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LABEX REFI and STONY BROOK UNIVERSITY Labex ReFi Summer School Conference Program v34c 02/09/2016 11:15:58 ET Document de travail LABEX REFI and STONY BROOK UNIVERSITY SUMMER SCHOOL ON A COMPARATIVE OF AMERICAN AND EUROPEAN FINANCIAL REGULATION New York City, September 7, 8 and 9, 2016 CONFERENCE ON QUANTITATIVE METHODS FOR FINANCIAL REGULATION Stony Brook: September 10 and 11, 2016 Website and Registration http://financialregulation2016.com http://caer2016.weebly.com/registration-form.html Main venue: Stony Brook Manhattan, 387 Park Avenue South (entrance on 27th Street), 3rd Floor, New York, NY 10016 Contact: [email protected] Tel: +1 (631) 632 9125 Sponsoring opportunities: [email protected] www.financialregulation2016.com 1/11 Labex ReFi Summer School Conference Program v34c 02/09/2016 11:15:58 ET Document de travail SUMMER SCHOOL A COMPARATIVE OF AMERICAN AND EUROPEAN FINANCIAL REGULATION New York City September 7, 8 and 9, 2016 Organizing Committee - Prof. Raphael Douady (Chair, Professor at Stony Brook Univ. ,Academic Director of Labex ReFi ) - François-Gilles Le Theule (Executive Director of Labex ReFi; Professor at ESCP-Europe) - Michel Perez (Labex ReFi, President. MAPI LLC) - Gérard Hertig (Labex ReFi, Chairman of the International Advisory Board) - Marco Dell’Erba (LabEx Refi) Tuesday, September the 6th Paramount Hotel, Time Square 4:30 pm Arrival of Labex team (20 members plus family) at JFK from Paris in the afternoon Transfer from JFK airport to Paramount hotel and check-in 7:30 pm Dinner, welcome remarks Georges Ugeux, CEO & Founder Galileo Advisors, Columbia University, former EVP of NYSE Overview of the (New) American and International Financial System Wednesday, September the 7th Session I: The Financial System and Global Governance Stony Brook Manhattan Chair: Pierre-Charles Pradier 8:15 am Registration 8:30 am Raphael Douady (Professor of Quantitative Finance SUNY, Scientific Director Labex ReFi) & Christian de Boissieu (Professor of Economics, Paris I Panthéon-Sorbonne University, President of the Scientific Committee Labex ReFi, AMF) Welcome Remarks 9:00 am François-Gilles Le Theule (Executive Director, Labex ReFi) & Jonathan Halpern (Partner, Foley & Lardner LLP) Decision Making Processes in Reforming Financial Regulations 9:50 am Chip Poncy (Former US Department of Treasury) US Financial Regulations and their international reach 10:40 am Coffee Break www.financialregulation2016.com 2/11 Labex ReFi Summer School Conference Program v34c 02/09/2016 11:15:58 ET Document de travail 10:50 am Fred Marcusa (Senior Partner, Kaye Scholer) The Impact of US Elections on Financial Regulation 11:50 am Christian de Boissieu (Professor of Economics, Paris Sorbonne University, President of the Scientific Committee, Labex Refi, Director of AMF) The Unification of European Financial Markets and its Consequences 1:00 pm Lunch Session II: Basel III and Prudential Rules Foley & Lardner 90 Park Av. New York NY 10016 Chair: Raphael Douady 2:15 pm Jean-François Serval (Founder, Constantin & Associates) Goals and effectiveness in a competitive worldwide financial environment 3:05 pm Frédéric Siboulet (Managing Director, Deloitte) Regulatory capital and Risk reporting 3:55 pm Coffee Break 4:10 pm Nicolas Dorgeret (European Parliament, ECON Committee) The European agenda of the post-trading regulation: the entry into force of the bilateral margins for non-centrally cleared OTC derivatives 5:00 pm Pierre-Charles Pradier (Professor of Economics, Paris I Panthéon-Sorbonne University, LabEx ReFi) Insurance Regulation: an EU/US Comparison 5:50 pm Cocktail Reception Thursday, September the 8th Session III: Supervision and Enforcement Stony Brook Manhattan Chair: Gerard Hertig 8:30 am Alain Pietrancosta (Professor of Law, Paris I Panthéon-Sorbonne University, Labex Refi, European Banking Institute) & Robert Stern (Partner, Orrick LLP) Insider Trading in Europe and in the United States 9:30 am Michel Perez (President MAPI LLC, Consultant, PhD candidate, LabEx ReFi) The American Deferred Prosecution Agreement (DPA) Procedure and its European Avatars 10:20 am Coffee Break 10: 30 am John P. Drohan III (Partner, Drohan Lee LLP, President ACI-FMA) SEC New Rules & Perspectives 11:20 am Jonathan Halpern (Partner, Foley & Lardner LLP) The US Department of Justice: Enforcement Powers and Actions www.financialregulation2016.com 3/11 Labex ReFi Summer School Conference Program v34c 02/09/2016 11:15:58 ET Document de travail 12.10 am Marco Dell’Erba (Post-Doctoral Fellow, Labex ReFi) Distressed banks and short selling in Europe and the US 1:00 pm Lunch Session IV: Capital Markets and Supervision Stony Brook Manhattan Chair: Christian de Boissieu 1:50 pm Federal Reserve Bank of New York Market Interventions and Supervision 2:30 pm Anastasia