Vienna Global regulations and compliance in trade. ICC Banking Commission Meeting. A leading event providing opinions, ideas, and insights

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1 ICC Banking Commission Meeting A leading event providing opinions, ideas, and insights Vienna 2013 Global regulations and compliance in trade Meeting of October 2013 Venue: Raiffeisen Bank International Am Stadtpark Vienna, Austria A meeting hosted by ICC Austria and Raiffeisen Bank International

2 A meeting hosted by ICC Austria and Raiffeisen Bank International Platinum Sponsor Silver Sponsor Bronze Sponsors Technology and Media Partners Institutional Partner 2 GLOBAL REGULATIONS AND COMPLIANCE IN TRADE VIENNA 2013

3 Welcome Message Dear Delegates, The ICC Banking Commission, in collaboration with ICC Austria, is delighted to invite you to our bi-annual meeting to be held in Vienna from October 2013 at the premises of our key sponsor, Raiffeisen Bank International. rules on letters of credit, the Uniform Customs and Practice for Documentary Credits (UCP) were to Vienna 80 years later to mark the anniversary of this historic accomplishment. The UCP remain to date, the most successful set of private rules for trade ever developed. The programme will offer a series of meetings and seminars that will bring together international experts at the top of their professions and close to 300 delegates around key topics impacting the Trade Finance industry. The plenary meeting programme will be an opportunity to discuss work-inprogress on many Banking Commission rules and projects such as the new Compliance Group and the new rule development initiative ICC Uniform Rules for International Factoring. In addition to the plenary meeting, ICC Austria will organize three additional high level conferences with renowned speakers from around the globe. The conferences will focus on three themes: Fraud in Trade Finance, Sanctions & Embargoes and Money Laundering in Trade Finance and Implementation of Basel II & III in Trade Finance Departments. Participants can not only expect insight and commentary on a wide range of issues impacting the platform to share their ideas and experiences with other professionals who have the same goal to develop and promote best practices and stimulate economic growth. Thank you for your participation and your continuous support to advance the mission of the ICC Banking Commission. Yours sincerely, Kah Chye Tan Chair of the ICC Banking Commission VIENNA 2013 GLOBAL REGULATIONS AND COMPLIANCE IN TRADE 3

4 Day 1 and 2 ICC Austria Conferences & Banking Commission Specialized Group Meetings Monday 21 October ICC Austria Conference I Fraud in Trade Finance Venue: Raiffeisen Bank International plenary room Banking Commission Specialized Group meetings Tuesday 22 October ICC Austria Conference II Sanctions & Embargoes, Money Laundering in Trade Finance Venue: Raiffeisen Bank International plenary room Banking Commission Specialized Group meetings Bank Payment Obligation: the new solution in supply chain finance to shape trade in the 21st century by the BPO Education Group Open to all participants (Room: Welle 1+2) A panel discussion led by Andre Casterman, Head of Corporate and Supply Chain Markets, SWIFT and co-chair of the BPO Working Group and Michael Quinn, Managing Director JP Morgan, co-chair of the BPO Education Group. By exploring the corporate and bank perspective, the discussion will provide valuable insight from the ICC URBPO Education Group, including a complete overview of this new payment facilitation to begin implementing BPO. 4 GLOBAL REGULATIONS AND COMPLIANCE IN TRADE VIENNA 2013

