HomeP.R.I.M.E. Finance Annual Conference 2019

P.R.I.M.E. Finance Annual Conference 2019

On 4 and 5 February 2019, P.R.I.M.E. Finance will hold its 8th Annual Conference at the Peace Palace in the Hague

The Annual Conference

For the eighth year in a row, our annual gathering will bring together the most distinguished practitioners, academics, judges, regulators and experts who influence the day-to-day workings of the international financial markets. The Annual Conference represents an unique opportunity to gain insight and to discuss the most recent case law and relevant topical issues regarding complex financial products and dispute resolution.

Programme

Monday 4 February 2019

Registration and continental breakfast

09:00 – 09:30

Opening Proceedings

Welcome by H.E. The Hon. Sir David Baragwanath KNZM, Chairman, P.R.I.M.E. Finance Advisory Board; Appellate Judge, former President and Presiding Judge, Special Tribunal for Lebanon; Honorary Professor, University of Waikato (New Zealand); Visiting Professor, University of Northumbria (UK); Overseas Bencher, Inner Temple; Door Tenant, 3 Hare Court; former Judge, Court of Appeal of New Zealand; former President, New Zealand Law Commission; former Member for New Zealand, the Permanent Court of Arbitration

Opening of the conference by Saskia Bruines, Deputy Mayor of The Hague

09:30 – 10:00

P.R.I.M.E. Finance and the Permanent Court of Arbitration

Hugo Hans Siblesz, Secretary-General, Permanent Court of Arbitration

Professor Jeffrey Golden, Chairman, P.R.I.M.E. Finance Management Board; Governor and Honorary Fellow, London School of Economics and Political Science (LSE); Joint Head of Chambers, 3 Hare Court

10:00 – 10:15

Group picture

10:15 – 10:30

Coffee break

10:30 – 12:00

EU – 1: Brexit’s Implications for Financial Markets

Come 11 PM UK time, Friday, 29 March 2019, the European Union will have one fewer member, the United Kingdom…maybe. Since the historic referendum in summer 2016, as politicians have jockeyed over the terms of Brexit, market participants have tried their best to anticipate its effects on financial contracts, courts and markets generally. Will the day after be business as usual, or will it be something far less certain? With the clock ticking, this panel will consider Brexit’s many legal implications for financial markets.

Keynote address:

Philip Wood CBE, QC (hon), former Head, Global Law Intelligence Unit, Special Global Counsel, Allen & Overy LLP; Visiting Professor, International Financial Law, University of Oxford; Yorke Distinguished Visiting Fellow, University of Cambridge; Visiting Professor, Queen Mary College, University of London; P.R.I.M.E. Finance Expert

Session Chair:

Robin Dicker QC, Barrister, South Square Chambers; P.R.I.M.E. Finance Expert

Speakers:

  • Pedro Cardigos, Partner, CARDIGOS; Portugal Counsel, International Swaps and Derivatives Association (ISDA); P.R.I.M.E. Finance Expert
  • Carolyn Jackson, Partner, Katten Muchin Rosenman UK LLP; former Executive Director and Board Member, ISDA; P.R.I.M.E. Finance Expert
  • Habib Motani, Partner, Clifford Chance LLP; P.R.I.M.E. Finance Expert

12:00 – 13:00

Lunch break

13:00 – 14:30

Benchmark No More: The Case of the Disappearing IBOR’s

Benchmarks such as LIBOR and other IBORs were, like any standard, once considered immutable. Yet we stand three years from their likely disappearance, the effects of which will be sweeping. Confidence in new benchmarks must be earned and contracts must be reinterpreted or modified. At the same time market participants must agree how to modify the economics of their trades to reflect the shift to a new standard. Regulators, trade associations and market participants are committed to facilitating this transition, but exactly how will this be achieved? This panel will consider the many issues involved.

