L&C 2019 Program
Registration Opens
Arrival Hospitality
Opening Remarks
Thurgood Marshall Ballroom
person speaker:
President, FIA Law & Compliance Division, and Executive Director & Assistant General Counsel
J.P. Morgan
1. Getting Direction from the CFTC Directors
Thurgood Marshall Ballroom
The CFTC Division Directors will provide insight as to their responsibilities, regulatory concerns and priorities.
person moderator:
President, FIA Law & Compliance Division, and Executive Director & Assistant General Counsel
J.P. Morgan
people speakers:
Director, Division of Clearing & Risk
Commodity Futures Trading Commission
Director, Division of Swap Dealer and Intermediary Oversight
Commodity Futures Trading Commission
Director, Division of Enforcement
Commodity Futures Trading Commission
Director, Division of Market Oversight
Commodity Futures Trading Commission
2. In the Enforcement Spotlight: Manipulation and Misappropriated Information
Thurgood Marshall Ballroom
Recent cases have shined a spotlight on manipulation and misappropriated information enforcement cases. Listen to a panel of experts provide an in-depth explanation of the legal standards, trends in enforcement, and recent case law.
person moderator:
Managing Director & Counsel, Legal and Compliance Department, Morgan Stanley, and General Counsel & Secretary
Morgan Stanley Capital Group
people speakers:
Partner
Steptoe & Johnson
Of Counsel
Skadden, Arps, Slate, Meagher & Flom
Principal Deputy Director, Division of Enforcement
Commodity Futures Trading Commission
Deputy Chief Compliance Officer & Global Head of Fixed Income and Commodities Compliance
Millennium Management
Partner
Willkie Farr & Gallagher
Networking Break
3. Getting to Know the NFA
Thurgood Marshall Ballroom
The NFA safeguards the integrity of the derivatives markets, protects investors and ensures its members meet their regulatory responsibilities. Come meet key people at the NFA, learn what they do to meet the NFA’s critical mission, and find out what the NFA has in store for the coming year.
person moderator:
Executive Director & Associate General Counsel
CME Group
people speakers:
Managing Director, Market Regulation
National Futures Association
Assistant General Counsel
National Futures Association
Vice President, OTC Derivatives
National Futures Association
Senior Vice President, Compliance
National Futures Association
Vice President & General Counsel
National Futures Association
4. Rostin Behnam and Brian Quintenz: Retrospective and Prospective
Thurgood Marshall Ballroom
person chair:
General Counsel & Chief Legal Officer
FIA
people speakers:
Commissioner
Commodity Futures Trading Commission
Commissioner
Commodity Futures Trading Commission
Opening Reception
Marriott Ballroom
Registration Opens
Continental Breakfast
5. This Isn't Their First Rodeo
Thurgood Marshall Ballroom
New CFTC Commissioners Dan Berkovitz and Dawn Stump discuss their priorities.
person moderator:
President, FIA Law & Compliance Division, and Executive Director & Assistant General Counsel
J.P. Morgan
people speakers:
Commissioner
Commodity Futures Trading Commission
Commissioner
Commodity Futures Trading Commission
Exhibits Open
6. Tearing Down the Cross-Border Wall
7. Regulatory Reporting and Recordkeeping Requirements: Does Your Firm Do/ Have It Right or Not?
8. There’s Another Sheriff in Town: Enforcement by Exchanges
9. The ABCs of FCMs
Lincoln Ballroom 1
Cross border regulation and market impact face critical tests and reviews. This panel will discuss the practical impacts to U.S. market participants of Brexit, MiFID II, CFTC actions on cross-border regulation of CCPs, concepts in Chairman Giancarlo’s Cross Border White Paper, and more.
