›› Anti Money-Laundering  ›› Banking and Finance 
›› Company & Corporate Law  ›› Competition  
›› Commercial Property  ›› Construction  ›› Criminal Law  
›› Financial Services  ›› Fraud & Regulatory  
›› Insurance & Reinsurance  ›› Intellectual Property  ›› Licensing
›› Litigation and ADR  ›› Personal Injury Law & Medical Negligence
›› Practice Management  ›› Environmental Law

Date: Thursday 25 September 2008   
Venue: Hyatt Regency – The Churchill, Central London

›› Introduction   ›› The Programme   ›› The Speakers  ›› Book Now

Hear keynote speakers from the FSA and the SEC

Supported by:

Attending this cutting-edge forum will enable you to:

• Discover how the FSA’s shift in focus may impact you
• Learn what behaviour is likely to attract an FSA investigation
• Hear direct from the SEC about the lessons to be learnt from the US experience
• Understand how to minimise the reputational risk of an investigation
• Debate if the criteria in the Enforcement Guide are the right ones
• Assess the trends in co-operation between regulators
• Consider how best to challenge FSA decisions

A survival guide to the FSA’s new enhanced regulatory regime

Why attend this conference?

At the end of March the FSA was added to the list of specified prosecutors who hold the power to offer immunity from prosecution. This is a new weapon in the FSA’s armoury in its battle to combat insider dealing.

For the last couple of years, the FSA has been indicating its intention to utilise its powers as a criminal prosecutor. In her recent speech at the European Policy Forum, Margaret Cole, Director of Enforcement, FSA, explained why:

			‘It is a direct reaction to the findings of the market cleanliness study...and the belief that criminal prosecution where a custodial sentence is a real risk will act as a stronger deterrent than a civil/administrative market abuse prosecution under FSMA…it is a significant shift of emphasis for the FSA and it comes with risk.’

This prestigious conference will offer you the opportunity to hear about these recent developments in policy and procedure direct from Jamie Symington of the FSA. We are also delighted to welcome Joan McKown of the SEC and Thomas Newkirk (formerly of the SEC) to talk us through how their investigatory and enforcement processes work in practice and discuss the likely impact of their forthcoming investigation by the US congressional watchdog.

Chaired by Michael Blair QC, Butterworths is once again delighted to provide you with a panel of leading financial services litigators offering you plenty of opportunity to pose any concerns or queries you may have. They will be on hand to offer practical and strategic advice and will enable you to answer the following questions:

• What behaviour will attract an FSA investigation?
• How can I negotiate immunity in return for co-operation?
• Why prosecute when it could be heard by a Tribunal?
• What are the powers of the FSA in relation to foreign investigations?

Who should attend

This conference is a must for all regulatory and financial services litigators in private practice, barristers, heads of litigation, legal and compliance in corporates and financial institutions.

Hear what past delegates at our 2007 FSA Investigations and Enforcement conference said:

‘Excellent’
David Corker, Partner, Corker Binning

‘An outstanding panel of speakers..whose combined experience covered the topic comprehensively from all angles’
Will Twidale, Partner, Farrer & Co

›› Top ‹‹

The Programme...

8.50 Registration and coffee

9.20 Chair’s opening remarks

Michael Blair QC
3 Verulam Buildings

9.30 FSA policy update on insider dealing and immunity from prosecution

Jamie Symington
Head of Enforcement Wholesale Group,
FSA

10.15 What behaviour will attract an FSA investigation?

• FSA’s case selection, priorities and criteria
• Factors the FSA takes into account
• How to minimise the risks of an Enforcement led investigation

Philip Parish
Partner,
Lovells LLP

11.00 Coffee

11.20 Handling FSA investigations

• Minimising the reputational risk of an investigation
• Managing concurrent investigations by multiple regulators
• Negotiating immunity in return for co-operation
• Dealing with conflicts between the firm and its directors and employees