Session Chair:

Rick Grove, P.R.I.M.E. Finance Management Board; Chief Executive Officer and Partner, Rutter Associates LLC (New York); former Fixed Income and Commodity Derivatives Executive, Bank of America and Paribas Capital Markets; former Chief Executive Officer, ISDA

Speakers:

  • René Bösch, Partner, Homburger AG; P.R.I.M.E. Finance Expert
  • George Handjinicolaou, Chairman of the Board, Piraeus Bank; former Deputy CEO, ISDA; P.R.I.M.E. Finance Expert
  • Joanna Perkins, Chief Executive, Financial Markets Law Committee (FMLC); Barrister, South Square Chambers; P.R.I.M.E. Finance Expert
  • Professor Akihiro Wani, Senior Counsellor, Ito and Mitomi (Registered Associated Offices of Morrison and Foerster LLP); Professor, Sophia University Law School; Japan Counsel, ISDA; P.R.I.M.E. Finance Expert

14:30 – 16:00

Post-Post-Crisis: New Trends in Financial Litigation

Most of the litigation relating to the Lehman bankruptcy has been resolved. Misselling cases, which sprang from the unanticipated low rates in the aftermath of the financial crisis, are largely settled. But financial litigation continues, with a focus on a new set of legal issues, such as hedging and index transactions and public counterparty credit risk, and procedural issues, such as forum selection and use of experts. This panel of experts will provide an overview of these new developments.

Session Chair:

Antoine Maffei, Founding Partner, De Pardieu Brocas Maffei A.A.R.P.I.; P.R.I.M.E. Finance Expert

Speakers:

  • G. Massimiliano Danusso, Partner, BonelliErede; P.R.I.M.E. Finance Expert
  • Jeremy Goldring QC, Barrister, South Square Chambers; P.R.I.M.E. Finance Expert
  • Chudozie Okongwu, Managing Director and Head of the European Finance, Litigation, and Dispute Resolution Group, NERA Consulting; P.R.I.M.E. Finance Expert
  • Jay Tambe, Partner, Jones Day; P.R.I.M.E. Finance Expert

16:00 – 16:15

Coffee break

16:15 – 17:45

New Courts on the Rise: Commercial Courts Across the World

P.R.I.M.E. Finance has long maintained that financial disputes can benefit from specialized adjudication and views this as a positive development. Since P.R.I.M.E. Finance opened its doors in 2012, a number of jurisdictions in Europe and beyond have developed specialized commercial courts. This panel will examine the changes in the legal landscape that have encouraged certain countries to develop commercial courts and the impact that these courts will have on the financial litigation landscape in Europe and elsewhere. The panel will also address the positive impact that specialized jurists, experts and rules can bring to the administration of justice and highlight opportunities for collaboration with P.R.I.M.E. Finance.

Session Chair:

Professor Sir William Blair, P.R.I.M.E. Finance Advisory Board; President of the Board of Appeal of the European Supervisory Authorities; Professor of Financial Law and Ethics, Queen Mary University of London; former High Court (Judge in Charge of the Commercial Court) and Financial List Judge for England and Wales, Queen’s Bench Division

Speakers:

  • Sir Robert Hildyard, High Court and Financial List Judge in England and Wales, Chancery Division
  • Ali Malek QC, 3 Verulam Buildings; P.R.I.M.E. Finance Expert Nominee
  • Judge Jean Messinesi, President, Paris Commercial Court
  • Judge Duco OranjePresident, Netherlands Commercial Court of Appeal
  • The Hon. Judge Elizabeth S. Stong, P.R.I.M.E. Finance Management Board; Judge, United States Bankruptcy Court, the Eastern District of New York
  • Judge Ulrike Willoughby, Presiding Judge, Frankfurt am Main Regional Court

Tuesday 5 February 2019

09:00 – 09:15

A PRIME Update

Professor Dr. Bastiaan Assink, Secretary General, P.R.I.M.E. Finance; Partner, NautaDutilh N.V.