person moderator:
Managing Director & Counsel
Citigroup Global Markets
people speakers:
Associate General Counsel, Global Banking and Markets
HSBC
Senior Counsel, Office of the Chairman
Commodity Futures Trading Commission
Partner
Katten Muchin Rosenman UK
Director & Assistant General Counsel
CME Group
Associate
Morgan Lewis
Vice President of Legal, Europe
FIA
Lincoln Ballroom 2
What data and reports are you sending and what’s required for FCMs, SDs, CTAS, CPOS and other financial firms? How can you protect or keep confidential any such data provided to an agency? What measures/policies must your firm have in the event of a breach by the agency or even your firm? What other risks may exists? What is GDPR and can you get around it?
person moderator:
Professor of Law and Director of Financial Services Law Institute
New York Law School
people speakers:
Associate General Counsel
National Futures Association
Partner
Fried Frank Harris Shriver & Jacobson
Compliance Director
Societe Generale
Associate Director, Registration & Compliance, Division of Swap Dealer and Intermediary Oversight
Commodity Futures Trading Commission
Managing Director, General Counsel
R.J. O’Brien & Associates
Lincoln Ballroom 3
Exchanges have their own rule enforcement priorities, matters and penalties. What is the impact of exchange settlements on CFTC parallel or follow-on actions? Who better to tell you about their approach then exchange and CFTC enforcement personnel? Find out what’s new in exchange enforcement matters as well what matters you will see in the future.
person moderator:
Partner
Sullivan & Cromwell
people speakers:
Special Counsel to the Director of Enforcement
Commodity Futures Trading Commission
Officer
Greensfelder, Hemker & Gale
Partner
Katten Muchin Rosenman
Enforcement Counsel, Market Regulation Department
ICE Futures U.S
Executive Director, Global Head of Enforcement
CME Group
Lincoln Ballroom 4
It always helps to understand the basics. Come learn about the key aspects of being an FCM: regulatory framework, market structure, risk management program, chief compliance officer obligations, documentation, recordkeeping and reporting, and customer asset protection.
person moderator:
Partner
Katten Muchin Rosenman
people speakers:
Managing Counsel
Wells Fargo
Director, Futures/Derivatives Clearing Compliance
Citigroup Global Markets
Executive Director, Rules & Regulatory Outreach
CME Group
Managing Director
National Futures Association
Networking Break
10. SEC/CFTC Harmonization: Can this Marriage be Saved?
11. Someone to Watch over Me: Why, What and How to Surveil
12. The Unintended Consequences of Dodd-Frank Regulations to Commercial End Users
Lincoln Ballroom 1
Market participants have long lived with disparate regulations from the SEC and CFTC, but should they have to? This panel will discuss issues presented to the SEC and CFTC for potential harmonization and cooperation such as security-based swaps regulation, portfolio margining, and recordkeeping, as well as the prospects for an amicable reconciliation.
person moderator:
Managing Director & Counsel, Legal & Compliance
Credit Suisse Securities
people speakers:
Chief Compliance Officer – Futures
TradeStation Securities
Assistant General Counsel
Intercontinental Exchange
Partner
Cleary Gottlieb Steen & Hamilton
Associate Director, Division of Trading & Markets
Securities and Exchange Commission
Partner
Sullivan & Cromwell
Deputy Director, Capital, Margin and Segregation, Division of Swap Dealer and Intermediary Oversight
Commodity Futures Trading Commission
Lincoln Ballroom 3
Building an effective surveillance program has its challenges, and often the ‘effectiveness’ of the program is determined in hindsight after an issue has already occurred. Ineffective surveillance may lead to allegations of inadequate supervision. From challenges relating to calibration of automated reports, and conducting manual sampling reviews, to challenges around addressing problematic trading activity and demonstrating appropriate supervision, this panel will take a practical look at building an effective surveillance program and answer the questions of why, what, and how to surveil.
person moderator:
Executive Director, Head of Americas Financing Services Compliance
UBS
people speakers:
Partner
Drinker Biddle & Reath
Associate Director
UBS
Vice President, Securities Division Compliance
Goldman Sachs
Senior Director, Investigations
CME Group
Director, Market Regulation
Intercontinental Exchange
Lincoln Ballroom 2
Dodd Frank regulations implemented in the wake of the financial crisis have had a number of unintended consequences on end user firms, ranging from impacting market liquidity and limiting hedging, to additional margin and clearing requirements, as well as potential onerous capital requirements.