Sara George
Barrister,
Regulatory Investigations Group,
Allen & Overy LLP

12.00 Lessons learnt from the US experience

• The SEC enforcement process
• What the SEC Enforcement Division is up to today
• Defending an SEC investigation
• The end game

Joan McKown
Chief Counsel,
Division of Enforcement,
SEC

Thomas C. Newkirk
Partner,
Jenner & Block LLP

13.00 Lunch

14.00 Key themes from FSA enforcement actions

• Tough rhetoric from FSA Enforcement: higher fines; emphasis on criminal prosecution; “cold-calling” traders, but has it been matched by results?
• What are the lessons to be learnt from retail cases, particularly in the field of PPI and mortgage sales?
• The importance of Principle 3 - pay attention to your systems and controls or pay the penalty
• Why is there a paucity of wholesale cases? Has the FSA given up enforcing in this area?
• Settled cases - a pragmatic approach or fudged outcome?

Carlos Conceicao
Partner,
Clifford Chance and Secretary of FSLA

14.45 Jury or Tribunal? The decision to prosecute

• Why prosecute when it could be heard by a Tribunal?
• Are the criteria in the Enforcement Guide the right ones?
• Should the defence be allowed to make representations as to the appropriate course?
• Once criminal proceedings have been instituted is there a road back to a Tribunal hearing?
• Should any statutory immunity powers allow for a person to admit guilt before a Tribunal?
• Isn’t a Tribunal of specialists better placed to make a decision than a jury?

Michael Bowes QC
Outer Temple Chambers

15.30 Afternoon Tea

15.50 International regulatory cooperation

• The legal/regulatory framework
• The powers of the FSA in relation to foreign investigations
• Trends in co-operation between regulators
• Practical examples of difficult issues when facing international investigations

James Bagge
Consultant,
Norton Rose

Dorian Drew
Partner,
Norton Rose

16.30 Challenging FSA decisions

• The Financial Services and Markets Tribunal: What is it and how to engage it
• The Tribunal’s jurisdiction: ‘references’ and not appeals
• The Hearing
• Outcomes are determinations on references
• Tribunal rules, procedures and reports

Sir Stephen Oliver QC
President,
Financial Services and Markets Tribunal

17.15 Q&A panel

17.25 Chair’s closing remarks

---

›› Top ‹‹

Who are the speakers?

Chaired by:

MICHAEL BLAIR is a specialist on financial services and financial services regulation. He joined Chambers in 2000 after serving as General Counsel to the Board of the Financial Services Authority from 1998-2000 and as head of the legal function in its predecessor body, the Securities and Investments Board, from 1987-97. He is listed in Chambers & Partners as a leader in the field of Financial Services, being highly valued by clients for his insights into the workings of the FSA. His broad-based financial services practice means that he is in demand by those who view him as a high-powered player in the field.

Speakers:

Jamie Symington has led some high profile FSA actions including the case of Citigroup’s European government bond traders and the matter of Philippe Jabre/GLG. Since 2006 he has been head of the Wholesale Group, which is responsible for the investigation and prosecution of insider dealing, market abuse and matters relating to wholesale firms.

Philip Parish’s experience covers all aspects of litigation arising in respect of the dealing and advisory activities of financial institutions in securities, derivatives and structured products. He also regularly acts in contentious regulatory matters such as internal investigations and defending enforcement and disciplinary proceedings brought by the FSA and other regulatory, disciplinary and criminal authorities in the UK and overseas.

Sara George is a specialist in investigations into criminal and regulatory contraventions. She joined Allen & Overy from the Enforcement Division of the Financial Services Authority (FSA). She led the first prosecution of a Director for making a misleading statement to the market for the FSA.

Joan McKown has been the Chief Counsel of the Division of Enforcement of the Securities and Exchange Commission since November 1993. Ms. McKown joined the Commission’s Office of General Counsel in 1986 after clerking for Judge J. Smith Henley of the United States Court of Appeals for the Eighth Circuit.