Camilla Perera - De Wit, Head of Secretariat P.R.I.M.E. Finance; Legal Counsel, Permanent Court of Arbitration

09:15 – 10:45

Along the Road: Interim Measures in Financial Arbitration

A satisfactory arbitral award is every counsel’s goal for their client, but to achieve that goal careful consideration must be given to many interim steps along the way. Evidence must be preserved, assets must be protected, and in some cases injunctions must be sought against adverse actions. This panel of arbitrators and counsel will focus on how modern arbitration jurisprudence is evolving to allow for these provisional measures in both contract-based and treaty-based arbitration of financial disputes.

Session Chair:

Deborah Enix-Ross, P.R.I.M.E. Finance Management Board; Senior Advisor to the International Dispute Resolution Group and member of the Diversity Committee, Debevoise & Plimpton LLP; former Chair, American Bar Association House of Delegates; former Senior Legal Officer and Head of the External Relations and Information Section, World Intellectual Property Organization Arbitration and Mediation Center

Speakers:

  • Professor Dr. Georges Affaki, Professor of International Banking Law and Dispute Resolution, University of Paris II; Independent Arbitrator and Avocat à la Cour, Paris; Chairman, ICC Banking Commission Legal Committee; P.R.I.M.E. Finance Expert
  • Dr. Markus Burianski, Partner, White & Case LLP; P.R.I.M.E. Finance Expert
  • Judith Gill QC, 20 Essex Street; President, London Court of International Arbitration, P.R.I.M.E. Finance Expert
  • Professor Loukas Mistelis, Clive M. Schmitthoff Professor of Transnational Commercial Law and Arbitration, Queen Mary University of London; P.R.I.M.E. Finance Expert

10:45 – 11:15

Coffee break

11:15 – 12:30

International Financial Regulation: Harmony or Cacophony?

Financial regulators from around the world pursued a common set of reforms after the 2008 global financial crisis. Now, more than 10 years on from the peak of the crisis, is it mission accomplished or mission impossible? Nationalist, divisive politics in Europe and the U.S. raise the prospect of a new era of international divergence and regulatory rollbacks. New risks to financial stability keep regulators up at night, while money laundering scandals create new tremors of confidence in financial institutions. This panel will discuss the current state of efforts to achieve international regulatory consistency.

Session Chair:

Joanne Kellermann, P.R.I.M.E. Finance Management Board; Founding Member and former Director, the Single Resolution Board (SRB); former Executive Board Member, the Central Bank of The Netherlands (DNB); former Partner, NautaDutilh N.V., Member of the Board of Trustees, Utrecht University

Speakers:

  • Simon Gleeson, Partner Clifford Chance LLP; P.R.I.M.E. Finance Expert
  • Michael Nelson, Associate General Counsel and Senior Vice President, the Federal Reserve Bank of New York; P.R.I.M.E. Finance Expert
  • Professor Pim Rank, Of Counsel, NautaDutilh N.V.; Professor of Financial Law, Leiden University; P.R.I.M.E. Finance Expert
  • Professor Eddy Wymeersch, Chairman, the Public Interest Oversight Board; Independent Director, Association for Financial Markets Europe; Independent Director, Euroclear SA.; P.R.I.M.E. Finance Expert

12:30 – 13:30

Lunch

13:30 – 15:00

The Not So Hidden Reality of Cryptocurrencies: Regulatory Enforcement and Litigation

“Crypto” comes from the Greek for hidden. Cryptocurrencies, though not exactly hidden, nevertheless have an element of mystery and inscrutability that means they do not adapt readily to the traditional regulated world of investments. When these new square pegs do not fit into those old round holes, what gives? Concerns about investor protection and fraud do not disappear merely because something is perceived to be the next big thing. On the other hand, stifling innovation through heavy-handed regulation is not in the interest of investors. This panel will explore how regulators and private litigants are working to fit these new products into traditional categories while preserving their essential innovative nature.

