Banking Litigation & Regulation Forum

Banking Litigation & Regulation Forum 2017
Conference Programme
Thursday 15th June | Hilton, London Bankside 

08:00 - 09:00

09:00 - 09:10
Welcome from the co-chairs
Deborah Finkler, partner, Slaughter and May
Edward Sparrow, partner, Ashurst

09:10 - 09:40
Keynote address: FCA Investigations – the evolving approach
Jamie Symington, director of investigations, Financial Conduct Authority (FCA)

09:40 - 10:30
Brexit – the ramifications on enforcement of judgements in Europe and beyond
Whatever form Brexit takes, businesses should not adopt a "sit and wait" approach. Throughout this lengthy period of negotiations, businesses must be proactive in mitigating Brexit-related risk, particularly when it comes to cross-border commercial disputes. During this next panel we will assess the immediate and long term impact of Brexit on enforcement of judgements in the UK & EU and discuss the potential for new or customised regulation, changing behaviours from litigants and the future of UK and International Courts.
Professor Jonathan Harris QC (Hon.), Serle Court, UK
Alexander Layton QC, 20 Essex Street

10:30 - 11:20
England vs. the rest of the world – cases and experiences from the commercial and financial courts
For the next hour our panel of experts will discuss how London has established itself as a leading centre for litigation over the past year. We will take a look as some of the biggest cases to identify key learnings and beneficial outcomes of each.
Moderator: Jonathan Kelly, partner, Cleary Gottlieb Steen & Hamilton
Natasha Harrison, managing partner, Boies Schiller Flexner
Philip Linton, senior counsel, litigation, Goldman Sachs
David Wolfson QC, barrister, One Essex Court

1. PAG v RBS
PAG v RBS was the first major Libor manipulation challenge to hit the High Court and arguably the most significant judgement yet delivered by the Financial List. Today we will talk through the decisions and the direct impact on financial institutions and their practice as a result.
2. Taberna v Selskabet
The Taberna case raises a number of important issues regarding claims for misrepresentation by secondary market purchasers. Here we will use this example to explore whether buyers can really rely on the representations at the time of the issue before looking into strategies which can be employed to safeguard your company from significant loss.
3. Deutsche Fine
As a result of their inadequate Anti Money Laundering (AML) Framework, Deutsche Bank exposed itself, and the UK to the risk of significant financial crime. It was a poignant case for the Financial Services market in showcasing how poor internal systems can result in huge consequences for the organisation. So how can we better protect our companies both on home ground and in foreign territory?

11:20 - 11:45
Networking & refreshment break

11:45 - 12:45
Breakout sessions
Facilitated by our industry experts, the following roundtable discussions will run under Chatham House Rule. 

A) Data Protection – GDPR Is coming
It’s been a long time coming, but the wording of the new EU data protection framework, the General Data Protection Regulation (GDPR), is finally settled. With onerous obligations and swingeing fines for non-compliance, preparations for implementing the new Regulation have already begun. Today, companies are considering what obligations will apply to their organisations and how they can close the gap between their existing compliance regimes and the higher GDPR standards by the deadline of May 2018. Join us as we explore these questions and more in this interactive discussion.
Ruth Boardman, partner, Bird & Bird
Cameron Craig, deputy general counsel, group head of data privacy, group legal, HSBC
Rosemary Jay, senior consultant attorney, Hunton & Williams

B) Fintech Firms – Small fish in a big pond
FinTech is transforming the financial services industry on a scale and at a speed we’ve never seen before. New start-up companies are challenging traditional banking institutions and their existing solutions with newer, faster and more agile products and services. But as the sector grows, so too do the challenges regarding the role of compliance. Is current regulation equipped to deal with FinTech’s newly formed dynamic? What are the areas of danger and how does regulation have to adapt to deal with the challenges this new industry poses? Join this session for an insight into how FinTech firms manage the headache of complying with new and untested regulations and existing rules that may not have been designed to fit their business models.
Dean Nash, head of legal & compliance, Monzo Bank
Angus McLean, partner, intellectual property, Simmons & Simmons