Thomas C. Newkirk is Co-Chair of the firm’s Securities Litigation Practice. Currently he represents a number of major public companies, audit committees, directors and officers in confidential SEC investigations and disclosure issues. Previously, he spent 19 years in senior enforcement positions at the SEC.

Carlos Conceicao was formerly head of the FSA’s Wholesale Group in Enforcement. Carlos is recognised as a leading expert in regulatory issues affecting financial institutions with particular expertise in the investigation of and regulatory action in market abuse and other market misconduct.

Michael Bowes QC’s practice covers the areas of commercial crime (prosecution and defence) including acting for the SFO and the FSA, financial regulatory and other disciplinary work (including acting for the Council of Lloyd’s), health and safety at work and other serious crime. He was called to the Bar in 1980, was made a Recorder in 2000 and took silk in 2001.

James Bagge’s specialist area is fraud and the regulation of investment and banking business, in particular all forms of investigations, statutory or private, and associated legal proceedings involving the FSA, the SFO, the DTI and revenue authorities. The legal directories identify him as “an absolute leader in this field”.

Dorian Drew specialises in litigation, investigations and regulatory proceedings in the banking and financial services sector. Dorian acts for clients in both the wholesale and retail markets and has significant experience of responding to cross-border investigations and regulatory action. He has also been seconded to the Enforcement Division of the Financial Services Authority.

Sir Stephen Oliver QC is the Judicial Head of the Finance and Tax Tribunals. These include the Financial Service and Markets Tribunal and the Pensions Regulator Tribunal of which he has been President since each was created. Mr Oliver has practised at the Bar since 1964.

›› Top ‹‹

Administration

VENUE:
Central London.
The venue will be confirmed in the joining instructions letter, once we have received your booking.

FEE
Your one day fee includes attendance, refreshments, lunch and course documentation. Full payment, including VAT must be received prior to the conference. Please post a cheque for the full amount with your completed registration form or complete the credit card payment details. Once payment has been received a VAT invoice/receipt will be sent. Invoices must be paid in UK Sterling on a UK bank. Payment for invoices will not be accepted in US dollars.

OUR CONFIRMATION OF YOUR BOOKING
All bookings will be acknowledged in writing within five working days of their receipt and joining instructions (final conference details and a venue location map) will be emailed to delegates approximately two weeks before the event. Please telephone the Bookings Enquiries line immediately:

• if you have not received written acknowledgement of your booking within 7 days of sending it by fax, post or email or
• if you have not received your joining instructions five days before the event

HOTEL ACCOMMODATION
Venuehunt Ltd
Tel: 01722 500 675
Fax: 01722 500 729
Email: lexisnexis@venuehunt.co.uk
Quote the code VHLEX at the time of booking.

ADDITIONAL REQUIREMENTS
LexisNexis® conferences would like to ensure that all delegates can participate fully at our events. If you have any additional requirements, eg, wheelchair access, large print documentation or an induction loop, or if you have any particular dietary requirements please let us know on the adjacent form.

CERTIFICATE OF ATTENDANCE
A certificate of attendance is available on request, following your attendance at this conference, as a record of your training and development.

DOCUMENTATION SALE
Your notes will be dispatched within five working days after the event. Please call us if you do not receive your notes by two weeks after the event.

CANCELLATIONS
A refund of fees will be made only for cancellations received in writing at least 14 days before the event (less a 25% cancellation fee to cover administration costs). No refunds will be made for cancellations received within 14 days of the event and failure to attend after confirming a booking will be subject to the same terms. We regret that the transfer of a booking to another event cannot be made but a substitute delegate will be accepted at any time before the event.

This programme is correct at the time of going to press. However, we reserve the right to alter or cancel the programme due to circumstances beyond our control.

›› Introduction   ›› The Programme   ›› The Speakers  ›› Book Now

›› Top ‹‹

‹‹ Back