1:30-2:45. Jude Scott, Chief Executive Officer Cayman Finance 2:45-3:45

Transcription

1 FUND FOCUS 2017 L I AB I L I T Y SECURITY CONFIDE N T IA L IT Y TE RM I N ATI O N DU TI E S RELATIONSHIPS DELEGATIO N RI SK O B L I G AT I O N S LOSS RES P O NSI BI LI TY CONFERENCE PROGRAMME // Kimpton Seafire Resort & Spa, Grand Cayman Friday, 10 November 2017

2 MORNING SESSION AFTERNOON SESSION 8:00-8:50 Registration 9:00-10:00 Initial Engagement How to determine the right structure, appropriate service providers, terms and outsourcing, and what red flags to avoid. William Jones, Managing Partner & Independent Director - ManagementPlus Group Ben Pershick, Managing Director - Maitland Financial Group Ltd. David Selden, Partner - Fried Frank Moderator: Robert Searle, Partner - Campbells 10:00-11:00 Working Together Fund service providers operating as a team. The appropriate division of responsibilities; necessary levels of engagement and supervision; addressing issues as they arise. Winston Connolly, Managing Partner - Lainston Monette Windsor, Managing Director - MUFG Alternative Fund Services Peter Small, Partner - PwC Moderator: Alan Craig, Partner - Campbells 11:00-11:15 Coffee Break 11:15-12:15 Fund Relationships: Rights and Obligations of Stakeholders and Service Providers The panel will consider the impact of the recent Grand Court judgment in Primeo v HSBC, with a focus on the guidance that the judgment provides for fund administrators and custodians, and lessons from the Madoff fraud. Joseph Belanger, Principal - The Brattle Group Bill Fleury, Principal - Danesmead Partners Thomas Moloney, Partner - Cleary Gottlieb Moderator: Andrew Pullinger, Partner - Campbells 12:15-1:30 Lunch 8:50-9:00 Chairman s Introduction 1:30-2:45 Smart FinTech Regulation Cayman s innovative approach to adapting the key elements of effective regulation to enhance new financial technology. Jude Scott, Chief Executive Officer Cayman Finance Keynote Speaker Blockchain technology in the private investment fund industry - how the industry will be impacted and how it will reduce the risk of fraud. Dr. Wulf A. Kaal, Professor, Technologist, Entrepreneur - University of St. Thomas School of Law 2:45-3:45 Data Protection, Privacy and Cyber Issues Is data and proprietary information protected? Review of relationships with service providers, third parties and outsourcing agreements. Ezra D. Church, Partner - Morgan Lewis Dr. Wulf A. Kaal, Professor, Technologist, Entrepreneur - University of St. Thomas School of Law Micho Schumann, Principal, Cyber Security - KPMG Moderator: Alistair Walters, Partner - Campbells 3:45-4:00 Coffee Break 4:00-5:00 Good Relationships Gone Bad A discussion of techniques to help directors and other funds professionals manage relationships with investors of a distressed fund and the risk factors, which inevitably arise in a distressed situation. What are the red flags? What practical steps can a director take to protect against personal liability? To what extent can directors rely on the limitations and exclusions of liability in their Services Agreement or the Articles of Association? Alaina Danley, Director - DMS Claire Loebell, Executive Director - Transaction Advisory Services - EY Ben Valentin QC, Barrister - Fountain Court Chambers Moderator: Mark Goodman, Partner - Campbells 5:00-7:00 Cocktail Reception

