* Program subject to change  | Wednesday, May 8, 2002 | | 12:00 PM—5:30 PM- | Registration Open | | | | | 2:30 PM—4:00 PM- | Session 1
Introductory Futures: Soup to Nuts (Appetizer Version) Moderators:
Gary Alan DeWaal, Director, Global Legal and Compliance, FIMAT Group;
Ronald H. Filler, Senior Vice President, Lehman Brothers Inc. Panelists:
Susan B. Bovee, Associate Director, Division of Enforcement, CFTC;
Adam Cooper, Senior Managing Director and General Counsel, Citadel Investment Group, L.L.C.;
Thomas LaSala, Senior Vice President, Compliance and Risk Management, New York Mercantile Exchange;
Bonnie S. Litt, Managing Director and Associate General Counsel, Goldman, Sachs & Co.;
Lawrence B. Patent, Associate Chief Counsel, Division of Trading and Markets, CFTC;
Dean Payton, Vice President, Office of Investigations and Audits, Chicago Board of Trade;
Michael M. Philipp, Partner, Katten Muchin Zavis Rosenman;
Stephen L. Ratner, Partner, Katten Muchin Zavis Rosenman;
Kenneth M. Rosenzweig, Partner, Mayer, Brown, Rowe & Maw;
Thomas W. Sexton, General Counsel, National Futures Association;
Eric S. Wolff, Managing Director, Chicago Mercantile Exchange Inc. | | Constellation E/F
Through the use of hypothetical examples, this interactive panel will introduce the audience to basic concepts of the futures industry, especially comparing these concepts to the equivalent concepts in the securities industry. This panel is intended for persons unfamiliar with futures, as well as experienced veterans who may need a quick refresher on basics. | | 4:00 PM—4:15 PM- | "Take Me Out to the Ballpark" Refreshments | | | Sponsored by:
| | 4:15 PM—5:30 PM- | Session 2
Futures: Soup to Nuts (Main Course Version) Moderators:
Gary Alan DeWaal, Director, Global Legal and Compliance, FIMAT Group;
Ronald H. Filler, Senior Vice President, Lehman Brothers Inc. Panelists:
Susan B. Bovee, Associate Director, Division of Enforcement, CFTC;
Adam Cooper, Senior Managing Director and General Counsel, Citadel Investment Group, L.L.C.;
Thomas LaSala, Senior Vice President, Compliance and Risk Management, New York Mercantile Exchange;
Bonnie S. Litt, Managing Director and Associate General Counsel, Goldman, Sachs & Co.;
Lawrence B. Patent, Associate Chief Counsel, Division of Trading and Markets, CFTC;
Dean Payton, Vice President, Office of Investigations and Audits, Chicago Board of Trade;
Michael M. Philipp, Partner, Katten Muchin Zavis Rosenman;
Stephen L. Ratner, Partner, Katten Muchin Zavis Rosenman;
Kenneth M. Rosenzweig, Partner, Mayer, Brown, Rowe & Maw;
Thomas W. Sexton, General Counsel, National Futures Association;
Eric S. Wolff, Managing Director, Chicago Mercantile Exchange Inc. | | Constellation E/F
Through the use of hypothetical examples, this interactive panel will take the audience through more advanced issues in the futures industry, especially highlighting international execution and clearance issues and prime brokerage. Exchange and clearing issues will also be discussed. | | | Session 3
Introduction to Derivatives Moderator:
John P. Emert, Assistant General Counsel, Bank of America Securities
Panelists:
Elizabeth Saeger, Executive Director, General Counsel CICPE, UBSWEnergy;
Ricardo Salaman, Vice President and Assistant General Counsel, Goldman, Sachs & Co.;
