IIF GLOBAL SEMINAR GOVERNING CONDUCT AND REPUTATION IN GLOBAL MARKETS. December 6-7, 2016 New York, NY IN COOPERATION WITH

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1 IIF GLOBAL SEMINAR GOVERNING CONDUCT AND REPUTATION IN GLOBAL MARKETS December 6-7, 2016 New York, NY IN COOPERATION WITH

2 COURSE DESCRIPTION IIF GLOBAL SEMINAR Governing Conduct and Reputation in Global Markets This two-day global seminar will focus on critical trends related to wholesale conduct and reputation and their impacts on global financial markets. Important themes such as integrity of the financial system and the development of global codes of conduct will be discussed. Attendees will be better prepared to implement global and local regulatory developments and set appropriate practical governance arrangements. Participants will consider risks to market integrity, controlling market abuse, and wholesale product design and development. This timely dialogue will conclude with a roundtable on emerging issues and challenges relating to conduct in financial markets. Supported by practical examples and case studies from globally active firms, this seminar will provide participants with a unique and intimate forum to compare and benchmark market conduct practices. Attendees will additionally benefit from interacting and networking with expert practitioners, speakers, and panelists from around the world. LEARNING OBJECTIVES Share emerging market risk mitigation approaches Prepare for international policy and global regulatory developments Consider voluntary codes of conduct Discuss the governance arrangement and controls to assess behavior and culture Consider important emerging market conduct issues and challenges Exchange sound practices with global peers PLEASE JOIN US IN NEW YORK TO TAKE ADVANTAGE OF THIS UNIQUE OPPORTUNITY IDEAL FOR PROFESSIONALS IN Strategy and planning Markets Risk management Responsible business Public affairs Corporate conduct, culture and governance Ethics, integrity REGISTER AT IIF.COM/TRAINING Registration is open up to one week prior to program start date or until capacity is reached. Capacity limitations may force some programs to close registration early. SEMINAR FACTS Date: December 6-7, 2016 Location: New York, NY Venue: New York offices of Promontory Financial Group CPD/CE: 10 hours Program Fee: - Member Firm $2000 (USD) - Non-Member Firm $3000 (USD) This training course will be eligible for CPD/CE credits through the Chartered Institute for Securities & Investment (CISI), the Chartered Banker Institute, the CFA Institute, the Global Association of Risk Professionals (GARP), and the International Compliance Association (ICA). 2 GOVERNING CONDUCT AND REPUTATION IN GLOBAL MARKETS

3 TUESDAY DECEMBER 6 8:30 am 9:00 am REGISTRATION 9:00 am 9:30 am WELCOME AND INTRODUCTION Kate Hudson, Director of Global Seminars, IIF 9:30 am 10:30 am SESSION 1: ONGOING CONDUCT AND REPUTATION MISSTEPS Where are we now? Why do conduct problems persist? Group discussion Emma Bredin, Global Head of Conduct and Emerging Risk, Citi 10:30 am 11:00 am COFFEE BREAK 11:00 am 1:00 pm SESSION 2: INTERNATIONAL POLICY, GLOBAL REGULATORY UPDATES AND SUPERVISORY INSIGHTS International and local market conduct legislation and regulation; Overview of policy initiatives in train; Industry standards including codes of conduct (e.g. FSB, BIS); Supervisory perspectives Susan Krause Bell, Managing Director, Promontory Financial Group Nancy Doyle, Senior Special Counsel, Office of International Affairs, U.S. Commodity Futures Trading Commission (CFTC) 1:00 pm 2:00 pm NETWORKING LUNCH 2:00 pm 3:30 pm SESSION 3: APPROPRIATE GOVERNANCE FRAMEWORKS Role of Board; Roles and responsibilities across organization; Demonstrating individual accountability; Ensuring sustainability of culture Georges Ugeux, Chairman & CEO, Galileo Global Advisors Clare Woodman, Global Chief Operating Officer, Morgan Stanley s Institutional Securities Group 3:30 pm 4:00 pm COFFEE BREAK 3 4:00 pm 5:00 pm SESSION 4: PRACTICAL ARRANGEMENTS FOR INFLUENCING CULTURE AND MANAGING CONDUCT RISKS Embedding corporate values; Conduct and culture measurement and indicators; Product design and approval; Compensation and talent management Elizabeth (Jan) Ford, Head of Compliance, Americas, Deutsche Bank Georges Ugeux, Chairman & CEO, Galileo Global Advisors 5:00 pm 6:30 pm DRINKS AND NETWORKING RECEPTION GOVERNING CONDUCT AND REPUTATION IN GLOBAL MARKETS 3

