Traversing New Waters: Eight Years Post-Crisis A Panel on the Impact of the Regulatory Tsunami on Securities

The collapse of one of the largest investment banks in 2008 sent shockwaves around the world, leading to a sea swell of new regulatory reforms that have changed industry dynamics. Contributors on this session will examine post- crisis regulatory changes and their bearing on how we conduct our business in securities today and in the future. Moderator Ken Porcaro Head of Americas Client Coverage, Direct Custody and Clearing, Citi Marilyn Lipton Americas and Acting Deputy Head, Global ICG Network Management Group, Citi George Peacock Regional Head of Global Network Management Credit Suisse Mike Reardon Vice President, Global Operations Network Management, State Street Louis Schwartz Senior Vice President and Regional Head of Network Management, Northern Trust

Global Regulators have responded to the financial crisis of 2008 and the specific events that contributed to the intensity of the Global Market collapse by implementing massive changes in regulation impacting the way market participants conduct business. Below are just a sample of the Regulatory programs having the biggest impact on Securities services business:

The intent of these regulations cover a wide area of issues that were perceived to be lacking across the Global Securities Markets. They impact all market Participants in many ways and are noble in their approach to ensure stable and secure markets. Some of the specific issues these regulations are focused at improving are : Market Transparency Investor Protection Efficient costing for Investment activities Improved Capital Strength Increased Liquidity Accountability Reduced Leverage Reduced Risk Taking for Systemically Important Financial Institutions Ability to withstand Market Crisis Clear Contingency Plans Enhanced Due Diligence Move OTC Derivatives to CCP Improved Audit and Compliance Identify Fraud Increased Effective Oversight ………………………………..

Our panel of experts will discuss how all of these regulators and regulations impact the Securities Services industry and our ability to provide Global Custody and Direct Custody and Clearing Services to the end investors? How have they changed the work that we do? What are some of the challenges to our business models? This panel will examine the impact of this Global Regulatory Phenomenon on our day to day activities, our industry and our careers!!

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