person moderator:
Head of Commercial Advocacy & Regulatory Affairs
BP
people speakers:
Chief Compliance Officer, Cargill Risk Management
Cargill
Head of Compliance
Vitol Group
Partner
Winston & Strawn
Managing Director
Mizuho Americas
Associate General Counsel
FIA
Keynote Lunch
Thurgood Marshall Ballroom
Margaret Brennan has reported on politics, international affairs, and global markets for nearly two decades. Currently the moderator of CBS News’ Face the Nation and the network’s senior foreign affairs correspondent, she is one of the most visible faces in political news today and only the second-ever female host of the 63-year-old program. Brennan focuses on offering a fact-based review of the day’s biggest ongoing news as well as breaking stories, and draws on her extensive global experience to provide an unbiased, big-picture look at the issues that matter now. She skillfully connects waves passing through Washington to larger global tides turning and remaking culture, politics, the global economy, and more.
13. It’s Time to Start a Blockchain Revolution (or Not)
14. The Best Laid Plans: Compliance Testing and Monitoring
15. Asset Management / Buy Side Issues
Sponsored Session: Thompson Coburn: Expansion of Criminal Liability to Non-Traders
Lincoln Ballroom 3
Many people are lauding the advent of blockchain as the solution to industry problems. What exactly can blockchain do as a practical matter in the industry? What are the regulatory issues to implementing such proposed solutions? Does the industry even have problems that need to be solved by blockchain?
person moderator:
Managing Director & Associate General Counsel
Goldman Sachs
people speakers:
Director, Prime Derivatives Client Solutions
Credit Suisse
Director, Group Strategy
Barclays
Partner
Jones Day
Of Counsel
DLA Piper
Partner
Sidley Austin
Lincoln Ballroom 1
Even the best laid plans are subject to failure, that includes your compliance plans. Learn how to design and implement compliance testing and monitoring to make sure your compliance plans are doing what they should as well as learn what regulators expect to see in your compliance testing and monitoring programs.
person moderator:
Director & Senior Counsel
RBC Capital Markets
people speakers:
Senior Vice President, Legal
Macquarie Group
Managing Director
Promontory Financial Group
Associate
Willkie Farr & Gallagher
Managing Director, Compliance
Societe Generale
Lincoln Ballroom 2
This session will review a potpourri of issues related to managed money through a review of CFTC, NFA and SEC initiatives that impact CPOs and CTAs, including the SEF and Part 4 rule proposals, position aggregation rules and Ownership and Control Reports (OCR), recent no-action letters, NFA’s new internal controls requirement, NFA exam priorities, regulatory change wish list and other areas of interest.
person moderator:
Partner
Willkie Farr & Gallagher
people speakers:
Director, Audit Management & Education
National Futures Association
Associate General Counsel
Managed Funds Association
Partner
Cadwalader, Wickersham & Taft
Partner
Fried Frank Harris Shriver & Jacobson
Acting Deputy Director, Registration & Compliance
Commodity Futures Trading Commission
Branch Chief
U.S. Securities and Exchange Commission
Lincoln Ballroom 4
Expansion of Criminal Liability to Non-Traders: Legal Issues Presented by U.S. v. Jitesh Thakkar
Recently the DOJ prosecuted the owner of a software company for providing software used by “Flash Crash” trader Navinder Sarao. Although the DOJ failed to obtain a conviction, the legal issues raised by the prosecution will have an important and lasting impact. What liability do non-traders have for trading activity by traders they assist? Can a non-trader’s knowledge of the law or the trading industry be used to prove constructive knowledge of criminal activity?
