Regulatory

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The recent economic crisis and subsequent financial services regulatory restructuring effort have exposed a number of significant structural defects in the system including:
- A lack of coordination among regulators;
- A lack of systemic oversight;
- Gaps in regulation of financial firms and financial products; and
- Inadequate procedures to resolve the failures of large non-banking institutions.

Within the last twelve months, there have been many regulatory reform proposals released, including proposals by former Treasury Secretary Paulson, the General Accountability Office (GAO), the Group of Thirty, and legislative proposals by the current Treasury Department and Capitol Hill. Also, the legislation that created the TARP program called for two studies on this topic: one by the TARP oversight committee, which was published in January, and another by the Secretary of the Treasury, which is due in April. Additionally, financial services trade associations are in the process of either developing principles for financial regulatory reform or devising specific reform proposals.

The financial services industry, as a whole, recognizes that sound regulation promotes sound practices and consumer confidence. Although all of these proposals differ on some specifics, there is some commonality. At this event, a panel of key thought leaders and experts discuss the differences and commonality among these proposals and what we might likely expect on regulatory reform going forward. This is a must attend LIVE webcast for all professionals interesting in financial regulatory matters.

Course Level: Intermediate
Prerequisite: None
Method Of Presentation: Group-Based-Internet
Developer: The Knowledge Group, LLC
Recommended CLE/CPE Hours: 1.75 - 2.0
(Please note, your State Bar or Accounting Board will make the final determination with respect to continuing education credit. If you are applying for CLE credit in Texas you must register 20 days before the event date.)
Advance Preparation: Print and review course materials
Course Code: 083794
Recording Fee: $299 (Please click here for details)
NASBA Sponsor Number: 109004

 

Featured Speakers for Regulatory Restructuring of the Financial Services live webcast:


  Event Talking Points (click here to view more)
SEGMENT 1:


Melissa Netram, Director, Regulatory and Securities Affairs,
The Financial Services Roundtable

1. Why Regulatory Restructuring of the financial services industry is needed
2. How the various proposals for regulatory restructuring will impact the industry (in either a positive or negative way)
3. What type of regulatory restructuring is likely, given the political environment
4. Without comprehensive regulatory reform, what types of reform is necessary

SEGMENT 2:


Russell J. Bruemmer, Partner, Chair, Financial Institutions Practice Group,
Wilmer Cutler Pickering Hale and Dorr LLP

1. Current U.S. Financial Regulatory Structure – multiple regulators: banking, securities/commodities, insurance, other state and federal financial regulators.

2. The Meltdown – a brief chronology of the crisis and the government responses.

3. Regulatory Reform -- Non-bank resolution authority: blending insolvency regimes so that troubled institutions with multiple types of charters in a variety of geographic locales can be "resolved" on a consolidated, or at least coordinated, basis?

4. Regulatory Reform – Other solutions:

(a) “Systemic Risk” regulator with authority over the entire financial system – who will be the regulator, what will its powers be, and which institutions will be viewed as systemic?

(b) Merge regulators/charters or continue with a regulatory system determined primarily by choice of charter? Does the approach put forth in the Paulson Blueprint have any continuing merit, and will the SEC maintain a prominent role in a restructured regulatory system, or has the locus of authority shifted to the Treasury and Federal Reserve?

SEGMENT 3:


Linda A. Watters, Managing Director, Insurance Regulatory Practice,
KPMG LLP

1. The Optional Federal Charter and The Potential Impact on the Insurance Industry – Congress is considering and has introduced legislation to create a national insurance regulator. Currently, insurance is regulated on a state-by-state basis. Creating a bifurcated system, similar to the banking industry will have a significant impact on the insurance industry.

2. TARP and the Insurance Industry – The reality of converting from an insurance regulator to a bank regulator in order to accept TARP funds has resulted in a myriad of new processes and procedures for the industry.

3. Rethinking Credit Scoring – The state insurance regulators are re-examining the use of insurance scoring in setting premiums in light of the credit crisis.

4. Capital Adequacy - Insurers pressured with risk based capital requirements by the regulators must assess their capital adequacy levels



The Financial Services Roundtable
Melissa Netram
Director, Regulatory and Securities Affairs
speaker bio »»

Wilmerhale
Russell J. Bruemmer
Partner, Chair, Financial Institutions Practice Group
speaker bio »»

KPMG LLP
Linda A. Watters
Managing Director, Insurance Regulatory Practice
speaker bio »»

Who Should Attend?

- CEOs
- CFOs
- Financial Execs
- Economists
- Compliance Officers
- Banks & financial institutions
- Business Consultants
- CPAs & Accounting firms
- Valuation Specialists
- GCs of Financial Firms,
- Valuation Specialists & Consultants
- Risk Officers

Why Attend?

This is a must attend event to everyone to hear the up-to-the minute updates, issues and developments concerning the Regulatory Restructuring of the Financial Services Industry.
- New guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A

Registration Information:                                                                                                                                    



Regulatory Restructuring of the Financial Services Industry: What You Need To Know
Speaker Firms and Organition:







 

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