William A. Sullivan, Director and Counsel, UBS Warburg LLC | | Constellation D
This session will discuss the business purpose and structure of swaps, forward contracts and hybrid instruments. It also will provide an overview of how master agreements help manage the legal risk of these instruments. | | 7:30 PM—10:00 PM- | Optional Event - Baltimore Orioles vs. Cleveland Indians at Camden Yards | | | | | Thursday, May 9, 2002 | | 7:30 AM—5:30 PM- | Registration Open | | | | | 7:30 AM—8:30 AM- | Continental Breakfast | | | | | 8:30 AM—10:00 AM- | Session 4
Broker Dealer Regulation - Part 1: From Registration to Supervision Moderator:
Eileen T. Flaherty, President, FIA Law & Compliance Division
Panelists:
Dana G. Fleischman, Special Counsel, Cleary, Gottlieb, Steen & Hamilton;
Steven Lofchie, Partner, Davis Polk & Wardwell;
Howard R. Plotkin, Senior Vice President, Lehman Brothers Inc.;
Paul B. Uhlenhop, Partner, Lawrence, Kamin, Saunders & Uhlenhop
| | Constellation C/D
This session will provide a general overview of various securities regulatory issues faced by broker dealers in connection with registrations, record-keeping, communications with the public, and supervisory issues. Also included will be a discussion of the regulatory role of the SEC, the NASDR and the exchanges, as they relate to a broker dealer’s activities. | | | Session 5
Developments in Asset Management Moderator:
Michael F. Griffin, Partner, Dorsey & Whitney LLP
Panelists:
John F. Gaine, President, Managed Funds Association;
Anne-Marie Kaiser, Senior Attorney, National Futures Association;
Patrick A. McCarty, General Counsel, CFTC;
Cary J. Meer, Partner, Kirkpatrick & Lockhart LLP;
Emily M. Zeigler, Partner, Willkie Farr & Gallagher
| | Constellation E
This session will provide an overview of the regulation of commodity trading advisors and commodity pool operators with a focus on developments since May 2001. Issues impacting investment advisers will also be covered. | | | Session 6
Exchange and Clearing Organization Issues Moderator:
Ronald H. Filler, Senior Vice President, Lehman Brothers Inc.
Panelists:
Phupinder S. Gill, Managing Director and President, Clearing House Division, Chicago Mercantile Exchange Inc.;
Douglas Harris, General Counsel, BrokerTec Futures Exchange and BrokerTec Clearing Corp.;
John C. Lawton, Acting Director, Division of Trading and Markets, CFTC;
Dean Payton, Vice President, Office of Investigations and Audits, Chicago Board of Trade;
Robert C. Push, Senior Vice President, Brown Brothers Harriman & Co.;
Eric S. Wolff, Managing Director, Chicago Mercantile Exchange Inc. | | Constellation F
This panel will discuss regulatory and legal developments since May 2001 related to open outcry and electronic trading facilities of futures exchanges, as well as clearing organizations. Emphasis will be given to the evolving role of intermediaries in relation to these developments. Issues covered will include mistrade policies, use of collateral and cross-netting arrangements. | | 10:00 AM—10:15 AM- | Coffee Break | | | | | 10:15 AM—11:45 AM- | Session 7
Anti-Money Laundering Moderator:
Barbara W. Bishop, Senior Managing Director, Legal Department, Bear, Stearns & Co. Inc. Panelists:
Terry S. Arbit, Acting Chief Counsel, Division of Enforcement, CFTC;
Thomas S. Cohen, Managing Director, Bear, Stearns & Co. Inc.
