K&L GATES EIGHTH ANNUAL INVESTMENT MANAGEMENT CONFERENCE Global Legal and Regulatory Issues for Investment Managers and Funds

Transcription

1 K&L GATES EIGHTH ANNUAL INVESTMENT MANAGEMENT CONFERENCE Global Legal and Regulatory Issues for Investment Managers and Funds 8:30 9:00 Registration and Breakfast 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) 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 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) 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) or stephen.moller@klgates.com.

2 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 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 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

3 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 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 or cary.meer@klgates.com.

4 CONCURRENT SESSION 2 11:45 12:45 Australian Institutional Investors: Superannuation Funds Presented by Jim Bulling 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 or jim.bulling@klgates.com. END OF CONCURRENT SESSIONS 12:45 14:00 Luncheon (Provided to All Attendees)

5 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 or choolye.tan@klgates.com.

6 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 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 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) or elizabeth.robertson@klgates.com.

7 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 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) 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 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) or christian.buche@klgates.com. 17:30 Reception