4 WEDNESDAY DECEMBER 7 9:00 am 10:15 am SESSION 5: VOLUNTARY CODES OF CONDUCT Achieving adherence; Regulatory expectations; Group discussion: BIS FX Global Code; Group discussion: The implementation of the Treasury Market Practices Group Best Practices Doug Harris, Managing Director, Promontory Financial Group Mark Yallop, Chair of the FICC Markets Standards Board (FMSB) 10:15 am 10:45 am COFFEE BREAK 10:45 am 12:00 pm SESSION 6: SURVEILLING FOR MARKET ABUSE RISK AT INDUSTRY LEVEL AND WITHIN GLOBALLY ACTIVE FIRMS Assessing the risks and resource allocation; Rogue traders/rogue cultures; Data and analytics used in analysis; Algo/E-trading Thomas Gira, Executive Vice President of Market Regulation, Financial Industry Regulatory Authority (FINRA) Matthew Hunter, Deputy Director, Division of Market Oversight, U.S. Commodity Futures Trading Commission (CFTC) Moderated by Tony Murphy, Managing Director, Promontory Financial Group 12:00 pm 1:00 pm LUNCH 1:00 pm 2:30 pm SESSION 7: EMERGING ISSUES AND CHALLENGES Facilitating direct customer access to markets: monitoring behavior; Dark pools: sponsor conduct and risks to customers; Roundtable discussion future views 2:30 pm 2:45 pm CONCLUDING REMARKS 4 GOVERNING CONDUCT AND REPUTATION IN GLOBAL MARKETS

5 SPEAKER PROFILES Kate Hudson, Director, Global Seminars, Institute of International Finance Kate is the Director of IIF s Global Seminars team, and previously a Policy Adviser for IIF s Regulatory Affairs team. Prior, she was a senior manager at the RBS Group Holding Company and a member of the BBA s Committee for Financial Inclusion. There she authored eleven new conduct risk policies (including the UK s first ever corporate policy on dealing with customers in vulnerable situations ); and oversaw their implementation and training in their businesses (Coutts, Natwest, Citizens, M&IB etc). Contracting for ComPeer Ltd, on their project board she quantified the costs of compliance in the UK s wealth management industry. Serving the UK s WMA as Senior Policy Advisor, present on their Board she helped to secure their first early day motion in Parliament. Prior, a compliance planning officer for MMC, and here nominated a Future City Leader by the City of London Mayor s office. A compliance manager for ACE Ltd, and a conduct policy development executive for BUPA Group- and then member of UK s ILAG Regulatory Committee. Kate is a Mediator (DC Superior Court) and holds a Postgraduate Diploma in MSc Financial Regulation and Compliance Management at London Metropolitan University, and a L.L.B. in European Legal Studies from the University of Westminster. She is also fluent in Spanish. Susan Krause Bell, Managing Director, Promontory Financial Group Susan Krause Bell is a Managing Director at Promontory Financial Group. She advises clients on new and ongoing regulatory and supervisory issues, such as the Dodd-Frank Act and Basel and Financial Stability Board issuances, and ongoing supervisory priorities, including capital, enterprise risk management, risk culture and corporate governance. She has worked extensively on financial stability issues, including advising nonbank financial institutions that are under consideration by FSOC for designation as systemically important. Prior to joining Promontory, Susan worked for 20 years at the Office of the Comptroller of the Currency, where she served as senior deputy comptroller for international affairs, senior deputy comptroller for bank supervision policy, and deputy comptroller for economic analysis and strategic planning. She was a member of the Basel Committee on Banking Supervision, as well as chair of the Federal Financial Institutions Examination Council s Supervision Task Force, which coordinated supervisory policies among the U.S. banking agencies. Susan has a Ph.D. in economics from the University of Southern California and a B.A. in mathematics from UCLA. Clare Woodman, Global Chief Operating Officer, Morgan Stanley s Institutional Securities Group Clare Woodman is Global Chief Operating Officer for Morgan Stanley s Institutional Securities Group and a member of both the global operating and management committees. In addition to this, she is a Trustee of the Morgan Stanley International Foundation, the firm s philanthropic arm and is an active Sponsor of the firm s Womens Business Alliance, championing many initiatives to recruit, retain and develop diverse talent. Clare is also a member of the Institutional Securities Global Diversity Council. Clare joined Morgan Stanley in 2002 as a lawyer specialising in banking and derivatives for Global Capital Markets and Investment Banking in EMEA. She was previously a lawyer with Clifford Chance in London and New York between 1993 and 2000 & studied at the London Business School where she obtained her MBA. Clare is a Non-Executive Director of Euroclear, The Banking Standards Board, TheCityUK, the Global Financial Markets Association and the Association for Financial Markets in Europe, and is a member of the Worshipful Company of International Bankers. GOVERNING CONDUCT AND REPUTATION IN GLOBAL MARKETS 5