3 The funds industry relies and thrives on relationships. Those relationships need to be formed with care, documented so that there is clarity and trust as to roles and responsibilities and then managed in a constructive profitable way. This year s conference will examine the array of legal structures available to promoters and then look at the process of selecting service providers for funds, how their relationships should best be documented and what happens when those relationships are tested or fail. 21 speakers giving 21 unique perspectives on our 2017 conference theme. Joseph Belanger, The Brattle Group Ezra D. Church, Morgan Lewis Winston Connolly, Lainston Alan Craig, Campbells Alaina Danley, DMS Bill Fleury, Danesmead Partners Mark Goodman, Campbells William Jones, ManagementPlus Group Wulf Kaal, University of St. Thomas School of Law Claire Loebell, EY Thomas Moloney, Cleary Gottlieb Ben Pershick, Maitland Financial Group Ltd. Andrew Pullinger, Campbells Ben Valentin QC, Fountain Court Chambers Micho Schumann, KPMG Jude Scott, Cayman Finance Robert Searle, Campbells David Selden, Fried Frank Peter Small, PwC Alistair Walters, Campbells Monette Windsor, MUFG Alternative Fund Services

4 JOSEPH BELANGER EZRA D. CHURCH WINSTON CONNOLLY // The Brattle Group // Principal // Morgan Lewis // Lainston // Managing Partner Mr. Belanger is an expert in financial services having joined The Brattle Group from State Street Corporation, where he was part of the executive management team in Alternative Investment Solutions with responsibility for Cayman offshore and alternative fund administration services and State Street s commercial lending services worldwide. He holds an MBA from the Olin School of Business at Washington University, a B.A. in Economics from Ripon College and the Chartered Alternative Investment Analyst designation. Ezra regularly represents and counsels clients in privacy and cybersecurity matters. His work in this area includes representation of companies faced with class action litigation, government investigations, and he has advised hundreds of companies in connection with data breaches and compliance issues. He is a Certified Information Privacy Professional (CIPP/US) with the International Association of Privacy Professionals and regularly speaks and writes on these topics. Winston Connolly is the Managing Partner of Lainston International Management (Cayman) Ltd; he is a qualified, practising attorney with 22+ years experience within the Cayman Islands financial services sector. He specialises in hedge and private equity funds and advises on a broad-range of fund-related matters. He also serves as an independent non-executive director on hedge funds, private equity funds and management companies. Winston is called to the Roll of Solicitors in England and Wales (non-practising). 11:15-12:15 Fund Relationships: Rights and Obligations of Stakeholders and Service Providers 2:45-3:45 Data Protection, Privacy and Cyber Issues 10:00-11:00 Working Together

5 GE PA 2-3 ALAN CRAIG ALAINA DANLEY BILL FLEURY // Campbells, Head of Corporate // DMS // Director // Danesmead Partners // Principal Alan is a partner and is head of our Corporate Department where he specialises in the establishment of venture capital funds and related investment vehicles. His practice also includes advising on cross-border corporate finance and M&A transactions, and the structuring and licensing of insurance companies. Alaina Danley is an independent professional director and business leader at DMS Governance (DMS). She provides management oversight to a team of governance professionals and leads practice guidance on fund governance matters. Prior to DMS, Alaina was a Director of Operations and Finance at Bain Capital, a global alternative investment firm in Boston, Massachusetts. Previously, she was an Assurance Manager with PricewaterhouseCoopers in the Boston office Investment Management practice. She is a Certified Public Accountant. Bill has over 25 years of financial services experience, primarily in operations and administration of hedge and mutual funds. Bill now applies his experience and insight to investment funds by serving as an independent director, as well as acting as the Danesmead Chief Compliance Officer. Bill holds the Chartered Financial Analyst (CFA) designation, as well as Chartered Accountant (Canada), and graduated with a Bachelor of Commerce from University of Alberta. 10:00-11:00 Working Together 4:00-5:00 Good Relationships Gone Bad 11:15-12:15 Fund Relationships: Rights and Obligations of Stakeholders and Service Providers