Session Chair:

Lisa Curran, Senior Counsel, Allen & Overy LLP; P.R.I.M.E. Finance Expert

Speakers:

  • Sharon Brown-Hruska, Director of the Securities and Finance Practice, NERA Economic Consulting; Visiting Professor of Finance, Tulane University; former Commissioner and acting Chairman, US Commodity Futures Trading Commission (CFTC); P.R.I.M.E. Finance Expert
  • Gary DeWaal, Special Counsel, Katten Muchin Rosenman, P.R.I.M.E. Finance Expert
  • Scott Farrell, Partner, King & Wood Mallesons; P.R.I.M.E. Finance Expert
  • Professor Tetsuo Morishita, Professor, Sophia University Law School; P.R.I.M.E. Finance Expert>
  • Hubert de Vauplane, Partner, Kramer Levin, Paris; Former Group General Counsel, Legal and Compliance, Crédit Agricole; P.R.I.M.E. Finance Expert

15:00 – 16:30

ESG, SDG, PDQ: Sustainable Finance and Emerging Markets

De-escalating Cross-Border Legal Tensions: The Role of Global Standards and P.R.I.M.E. Finance Experts

Sustainable finance, with its focus on environmental, social and governance (ESG) criteria in business and investment business decisions, is a growth area, particularly in emerging markets where there is a focus on the UN’s Sustainable Development Goals (SDGs) for 2030. Like traditional finance, however, the effectiveness of sustainable finance is highly dependent upon the rule of law and enforceable dispute resolution, key missions of P.R.I.M.E. Finance. A diverse panel of individuals driven to achieve the SDGs by leveraging sustainable finance will discuss the challenges for the coming decade.

Session Chair:

Heikki Cantell, General Counsel, Nordic Investment Bank; Former General Counsel, the Council of Europe Development Bank; Former Head of Branch, Heikki Haapaniemi Law Firm (Paris); P.R.I.M.E. Finance Expert

Speakers:

  • Salahuddin Manzoor, Owner and CEO, Mangrove Markets; former Global Treasurer, Habib Bank Ltd. Karachi; former Head of Business Development, Observatory Capital LLP.; former Global Head, Emerging Markets Trading FX, Derivatives and Local Fixed Income Markets, Paribas London; P.R.I.M.E. Finance Expert
  • Olasupo Shasore*, Partner, Africa Law Practice (ALP); former Attorney General and Commissioner for Justice, Lagos State; P.R.I.M.E. Finance Expert
  • Professor René Smits, Professor of the Law of the Economic and Monetary Union, University of Amsterdam; Alternate member of the Administrative Board of Review, European Central Bank; P.R.I.M.E. Finance Expert

Cross-border legal issues are often cast as clashes between national policies. Through years-long efforts, global standard setters, such as UNCITRAL and The Hague Conference on Private International Law, have developed instruments for securities and secured trans- actions that, when implemented broadly, can reduce these tensions. Efforts in Europe similarly seek a common approach on conflict of law rules in securities and assignments. After describing these instruments, this panel will explore how P.R.I.M.E. Finance Experts can facilitate greater awareness and reliance on these instruments.

Session Chair:

Peter Werner, Senior Counsel, ISDA; P.R.I.M.E. Finance Expert

Speakers:

  • Spyridon V. Bazinas, Independent Arbitrator and Legal Consultant; former Secretary, UNCITRAL Working Group VI (Security Interests); P.R.I.M.E. Finance Expert
  • Alban Caillemer du Ferrage*, Partner, Jones Day; P.R.I.M.E. Finance Expert
  • Thomas Werlen, Partner, Quinn Emanuel Urquhart & Sullivan LLP; former Group General Counsel and Executive Committee member, Novartis; P.R.I.M.E. Finance Expert

16:30 – 16:45

Closing remarks by Kristy Tillman, Executive Director, P.R.I.M.E. Finance

* Speakers to be confirmed

Register for the conference

Partnership Opportunities

The P.R.I.M.E. Finance Annual Conference provides for great networking opportunities. We invite you to register your firm as supporting entity. A wide range of sponsorship opportunities are available. Make sure your firm gets exposure at our event! For sponsorship opportunities and queries, please contact secretary@primefinancedisputes.org

Sponsors of the conference