C) Maintaining legal privilege in business operations and investigations – strategy Management
Recognising the risks whilst preserving credibility and ensuring consistency are key in to ensuring that appropriate communications remain covered by privilege in the course of an investigation – not just as where the authorities are concerned, but in relation to the the third party claimants who now follow any finding of misconduct as night follows day, in the UK and elsewhere, including the US. For the next hour, our esteemed speakers will address the practical ramifications of a failure to maintain confidentiality over communications during an investigation and look at the ways in which businesses should re-assess their systems and controls to ensure information remains appropriately protected.
Jake McQuitty, partner, TLT Solicitors
Tom Spender, general counsel, litigation, regulatory and competition, Lloyds Banking Group

12:45 - 13:45
Networking lunch break

13:45 - 14:45
Breakout sessions
Facilitated by our industry experts, the following roundtable discussions will run under Chatham House Rule. 

A) Group Litigation & Class Actions
There has been a significant rise in the number, and level of complexity of class action claims in recent years. The use of group litigation has become far more common in the UK and this trend is set to continue. Today we will explore each of the stages involved in pursuing a group or class action as well as take a detailed look at the various options for funding such a case.
Christopher Robinson, partner, Freshfields Bruckhaus Deringer

B) Financial Crime – an ongoing battle
The UK’s financial services sector faces a unique set of challenges when it comes to tackling financial crime. Recent cases from the past year have shown us that there is still a hotbed of criminal activity ongoing in the UK and regulators are increasingly focusing not only on whether processes are followed, but also on the quality of judgements. So when it comes to your firm’s financial crime priorities for the year ahead what activities are at the top of your board’s agenda? Attend this practical workshop for strategic advice on how to ensure you are complying with regulations set by the FCA as well as a high-level update on the current trends, challenges and future boundaries for prosecution.
Louise Hodges, partner, Kingsley Napley
Claire Lipworth, partner, financial services litigation, Hogan Lovells
Steve Smith, head of financial crime, wealth & investments, Barclays UK

C) The impact of the Senior Managers Regime on investigations and enforcement
The Senior Managers Regime has heralded a new approach to Investigations and Enforcement at the FCA. It has ignited an even greater focus on individual conduct across the board and is set to be a firm focus of the FCA for many years to come. In this session we will consider the practical impact of this on firms under investigation and whether the real focus is on Senior Managers or whether, in reality, it is on more investigations into individuals. Areas to be covered will include; accountability for all levels, obligations of firms and their employees, strategic planning for engagement with the FCA and more.
Peter Bibby, partner, Brown Rudnick

14:45 - 15:00 
Networking & refreshment break 

15:00 - 15:50

Deferred Prosecution Agreements – from decision through to execution
For the next hour our esteemed panellists will discuss the mechanics of Deferred Prosecution Agreements in the UK. They will outline the different stages within the DPA model, from awareness of a potential DPA to court approval. They will also consider when a DPA is appropriate, factors that a prosecutor may take into account when deciding whether to enter into a DPA and further insights into the practical application of DPA’s across the UK.
Moderator: Allison Clare, barrister, Red Lion Chambers
The Rt Hon Sir Edward Garnier QC, One Brick Court
Richard Whittam QC, barrister, 2 Bedford Row
Alun Milford, general counsel, Serious Fraud Office (SFO) UK

15:50 - 16:40
Enforcement of Competition Law and Follow-On Actions in the UK
Competition law compliance is high on Banks’ risk registers, driven by increased enforcement and compulsory disclosure obligations to the FCA. Individual employee’s actions have the ability to create enormous liability for the banks. We will consider best practice in assessing competition risk and driving a culture of compliance. We will also discuss the strategic pay-offs associated with competition leniency applications and the inevitable follow-on litigation, as well as the interplay between competition and other regulatory rules.
Moderator: Nicole Kar, partner, Linklaters
Octavia Knox Cartwright, EME head of litigation, Barclays
Samantha Ward, senior associate, Clifford Chance
Nigel Parr, partner, competition and antitrust, Ashurst

16:40 - 16:50
Closing remarks from the co-chairs
Deborah Finkler, partner, Slaughter and May
Edward Sparrow, partner, Ashurst

Conference close