GLOBAL COMPLIANCE:

Speaker: Chris Rexworthy, Head of Department Wholesale Firms Division, FSA.

Topic: Chris will explain the obligations regulators place on senior management in large, complex organisations.

Biography: Chris Rexworthy is head of Wholesale Investment Firms Department with overall responsibility for supervising some 2000 Wholesale Investment Firms. The firms range from the largest Money, Commodities and Derivatives Brokers and specialist Wholesale Asset Managers, to niche boutique corporate finance and hedge fund management firms.

Chris has spent over 20 years working in various Financial Services sectors including banking, insurance and retail product provision both with a manufacturer and a distributor. Chris joined the PIA, before it merged into the FSA, in 1996 and has held positions as head of the PIA's Pensions Unit, Head of Retail Investment Firms Themes, and Head of Industry Training before taking up his current post in April 2004.

Company Profile: The FSA are an independent body that regulates the financial services industry in the UK. The FSA have been given a wide range of rule-making, investigatory and enforcement powers in order to meet its four statutory objectives with one overall aim: to promote efficient, orderly and fair markets and to help retail consumers achieve a fair deal.

www.fsa.gov.uk

Speaker: Ian Mason, Partner at Barlow, Lyde & Gilbert

Topic: Ian will discuss how FSA holds senior management primarily responsible for a firm's compliance obligations and it recently indicated that it will be taking a "bold and resolute" approach to Enforcement, including a greater appetite for bringing cases against senior management. They may use criminal powers - the AIT case is an example of this - the CEO and FD received prison sentences for market manipulation. In this context Ian will discuss:

• The value of effective and well documented systems and controls when breaches occur.
• If something goes wrong, how FSA will look first at the firm's liability, but will then consider individuals.
• How are senior management and the control managers supporting them culpable?

Biography: Ian Mason, formerly the FSA’s Head of the Enforcement Division’s Wholesale Group, has been a partner in BLG’s Financial Services Regulatory Team since January 2006. Whilst at the FSA he led the team that produced the Enforcement section of the FSA Handbook, as well as developing the internal processes and procedures used by FSA staff in investigations. He has worked in all areas of the Enforcement Division, and has extensive knowledge of running complex FSA investigations and litigation relating to insurance, financial crime, banking, market abuse and other regulatory contraventions. He was involved in both the End to End Review and the recent Enforcement Process Review (Strachan Review) of Enforcement's processes and procedures.

Company Profile: Barlow Lyde & Gilbert is an international law firm with over 300 lawyers practicing from offices in London, Hong Kong, Shanghai and Singapore.

www.blg.co.uk

Speaker: Oliver McKenna, CEO of TerraNua, a Fidelity Company

Topic: Oliver McKenna will present a case study describing how Fidelity transformed their compliance capabilities.

Biography: As co-founder and CEO, Oliver McKenna has been the driving force behind TerraNua since its inception. He is a business visionary and focuses on growing and maintaining strong relationships with key customers and partners. He has over 18 years experience in general management, delivering complex business and technology solutions in the banking and investment sectors. Oliver has held key roles in Allied Irish Bank, Bank of Ireland, Standard Life and Fidelity Investments. He is a graduate of the University of Ulster with a B.Sc. honours degree in Information Technology and in 1999 participated in the highly regarded Executive Program at the Darden Business School, University of Virginia.

Company Profile: A Fidelity company, TerraNua is a specialist provider of software and IT services to the financial services industry. Within Compliance, they offer a range of market-leading solutions to increase management effectiveness and reduce compliance costs.

www.terranua.com

Speaker: Kevin Ludwick, Head of Regulatory Services, QUMAS

Topic: Kevin will present on how leading institutions are organising compliance and using technology to achieve management assurance across their groups.

Biography: Kevin has recently joined to lead QUMAS’s strategic thinking in financial markets and its work with financial services clients to support their enterprise-wide compliance needs. He brings a wealth of experience to QUMAS, both as a regulator and as a former Head of Compliance responsible for designing and implementing compliance strategy.

Kevin joined the FSA in 1999 supervising all major European and Japanese financial institutions in London. He subsequently ran the Listing Review and was responsible for negotiating relevant EU Directives and revising the U.K. Listing Rules in parallel with Sarbanes-Oxley in the U.S.. Further, he created a single supervisory function for the new Markets Division and built the FSA’s centralised regulatory decisions function.

Prior to joining the FSA, Kevin was the Head of Compliance for Bank of America EMEA, running a compliance function that operated across 11 jurisdictions, and was the former Finance and Compliance Director for Indosuez Capital.

www.qumas.com