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Short Course on Financial Services and Markets Regulation

25-29 September 2017

PLEASE NOTE: APPLICATIONS ARE NOW CLOSED FOR SEPTEMBER 2017.

A one week executive education course taught by leading academics and practitioners.

The Short Course on Financial Services and Markets Regulation is a one week executive education course to run from 25-29 September 2017.

Course organiser: Jo Braithwaite, Law Department, LSE,  J.P.Braithwaite@lse.ac.uk.

Course administrator: Amanda Tinnams, Law Department, LSE A.Tinnams@lse.ac.uk.

Aims, target market, structure and timing

Aims

  • to take a critical and reflective stance on key issues and drivers of financial regulation;

  • to provide a contextual understanding of regulatory provisions and recent changes; and

  • to facilitate strategic decision making by financial institutions, legal advisors and regulators

Target market

  • those with experience in the markets who are moving into positions which require a greater familiarity with the key requirements of financial regulation, e.g. into significant influence functions or different areas of practice

  • regulators seeking the opportunity to gain a deeper evaluation of key issues

  • regulators and practitioners from outside the UK/EU seeking to understand the changes at the global level and in the EU & UK regulatory landscape

Structure and delivery

  • Five sessions per day of 60-75 minutes per session; sessions taught by leading academics and practitioners

Timing for each day

  • Each day will run from 9.30am–4.45pm

Topics

  • reforming global, national and EU structures of financial regulation in the wake of the crisis
  • financial stability and how to address the 'too big to fail, to interconnected to fail' problem
  • market transparency and the role of disclosure
  • derivatives trading
  • the role of gatekeepers
  • client protection including client money
  • financial crime
  • corporate governance of banks and the role of NEDs
  • risk management within financial institutions
  • the balance between the roles of governments and markets in regulating the financial system

Academic staff

Dr Jo Braithwaite is an Associate Professor in international commercial finance law, having joined the LSE in September 2008. She has a PhD from the University of London, a LLM degree from the University of Pennsylvania where she was a Thouron scholar and a BA(Hons) from the University of Oxford. She was awarded a Modern Law Review Scholarship during her PhD. Before undertaking her PhD, she qualified as a solicitor and practised in a City law firm. In previous teaching roles, she has taught debt finance, civil litigation, legal methods and writing and public law. Her current and ongoing research interests relate to the use of private law in the international markets, with a particular focus on the use of standard form contracts. Email: j.p.braithwaite@lse.ac.uk

Professor David Kershaw joined the LSE in 2006. Prior to joining the LSE he was a Lecturer in Law at the School of Law at the University of Warwick between 2003-2006. He qualified as a Solicitor at Herbert Smith and practiced corporate law with Wolf Theiss & Partners, Vienna and in the Mergers & Acquisitions Group of Shearman & Sterling in New York and London. He holds degrees from the University of Warwick and Harvard Law School.  He has written extensively on issues relating to corporate governance and takeovers, and his most recent book is Company Law in Context: Text and Materials (Oxford University Press, 2009).  Email: r.d.kershaw@lse.ac.uk

Dr Jo Eric Kushal Murkens studied English and European Law in London and Copenhagen, and wrote his PhD at the European Institute in Florence. Email: J.E.Murkens@lse.ac.uk

Dr David Murphy is founder and principal of rivast consulting, a leading financial risk management and regulatory consulting firm. He is the author of numerous articles on risk management, financial regulation and market infrastructure and has worked with central banks, investment banks and asset managers on derivatives, capital and market infrastructure issues. His most recent book, OTC Derivatives: Bilateral Trading and Central Clearing appeared from Palgrave Macmillan in 2013.

His prior roles include Global Head of Risk at ISDA, where he was responsible for all of ISDA’s activities relating to capital, risk management and accounting standards as well as leading ISDA’s research effort.

Before that, Dr. Murphy was the Chief Operating Officer at Merrill Lynch’s Reinsurance Group, and he has had held a number of other senior risk management roles in leading banks and broker/dealers.

Dr Philipp Paech joined the LSE in 2010 as an Assistant Professor of Financial Law and Financial Regulation, He is the Director of the LSE’s Law and Financial Markets Project and a research fellow at the Institute for Law and Finance in Frankfurt. Before joining the LSE, Philipp spent many years at the heart of international legal and regulatory reform of the financial sector, working from 2007-2010 or the European Commission’s directorate for financial services in Brussels and from 2002-2006 for UNIDROIT in Rome. Philipp holds a doctorate from the University of Bonn and obtained the Diploma of EU Studies from the University of Toulouse. He is a qualified lawyer admitted to the Bar of Frankfurt. 