Sotiropoulou (Professor of Law, Saint-Étienne University) Bank resolution: the European approach 3:20 pm Coffee Break 3:30 pm Nasser Saber, author of the book “Speculative Capital” Derivatives & Swaps, Regulations and Practices 5:00 pm Special Tour of 9/11 Memorial and Freedom Tower (TBC) 7:30 pm Dinner for speakers and friends at Fraunces Tavern Friday, September the 9th Session V: Capital Markets & Supervision Stony Brook Manhattan Chair: Anastasia Sotiropoulou 8:30 am Carole Basri (Adjunct Professor, Fordham Law) Corporate Compliance 9:20 am Marie-Anne Barbat-Layani (General Manager of the French Banking Association) Global Banking and Local Regulations 10:10 am Edouard-François de Lencquesaing (Chariman, European Institute of Financial Regulation, Labex ReFi) The French contribution to the European CMU and US compatibilies 11:00 am Coffee Break Session VI: Accounting Principles & Norms Stony Brook Manhattan Chair: Irina Veryzhenko 11:20 am Shyam Sunder (James L. Franks Professor of Economics, Accounting & Finance -Yale School of Management) What is better financial reporting and how do we get there? www.financialregulation2016.com 4/11 Labex ReFi Summer School Conference Program v34c 02/09/2016 11:15:58 ET Document de travail 12:10 am Jonathan Glover (James L. Dohr Professor of Accounting, Graduate School of Business - Columbia University) Financial Engineering and the Arms Race Between Accounting Standard Setters and Preparers 1:00 pm Lunch Session VII: International Cooperation or Confrontation? Stony Brook Manhattan Chair: Alain Pietrancosta 2:10 pm TBD 3:00 pm Gerard Hertig (Professor of Law, ETH Zurich) Tax Havens, Modern Banking and Information Exchanges 3:50 pm Coffee Break 4:00 pm Elizabeth McCaul (Partner in Charge, Promontory) What Do Regulators and Regulated Entities Expect in Practice? 4:50 pm Round Table and Conclusions François-Gilles Le Theule, Marie-Anne Barbat-Layani, John Drohan, Gerard Hertig, Elizabeth McCaul Lessons Learned and to be Learned *** 5:45 pm Buffet reception at the French Consulate of New York Welcome address by H.E. Anne-Claire Legendre, Consul General of France in New York 8:00 pm Transfer by chartered bus to Stony Brook, Long Island; check in at hotel. www.financialregulation2016.com 5/11 Labex ReFi Summer School Conference Program v34c 02/09/2016 11:15:58 ET Document de travail CONFERENCE PROGRAMME QUANTITATIVES METHODES APPLIED FOR FINANCIAL REGULATION Stony Brook September 10 and 11, 2016 Academic contribution related to Financial Regulation presented by professionals, academics and students. Target: 40 attendants per session. Organizing Committee - Prof. Raphael Douady (chair prof. Stony Brook Univ., Labex ReFi academic director) - François-Gilles Le Theule (Labex ReFi executive director, ESCP-Europe) - Fahmi Ben Abdelkader (LabEx ReFi) - Antoine Kornprobst (LabEx ReFi) - Eloge Miedi (LabEx Refi) - Shohruh Miryusupov (LabEx ReFi) Saturday, September the 10th Stony Brook University, Stony Brook 8:00 am Raphael Douady (Professor of Quantitative Finance SUNY, Scientific Director Labex ReFi) Welcome & Registration 9:30 am Gael Giraud (Paris I Panthéon-Sorbonne University, LabEx ReFi) Plenary address #1 10:30 am Parallel sessions: 45min each Session I: CVA and Risk Models Room: Chair: TBA 1. Shohruh Mirysupov (Paris I Panthéon-Sorbonne University, LabEx ReFi) 2. Aaron Kim (Stony Brook University) Fractional Levy Process and Option Pricing 3. Stoyan Stoyanov (Stony Brook University) Moment based coherent approximations of tail risk measures www.financialregulation2016.com 6/11 Labex ReFi Summer School Conference Program v34c 02/09/2016 11:15:58 ET Document de travail Session II: Crisis Anticipation Room: Chair: TBA 1. Matheus Grasselli (McMaster University) Understanding Financial Crises - a statistical perspective 2. Youngna Choi (Montclair State University) Tracking Financial Instability Contagion: from Bubbles to Crises 3. Antoine Kornprobst (Paris I Panthéon-Sorbonne University, LabEx ReFi) Winning Active Trading Strategies Based on Financial Crisis Indicators Session III: TBA Room: Chair: TBA 1. Gael Giraud (Paris I Panthéon-Sorbonne University, LabEx ReFi) Can debt and global warming lead to a collapse? A stock-flow consistent approach 2. Stephane Thomas (Paris I Panthéon-Sorbonne University, LabEx ReFi) Trading Book and Credit Risk: Bending the Binds? 3. Salim Dehmej (LabEx Refi) Macroprudential Policy in a Monetary Union Session IV: TBA Room: Chair: TBA 1. ThierryBollier (J.P. Morgan) Economic Capital Buffers 2. William Ziemba (Sauder School of Business, University of British Columbia) Predicting stock markets crashes 3. Stephanie Ligot (Paris I Panthéon-Sorbonne University) The challenges and implications of the Markets in Financial Instruments Directive (MiFID) and of its
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