ISDA Annual Legal Forum

Thursday, January 30, 2020
London

Member US$475.00

Non-Member US$575.00

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Registration fee

  •  
  • Member
  • Non-Member
  • Early
  • US$375.00
  • US$475.00
  • Regular
  • US$475.00
  • US$575.00

 

The ISDA Annual Legal Forum is the premier event for derivatives lawyers globally. Featuring sessions on benchmark reform, the implementation of fallbacks for key IBORs, the next phases of initial margin regulations and the digitisation of documentation, the Annual Legal Forum includes the latest intelligence and detailed analysis on the most important legal and regulatory issues affecting markets today.

Educational Credits

5.25 CPD Credit Hours Available (England and Wales)

6 CLE Credit Hours Available (New York)
Transitional and Nontransitional

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Thursday, January 30, 2020

Print Agenda ISDA Annual Legal Forum for

8:00 AM Registration and Continental Breakfast

9:00 AM Introduction and Welcoming Remarks Katherine Tew Darras

Katherine Tew Darras, General Counsel, ISDA

9:10 AM Keynote Address William Hague

William Hague, Former UK Foreign Secretary

9:30 AM Benchmark Reform: The ‘Need to Know’ Rick Sandilands, Mark Brown, Rich Fox, Jasper Livingsmith, Tamsin Rolls, Mikael Stenström

Significant progress has been made to prepare for adoption of alternative risk-free rates in place of LIBOR and other IBORs, but a lot remains to be done. This panel will discuss the work completed to date in the sterling and euro risk-free rate working groups, and the future areas of focus.

  • Progress on adoption of the alternative risk-free rates
  • Managing potential basis risk between cash products and their hedges
  • The EU Benchmarks Regulation – current issues and impending review
  • Governance and accountability
  • Managing client communication and litigation risk

Moderator: Rick Sandilands, Senior Counsel, Europe, ISDA
Mark Brown, Partner, Linklaters LLP
Rich Fox, Head of Markets Policy, Financial Conduct Authority
Jasper Livingsmith, Head of G7 Portfolio Management, European Bank for Reconstruction and Development
Tamsin Rolls, Executive Director and Assistant General Counsel, JP Morgan
Mikael Stenström, Senior Adviser Market Operations, European Central Bank

10:20 AM Keynote Address on EU Benchmark Reform Tilman Lüder

Tilman Lüder, Head of Securities Markets, DG FISMA, European Commission

10:40 AM Networking Break

11:00 AM Ready for Fallbacks? Ann M. Battle, Dan Ashe, Patrick Chamberlain, David Horner, Heather Pilley, Deepak Sitlani

ISDA is preparing to publish revised Definitions to incorporate robust contractual fallbacks for derivatives referenced to key IBORs, along with a protocol to include fallbacks into legacy trades. This panel will cover the issues lawyers need to know about the new fallbacks.

  • Fallback methodology
  • Publication of spread adjustment
  • Comparing derivatives fallbacks to those for other financial instruments
  • What’s next?

Moderator: Ann M. Battle, Assistant General Counsel, Head of Benchmark Reform, ISDA
Dan Ashe, Counsel, Bloomberg L.P.
Patrick Chamberlain, Managing Director and Senior Counsel, Goldman Sachs
David Horner, Head of Risk, Rates Derivatives, LCH
Heather Pilley, Benchmarks Policy, Markets Policy, Strategy and Competition Division, Financial Conduct Authority
Deepak Sitlani, Partner, Linklaters LLP

11:45 AM From 2006 to 2020: The ISDA Definitions Graham Bryant, Suzanna Brunton, Lucinda Clayton, Andy Jackson, Philip Whitehurst

In 2020, ISDA will publish its revised interest rate and cross-currency transaction definitional booklet (the 2006 ISDA Definitions). This session will examine the proposed changes, the mechanism for implementation, and other issues firms should consider.

Moderator: Graham Bryant, Counsel, ISDA
Suzanna Brunton, Managing Associate, Linklaters LLP
Lucinda Clayton, Head of Derivatives Advisory, NatWest Markets
Andy Jackson, Executive Director and Senior Counsel, Goldman Sachs Asset Management
Philip Whitehurst, Head of Service Development, Rates, LCH

12:30 PM Lunch

1:40 PM Avoiding an IM Bottleneck Annabel Akintomide, Emma Patient, Hannah Patterson, Tom Shaw, Allan Yip

September 2020 will see large numbers of counterparty relationships come into scope of initial margin regulations. A revision of the phase-in schedule by the Basel Committee and IOSCO in 2019 will help mitigate the risk of a documentation and compliance bottleneck, but implementation challenges remain significant. This panel will cover the obstacles firms need to navigate, and the steps they should take to get ready.

  • AANA calculation and IM monitoring
  • Legal documentation
  • Technological solutions

Moderator: Annabel Akintomide, Counsel, ISDA
Emma Patient, Senior Legal Counsel, HSBC Bank plc
Hannah Patterson, Managing Associate, Linklaters LLP
Tom Shaw, EMEA Legal Counsel, Wellington Management
Allan Yip, Partner, Simmons & Simmons LLP

2:25 PM Standardise and Digitise Ciarán McGonagle, Akber Datoo, Richard Hay, Ian Sloyan

The push for greater automation is extending to legal documentation, but the digitisation of documents and capture of structured legal data first requires standardisation. This panel looks at the initiatives to standardise and digitise documentation, and the potential for automation through smart contracts.