Ms Sarah Paterson is an Assistant Professor of law at the LSE where she teaches and researches corporate insolvency and restructuring law. Before joining the LSE, Sarah was a partner in the Restructuring and Insolvency Group of Slaughter and May, with whom she retains a senior consultancy. She has written widely on the topic of financial distress, including the implications of increasing access to the high yield market by UK issuers for debt restructuring, the implications of changes in the finance market for debt restructuring theory, valuation in financial institution bail-in and developing cooperation between the finance industry and the state in modern markets. She is a member of the Council of the Insolvency Lawyers’ Association, the technical committee of the Insolvency Lawyers’ Association, Chair of the Insolvency Lawyers’ Association Insolvency & Restructuring Scholarship Committee and a member of the General Technical Committee of R3. Email: S.Paterson@lse.ac.uk

Professor Michael Power is Professor of Accounting and Research Theme Director of the ESRC Centre for the Analysis of Risk and Regulation (CARR) at the London School of Economics, where he has worked since 1987.  He is a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW) and an Associate member of the UK Chartered Institute of Taxation. He is a member of the risk management committee of the London School of Economics and, since May 2005, is a non-executive Director of St James’s Place plc where he is chair of the Risk Committee.  In 2009 he was awarded and honorary doctorate in Economics by the University of St Gallen, Switzerland.  Email: m.k.power@lse.ac.uk

Deborah A. Sabalot has advised a wide range of financial sector clients on UK and international banking and financial services regulatory and compliance issues. She was a co-opted member of the Securities and Futures Authority's Conduct of Business Sub-Committee from 1992 to 2001 and she is currently an adviser to the Electronic Money Association, a trade association representing the members of the e-money industry.

Deborah is also the consultant editor of the Butterworth’s Financial Services Law Handbook, the eighth edition of which was published in 2007 and she has contributed many articles and has spoken at a wide range of conferences in London and abroad. She advised Lords Sharman and Newby in relation to the passage of the Financial Services and Markets Act 2000 in the House of Lords. Deborah has served as a member of the Financial Services Authority's Working Party on Client Money and Assets and she has contributed to working groups of the Financial Markets Law Committee and its predecessor, the Financial Law Panel.

Deborah A. Sabalot Regulatory Consulting was founded in March 2005 to undertake independent legal and regulatory services. Prior to that, Deborah Sabalot was a partner of PwC Legal, the associated law firm of PricewaterhouseCoopers from 2002 to 2005. Previously she had held an “of counsel” role at Lovells from 2000 to 2002. Deborah was Director of Regulatory Services at KPMG from 1995 and was a senior lawyer in Clifford Chance's Financial Services Group from 1988 to 1995.  Email: dsabalot@netcomuk.co.uk

Watkin Samuel is a fifteen year post qualified solicitor specialising in financial services regulation and compliance. During this period he has held a variety of related roles at leading city institutions including Clifford Chance, NM Rothschild, Fidelity Investments, the Hypo Real Estate Group and Ares Management Limited. Product experience includes lending, investment banking, investment management (retail and alternative), private equity, multi product trading and money services business. He is currently Head of Compliance at Flagstone Investment Management.

For the past ten years Watkin has also lectured part-time at the London School of Economics and spoken at various industry conferences. In 2010 Watkin was nominated Compliance Officer of the Year and was Chair of the British Property Federation Regulatory Committee between 2012 and January 2014. In December 2014 Watkin was included in the FT’s Power Part Time 50 List and he is also a serving Magistrate on the Central Kent Bench.  Email wsamuel@aresmgt.com

Edmund-Philipp Schuster joined LSE in 2010 and is now an Assistant Professor. Prior to joining the Law Department, he practiced corporate law with Baker & McKenzie LLP in London and Vienna. From 2004 through 2009 he worked for the Austrian Takeover Commission, serving as head of office (2006-2008) and legal consultant (2008-2009). Edmund taught company and commercial law at the Vienna University of Economics and Business Administration and at the University of Applied Sciences bfi Vienna. He also worked as a company law expert on an EU project providing pre-accession technical assistance to the Republic of Albania. Edmund holds law degrees from the University of Vienna and the LSE. Email: e.schuster@lse.ac.uk

Dr Roel Theissen (1968) has worked in the area of banking supervision since 1997; first at the Dutch banking supervisor, then on secondment to CEBS (the Committee of European Banking Supervisors, which has since become the European Banking Authority). He has focused on regulation and policy development both domestically (in the Netherlands) and cross border (within the EU and in the Basel context). His investigation of banks and their functioning also led to work on cross-sectoral cooperation with insurance and securities supervisors. 

Since 2009 he has been lecturing and writing on prudential supervision in the financial sector. Apart from prudential supervision on banks in the EU, this relates to related areas including insurance supervision, the back office of trading venues, conduct of business policy, and the interaction between the EU, its member states and third countries. Main publications include a handbook on the content of prudential banking supervision (EU Banking Supervision), and an analysis of how to define and achieve the goals of banking supervision (Are EU Banks Safe?). Roel Theissen also provides consultancy services on prudential supervision. He can be reached at contact@prudentialsupervision.eu 

Location

The London School of Economics and Political Science is one of the major world centres for research and teaching in the social sciences. It has an outstanding reputation, not only in Economics, but also in all the social sciences and closely related subjects such as Government, History, Law and Philosophy. There is a constant interchange of ideas and knowledge between the School and the outside world, notably in relation to regulation.