6 SPEAKER PROFILES Georges Ugeux, Chairman & CEO, Galileo Global Advisors In 2003, Georges Ugeux founded Galileo Global Advisors LLC to offer CEOs, Boards of Directors and Governments independent advice on international business development, restructuring, compliance and capital market issues. Mr. Ugeux is Lecturer in Law at Columbia Law School, where he teaches International Banking and Finance. Prior to founding Galileo, Mr. Ugeux joined the New York Stock Exchange (NYSE) in September 1996, as Group Executive Vice President, International & Research. He built and managed the NYSE s International Group. Mr. Ugeux, a 71-year old Belgian and US national, began his career in 1970 at Société Générale de Banque in Brussels. He moved to London in 1985, as Managing Director of Morgan Stanley s Mergers and Acquisitions department. In 1988, he was appointed Group Finance Director of Société Générale de Belgique, the leading Belgian industrial and financial conglomerate owned by Engie. In 1992, he became President and Managing Director of Kidder, Peabody & Co, Europe. Georges Ugeux served as President of the European Investment Fund (EIF). Mr. Ugeux is a director of AXA Tian Ping Property & Casualty, a joint venture insurance company in Shanghai. He is a Director of Avant Corporation, a Japanese business solution company. Elizabeth (Jan) Ford, Head of Compliance, Americas, Deutsche Bank Jan Ford is a Managing Director and Head of Compliance in the Americas. She is a member of the Global Compliance Executive Committee, the Americas Regional Governance Board, the North America Executive Committee and the US Management Risk Committee. Prior to joining Deutsche Bank in 2015, Jan spent 25 years at Goldman, Sachs & Co. She started in the Investment Banking Division, then co-headed Investment Banking Division Legal in the Americas and finally became Cochief Compliance Officer of Goldman, Sachs & Co., heading Compliance globally for the Investment Banking Division, Merchant Banking Division and Executive Office, as well overseeing Control Compliance. Prior to Goldman, Sachs & Co., Jan was a lawyer at Sullivan & Cromwell. Jan earned a BA from Yale College, an MBA from the Johnson Graduate School of Management at Cornell University and a JD from Cornell Law School. Mark Yallop, Chair, FICC Markets Standards Board (FMSB) Mark Yallop is the Chair of the FICC Markets Standards Board (FMSB) and as well as an external member of the Prudential Regulation Authority (PRA) Board. Mark was UK Group CEO for UBS from Prior to this he was Group COO for ICAP plc from and spent 20 years at Deutsche Bank from where he was instrumental in building their investment banking business and served as Group COO from He has been a member of numerous financial services industry bodies. 6 GOVERNING CONDUCT AND REPUTATION IN GLOBAL MARKETS