  • ISDA Clause Library and ISDA CDM
  • Legal considerations for smart derivatives contracts
  • Next steps

Moderator: Ciarán McGonagle, Assistant General Counsel, ISDA
Akber Datoo, Founder & Managing Director, D2 Legal Technology (D2LT)
Richard Hay, UK Head of Fintech, Linklaters LLP
Ian Sloyan, Director, Market Infrastructure and Technology, ISDA

3:10 PM Networking Break

3:30 PM Beyond Brexit Fiona Taylor, Julian Adams, Chris Bates, Laura Muir

While the Brexit process continues, implications for the future relationship between UK and EU remain an area of focus.

Moderator: Fiona Taylor, Director, UK Public Policy, ISDA
Julian Adams, Director, Public Policy and Regulation, M&G plc
Chris Bates, Partner, Clifford Chance LLP
Laura Muir, Managing Director, Barclays

4:15 PM Facing Emerging Market Counterparties Peter Werner, Chris Arnold, Dominic Cooper, Brett Gallie

Trading in emerging markets pose a number of challenging legal and regulatory issues – from currency controls to a lack of recognition of close-out netting. In certain rare cases, sanctions have also been imposed, creating difficulties for non-sanctioned entities with pre-existing hedges. This panel will cover some of the issues lawyers need to consider.

Moderator: Peter Werner, Senior Counsel, ISDA
Chris Arnold, Partner, Mayer Brown International LLP
Dominic Cooper, Chair of the ISDA CEE/SEE/CIS Committee; Director, Legal, Citi
Brett Gallie, Chair of the ISDA Africa Committee, Head, Global Markets Legal, The Standard Bank of South Africa Limited

5:00 PM Conference Concludes

Agenda is subject to change.

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Allen & Overy LLP, Auditorium, One Bishops Square, London, E1 6AD. Phone +44 (0) 203 808 9700. A map to the venue can be found here. You will be required to provide photo identification in order to enter the venue. Please ensure you present this at the ground floor reception or you may be refused entry.

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Julian Adams

Director, Public Policy and Regulation

M&G plc

mandgprof

Annabel Akintomide

Counsel

ISDA

ISDAconferences

Chris Arnold

Partner

Mayer Brown International LLP

Mayer_Brown_UK

Dan Ashe

Counsel

Bloomberg L.P.

Chris Bates

Partner

Clifford Chance LLP

Ann M. Battle

Assistant General Counsel, Head of Benchmark Reform

ISDA

ISDAConferences

Mark Brown

Partner

Linklaters LLP

Suzanna Brunton

Managing Associate

Linklaters LLP

LinklatersLLP

Graham Bryant

Counsel

ISDA

ISDAconferences

Patrick Chamberlain

Managing Director and Senior Counsel

Goldman Sachs

GoldmanSachs

Lucinda Clayton

Head of Derivatives Advisory

NatWest Markets

Dominic Cooper

Chair of the ISDA CEE/SEE/CIS Committee; Director, Legal

Citi

Katherine Tew Darras

General Counsel

ISDA

ISDAConferences

Akber Datoo

Founder & Managing Director

D2 Legal Technology (D2LT)

akber_datoo

Rich Fox

Head of Markets Policy

Financial Conduct Authority

TheFCA

Brett Gallie

Chair of the ISDA Africa Committee, Head, Global Markets Legal

The Standard Bank of South Africa Limited

William Hague

Former UK Foreign Secretary

Richard Hay

UK Head of Fintech

Linklaters LLP

LinklatersLLP

David Horner

Head of Risk, Rates Derivatives

LCH

Andy Jackson

Executive Director and Senior Counsel

Goldman Sachs Asset Management

Jasper Livingsmith

Head of G7 Portfolio Management

European Bank for Reconstruction and Development

EBRD

Tilman Lüder

Head of Securities Markets, DG FISMA

European Commission

Ciarán McGonagle

Assistant General Counsel

ISDA

ISDAConferences

Laura Muir

Managing Director

Barclays

Emma Patient

Senior Legal Counsel

HSBC Bank plc

HSBC

Hannah Patterson

Managing Associate

Linklaters LLP

LinklatersLLP

Heather Pilley

Benchmarks Policy, Markets Policy, Strategy and Competition Division

Financial Conduct Authority

TheFCA

Tamsin Rolls

Executive Director and Assistant General Counsel

JP Morgan

jpmorgan

Rick Sandilands

Senior Counsel, Europe

ISDA

ISDAConferences

Tom Shaw

EMEA Legal Counsel

Wellington Management

Deepak Sitlani

Partner

Linklaters LLP

LinklatersLLP

Ian Sloyan

Director, Market Infrastructure and Technology

ISDA

ISDAConferences

Mikael Stenström

Senior Adviser Market Operations

European Central Bank

ecb

Fiona Taylor

Director, UK Public Policy

ISDA

@isdaconferences

Peter Werner

Senior Counsel

ISDA

ISDAconferences

Philip Whitehurst

Head of Service Development, Rates

LCH

Allan Yip

Partner

Simmons & Simmons LLP

SimmonsLLP

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Registration fee is for one person to attend the entire event. Pass may not be split between multiple attendees.

Groups of three or more attendees from the same firm can receive a 20% discount on event registrations. To register your group, please email conferences@isda.org.

Early registration ends on Thursday, December 19th. Regular registration rates are $475 U.S. Member | $575 U.S. Non-Member

Member US$475.00

Non-Member US$575.00

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Intermediate

Some knowledge of derivatives is assumed. No advance preparation is required.

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