The London School of Economics and Political Science is the only university in Britain to offer a multi-disciplinary Masters Degree in Regulation

The Short Course on Financial Services and Markets Regulation will be delivered at LSE, Houghton Street, London, WC2A 2AE, or at a nearby location.

Schedule

Day 1: Financial Regulation: Roles, Structures and Reforms (Monday 25 September 2017) 

  • Rethinking Financial Regulation

  • Regulatory Architecture – Global Financial Regulation

  • Financial Stability and the Post-crisis Financial System (1)

  • Financial Stability and the Post-crisis Financial System (2)

Day 2: Bank Governance, Prudential Regulation and Derivatives (Tuesday 26 September 2017)   

  •  Prudential Regulation of Banks (1)

  • Prudential Regulation of Banks (2)

  • Prudential Regulation of Insurance Companies

  • Banks Corporate Governance

  • Derivatives Fundamentals – Contracting, Function and Legal Risks

Day 3: Bank Resolution, Trading Venues and CCPs  (Wednesday 27 September 2017)        

  • Bank Resolution (1)

  • Bank Resolution (2)

  • Trading Venues

  • Managing Risk within Financial Institutions

  • Derivatives (2): Post-crisis Regulation

Day 4: Alternative Investment Funds; Regulating Market Participants Private Equity (Thursday 28 September 2017)  

  • Regulating alternative investment funds

  • Senior managers’ liability

  • Anti-money laundering

  • Insider trading and market abuse

Day 5: Regulation and compliance in the financial markets; new financial technology  (Friday 29 September 2017)  

  • Conduct of business rules

  • Client money

  • Brexit

  • Holding, clearing and settling securities through blockchain technology: lesson from bitcoin 

Fees and cancellation

Fees 

The tuition fees for the Short Course on Financial Services and Markets Regulation, not including accommodation, will be £2,500.00. This fee will include lunches and a drinks reception.

Payment must be paid in full at least five working days before the course commences.

Discount

If you register before 1st August 2017, an early booking discount will be offered and the course cost will be £2,250.

Cancellation policy

You may make a substitution, without charge, at any time before the start of the course but all cancellations must be confirmed in writing. Cancellations received more than four weeks prior to the start of the course are not subject to any penalty. Cancellation received after that time incur the following penalties: two to four weeks 50% of the course fee; less than two weeks 100% of the course fee. If written notification is not received and you do not attend, the full course fee will be retained as a cancellation charge.

Visas

For further information about obtaining the correct visa, see the LSE visa information pages or visit the UK Home Office website (https://www.gov.uk/check-uk-visa).

Disclaimer

If participant numbers are low the course may have to cancelled by 1st September 2017. Refunds for the course registration fee will be applicable only. We reserve the right to change the course presenters and order of events.

Please note that completing the registration form does not mean that your place on the course is confirmed. Your place on the course is only confirmed once full payment of the course fee has been received by LSE one week before the course start date. Places are limited, and are offered on a first come served basis.

Once full payment has been received, confirmation of your place on the course will be sent to you in writing by the LSE Course Administrator. Please do not attend the course until you have received confirmation from the LSE Course Administrator. Joining instructions will be sent to each participant one week before the start of the course. 

Accommodation

Participants are expected to make their own arrangements for accommodation. Rooms can, however, be reserved at one of our halls of residence on a first come first served basis.

For further information on accommodation please telephone: +44 (0)20 7955 7575

email: vacations@lse.ac.uk
http://www.lse.ac.uk/vacations

Alternatively, you may wish to consider a room at one of these nearby hotels:

The Grange Holborn Hotel (0.5 miles from LSE)
50-60 Southampton Row, London WC1B 4AR
http://www.grangehotels.com/hotels-london/grange-holborn/about-this-hotel/

Club Quarters (0.2 miles from LSE)
61 Lincoln's Inn Fields, London WC2A 3JW
http://clubquartershotels.com/london/lincolns-field-inn/

Kingsway Hotel (0.3 miles from LSE)
66 Great Queen Street, London WC2B 5BX
http://www.kingswayhall.co.uk

The Strand Palace Hotel (0.3 miles from LSE)
372 Strand, London WC2R 0JJ
http://www.strandpalacehotel.co.uk

Citadines Holborn-Covent Garden London (0.4 miles from LSE)
94-99 High Holborn, London WC1V 6LF
http://www.citadines.com/en/uk/london/holborn_covent_garden/apartment_types.html/

Goodenough Club (1.0 mile from LSE)
23 Mecklenburgh Square, London WC1N 2AD
http://club.goodenough.ac.uk/

Further information

For further information about this course, please contact the course administrator:

Mrs Amanda Tinnams

Email: A.Tinnams@lse.ac.uk

Closing date for applications is 11 September 2017.

Application form

Please complete the application form below and email to A.Tinnams@lse.ac.uk.

Application form [Word document]

Special requirements

Please notify Amanda Tinnams if you have a dietary requirement or if you have a disability.

Email: A.Tinnams@lse.ac.uk