IOSCO/PIFS-Harvard Law School. Global Certificate Program for Regulators of Securities Markets
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1 IOSCO/PIFS-Harvard Law School Global Certificate Program for Regulators of Securities Markets June 18-29, 2018, Madrid, Spain (Phase I at IOSCO) December 2-7, 2018, Cambridge, MA, United States (Phase II at Harvard) Agenda Phase I In-Person Module on Regulation (June 18-22, 2018) Location: International Organization of (IOSCO) C/ Oquendo Madrid SPAIN Monday June 18 09:00 09:30 Registration 09:30 09:45 Welcome and Program Overview Mr Paul P. Andrews, Secretary General, International Organization of Mr John Gulliver, Deputy Director, Program on International Financial Systems, Harvard Law School 09:45 11:00 Role of the Regulator and the Current IOSCO Priorities Mr Paul P. Andrews, Secretary General, International Organization of 11:15 12:30 The IOSCO Principles and their Implementation Ms Raluca Tircoci-Craciun, Head of Growth and Emerging Markets, Implementation Monitoring and Technical Assistance, International Organization of 1
2 12:30 14:00 Lunch 14:00 15:30 Going Public and Resulting Ramifications 15:45 17:00 Creating an Ethical Culture in an Organization Mr S. Raman, Whole Time Member, Securities and Exchange Board of India (TBC) Mr Aute Kasdorp, Advisor, Supervision Strategy CFA Institute (TBC) Mr John Gulliver, Deputy Director, Program on International Financial Systems, Harvard Law School (moderator) 17:00 19:00 Welcome Cocktail / Networking Event Tuesday June 19 09:30 11:00 The Continuing Regulatory Obligations of Issuers 11:15 12:30 Steps in the Supervision Process 12:30 13:45 Lunch Mr Aute Kasdorp, Advisor, Supervision Strategy 13:45 14:45 Risk Identification and Limiting the Risk with Risk Based Supervision TBD 14:45 15:45 The Use of Informal Methods and Norms in Supervision 15:45 16:00 Break Mr Aute Kasdorp, Advisor, Supervision Strategy 16:00 17:00 The Use of Technology in Regulation, Surveillance, and Supervision The BSE Experience Mr Nehal Vora, Chief Regulatory Officer, BSE Ltd. 2
3 17:00 18:00 FinTech Developments, Cryptocurrencies, ICOs, and Related Regulatory Issues Mr Paul P. Andrews, Secretary General, International Organization of Mr Nehal Vora, Chief Regulatory Officer, BSE Ltd. Ms Nydia Remolina, Legal Advisor for Innovation, Digital Transformation and Strategic Affairs (Bancolombia), Lecturer in Banking Law and International Financial Regulation, Javeriana University, Colombia, and Research Associate, Ibero-American Institute for Law and Finance Mr Aute Kasdorp, Advisor, Supervision Strategy (moderator) Wednesday June 20 09:30 11:00 Broker Dealer Duties to Clients: Regulatory Responsibilities and the Regulatory Response Mr Frédéric Pérodeau, Superintendent, Client Services and Distribution Oversight, Autorité des marchés financiers, Québec (TBC) 11:15 12:45 Corporate Reporting and Disclosure Issues for Regulators 12:45 14:00 Lunch Mr Gonzalo Ramos, Secretary General, Public Interest Oversight Board Mr Jonathan Bravo, Head of Finance and IT, International Organization of Securities Commissions 14:00 15:30 Case Study on Dual-Class Shares of Listed Companies Alibaba Dr Aurelio Gurrea Martínez, Fellow, Program on Corporate Governance; Teaching Fellow, Program on International Financial Systems, Harvard Law School 15:45 17:15 Regulation of Financial Market Infrastructures Mr Tajinder Singh, Deputy Secretary General, International Organization of Securities Commissions Ms Patricia Sáenz de Maturana, Senior Policy Advisor, International Organization of Securities Commissions Mr Tim Pinkowski, Policy Advisor, International Organization of Mr Josafat De Luna, Policy Advisor, International Organization of 3
4 Thursday June 21 09:30 11:00 Case Study (Part 1, to be continued in Phase II at Harvard) 11:15 12:15 Current Issues Involving Regulation of Exchanges, Trading Platforms, and Dark Pools Mr Raúl Navarro, Senior Officer on Secondary Markets, Comisión Nacional del Mercado de Valores, Spain 12:15 13:15 Exchange Traded Funds and Exchange Traded Notes and the Economic, Policy and Legal Issues Involved 13:15 14:15 Lunch Mr Brian Johnson, Chief Economist for the Committee on Capital Markets Regulation and Research Fellow at the Harvard Law School Program on International Financial Systems 14:15 15:45 Current Issues Involving Regulation of Investment Funds and Asset Managers 15:45 16:00 Break Dr Shane Worner, Senior Economist, International Organization of Ms Adrienne Horel-Pages, Senior Officer, Asset Management Regulation Division, Autorité des marchés financiers, France 16:00 17:00 Regulators and Investor Education and Changing Investors Behaviours Mr Pasquale Munafò, Senior Advisor, Commissione Nazionale per le Società e la Borsa, Italy; Vice-Chair IOSCO s Committee on Retail Investors 17:00 18:00 Using Alternative Dispute Resolution as a Method for Handling Customer Disputes and Regulation 4