5 Day 3 ICC Banking Commission Plenary Venue: Raiffeisen Bank International plenary room Wednesday 23 October Registration Welcome address Maximilian Burger-Scheidlin, Executive Director, ICC Austria Kah Chye Tan, Chair, ICC Banking Commission Jean-Guy Carrier, Secretary General, International Chamber of Commerce, ICC Keynote speech Karl Sevelda An Update on the ICC Banking Commission strategy A discussion with the ICC Banking Commission Executive Committee co-led by Kah Chye Tan, Chair, ICC Banking Commission and Dan Taylor, Head, ICC Banking Commission Executive Committee Global Trade Finance Market Outlook Chair Kah Chye Tan, Chair, ICC Banking Commission Daniel Schmand, Advisory Board member, ICC Banking Commission, Head of Trade Finance & Cash Management Corporates EMEA, Deutsche Bank Georgina Baker, Advisory Board member, ICC Banking Commission and Director of Trade and Supply Chain, International Finance Corporation (IFC) John Ahearn, Advisory Board member, ICC Banking Commission and Managing Director, Global Head of Trade, Global Transaction Services, Treasury and Trade Solutions Group, Citibank Coffee Break The new regulatory environment economic environment is increasingly challenging. This session will examine key factors in the current market uncertainty under the complex regulatory framework. Moderator Thierry Sénéchal, Executive Secretary, ICC Banking Commission Henri d Ambrieres, HDA Conseil Hugo Verschoren, Senior Product Manager, Trade Finance Services, ING Kai Preugschat, Deputy Global Head Structured Trade & Export Finance, UniCredit Neil Chantry, Executive Committee member, ICC Banking Commission, Global Head of Policy and Compliance, Global Trade and Receivables Finance, HSBC Marc Auboin, Economic Counselor, World Trade Organization, (WTO) VIENNA 2013 GLOBAL REGULATIONS AND COMPLIANCE IN TRADE 5

6 Is there a need for standardization in Trade Finance? same products around the world. The purpose of this panel is to share information about current initiatives as well as their own experiences with standardization. Chair Rüdiger Geis, Executive Committee member, ICC Banking Commission, Senior Product Manager for trade related issues within Financial Institutions, Commerzbank John Ahearn, Advisory Board member, ICC Banking Commission, Managing Director, Global Head of Trade, Global Transaction Services, Treasury and Trade Solutions Group, Citibank John Taylor, International Director, Berwin Leighton Paisner LLP Neigel Houghton, Director, Loan Market Association Lunch hosted by Raiffeisen Bank International The new Banking Commission compliance group ICC Banking Commission Compliance Task Force was established to respond to the increasing institutions. This session will review the remit of the group with topics related to compliance issues Neil Chantry, Executive Committee member, ICC Banking Commission, and Global Head of Policy and Compliance, Global Trade and Receivables Finance, HSBC Sanctions and commercial crime ICC Commercial Crime Services (CCS) is the anti-crime arm of the International Chamber of Commerce. Pottengal Mukundan, Director of the CCS, will tackle in this session how sanctions persuade the banks to negotiate the documents. Pottengal Mukundan, Director, ICC Commercial Crime Services Root causes of illicit trade, fraud and money laundering frauds including the issue of synthetic letters of credit, how they are committed and the actions that can be taken to stop them. Chair Neil Chantry, Executive Committee member, ICC Banking Commission, and Global Head of Policy and Compliance, Global Trade and Receivables Finance, HSBC Maximilian Burger-Scheidlin, Executive Director, ICC Austria Pottengal Mukundan, Director, ICC Commercial Crime Services 6 GLOBAL REGULATIONS AND COMPLIANCE IN TRADE VIENNA 2013

7 Coffee Break Changing dynamics and new ways of thinking in both trade and commodity trade finance Jean-François Lambert, Managing Director, Global Head of Commodity and Structured Trade Finance, HSBC France Martina Zimmerl-Egger, Head of Soft Commodities, Raiffeisen Bank International John Turnbull, Joint General Manager, Sumitomo Mitsui Banking Corp, Europe Trade Facilitation & Trade Finance The Multilateral Development Banks and their partners have played a mission critical role in Moderator Vincent O Brien, Executive Committee member, ICC Banking Commission Stoyan Tenev, Manager Private Sector Evaluation, World Bank (WB) Bonnie Galat, Global Head of Trade and Supply Chain, International Finance Cooperation, (IFC) Gema Sacristan, Chief, Financial Markets Division, Inter-American Development Bank (IADB) Karin Oszuszky, Private Sector Operations, OPEC Fund for International Development (OFID) Marc Auboin, Economic Counselor, World Trade Organization, (WTO) Steven Beck, Advisory Board member, ICC Banking Commission, and Head Trade Finance, Asian Development Bank, (ADB) Rudolf Putz, Deputy Director, Financial Institutions, European Bank for Reconstruction and Development (EBRD) Gala Dinner: Celebrating 80 years of ICC UCP Rules hosted by Raiffeisen Bank International Venue: Palais Ferstel, Strauchgasse Vienna, Austria Transportation to be provided (meeting point: Raiffeisen Bank International lobby at 18.30) VIENNA 2013 GLOBAL REGULATIONS AND COMPLIANCE IN TRADE 7