Networking Break
16. Taking the Cryptic Out of Cryptos – An Overview of the Current Regulatory Status and Litigation Involving Cryptoassets
17. AML/BSA/OFAC/CDD/KYC: It’s Not Just Alphabet Soup
18. Swaps Execution and SEFs: Take Two
Sponsored Session: Whistler: Keep Regulators At Bay...Stop Damaging Communications Before They Happen
Lincoln Ballroom 1
This panel will provide a brief view of the technical distinctions between different types of cryptoassets, explaining their purposes and technical characteristics and discuss how different regulators classify cryptoassets for the purpose of applying existing laws and regulations. The panel will also explore how judicial decisions are beginning to impact the regulation of cryptoassets in the United States and relevant legislative initiatives worldwide.
person moderator:
Special Counsel
Katten Muchin Rosenman
people speakers:
Attorney
Murphy & McGonigle
Director, Advisory
PricewaterhouseCoopers Advisory Services
Chief of Staff, Office of Chairman J. Christopher Giancarlo
Commodity Futures Trading Commission
Partner
Steptoe & Johnson
Partner
Perkins Coie
Lincoln Ballroom 2
Market participants need to understand their requirements under a veritable alphabet soup of obligations. What are AML requirements in a cross- border world: whose rules apply and how do you make everyone happy? What exactly do you have to do with an OFAC blocked account? How do you implement FinCEN’s CDD requirements? This panel will discuss the answers to these questions, and more.
person moderator:
Chief Compliance Officer & Regulatory Counsel
Marex North America
people speakers:
Managing Director & Global Head of AML Compliance Risk Management, Markets & Banking
Citigroup
Partner
Covington & Burling
Partner
Schulte Roth & Zabel
Special Counsel
Commodity Futures Trading Commission
Lincoln Ballroom 3
Although remakes in the movie industry are quite popular, they can be quite disruptive to regulated financial markets. What would the CFTC’s proposed amendment to swaps execution and SEF rules mean to the market and its participants? Do we really need this rule re-make?
people moderators:
Senior Vice President & Assistant General Counsel
Citigroup Global Markets
Executive Director, Global Markets Legal Department
Nomura
people speakers:
Executive Director & Head of Regulatory Reform Strategy, Legal and Compliance Division
Morgan Stanley
Managing Director, Head of the U.S. Global Public Policy Group
BlackRock
Managing Director & General Counsel
Tradeweb
Partner
Reed Smith
Special Counsel, Division of Market Oversight
Commodity Futures Trading Commission
Lincoln Ballroom 4
Keep Regulators At Bay...Stop Damaging Communications Before They Happen
Learn how former DOJ and CFTC attorneys view your surveillance policy, hear how some companies got in hot water, and what investigations are like on the other side! We’ll discuss effective policies and best practices which keep the CFTC and DOJ at bay!
person moderator:
Partner, Lead Defense Counsel in Energy & Commodities Matters, Expert in e-Discovery and Cannabis Regulation
Eversheds Sutherland
people speakers:
Partner, Former DOJ Prosecutor, International Authority on White Collar Enforcement, Anti-Corruption, & Transnational Criminal Liability
Pierce Atwood
Chief Executive Officer, Former Trader & Rocket Scientist
Whistler
General Counsel, Expert in Compliance Matters within the Energy Sector, & Former Trial Attorney for the CFTC
Concord Energy Holdings
star_border Sponsored by:
Networking Reception
Late Night Karaoke
Madison Room
Registration Opens
Continental Breakfast
Thurgood Marshall Ballroom Foyer
19. CFTC Keynote Address
Thurgood Marshall Ballroom
The Tao of Derivatives Clearing: Clearinghouse Resiliency, Recovery and Resolution
person speaker:
Chairman
Commodity Futures Trading Commission
Exhibits Open
20. Hidden in Plain Sight: Regulatory Initiatives You Should Know About
21. Think Before You Tweet: Ethics and the Use of Social Media
22. The Importance of Supervision
Lincoln Ballroom 1
The regulatory change environment appears to be in a constant state of expansion and it’s hard for anyone to keep up. This panel of experts will help you find your away around some of the major regulatory initiatives both hidden in plain sight and on the distant horizon. Topics will include Digital Assets, EMIR Refit, U.S. advances in privacy regulation, the EU’s Investment Firm Review, ongoing Dodd-Frank related reform out of both the CFTC and SEC and, of course, the cross border impact these initiatives will have on our day to day.