Gary A. DeWaal, Director, Global Legal and Compliance, FIMAT Group;
Steven J. Metz, Senior Vice President, Deputy Director of Compliance, Prudential Securities Incorporated;
Betty Santangelo, Partner, Schulte Roth & Zabel LLP;
Barbara Wierzynski, Executive Vice President and General Counsel, FIA
| | Constellation C/D
This session will review the requirements imposed on broker-dealers and other entities under the U.S. PATRIOT Act of 2001 and the various anti-money laundering regulations. The impact on FCMs will be addressed. Particular focus will be given to the requirements for an anti-money laundering program, the closing of accounts of foreign shell banks, the certifications required in connection with correspondent accounts of foreign banks, and suspicious activity reports. | | | Session 8
Advanced Derivatives – Part 1: Coping with a Credit Crisis Moderator:
Jane D. Carlin, Managing Director and General Counsel, Banking, Credit, and Regulation, Morgan Stanley
Panelists:
Joshua D. Cohn, Partner, Allen & Overy;
Seth Grosshandler, Partner, Cleary, Gottlieb, Steen & Hamilton;
Andrew R. Kaplan, General Counsel, AIG Trading Corporation;
Michael Nelson, Vice President, Federal Reserve Bank of New York | | Constellation E
This session will discuss legal issues faced by participants in the OTC Derivatives markets in response to various bankruptcies and other insolvency events during 2001 including Pacific Gas & Electric, Enron Corp. and numerous airlines. Practical advice will be given to help in-house practitioners analyze the impact of typical provisions in ISDA and other standard documents related to OTC instruments with a counterparty of deteriorating credit. | | | Session 9
E-Compliance Moderator:
Eric L. Kunkes, Director and Senior Counsel, Merrill Lynch
Panelists:
John T. Brodersen, Associate Director of Compliance, National Futures Association;
Charles D. Collins, Manager, U.S. Futures Compliance, Morgan Stanley;
Dan Durkin, Director and Manager of Global Futures Execution Services, Merrill Lynch;
David S. Mitchell, Partner, Cadwalader, Wickersham & Taft
Jane Kang Thorpe, Esq. | | Constellation F
This session will address issues that in house compliance staff face in dealing with a firm’s and customer’s use of rapidly evolving technologies. Areas to be covered include order routing and electronic execution, Web site and wireless availability across jurisdictions, supervision of e-mail and communications by instant messaging, the use of electronic disclosure and account statements, and security and confidentiality issues. | | 12:00 PM—1:30 PM- | Luncheon Speaker:
The Honorable Sheila Bair, Assistant Secretary for Financial Institutions, U.S. Department of the Treasury | | Constellation A/B | | 2:00 PM—3:30 PM- | Session 10
Broker Dealer Regulation - Part 2: From Execution to Customer Protection Moderator:
John Polanin, Jr., Executive Director and Managing Attorney, Equities, UBS Warburg LLC
Panelists:
Matthew J. Connolly, Director, Equity Compliance, Credit Suisse First Boston;
Elliot Levine, Executive Director and Assistant General Counsel, CIBC World Markets Corp.;
Soo J. Yim, Partner, Wilmer, Cutler & Pickering
| | Constellation C/D
This session will provide a general overview of various securities regulatory issues faced by broker-dealers in connection with trade execution and pricing, the protection of customer assets, margining and other credit issues, and risk assessment rules. | | | Session 11
Litigation and Enforcement Developments Moderator:
William J. Nissen, Partner, Sidley Austin Brown & Wood
Panelists:
John W. Cotton, Partner, Cotton & Gundzik LLP;