6 MARK GOODMAN WILLIAM JONES WULF KAAL // Campbells // ManagementPlus Group // Managing Partner Independent Director // University of St. Thomas School of Law // Professor, Technologist, Entrepreneur Mark is a partner in our Litigation, Insolvency & Restructuring Group where he specialises in insolvency, restructuring and investment fund litigation. Mark advises and appears in the Cayman Islands Courts on behalf of provisional and official liquidators, creditors, shareholders, directors, managers and other professional service providers in relation to a broad range of pre and post liquidation disputes. He has acted in litigation involving widely varying commercial contexts and structures, but his practice principally involves distressed and failed investment funds. William co-founded ManagementPlus in He moved to Luxembourg in 2008, bringing with him a wealth of investment fund, and particularly hedge fund, experience. He is an expert in Cayman Islands and Luxembourg fund structures. Bill has 24 years experience in the mutual funds and hedge fund industry and has held senior positions within Commodities Corporation, Goldman Sachs Asset Management International and Bank of Bermuda/HSBC. Wulf Kaal is a leading expert on Blockchain Applications in a broad array of industries, including initial coin offerings and smart contracting, as well as private investment fund regulation and compliance. He worked for over 25 years in Private Investment Fund Regulation and published over 60 articles and several books. His scholarship constitutes over 90% of the empirical and theoretical scholarship on Blockchain Applications in corporate governance and private fund regulation. 4:00-5:00 Good Relationships Gone Bad 9:00-10:00 Initial Engagement 1:45-2:45 Keynote Speaker 2:45-3:45 Data Protection, Privacy and Cyber Issues

7 GE PA 4-5 CLAIRE LOEBELL THOMAS MOLONEY BEN PERSHICK // EY // Executive Director Transaction Advisory Services // Cleary Gottlieb // Maitland Financial Group Ltd. // Managing Director Claire has over 15 years of restructuring experience including liquidations, receiverships and administrations covering multiple jurisdictions. She has extensive knowledge of cross border insolvency issues. Her experience has a particular focus on Asset Management and she has advised investor groups, investment managers, directors and other stakeholders on the wind down of cross border fund structures in both contentious and non-contentious situations. She regularly acts as an Official and Voluntary Liquidator in Cayman. Thomas J. Moloney is Cleary Gottlieb s senior litigation partner. His practice focuses on complex commercial litigations and major restructuring disputes. Tom currently represents HSBC Bank in multibillion-dollar actions regarding Madoff Ponzi scheme and related bankruptcy, and has also taken the lead in defending a group of 700 defendants against claims brought by the Foreign Liquidators of Fairfield asserting $7 billion in BVI common law and statutory insolvency claims in a New York Chapter 15 case. Ben Pershick is the Managing Director of Maitland Financial Group Ltd ( MFG ), a Cayman Islands-based fund administrator that serves as the hedge fund administration and private equity fund administration arm for the global Maitland group. Ben has been with Maitland (and Admiral Administration prior to being acquired by Maitland) for 17 years. He is a graduate of Simon Fraser University in Vancouver, British Columbia and is a member of the Certified Public Accountants of Nova Scotia. 4:00-5:00 Good Relationships Gone Bad 11:15-12:15 Fund Relationships: Rights and Obligations of Stakeholders and Service Providers 9:00-10:00 Initial Engagement