5 Friday June 22 09:30 11:00 Role of Regulation in Market Development Mr Tajinder Singh, Deputy Secretary General, International Organization of Securities Commissions Mr Abubakar Hassan, Manager Investigations and Enforcement, Capital Markets Authority, Kenya 11:15 12:30 International Regulatory Architecture and Cooperation 12:30 13:30 Assessment 13:30 15:00 Lunch Mr Sebastián Albella, Chairman, Comisión Nacional del Mercado de Valores, Spain (TBC) Mr Paul P. Andrews, Secretary General, International Organization of Mr William Coen, Secretary General, Basel Committee on Banking Supervision (TBC) Mr Morten Bech, Head of Secretariat, Committee on Payments and Market Infrastructures (CPMI) (TBC) Mr Jonathan Dixon, Secretary General, International Association of Insurance Supervisors (IAIS) (TBC) Mr Tajinder Singh, Deputy Secretary General, International Organization of Securities Commissions (moderator) 15:00 End of Phase I Module on Regulation 5
6 Agenda Phase I In-Person Module on Compliance (June 25-29, 2018) Location: International Organization of (IOSCO) C/ Oquendo Madrid SPAIN Monday June 25 09:00 09:30 Registration 09:30 09:45 Welcome and Program Overview Mr Paul P. Andrews, Secretary General, International Organization of 09:45 11:00 Elements of Offenses and Documents Needed to Prove those Offenses 11:15 12:30 Ensuring Compliance by Conducting Inspections/Investigations: Why, When, and How 12:30 14:00 Lunch Mr Jean Lorrain, Senior Director of International Affairs and Strategic Monitoring, Autorité des marchés financiers, Québec; Vice-Chair IOSCO s Assessment Committee 14:00 15:30 Compliance Officers and Their Responsibility and Potential Liability Mr Eric Moss, Senior Vice President, Deputy General Counsel and Chief Compliance Officer, BMO Financial Group Mr Jean Lorrain, Senior Director of International Affairs and Strategic Monitoring, Autorité des marchés financiers, Québec; Vice-Chair IOSCO s Assessment Committee 6
7 15:45 17:15 From Market Surveillance to Investigation: the Different Steps, Techniques and Tools Case Study Ms Christel Castaingt, Senior Investigator, Investigations Department, Autorité des marchés financiers, France Mr Laurent Piquepe, Senior Analyst, Market Surveillance Department, Autorité des marchés financiers, France 17:15 19:00 Welcome Cocktail / Networking Event Tuesday June 26 09:30 11:00 Market Manipulation Practical Exercise 11:15 12:30 Market Manipulation Practical Exercise TBD 12:30 14:00 Lunch 14:00 15:30 Role of Surveillance / How Regulators might use Internal Supervision conducted by Regulated Entities Mr Eric Moss, Senior Vice President, Deputy General Counsel and Chief Compliance Officer, BMO Financial Group 15:45 17:00 International Enforcement Cooperation, the IOSCO MMoU/EMMoU and Data Privacy Issues Ms Isabel Pastor, Head of Enforcement & Cooperation and Senior Advisor, Special Projects, International Organization of Wednesday June 27 09:30 11:00 Investigating and Prosecuting Insider Trading TBD 7
8 11:15 12:45 Insider Trading Practical Exercise 12:45 14:00 Lunch Mr Myles MacPherson, Senior Markets Specialist, Enforcement, Alberta Securities Commission 14:00 15:30 Insider Trading Practical Exercise Mr V.S. Sundaresan, Chief General Manager and Head of Department, Investigations, Securities and Exchange Board of India (TBC) 15:45 17:00 Special Challenges in Examining Complex Financial Products Structured Products Ms Karen Lau, Director of Investment Products, Securities and Futures Commission, Hong Kong Thursday June 28 09:30 11:00 Case Study Fraud and Ponzi Scheme Ms Karen K. Wuertz, Senior Vice President, Strategic Planning and Development, National Futures Association, United States of America; Chair IOSCO s Affiliate Members Consultative Committee 11:15 12:45 Case Study Fraud and Ponzi Scheme 12:45 14:00 Lunch Mr Yusuf Kaya, Executive Vice President, Capital Markets Board, Turkey 14:00 15:15 A Culture of Compliance 15:15 15:30 Break Mr James R. F. Shipton, Chairman, Australian Securities and Investments Commission (TBC) 15:30 17:00 Implementation of Risk Based Supervision for AML/CFT purposes in the Asset Management Industry Mr Guilhem Ros, AML/CFT On-site Inspection, Commission de Surveillance du Secteur Financier, Luxembourg 8
9 Friday June 29 09:30 10:45 Challenges in Investigating Investment Funds, Hedge Funds and Other Collective Investment Schemes 10:45 11:00 Break Mr Robert Taylor, Head of Asset Management Global Strategy, Financial Conduct Authority, United Kingdom; Chair IOSCO s Committee on Investment Management 11:00 12:00 Case Study and Practical Exercises Applying All Materials to Date 12:00 13:30 Assessment 13:30 15:00 Lunch 15:00 End of Phase II Module on Compliance 9
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