Charles R. Mills, Partner, Sidley Austin Brown & Wood;
Daniel Nathan, Deputy Director, Division of Enforcement, CFTC;
Stephen F. Selig, Of Counsel, Brown Raysman Millstein Felder & Steiner LLP
| | Constellation E
This session will summarize significant futures and derivatives industry case law and enforcement actions since May 2001. The panel will discuss whether futures and derivatives industry participants should consider changing how they operate in light of these actions. | | | Session 12
Advanced Derivatives – Part 2: Risk Management, Disclosure and Regulation Moderator:
William F. McCoy, Executive Director, Morgan Stanley
Panelists:
Chris Borg, Senior Solicitor, Denton Wilder Sapte;
Bryan M. Murtagh, Executive Director, UBS Warburg;
Paul J. Pantano, Jr., Partner, McDermott, Will & Emery;
Scott Parsons, Chief of Staff, CFTC;
Kenneth M. Raisler, Partner, Sullivan & Cromwell
| | Constellation F
This session will discuss, among other things, the lessons of Enron Corp. Among other issues, the session will discuss recent developments in risk management practices, as well as legislative, regulatory and industry efforts to address the disclosure, accounting and regulation of OTC Derivatives. | | 3:30 PM—3:45 PM- | "Healthy Helpers" Break | | | | | 3:45 PM—5:15 PM- | Session 13
Security Futures Regulation - Part 1: From Registration to Supervision Moderator:
Susan C. Ervin, Partner, Dechert
Panelists:
De’Ana Dow, Director and Chief Counsel, Futures, Market Regulation, NASD Regulation, Inc.;
Kathleen Hamm, Director of Market Regulation, Nasdaq Liffe Markets, LLC;
Kenneth M. Rosenzweig, Partner, Mayer, Brown, Rowe & Maw;
Heather Seidel, Vice President, Morgan Stanley | | Constellation C/D
This session will address issues involving futures on individual securities and on narrow-based indices in connection with registrations, record-keeping, reporting requirements and communications with the public, and supervisory issues. Also included will be a discussion of the regulatory role of the CFTC, the SEC, the NFA, the NASDR and the exchanges, as they relate to security futures activities. | | | Session 14
Legal Ethics Moderator:
Michael S. Sackheim, Counsel, Sidley Austin Brown & Wood LLP
Panelists:
Richard E. Nathan, Law Office of Richard E. Nathan;
Rebecca J. Simmons, Partner, Sullivan & Cromwell;
Daniel R. Waldman, Partner, Arnold & Porter | | Constellation E
This session will discuss ethical issues related to legal representation of clients operating in a regulated environment. | | | Session 15
Order Handling and Trade Execution Moderator:
Bonnie S. Litt, Managing Director, Associate General Counsel, Goldman, Sachs & Co.
Panelists:
J. Michelle Broom, Executive Director, Global Futures Compliance, Goldman Sachs International;
Kevin M. Foley, Principal, Quincy Law Group;
Alan L. Seifert, Derivatives Regulatory Consultant;
Thomas W. Sexton, General Counsel, National Futures Association
| | Constellation F
This session will discuss issues in order handling and execution, from a U.S. and international perspective. Included will be issues related to bunched trade allocations, pre-trade discussions and related topics. This session will also review issues related to "best execution," exchange error trade procedures, block trades, EFPs, EFSs and EFFs. | | 6:30 PM—8:30 PM- | Crab Feast at Phillips Restaurant | | | | | Friday, May 10, 2002 | | 7:30 AM—11:30 AM- | Registration Open | | | | | 7:30 AM—8:30 AM- | Continental Breakfast | | | | | 8:30 AM—10:00 AM- | Session 16
Security Futures Regulation - Part 2: From Execution to Customer Protection Moderator:
Robert F. Klein, Director, Salomon Smith Barney Inc.
