Moderators:
Gary DeWaal, Director, Global Legal and Compliance, Senior Executive Vice President, General Counsel, Fimat USA
Ronald Filler, Managing Director, Lehman Brothers

Panelists:
Barbara Bishop, Senior Managing Director, Bear, Stearns & Co.
Yvonne Downs, Director of Derivatives Compliance, Fimat USA
William Freilich, General Counsel, Bear Stearns Securities Corporation
Donald Horwitz, General Counsel, Global Futures, ABN AMRO Incorporated
Nancy Minett, Vice President, Compliance, New York Mercantile Exchange
Nick O'Neill, Partner, Clifford Chance London
Lawrence Patent, Supervisory Attorney Advisor, Commodity Futures Trading Commission
Dean Payton, Vice President, Office of Investigations and Audits, Chicago Board of Trade
Howard Plotkin, Senior Vice President, Lehman Brothers
Stephen Ratner, Partner, Proskauer Rose
Kenneth Rosenzweig, Partner, Katten Muchin Rosenman
Michael Schaefer, Managing Director, Citigroup Global Markets
Regina Thoele, Vice President, Compliance, National Futures Association
Eric Wolff, Managing Director, Regulatory Affairs, Chicago Mercantile Exchange
Emily Zeigler, Partner, Willkie Farr & Gallagher

Moderators:
Gary DeWaal, Director, Global Legal and Compliance, Senior Executive Vice President, General Counsel, Fimat USA
Ronald Filler, Managing Director, Lehman Brothers

Panelists:
Barbara Bishop, Senior Managing Director, Bear, Stearns & Co.
Yvonne Downs, Director of Derivatives Compliance, Fimat USA
William Freilich, General Counsel, Bear Stearns Securities Corporation
Donald Horwitz, General Counsel, Global Futures, ABN AMRO Incorporated
Nancy Minett, Vice President, Compliance, New York Mercantile Exchange
Nick O'Neill, Partner, Clifford Chance London
Lawrence Patent, Supervisory Attorney Advisor, Commodity Futures Trading Commission
Dean Payton, Vice President, Office of Investigations and Audits, Chicago Board of Trade
Howard Plotkin, Senior Vice President, Lehman Brothers
Stephen Ratner, Partner, Proskauer Rose
Kenneth Rosenzweig, Partner, Katten Muchin Rosenman
Michael Schaefer, Managing Director, Citigroup Global Markets
Regina Thoele, Vice President, Compliance, National Futures Association
Eric Wolff, Managing Director, Regulatory Affairs, Chicago Mercantile Exchange
Emily Zeigler, Partner, Willkie Farr & Gallagher

Moderator:
Ronald Filler, Managing Director, Lehman Brothers

Panelists:
Conrad Bahlke, Partner, Weil, Gotshal & Manges
Michael Macchiaroli, Risk Management & Control Associate Director, Division of Market Regulation, Securities and Exchange Commission
James McDaniel, Partner, Sidley Austin LLP
Frank Perrone, Senior Vice President, Brown Brothers Harriman
Ananda Radhakrishnan, Director, Division of Clearing and Intermediary Oversight, Commodity Futures Trading Commission
Kimberly Taylor, Managing Director and President, Clearing House Division, Chicago Mercantile Exchange
Paul Uhlenhop, Senior Member, Lawrence, Kamin, Saunders & Uhlenhop

Moderator:
Eric Kunkes, Vice President and Assistant General Counsel, J.P. Morgan Futures

Panelists:
John Brodersen, Associate Director of Compliance, National Futures Association
Stephane DiTullio, Director, U.S. E-Commerce, Barclays Capital
Thomas LaSala, Senior Vice President, Compliance and Risk Management, New York Mercantile Exchange
Dean Payton, Vice President, Office of Investigations and Audits, Chicago Board of Trade
Eric Wolff, Managing Director, Regulatory Affairs, Chicago Mercantile Exchange

Moderator:
Scott Early, Partner, Foley & Lardner

Panelists:
Geoffrey Aronow, Attorney, Heller Ehrman
Matthew Kelly, Director and Chief Intellectual Property Counsel, Chicago Mercantile Exchange
Vincent McGonagle, Senior Deputy, Division of Enforcement, Commodity Futures Trading Commission
Charles Mills, Partner, Kirkpatrick & Lockhart Nicholson Graham
William Nissen, Partner, Sidley Austin

Moderators:
Robert Klein, Managing Director, Citigroup Global Markets
William McCoy, Managing Director, Morgan Stanley

Panelists:
Nanette Everson, General Counsel, Commodity Futures Trading Commission
Vincent McGonagle, Senior Deputy, Division of Enforcement, Commodity Futures Trading Commission
Jacqueline Hamra Mesa, Director, Office of International Affairs, Commodity Futures Trading Commission
James Overdahl, Chief Economist, Commodity Futures Trading Commission
Ananda Radhakrishnan, Director, Division of Clearing and Intermediary Oversight, Commodity Futures Trading Commission
Alan Sobba, Director, Office of External Affairs, Commodity Futures Trading Commission
Richard Shilts, Director, Division of Market Oversight, Commodity Futures Trading Commission

Speaker:
Charlie Cook, editor and publisher of The Cook Political Report

Moderator:
Donald Horwitz, General Counsel, Global Futures, ABN Amro

Panelists:
Paul Architzel, Counsel, Alston & Bird
Sharon Brown-Hruska, Commissioner, Commodity Futures Trading Commission
John Davidson, Managing Director and Chief Corporate Development Officer, Chicago Mercantile Exchange
Barbara Lorenzen, Vice President, Audits & Financial Surveillance, Chicago Board of Trade
Brian Regan, Vice President and Counsel, New York Mercantile Exchange