8 Day 4 ICC Banking Commission Plenary Venue: Raiffeisen Bank International plenary room Thursday 24 October Welcome address Maximilian Burger-Scheidlin, Executive Director, ICC Austria Keynote speech Peter Lennkh, Member of Managing Board at Raiffeisen Bank International Knowledge products and services for Trade Finance: Steps towards an ICC Banking Commission Academy Moderator Thierry Sénéchal, Executive Secretary, ICC Banking Commission David Morrish Institute of Financial Services, (IFS) Derek Ennis, CEO, Coastline Solutions Kamola Makhmudova, Principal Banker, Financial lnstitutions, European Bank for Reconstruction and Development (EBRD) Endorsement of ICC Banking Rules by UNCITRAL Mr. Jae Sung Lee Coffee Break Updates on new ICC Banking Commission rules and guidelines A discussion on the progress of the ICC Banking rules and guidelines. a) ISBP Gary Collyer, CEO, Collyer Consulting LLP b) Forfaiting Rules Silja Calac Schneider, Chair, Task Force on Forfaiting, ICC Banking Commission, Head of Global Trade Risk Management, Unicredit c) URBPO Andre Casterman, co-chair of the BPO Working Group, ICC Banking Commission and Head of Corporate and Supply Chain Markets, SWIFT Michael Quinn, co-chair of the BPO Education Group, Managing Director, JP Morgan d) URDG Andrea Haupmann, Chair, Task Force on Guarantees, ICC Banking Commission, Senior Director, Head of Guarantees, Department Raiffeisen Bank International Update from the ICC Regional Banking Commission MENA region A discussion on the progress and future projects of the ICC Regional Banking Commission. Discussion Leader Vincent O Brien, Executive Committee member, ICC Banking Commission Kah Chye Tan, Chair, ICC Banking Commission Hassan Al Hashemi, External Relation, Dubai Chamber of Commerce and Industry, (DCCI) Lakshmanan Sankaran, DGM & Head of Operations & Trade Finance, Commercial Bank of Dubai, Head of Banking Commission and Board Member, ICC UAE, Chair, ICC Regional Banking Commission MENA Region 8 GLOBAL REGULATIONS AND COMPLIANCE IN TRADE VIENNA 2013

9 Lunch hosted by Raiffeisen Bank International Is there a need for uniform rules for international factoring? Representatives of Factors Chain International (FCI) together with ICC Banking Commission experts will examine the need for international standards in the factoring market and discuss the role for the ICC Banking Commission to harmonize international factoring practice. Discussion Leader Dan Taylor, Head, Executive Committee, ICC Banking Commission, Managing Director, Global Market Infrastructure, J.P. Morgan Peter Mulroy, Secretary General, Factors Chain International (FCI) Marco Loni, Chairman, Legal Committee, Factors Chain International (FCI) Vijay Vashist, Executive Committee member, ICC Banking Commission, Global Head of Trade & Supply Chain Finance and Trade Asset Management in Global Transaction Services, DBS Bank Harvey Guberman, General Counsel, Factoring Unit of CIT Group and Bank of America and member of Ballon Stoll Bader & Naler, P.C Update on the ICC DOCDEX revision the leading dispute resolution mechanism for trade finance Georges Affaki, Chair of the ICC DOCDEX Revision Group, ICC Banking Commission, Member of the Executive Committee and Global Coordinator for Corporate Banking, CIB Legal, BNP Paribas Coffee Break Draft Official Opinions of the Banking Commission and latest DOCDEX Decisions Opinions (Document no. 470/1226 Consolidated Draft Opinions) ICC Banking Commission Prize Draw (see below) Closing of ICC Banking Commission Plenary ICC Banking Commission Prize Draw ipad Mini Sponsored by BCR Samsung Galaxy S4 Sponsored by China Systems Corporation ipad Mini Sponsored by BFC Consulting Samsung Galaxy Tab Sponsored by Coastline Solutions VIENNA 2013 GLOBAL REGULATIONS AND COMPLIANCE IN TRADE 9

