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Legal Issues in Cleared Derivatives

23 November 2016 9:00am to 5:30pm GMT
Etc Venues Monument // London

FIA is pleased to announce a new one-day legal event – “Legal issues in cleared derivatives - Europe” which will look at current legal issues and risks in cleared derivatives markets.

This London-based event will feature legal experts from the sell-side, the buy-side, law firms and CCPs, as well as regulators discussing the impact of MiFID II/R on cleared derivatives industry, legal aspects of client and clearing member default under the European clearing model and prudential requirements for clearing members and their clients.  It will also look at the regulatory impact on client clearing documentation and recent developments in this area.

This conference is aimed primarily at European regulatory and documentation lawyers at clearing firms, CCPs, buy-side market participants, risk and capital experts, regulators, law firms and other professional advisers. 

LOCATION

Etc Venues Monument // 8 Eastcheap // London, EC4M 1AE

 

REGISTRATION

Buy one get one free! Register today and bring a colleague for free! Contact Olivia Jones for any queries.

 

Rate

FIA Members£425 + vat (£510)
Non-Members£550 + vat (£660)

All registrations include continental breakfast on arrival and networking lunch.

 

 

PROGRAMME

8.30-9.00         Registration

9.00-9.15              Welcome remarks

Simon Puleston Jones, Head of Europe, FIA

9.15-9.45              Keynote 

Joanna Perkins, Chief Executive, Financial Markets Law Committee 

9.45-10.45            Panel 1: Regulators panel

How do European and national regulators see the regulatory landscape now that most of the rules in the derivatives clearing space have been written? How are regulators transitioning from rule-making to implementation and supervision? How do regulators view priorities and what does the landscape look like from a supervision perspective? Regulatory convergence across Europe and cross-border issues will also be discussed.

Panellists:
Patrice Aguesse, AMF
Ben Mitchell, Bank of England

Anne-Laure Condat, FCA

10.45-11.00         Coffee break &  networking

11.00-12.15         Panel 2: Impact of MiFID II/R on cleared derivatives industry - overview of relevant requirements and major changes

The aim of this panel is to look at MiFID II/R holistically through the eyes of a CCP, a clearing firm and its client. What requirements are they subject to and how will this change the clearing model that they operate today? Which requirements present the biggest challenge for CCPs, CMs and clients to implement? Is 3 January 2018 a realistic implementation deadline for all requirements that affect participants in derivatives clearing?

Panellists:
Damian Carolan, Allen & Overy
Sachin Dehra, Citi
Mark Woodward, ICE Clear Europe
Ricky Maloney, Old Mutual Global Investors

12.15-13.00         Prudential requirements for clearing members and clients focusing on EU and US capital regimes?

Regulatory capital regimes play a key risk mitigation role in banking and financial services industry. What capital requirements apply to CMs and their prudentially regulated clients in Europe with regard to derivatives clearing and how is the European principal-to-principal model treated under the US capital regime? 

Benedict James, Partner, Linklaters

13.00-14.00         Lunch

14.00-15.00         Panel 3: Legal aspects of client and clearing member default management under European clearing model

How does a CCP manage a CM default and what can CM creditors expect? How do segregation requirements under EMIR and national client money/asset regimes benefit clients in the event of a CM default? How does a CM manage a client default and how will this change under the upcoming indirect clearing rules? 

Panellists:
Sarah George Kotak, Bank of America Merrill Lynch 

Mark Bines, Deutsche Bank
Ric Wilding, Eurex
Thomas Donegan, Shearman & Sterling

15.00-15.20         Coffee break & networking

15.20-16.30         Panel 4: Regulatory impact on client clearing documentation and how do the EU and US ISDA/FIA Client Clearing Addenda differ?

Standardisation of client clearing documentation has gained a new momentum with the implementation of global post-crisis regulatory agenda in various jurisdictions. This panel will discuss the evolution of client clearing documentation and look at future developments, which are largely driven by regulatory change, not least at FIA’s Terms of Business Update project. Panellists will also highlight some differences between two client clearing addenda that carry a similar title but have been drafted with different regulatory frameworks in mind.    

Panellists:
Andre Allee, BlackRock
Jeremy Walter, Clifford Chance
Jennifer Williams, Goldman Sachs
Nathaniel Lalone, Katten Muchin Rosenmann
Somchart Sucharitkul, UBS

16.30-16.45         Closing remarks

Mitja Siraj, Vice President of Legal, Europe, FIA

 

SPONSORSHIP

FIA offers the opportunity to support these events as either Sponsor or Partner - providing you with the platform to increase your visibility within the clearing community. 

For further information, or to discuss sponsorship opportunities please contact: Bernadette Connolly T: +44(0)20 7090 1334

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