8 ANDREW PULLINGER BEN VALENTIN QC MICHO SCHUMANN // Campbells // Fountain Court Chambers // Barrister // KPMG // Principal, Cyber Security Andrew is a partner in our Litigation, Insolvency & Restructuring Group and specialises in commercial litigation, international arbitration and dispute resolution. He has extensive experience acting for and advising clients in relation to complex and high value disputes, typically with a cross-border element. He has particular expertise advising clients in respect of investment fund and other financial services disputes (especially claims against administrators and custodians), professional negligence claims and a broad range of contractual disputes. Ben is a barrister practising from Fountain Court Chambers in London. In addition to his English commercial practice, he has appeared in a number of cases in the Cayman Islands and elsewhere offshore. Of particular relevance, Ben led the (ultimately) successful defence of the Weavering directors, culminating in the Court of Appeal s leading decision on the exculpation provision applicable to many Cayman directors. Details of Ben s practice may be found at www. fountaincourt.co.uk. Micho is a Principal at KPMG in the Cayman Islands responsible for the Cyber Security practice within the KPMG Islands Group. Micho is, amongst others, a Certified Information System Security Professional (CISSP), Certified Information Systems Auditor (CISA) and a Certified Cloud Security Professional (CCSP). He also holds a Masters degree (M.Sc) in Information Systems. Micho has numerous published articles on Cyber Security and is a frequent guest speaker for various industry groups. 11:15-12:15 Fund Relationships: Rights and Obligations of Stakeholders and Service Providers 4:00-5:00 Good Relationships Gone Bad 2:45-3:45 Data Protection, Privacy and Cyber Issues

9 GE PA 6-7 JUDE SCOTT ROBERT SEARLE DAVID SELDEN // Cayman Finance // Chief Executive Officer // Campbells // Fried Frank Jude is well respected locally and globally having spoken internationally on financial services topics and featured on a number of occasions in international media. He retired as an Audit Partner in 2008 after spending over 23 years with Ernst & Young. As the Global CEO of Maples and Calder, he took an active role in the strategic growth and development of the firm. He has served as the CEO of Cayman Finance since Robert is a partner in our Corporate Department. He specialises in advice on the establishment and restructure of all investment funds, having spent his entire legal career focusing on collective investment schemes in Cayman, England and Australia. Robert represents large financial institutions and investment managers. He was admitted as an attorney in the Cayman Islands in 2003 and became partner with Campbells in David works on a variety of investment management and securities law matters, with emphasis on private investment vehicles including hedge funds, private equity funds, real estate funds, hybrid funds and funds-of-funds. He advises major financial institutions, fund sponsors, institutional investors, investment advisors and commodity trading advisors on commercial, securities and compliance matters relating to the formation and offering of funds, management company structure, bespoke products, managed accounts and related matters. 1:30-1:45 Smart FinTech Regulation 9:00-10:00 Initial Engagement 9:00-10:00 Initial Engagement

10 PETER SMALL ALISTAIR WALTERS MONETTE WINDSOR // PwC // Campbells // MUFG Alternative Fund Services // Managing Director Peter Small is a Partner in the Asset Management group with PwC Cayman Islands. He has 20 years of professional experience in assurance and business services with PwC in the Cayman and Boston. He is a licensed CPA in the state of New York, and is the current President of the CIIPA. Peter also sits on the Executive Committee of the Cayman Chapter of AIMA. Alistair is a partner in our Litigation, Insolvency & Restructuring Group and has advised clients on complex financial services and business disputes and litigation for over 20 years. He also specializes in advising on cases involving insolvency and winding up issues. Alistair is a mediator and a member of the Cayman Islands Arbitrators and Mediators Association. As Managing Director of MUFG Alternativce Fund Services, Monette oversees 180+ professionals that provide fund administration and banking services to hedge funds, fund of funds and private equity vehicles. She has over 16 years industry experience and has written articles for various hedge fund publications and spoken at numerous industry conferences. Monette is on the organizing committees of Hedge Funds Care, 100 Women in Finance and the Cayman Islands Girls Football Organization. 10:00-11:00 Working Together 2:45-3:45 Data Protection, Privacy and Cyber Issues 10:00-11:00 Working Together

11 GE PA 8-9 Campbells has been established for over 45 years and advises on both Cayman Islands and British Virgin Islands law. Campbells provides comprehensive corporate and litigation services to clients worldwide from our offices in the Cayman Islands, British Virgin Islands and Hong Kong. We are regularly trusted to advise some of the most prominent names in finance, investment and insurance and are frequently involved in the largest and most complex transactions in both jurisdictions.

12 campbellslegal.com CAYMAN l BVI l HONG KONG