The Third Annual Global Financial Services Centres Conference
Opportunities for financial services centres in the recovery
Tuesday April 27th and Wednesday April 28th 2010, Dublin Castle, Ireland
The Third Annual Global Financial Services Centres Conference will facilitate dialogue between large (G20) and smaller financial centres and industry players and highlight the opportunitiies for financial services centres in the global finance recovery.
In the context of the G20 initiatives in 2010 to implement the most fundamental reforms of financial regulation and fiscal governance of centres in a generation, the conference is being held at a critical moment for dialogue between centres large and small. The event will bring representatives of centres of all kinds together in a forum of regulators, policy makers, centre promotion agencies, and industry leaders. It will contribute critical ideas in developing a new paradigm post crisis, and provide insights into the risks and opportunities for financial centres, banks, insurance companies, exchanges and asset managers.
Speakers announced to date include:
* Paul S. Atkins, Member TARP Oversight Panel, US Congress, & Former Commissioner SEC, Securities and Exchange Commission
* Peter Wallison, Member, US Congress Financial Crisis Inquiry Commission, appointed 2009,
* Matthew Elderfield, Head of Financial Supervision, Central Bank of Ireland
* Rod Roman, The head of Ernst & Young's EMEIA banking tax team
* John Cullinane. Partner, UK Tax Quality & Risk/Financial Services Tax,. Deloitte, former President of the Chartered Institute of Taxation (UK)
* Daniel Mitchell, Senior Fellow, The CATO Institute
* Angela Maddaloni, Senior Economist, European Central Bank
* Allan Bell, Treasury Minister, Isle of Man Government
* John Ingamells, Director, TheCityUK
* Daniel Gallagher, Co Director, US Securities & Exchange Commission, Division of Trading & Markets, and (from February 2010) WilmerHale law firm
* Janet Ecker, Former Ontario Minister for Finance, and head of the Toronto Financial Services Alliance
* Michael Mainelli, Publisher of the annually updated GFCI Index of global financial centres, Chairman, Z/Yen
* Deirdre Somers, Chief Executive Officer, Irish Stock Exchange
* Srishank Srivastava, Acting CEO and Chief Strategic Development Officer, Qatar Financial Centre Authority
* Matthew Brodrick, Financial Services Partner, Government, Ernst & Young
* Professor Kevin Dowd, Professor of Financial Risk Management, Nottingham University Business School
* Joydeep Sengupta, Co-Head, Asia Pacific Financial Services Practice, McKinsey & Company
* Julie Patterson, Director, Authorised Funds & Tax, Investment Management Association, UK
* Richard Hay, Tax Principal, Stikeman Elliott
* Hubertus Vath, Executive Director, Frankfurt Main Finance.
* Edouard de Lencquesaing, Special Advisor, Paris Europlace
* Enrique Prados del Amo, President, Asociacion de Mercados Financieros, Madrid, Spain
* Marcus Killick, Chief Executive Officer, Financial Services Commission, Gibraltar
* Kenneth Farrugia, Chairman, Malta Finance
Eight Great Sessions
An unprecedented agenda of practical solutions for financial centres and companies located there to:
(a) manage the risks (b) understand the dynamics, and (c) make lasting changes to the financial centres of the world
Day 1: April 27th 2010
Session 1: The Fix for Global Finance,
Topics include: The agenda of the G20 in 2010 and how it will affect all financial centres. New perspectives on the origins of the financial crisis, and its solution. The 'Volcker rule' and its prospects for implementation. Special taxes on financial services. AIFM Directive; Deregulation; New global financial institutions (such as the FSB) and Europe's new supervisory structure.
Session 2: The Fix for Global Finance: The response from Industry & Financial Centres, Small and Large
Topics include: Special focus on the funds, banking and insurance sectors response to the 'fix.' Dangers of blanket fixes, e.g. in insurance, and the implications for individual financial centers. The opportunities for smaller financial centres from mistakes in the application of G20 regulation.
LUNCH Sponsored by ERNST & YOUNG
Session 3: Tax, Fiscal Adjustment & Financial Services Centres
Topics include: Including the TIEAS and the OECD agenda; CCCTB in Europe; the UK's impaired competitiveness - the non-doms issue and hedge fund 'exodus'; the competitive advantage of corporation tax; the future for 'tax havens'
Session 4: Regulatory Risk Management Structures & Their Impact on Financial Centre Brands
Topics include: How centres can promote a quality business environment; New products & investor confidence
COCKTAIL RECEPTION (Sponsored by Ontario Government & Toronto Financial Services Alliance)
Day 2: April 28th 2010
Session 5: The opportunities & risks in rising and emerging centres
Topics include: Yardsticks of financial centres success. Asian Centres. Australia. Middle East- Qatar, Bahrain, profiled. Labuan. Islamic finance and financial centres. Canada and rising centres in Europe and elsewhere.
Session 6: Developments in The European Union – The World's Largest Financial Centre
Topics include: UCITS IV; The benefits a strong financial centre in London has for the EU financial services industry; the EU's new regulatory structures, European protectionism; Solvency II; securitisation and 'the skin', redefining the 'originate and distribute model'; non EU fund and insurance centres the opportunities and threat deriving from new EU regulations and the need for 'equivalence'; The ECB's 'quantitative easing' policy, and its approach to 'moral hazard'
Session 7: Risk Management for Financial Centres
Topics include: Strengthening dialogue between regulators. EU: strengthening the communication network between regulators. Risk management systems. Fiscal risk - UK Offshore Dependencies and Crown Dominions. The importance of quality regulation in financial centre branding. 'Madoff' effects.
Session 8: Exchanges – A Global Network of Financial Centres
Topics include: How will major regulatory changes by the US and EU impact on exchanges and financial centres?; The implications for the OTC business of investment banks; How can smaller centres compete; How can exchanges compete for business in bear markets; The risks for small-cap markets; Where are the new product opportunities?; Commodities, Funds, Insurance, Equities.
Special focuses at the conference:
Special Focus: How to Resolve Failed or Failing Institutions that are operating globally (Lehmans, London & New York)
The conference is designed specifically for industry leaders developing strategies to take advantage of the recovery from the financial crisis, now under way. It will focus on the new products and the new opportunities for business arising from the crisis, and how, and what centres and strategies are most likely to gain new business, in the areas of funds, banking, insurance and exchanges. It is also for all of those interested in shaping the responses of individual financial centres to the post crisis world, to protect their businesses, and obtain maximum leverage as the new financial world emerges.
The Third Annual Global Financial Services Centres Conference in late April 2010 will bring together leaders of the most dynamic financial centres in the three hemispheres to discuss how the changes in world regulation and tax administration will be at the front of forging the most successful financial centres in the new era of post credit crisis finance.
Chinese and other Asian centres continue to rise, while other centres, including those developing new Sharia financial centre products add to the wave of innovation outside of the historically dominant centes of the North Atlantic and Europe.
Issues in the US, which grapples with the challenges of developing a new financial services order to build on the fallout from the credit crisis will set the scene in establishing a new world framework hopefully, while Europe attempts, in tandem, to achieve a framework that does not smother innovation, nor make the EU uncompetitive as a platform.
For information regarding any aspect of participation, please contact us by clicking here and indicating the conference areas you are interested in.