Moderator:
Bruce Beatus, Senior Vice President and General Counsel, Calyon Financial

Panelists:
Julie Copeland, First Vice President, Global AML Officer, Merrill Lynch
David Mitchell, Partner, Cadwalader, Wickersham & Taft
Betty Santangelo, Partner, Schulte Roth & Zabel
Steven Thomas, Head of Compliance, Calyon Financial SNC London
Mark Topfer, Partner, Norton Rose

Moderator:
Kenneth Raisler, Partner, Sullivan & Cromwell

Panelists:
Ananda Radhakrishnan, Director, Division of Clearing and Intermediary Oversight, Commodity Futures Trading Commission
Thomas Sexton, Vice President and General Counsel, National Futures Association
Kimberly Taylor, Managing Director and President, Clearing House Division, Chicago Mercantile Exchange

Moderator:
Robert Paul, General Counsel, Philadelphia Stock Exchange

Panelists:
Robert Finney, Partner, Denton Wilde Sapte
Michael Philipp, Partner, Winston & Strawn
Joanna Stuart, Head of Market Surveillance, The London Metal Exchange Limited
Nick Weinreb, Group Head of Regulation, Euronext.liffe

Moderator:
David Battan, Vice President and General Counsel, Interactive Brokers

Panelists:
Stacie Hartman, Partner, Schiff Hardin
Matthew Kelly, Director and Chief Intellectual Property Counsel, Chicago Mercantile Exchange
Frank Perry, Director of Special Projects, Global Compliance, Fimat USA
Joelle Saint-Arnault, Vice President, Legal Affairs and Secretary, Bourse de Montreal

The United States Supreme Court rendered its decision in eBay, Inc. v. MercExchange, L.L.C., 547 U.S. ____ (May 15, 2006). The Court vacated the permanent injunction ordered by the Federal Circuit, holding that there is no "general rule that courts will issue permanent injunctions against patent infringement absent exceptional circumstances." The Court held that a plaintiff in a patent case, as in any other case, must satisfy the four factor test traditionally applied by courts of equity for a permanent injunction, namely, that (1) plaintiff has suffered an irreparable injury; (2) remedies available at law are inadequate to compensate for that injury; (3) the balance of hardships between plaintiff and defendant warrants a remedy in equity; and (4) the public interest would not be disserved by a permanent injunction.

The FIA, along with other organizations in financial services industries, had filed an amici brief arguing for a reversal of the Federal Circuit's "general rule" in favor of injunctions and for the public interest factor to be accorded paramount weight and not relegated to the "exceptional circumstances" as the Federal Circuit had determined. Permanent injunctions may still be granted on a regular basis in patent cases, particularly given that the grant of a patent provides the right to exclude others from practicing the patented inventions, but only after the courts find that plaintiffs' proof has met the traditional four factor test, including the public interest.

» Supreme Court Decision

Stacie R. Hartman
Schiff Hardin LLP
shartman@schiffhardin.com
T. (312) 258-5607

Moderator:
Bonnie Litt, Managing Director and Associate General Counsel, Goldman, Sachs & Co.

Panelists:
William Freilich, Senior Managing Director, Bear Stearns Securities Corporation
Robert O'Connor, Executive Director, Morgan Stanley
Stephen Ratner, Partner, Proskauer Rose
William Wollman, Vice President, Member Firm Regulation, Unit 3, New York Stock Exchange

Moderator:
Michael Sackheim, Partner, Sidley Austin

Panelists:
Richard Nathan, Principal, Nathan Law Office
Stephen Obie, Regional Counsel and Associate Director, Commodity Futures Trading Commission
Edward Zabrocki, Executive Director, Morgan Stanley

Moderator:
Ronald Oppenheimer, Vice President and General Counsel, Global Commodities, Merrill Lynch Commodities

Panelists:
Christopher Bowen, General Counsel and Chief Administrative Officer, New York Mercantile Exchange
Charles Collins, Executive Director, Morgan Stanley
Anthony Mansfield, Chief Trial Attorney, Division of Enforcement, Commodity Futures Trading Commission
Paul Pantano, Partner, McDermott Will & Emery
Johnathan Short, Senior Vice President and General Counsel, IntercontinentalExchange(ICE)

Moderator:
Emily Zeigler, Partner, Willkie Farr & Gallagher

Panelists:
Susan Ervin, Partner, Dechert
John Gaine, President, Managed Funds Association
Michael Griffin, Partner, Arnold & Porter
Thomas Sexton, Vice President and General Counsel, National Futures Association

Moderator:
Maureen Guilfoile, Director and Senior Counsel, Merrill Lynch

Panelists:
Kevin Foley, Partner, Katten Muchin Rosenman
Elizabeth King, Associate Director, Division of Market Regulation, Securities and Exchange Commission
Guy Miller, Vice President & Associate General Counsel, Goldman, Sachs & Co.
Kathryn Trkla, Partner, Foley & Lardner

Moderator:
Barbara Bishop, Senior Managing Director, Bear, Stearns & Co.

Panelists:
Thomas Cohen, Senior Managing Director, Bear, Stearns & Co.
David Gilberg, Partner, Sullivan & Cromwell
Geoffrey Goldman, Associate, Cleary, Gottlieb, Steen & Hamilton
Michelle MacDougall, Vice President, Counsel, Fimat USA
Carl Royal, Counsel, Schiff Hardin