Panelists:
Georgia B. Bullitt, Executive Director, Morgan Stanley;
Arthur W. Hahn, Partner, Katten Muchin Zavis Rosenman;
Elizabeth K. King, Associate Director, Division of Market Regulation, Securities & Exchange Commission;
Elizabeth L. Ritter, Acting Deputy General Counsel, Legislative Affairs, CFTC;
Edward J. Rosen, Partner, Cleary, Gottlieb, Steen & Hamilton
| | Constellation C/D
This session will address issues involving futures on individual securities and on narrow-based indices in connection with execution and pricing, trading halts, linked clearing, the protection of customer assets, disclosure requirements regarding segregation of funds versus SIPC coverage, and margining and other credit issues. | | | Session 17
Recent International Developments Moderator:
Dennis A. Klejna, Executive Vice President and General Counsel, Refco, LLC
Panelists:
Andrea M. Corcoran, Director, Office of International Affairs, CFTC;
Julian M. Courtney, Compliance Director, Refco Overseas Limited;
Dilwyn Griffiths, Head of Market Conduct, Financial Services Authority;
Richard S. Parlour, Partner, Richards Butler | | Constellation E
This session will review material international legal developments since May 2001 relevant to the derivatives industry, including the U.K.’s new Market Abuse Regime, exchange mergers, and the regulatory status of electronic trading facilities. Also included will be a discussion of legal risks posed by cross-border businesses. | | | Session 18
Disaster Recovery after September 11 Moderator:
Ronald S. Oppenheimer, First Vice President and General Counsel, SSD, Merrill Lynch
Panelists:
Steven M. Bunkin, Vice President and Associate General Counsel, Goldman, Sachs & Co.;
Patrick L. Gambaro, Executive Vice President - Floor Operations and Systems, New York Board of Trade;
Brian J. Regan, Senior Associate General Counsel, New York Mercantile Exchange;
Charles J. Sgro, Regional Counsel (Eastern Regional Office), Division of Enforcement, CFTC;
Phillip A. Thorpe, President, Institute for Finacial Markets
| | Constellation F
This session will address the efforts of market participants, including regulators, exchanges, clearing houses, FCMs and OTC derivatives dealers, in the aftermath of September 11. Included will be a discussion of lessons learned in the context of business continuity planning and disaster recovery. | | 10:00 AM—10:15 AM- | Coffee Break | | | | | 10:15 AM—11:45 AM- | Session 19
Documentation for the FCM Practitioner Moderator:
Michael M. Philipp, Partner, Katten Muchin Zavis Rosenman
Panelists:
Scott L. Diamond, First Vice President, Corporate Counsel, Prudential Securities Incorporated;
Robert Finney, Partner, Denton Wilde Sapte;
Michael S. Sackheim, Counsel, Sidley Austin Brown & Wood;
Rebecca J. Wing, General Counsel, Peregrine Financial Group, Inc.
| | Constellation C/D
This session will provide practical advice to help in house FCM practitioners analyze and negotiate various agreements, such as customer agreements and agreements with third party vendors, exchanges and clearing houses. Also included will be a discussion of documentation for security futures. | | | Session 20
Evolution of the B2B Model Moderator:
David J. Gilberg, Partner, Sullivan & Cromwell
Panelists:
James M. Falvey, Vice President, General Counsel, InterContinental Exchange, Inc.;
Donald L. Horwitz, Head of Compliance, BrokerTec Futures Exchange LLC and BrokerTec Clearing Company LLC;
Richard A. Miller, Partner, White & Case;
David P. Van Wagner, Associate Director, Division of Trading and Markets, CFTC
| | Constellation E
This session will analyze legal and compliance issues relating to electronic trading facilities, centralized clearing and straight-through processing. Also discussed will be the impact of the Commodity Futures Modernization Act of 2000 on B2B exchanges that trade OTC derivatives and recent developments in mergers and acquisitions involving such exchanges and futures exchanges. | | | Session 21
Effective Supervision and Compliance in Today’s Office Moderator:
Bruce A. Beatus, Senior Vice President and General Counsel, Carr Futures Inc.
Panelists:
Terrence B. Clarke, Senior Compliance Director, Banc One Capital Markets;
Yvonne J. Downs, Senior Vice President of Compliance, National Futures Association;
Simon Elvidge, Global Deputy Director of Compliance, FIMAT Group;
Thomas Scherer, Director of Compliance, Institutional Securities, Morgan Stanley
| | Constellation F
This session will address the challenges of creating an effective supervisory structure as a firm chooses to establish multiple office sites over many geographic regions to provide for back-up contingencies. Also addressed will be the difficulties of developing and defining an effective compliance function as economic constraints put pressure on the ability to hire and retain staff.
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