person moderator:
Director
Barclays
people speakers:
U.S. Head of Compliance
Tradeweb
Director & Counsel
Credit Suisse Securities
Partner
Davis Polk
Associate Director, Office of International Affairs
Commodity Futures Trading Commission
Vice President, OTC Derivatives
National Futures Association
Partner
Foley & Lardner
Lincoln Ballroom 3
Use of social media is becoming an ever-increasing part of the practice of law. But be careful! Ethics pitfalls abound in social media. Come learn what to not to do when you post or tweet.
person moderator:
Managing Director
The Global Capital Group
people speakers:
Director & Associate General Counsel
Bank of America Merrill Lynch
Assistant General Counsel
National Futures Association
Partner
Mayer Brown
Partner
BakerHostetler
Lincoln Ballroom 2
Failures in supervision has become a prevalent focus in more enforcement cases these days. This means diligent supervision is not optional in our current regulatory environment. But how exactly does one effectively supervise in order to avoid sanctions, fines or reputational damage? This panel will discuss supervisory best practices, lessons learned and guidance available to assist you in meeting your supervision obligations.
person moderator:
Executive Director, Risk Management Group, Compliance
Macquarie Group
people speakers:
Partner
Reed Smith
Vice President, Securities Division – Compliance Division
Goldman Sachs
Special Counsel, Registration & Compliance Branch, Division of Swap Dealer and Intermediary Oversight
Commodity Futures Trading Commission
Executive Director, Corporate & Investment Bank
J.P. Morgan
Director, Compliance Department
Credit Suisse
Managing Director, Swaps Department Examination
National Futures Association
Networking Break
Exhibit Hall & Attendee Lounge
23. Uncleared Swaps: No “Margin” for Error
24. True Detective: Audits, Inquiries & Investigations
25. CCPs Are Really Central to Clearing
Lincoln Ballroom 1
Uncleared swaps carry the burden of a number of challenges such as initial margin requirements, capital issues, inconsistent global regulation. Experts on this panel will explain what these challenges are, what they mean to the industry, and what can be done to fix them.
person moderator:
Managing Director, Compliance
Wells Fargo Securities
people speakers:
Managing Director, Chief Compliance Officer, Futures Commission Merchant & U.S. Swap Dealers
J.P. Morgan
Partner
Allen and Overy
Managing Director, Securities Division
Goldman Sachs
Partner
Gibson, Dunn & Crutcher
Lincoln Ballroom 3
How do you respond to a regulatory audit or inquiry? How do you conduct an internal investigation? This panel will discuss best practices to handle these every day, real-life dramas, including when you've been subject to a cyber attack.
person moderator:
Partner
Steptoe & Johnson
people speakers:
Assistant General Counsel, Government Investigations & Regulatory Enforcement Executive Director
J.P. Morgan
Partner
Sullivan & Cromwell
Executive Director, Compliance
Mizuho Securities USA
Counsel
Skadden, Arps, Slate, Meagher & Flom
Partner
Paul Hastings
Assistant General Counsel & Vice President
Bank of America Merrill Lynch
Lincoln Ballroom 2
There can be no doubt about the importance of the role CCPs play in today’s futures and swaps markets. Given this central role, CCP risk management and resiliency are essential. This panel will discuss the key characteristics of safe and sound CCPs as well as discuss what additional measures the industry should be advocating for.
person moderator:
Chief Operating Officer & Senior Vice President of Global Policy
FIA
people speakers:
Managing Director & Associate General Counsel
Bank of America Merrill Lynch
Executive Director, Global Clearing & Risk Policy
CME Group
Managing Director, Global Head of FMI Risk Management
Citigroup
Deputy Director, Risk Surveillance, Division of Clearing & Risk
Commodity Futures Trading Commission
Senior Policy Advisor, Financial Markets Group
Federal Reserve Bank of Chicago
Partner
Milbank
Networking Grab & Go Lunch
Exhibit Hall & Attendee Lounge