7 SPEAKER PROFILES Thomas Gira, Executive Vice President of Market Regulation, Financial Industry Regulatory Authority (FINRA) Thomas Gira is the Executive Vice President of Market Regulation, which provides regulatory services to NASDAQ s family of U.S. markets, The New York Stock Exchange's family of U.S. markets, the Chicago Board Options Exchange s markets, the International Securities Exchange, and the BATS family of U.S. markets. Market Regulation also regulates Trade Reporting Facilities, FINRA s Alternative Display Facility, the over-the-counter market, and corporate and municipal bonds. By combining FINRA s trading data with data from its client exchanges, Market Regulation conducts comprehensive cross market equity surveillance for U.S.-listed equities and options markets. Market Regulation conducts surveillance for, among other things, manipulative trading algorithms, best execution, trade reporting, order exposure rules for options, OATS, Regulation NMS, short sales, fixed income pricing, Regulation M, and order handling. Before joining FINRA in 1997, Mr. Gira was an Associate General Counsel of The NASDAQ Stock Market, Inc. Prior to that, he was Branch Chief for Options and Derivative Products Regulation within the Division of Market Regulation at the SEC. Mr. Gira is a graduate of Wake Forest University, where he received a bachelor s degree in economics. He received his law degree from the University of Maryland. Tony Murphy, Managing Director, Promontory Financial Group Tony Murphy joined Promontory Financial Group in 2012 as a managing director specializing in risk management and strategy. He has a particular interest in financial-market structure and market integrity and has been a leader in developing Promontory s capabilities in financial benchmarks and market surveillance. Before joining Promontory, Tony spent 20 years in a broad variety of senior executive roles at HSBC. He most recently served as chief executive officer of global banking and markets for the Americas. He previously worked as the firm s head of strategic implementation for North America, where he was responsible for developing and implementing the strategic repositioning of the firm s banking and consumer-finance businesses. Earlier in his career at HSBC, Tony held positions as CEO of the U.S. securities subsidiary, including the U.S. Treasury primary dealer, and as head of market risk management in Europe and the U.S. He also served on the management committee at Bridgewater Associates. Earlier in his career, he worked at Towers Watson and Nomura. Tony holds two B.A. degrees, in mathematics and physics, from Trinity College Dublin, and a Ph.D. in theoretical physics from Oxford University. He is a fellow of the U.K. Institute and Faculty of Actuaries. GOVERNING CONDUCT AND REPUTATION IN GLOBAL MARKETS 7

8 SPEAKER PROFILES Matthew Hunter, Deputy Director, Division of Market Oversight, U.S. Commodity Futures Trading Commission (CFTC) Matthew Hunter began his professional career in the mid 1970 s by working in a precious metals bullion coin vault delivering coins to customers and keeping inventory. After rising from a vault clerk to a coin trader he ultimately became the firm s chief dealer of precious metals and foreign exchange. Throughout his trading career, Mr. Hunter aided customers and initiated house proprietary goals while working in a Wall Street environment. He built and led trading desks in precious metals, platinum group metals, foreign exchange, power and energy using physical commodities, futures and other financial derivative products, including options and highly structured deals to manage and to accept risk. In 2004, Mr. Hunter joined the Federal Energy Regulatory Commission as a trading and energy trading subject matter expert. As the Senior Market Advisor in the Office of Enforcement within the Division of Energy Market Oversight he has led or guided analysis of markets to understand their fundamental drivers and to uncover manipulation. Further, he has trained staff in support of the Division of Enforcement s efforts to prosecute manipulations in power and natural gas markets while leading analysis efforts. In his years with the FERC, he has guided initiatives in surveillance, portfolio and trade behavior analysis and market oversight. Mr. Hunter contributed regularly to the staff s understanding of the complex interactions within markets between physical and financial products. Mr. Hunter joined the Commodity Futures Trading Commission in October of 2011 in the Division of Market Oversight as a Deputy Director responsible for market surveillance. In this role, Mr. Hunter has instituted new processes, procedures and stimulated innovation in analytic tool development to foster compliance, detect and deter manipulation and protect the integrity of all jurisdictional products and markets. 8 GOVERNING CONDUCT AND REPUTATION IN GLOBAL MARKETS

9 Accredited training on key topics in global finance