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ALFI LEADING
EDGE CONFERENCE
New Depositary Rules & other
Service Provider related issues
RBC Investor & Treasury
Services, Luxembourg
February 25th,2015
welcome
Dear Fund Industry Professionals,
ALFI is pleased to announce its next Leading Edge Conference fully dedicated to the new
regulations applicable to depositaries and their implications for other service providers.
With CSSF Circular 14/587 just behind us and a number of upcoming local and European
regulations, this one day event will combine a thorough legal and regulatory analysis, highly
topical research, practical insights and technical discussions that will provide an ideal
opportunity for all industry stakeholders to gain a deep insight on what these regulations
mean for them in practice.
New Depositary Rules and other Service Provider related issues
An ALFI Leading Edge Conference
Wednesday, February 25th, 2015
At the premises of RBC Investor & Treasury Services S.A., Esch-Alzette, Luxembourg
The conference will be a unique opportunity to hear from and exchange views with leading
industry experts on:
•
Selection, initial due diligence and ongoing review of service providers by the depositary;
•
Segregation and record keeping of assets;
•
Governance and prevention of conflicts of interests;
•
Depositary/custody delegation and sub-delegation operating models;
•
Liquidity oversight requirements and other controls;
•
The role of the management company in light of the new depositary circular
Business as usual?
A presentation by the regulator will provide participants a panorama of applicable laws and
regulations and a view on the regulator’s approach to the matter.
Please find the conference programme on the following pages.
We are offering our members a very modest attendance fee starting at the early bird rate of EUR
250 for payments made by the 4th February 2015. The non-member rate is EUR 550.
Please click here to register.
We hope to have the pleasure of welcoming you at the conference.
Yours sincerely,
Camille Thommes
Director General
programme a.m.
08.15 – 09.00
Registration & breakfast
09.00 – 09.10
Welcome & introduction
François Drazdik, Head of Administration, ALFI
09.10 – 09.25
Chairperson’s introduction
Martin F. Dobbins, Managing Director & Country Head Luxembourg, State Street Bank
Luxembourg
09.25 – 10.10
Setting the scene
Panorama of applicable laws and regulations/Origin of circular 14/587 - objectives and issues
addressed/Interactions between the different Luxembourg and EU regulations/Upcoming
regulations (UCITS V...)
Marc-André Bechet, Director Tax & Legal, ALFI
Laurent van Burik, Head of Division, Senior Advisor, CSSF
10.10 – 10.40
Coffee break
10.40 – 11.40
Selection, initial due diligence and ongoing review on service providers
by the depositary
Sub-custodians/Prime brokers/Collateral agents/Monitoring and due diligence requirements for
non-custodied assets
Setting the scene by:
Yvan de Laurentis, Head of Depositary and Fiduciary Services, BNP Paribas Securities
Services, Luxembourg
Panel discussion:
Moderator: Yvan de Laurentis, Head of Depositary and Fiduciary Services, BNP Paribas Securities
Services, Luxembourg
Panelists:
Séverine Loisel, Head of Depositary Bank , Edmond de Rothschild (Europe)
Luxembourg
David Claus, Managing Director & Luxembourg Country Executive, The Bank of New
York Mellon (Luxembourg) S.A.
Bernd Henninger, Executive Director, EY, Luxembourg
Simon Ramos, Partner, Advisory & Consulting - Investment Management Services
Deloitte Luxembourg
11.40 – 12.40
Segregation and record keeping of assets
Global sub-custodians/Prime broker accounts/Derivatives/Collateral management/Emerging
markets
Setting the scene by: Claude Niedner, Partner, Arendt & Medernach, Luxembourg
Panel discussion:
Moderator: Ian Barnes, Executive Director, J.P. Morgan Bank Luxembourg S.A.
Panelists:
Anne Sophie Minaldo, Partner, KPMG Luxembourg S.à.r.l.
Ana Vazquez, Head of Fund Structuring & Domicile, CACEIS Bank Luxembourg
David Coast, Director, Credit Suisse (Luxembourg) S.A.
Claude Niedner, Partner, Arendt & Medernach, Luxembourg
12.40– 12.45
Chairperson’s wrap up
12.45 – 14.00
Buffet lunch
programme p.m.
Afternoon sessions
14.00 – 14.05
Chairperson’s introduction
Sebastien Danloy, CEO, RBC Investor Services Bank S.A.
14.05 – 14.35
Governance and prevention of conflicts of interest
Hermann Beythan, Partner, Linklaters LLP, Luxembourg
Serge d’Orazio, Head of Institutional & Professional Services (Luxembourg), KBL European Private
Bankers S.A., Luxembourg
Nikolaus Rummler, Managing Director, IPConcept (Luxembourg) S.A.
14.35 – 15.20
Depositary/Custody delegation and sub-delegation operating models
Group co-operation models/Delegation rules and organisational requirements/Practical experiences
Moderator: Jean-Christian Six, Partner, Allen & Overy, Luxembourg
Panelists: Isabelle Goethals, Head of Depository, HSBC Bank plc, Luxembourg Branch
Joanna Meager, Global Head of Client Operations, RBC Investor & Treasury
Services, London
Jean-Marc Crepin, Partner, Brown Brothers Harriman, Luxembourg
15.20 – 15.50
Coffee Break
15.50 – 16.30
Liquidity oversight reguirements and other controls
Cash monitoring/Subscriptions and redemptions oversight/Execution and evaluations controls
Moderator: Olivier Carré, Partner, PwC, Luxembourg
Panelists:
16.30 – 17.15
Ian Headon, Head of Product Developement, Depositary Services, EMEA, Northern
Trust, Dublin
Jean-Pierre Gomez, Head of Regulatory & Public Affairs, Societe Generale Securities
Services, Luxembourg
Thierry Portz, Senior Manager, Head of Depositary Bank Control and Oversight,
Nomura S.A.
The role of the management company in light of the new depositary
circular - business as usual?
Moderator: Jacques Elvinger, Partner, Elvinger, Hoss & Prussen
Panelists:
Arnaud Bon, Private Equity & Real Estate Leader, SGG Luxembourg
Graham Goodhew, Director & Conducting Officer, J.P. Morgan Asset Management
(Europe) S.à r.l., Luxembourg
Revel Wood, CEO, RBS (Luxembourg) S.A.
17.15 – 17.20
Chairperson’s closing remark
17.20– 18.30
Closing drink
sponsors
Leading Edge Conference
Luxembourg
25/02/ 15