime and Special Administration Regime for Investment Banks in the United Kingdom - presentation (213 kb, pdf)
Proposed European Union Framework for Bank Recovery and Resolution - presentation (159 kb, pdf.)

Andrew Alter – FMLG
Simon Gleeson – FMLC
Joshua Kaplan – EFMLG
 

EU Close-Out Netting Initiatives - presentation (104 kb, pdf.)
Netting Directive Discussion Paper 1st Meeting (187 kb, pdf.)
Netting Directive Discussion Paper 2nd Meeting (87 kb, pdf.)

Holger Hartenfels – EFMLG
     
4:45 p.m. – 5:00 p.m.

Closing Remarks

 
 

Joyce Hansen, Deputy General Counsel, Federal Reserve Bank of New York

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