10 Day 5 ICC Austria Conference Friday 25 October ICC Austria Conference III Implementation of Basel II & III in Trade Finance Departments Venue: Raiffeisen Bank International plenary room 10 GLOBAL REGULATIONS AND COMPLIANCE IN TRADE VIENNA 2013

11 Banking Commission Specialized Groups Venue: Raiffeisen Bank International working rooms programmed events. Monday 21 October Meeting Rooms Banking Commission Technical Advisors meeting 2 David Meynell, Donald Smith, Nicole Keller Compliance Group 2 Neil Chantry, Chair Task Force on Guarantees 2 Andrea Hauptmann, Chair Finance Committee 3 Kah Chye Tan, Chair, ICC Banking Commission Banking Commission Executive Committee 3 Dan Taylor, Head, ICC Banking Commission, Executive Committee Tuesday 22 October Trade Finance Market Intelligence Group 2 Vincent O Brien, Chair Bank Payment Obligation (BPO) Working Group 3 Dan Taylor and Andre Casterman, co-chairs Legal Committee 1 Georges Affaki, Chair Task Force on Forfaiting 2 Silja Calac Schneider, Chair ICC Trade Register on Trade & Finance short term 2 Ashutosh Kumar, Chair DOCDEX Revision 3 Georges Affaki, Chair ICC Trade Register on Trade & Finance medium/long term 2 Kai Preugschat and Henry d Ambrieres, co-chairs ICC Banking Commission Advisory Board 3 Kah Chye Tan, Chair Wednesday 23 October ICC Banking Commission National Committee Forum 2 Kah Chye Tan, Chair, ICC Banking Commission VIENNA 2013 GLOBAL REGULATIONS AND COMPLIANCE IN TRADE 11

12 The world s essential rule-making body for the banking industry With 80 years of experience and more than 600 members in +100 countries, the ICC Banking Commission the largest Commission of ICC, the world business organisation has rightly gained a reputation as the most Rules ICC Banking Commission produces universally accepted rules and guidelines for international banking practice. ICC rules on documentary credits, UCP 600, are the most successful privately drafted rules for trade ever developed, serving as the basis of USD2 trillion trade transactions a year. Policy-making ICC Banking Commission is helping policy makers and standard setters to translate their vision into concrete programmes and regulations to enhance business practices throughout the world. Publications and market intelligence experts worldwide, ICC Banking Commission publications and market intelligence is the industry s most reputable and reliable source of guidance to Dispute resolution The ICC Banking Commission and ICC International Centre for Expertise administer the ICC Rules for Documentary Instruments Dispute Resolution Expertise (DOCDEX) to facilitate the rapid settlement of disputes arising in banking. Education and certification Over ten thousand people in over 100 countries Specialized trainings and events In addition to its bi-annual summit gathering +300 international delegates every six months, the ICC Banking Commission organizes regular seminars and conferences around the world, in partnerships with ICC National Committees and other sponsors. Strategic partnerships Well-established collaboration with leading policy makers and trade association, including WTO (World Trade Organization), ADB (Asian Development Bank), Berne Union, EBRD (European Bank for Reconstruction and Development), IDB (Inter- American Development Bank), IFC (International Finance Corporation), IMF (International Monetary Fund), SWIFT, the World Bank and others avenue du Président Wilson, Paris, France Telephone: +33 (0) Fax: +33 (0) icc@iccwbo.org Website: