Regulatory Reform Summit 2011

8:00am - 8:30am

Registration

Empire Ballroom Foyer, Ballroom Level  

8:30am - 8:45am

Welcome & Opening Comments

Empire Ballroom III / IV, Ballroom Level 

T. Timothy Ryan Jr.
President & CEO
SIFMA 

8:45am - 9:15am

General Session

Co-Hosted by Davis Polk & Wardwell LLP & MarketAxess 

Guest Speaker

Lawrence Kudlow 
Economist and Host of CNBC's "The Kudlow Report"
 

Introduction by:

George Harrington
Global Head
Bloomberg Fixed-Income Trading 

9:15am - 10:15am

Systemic Risk Regulation and Capital Requirement Perspectives

We will start our panel discussions for the day by exploring what the supervisors have done or are about to do to implement Dodd Frank's macro prudential provisions. The panel will further examine both the cost and effectiveness of such provision in mitigating systemic risk. An esteemed group of panelists will share their views on individual provisions, the cohesiveness of the overall approach, how the US solution juxtaposes with global developments and much more. We expect the panel will be interactive and fast moving and questions from the audience will be encouraged.  

Moderator:
 

Margaret E. Tahyar
Partner 
Davis Polk & Wardwell LLP 

Panelists: 

 John C. Dugan
Partner, Chair – Financial Institutions Group
Covington & Burling LLP
Former Comptroller of the Currency  

 Wilson Ervin
Senior Advisor to the CEO
Credit Suisse  

 Steven Strongin
Global Head of Investment Research
Goldman Sachs  

James R. Wigand
Director, Office of Complex Financial Institutions
FDIC  

10:15am - 10:30am

Break

Empire Ballroom Foyer, Ballroom Level 

Hosted by Thomson Reuters Accelus 

10:30am- 11:30am

Dodd-Frank's Impact on the Individual Investor

Individual investors may be directly affected by certain Dodd-Frank Act provisions, including Section 913 regarding fiduciary responsibility. This panel of experts will discuss their ideas on how to implement the rules in a manner that preserves investor service and choice.  

Moderator: 
 

Michael Santoli
Associate Editor
Barron's  

 Panelists: 
 

Charles D. Johnston
Vice Chairman
Morgan Stanley Smith Barney  

Ronald J. Kruszewski
Chairman and CEO
Stifel, Nicolaus & Company, Inc. 

 Kathleen Murphy
President, Personal Investing
Fidelity Investments  

 John G. Taft
CEO
RBC Wealth Management-U.S.  

11:30 am – 12:15 pm

Implications for Consumers

Dodd-Frank stands to profoundly affect not only banks and financial market institutions, but also the consumers of financial products such as mortgages, auto loans, and credit cards. Several areas of current rulemaking including risk retention, GSE reform, QRM, credit ratings and debit interchange, as well as future CPFB rules, will dramatically change the way the industry operates and the pricing and availability of products to consumers. Our panel of experts will analyze the potential effects of these provisions and what they are likely to mean for the securitization market and consumers moving forward.

Moderator:

Tom Braithwaite
Business and Politics Correspondent
Financial Times
 

Panelists: 
 

 Michael S. Barr
Professor of Law
University of Michigan Law School
Former Assistant Secretary for Financial Institutions
U.S. Dept. of Treasury 

John Carey
CAO North American Consumer Banking
Citigroup 

Edward Pinto
Resident Fellow
AEI 

 Mark Zandi
Chief Economist
Moody's Analytics 

12:15pm – 1:30pm

Lunch 

Empire Ballroom I / II, Ballroom Level 

Hosted by Tradeweb 

 Evan Thomas
Ferris Professor of Journalism
Princeton University
Former Editor-at-Large
Newsweek 

1:30pm – 2:30pm

OTC Derivatives: A New Paradigm

It is clear that Title VII regulations will drastically alter the way the OTC derivatives markets operate and require changes to almost every aspect of the business. This panel will discuss how rulemaking has impacted both buy-side and sell-side firms and the trading networks they utilize including how the introduction of clearing, trading and reporting requirements, among others, will impact this global market segment going forward. 

 Moderator:
 

Don Thompson
Managing Director & Associate General Counsel
JPMorgan Chase & Co.  

Panelists: 

Thomas Levy 

Managing Director, Head of Marketing, OTC Clearing 

Morgan Stanley   

 Lee Olesky
CEO, Co-Founder
Tradeweb  

William Thum
Principal - Legal Department 
Vanguard  

 Luke Zubrod
Government & Regulatory Advisory
Chatham Financial 

2:30pm – 2:45pm

Break

Empire Ballroom Foyer, Ballroom Level 

2:45pm – 3:15pm

Special Guest Speaker

Mary J. Miller    

Assistant Secretary for Financial Markets  

United States Department of the Treasury  

3:15pm – 4:15pm

Global Business Model and Strategy Impact

One year in, Dodd-Frank regulation has already drastically impacted the business models and strategies of financial institutions, both home and abroad. In order to remain competitive in this volatile landscape, it will be critical for businesses to adapt quickly to the ongoing changes from regulatory reform. In this session, our panel of senior business leaders and strategists will discuss how regulatory reform is reshaping the way companies conduct their global operations, how it will alter their allocation of capital and resources and where they see the industry headed in these unprecedented times. 

Moderator:
 

Michael Wagner
Partner
Oliver Wyman  

Panelists: 

 Toos N. Daruvala 
Director, Banking and Securities 

McKinsey & Company, Inc. 

 Thomas P. Gibbons
Vice Chairman and CFO
BNY Mellon  

 Donna M. Milrod 
Managing Director and Deputy Chief Executive Officer 
Deutsche Bank Americas  

Jerry del  Missier 
Co-Chief Executive
Barclays Capital
Co-Chief Executive
Corporate and Investment Banking  

4:15pm - 5:00pm

Outlook for the Financial Sector

As business leaders adjust their business models in concert with financial reform, markets need to digest and evaluate the long term impact on their financial performance and competitiveness. In this session, our panel of seasoned experts will provide an analysis of the overall impact of regulatory reform and policy initiatives to date, competitive advantages and disadvantages for different segments and what they see as the lasting impact on the industry.  

Jason M. Goldberg
Managing Director, Equity Research 

Large Cap/Mid-Cap Banks 
Barclays Capital 

Guy Moszkowski
Managing Director, US Equity Research
Bank of America-Merrill Lynch  

 Jaret Seiberg
Financial Services Policy Analyst, Senior Vice President
Washington Research Group, MF Global