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A lot of excellent information was presented. Great resource material to follow up on. - Associate Vice-President, Financial Services
University of Saskatchewan
 
 
 
8th Canadian Event!

Over-the-Counter Derivatives Reform 2019

Address the New Rules and Their Impacts on Your Organization!


May 14 - 15, 2019 · Toronto, Ontario
 
 
Featuring These Industry Experts
 

Derk
Carol Derk, Partner, Borden Ladner Gervais LLP

Carol Derk is a partner with Borden Ladner Gervais LLP and is a member of BLG’s Securities and Capital Markets Group, the National Leader of BLG’s Derivatives Group and the Co-National Leader of the Cryptocurrency and Blockchain Group. Carol practises in the area of securities law, specializing in derivatives, investment funds, cryptocurrencies and blockchain. She works extensively for managers of investment funds, particularly in the area of product development. Carol also has an extensive derivatives practice, including negotiating documentation, advising on regulatory compliance matters and developing new derivatives-based investment products. More recently, Carol has also developed a practice in the blockchain and digital asset space, advising clients that are developing products and services focused on cryptocurrencies and distributed ledger technology. Carol is a regular speaker at seminars and conferences on derivatives and investment funds. She is a recipient of the Women’s Executive Network (WXN) 2017 Canada’s Most Powerful Women: Top 100 Award, is recognized as a leader in her field by Derivatives Week and has been selected by her peers for inclusion in The Best Lawyers in Canada 2018 in the field of mutual funds law.

 
Donahue
Douglas Donahue, Partner, Linklaters LLP

Doug has a diverse practice that focuses on transactional and advisory matters related to derivatives. He represents both buy and sell-side institutions, including some of the foremost dealers, banks, and hedge funds, in connection with the development, structuring, negotiation and documentation of a wide variety of financial products. These products include total return swaps, swap intermediations, deal-contingent swaps, credit derivatives, interest rate swaps, commodity swaps, currency swaps, and other funded and unfunded products. Doug also advises such clients on regulatory issues, particularly those arising in the wake of the Dodd-Frank Act, related to derivatives. What’s more, Doug has extensive experience with hybrid products that combine securitization and/or project finance techniques and derivatives. Most recently, Doug represented ISDA on the industry consultation and drafting of its next generation of regulatory initial margin documentation. Doug is also leading Linklaters’ partnership with ISDA on ISDA Create.

 
Ching
Jonathan Ching, Partner, Linklaters LLP

Jonathan has significant experience advising arrangers and investors in derivatives (over-the-counter and cleared) and in structured products involving swaps, forwards or options linked to debt, equity or esoteric asset pools and futures. He regularly advises market participants on asset-backed securitizations and secured financings involving cash flow producing assets, including purchases and dispositions of asset portfolios. He has broad transactional and regulatory derivatives experience, including all derivatives-related aspects of the Dodd-Frank Act (Title VII), and in negotiating a wide range of trading agreements including ISDA Master Agreements, repurchase and securities lending agreements and prime brokerage documentation. Jonathan also assists clients with the structuring, negotiation, documentation and administration of physical and financial commodity transactions, including crude oil and refined products, base and precious metals, agricultural products, natural gas liquids, and renewables.

 
Gorlick
Warren Gorlick, Associate Director, Division of Swaps and Intermediary Oversight, Commodity Futures Trading Commission

As Associate Director in the CFTC's Division of Swaps and Intermediary Oversight, Mr. Gorlick and his staff focus on issues relating to the Commission's margin requirements for uncleared swaps. These activities include the drafting of regulatory requirements, promulgation of no-action letters, informal guidance to industry, and consultation with other U.S. market and prudential regulators, self-regulatory organizations, and trade associations. Before joining the CFTC, Mr. Gorlick worked in the SEC's Office of General Counsel, and the U.S. Treasury Department's Office of International Affairs. Mr. Gorlick also was associated with the law firm of Akin, Gump, focusing on fiduciary requirements under U.S. pension and security laws.

 
Hwang
Dean Hwang, Derivative Documentation Coordinator, Capital Markets Division, Ontario Financing Authority

Dean Hwang is responsible for analyzing global derivative regulatory environment, providing advice and recommendations, and implementing changes for the Province of Ontario and its Crown agencies. He also leads and completes negotiation of all risk management documents, including ISDA Master Agreement, repurchase agreements, and other types of financial agreements for the Province of Ontario, Ontario Financing Authority and Ontario Electricity Financial Corporation. Dean has over 10 years’ experience in Capital Markets legal and regulatory environment analysis and contract negotiation.

 
Kabbaj
Houcine Kabbaj, Senior Derivatives Analyst, Autorité Des Marchés Financiers

Houcine Kabbaj is a Senior Derivatives Analyst in the Derivatives Oversight team at the Autorité des Marchés Financiers. Houcine is involved in the development of derivatives regulations, in the supervision of the Quebec’s derivatives market and is an active member of the Canadian Securities Administrators Derivatives Committee. He has many years of experience in the derivatives industry, including in the areas of financial risk management consultation, operations, compliance reviews, implementation of new products, and derivatives market oversight in general.

 
Kerr
Scott Kerr, VP, Regulatory Developments and Programs, BMO Capital Markets

Scott Kerr is a VP in the Regulatory Developments and Programs group within BMO Capital Markets where he leads implementation and ongoing compliance efforts with global transaction reporting regulations. He has over 10 years of experience in Capital Markets and global regulatory matters, including Dodd-Frank regulations, Canadian derivatives rules, EMIR, MAS, HKMA, and MiFID.

 
Mansi
Julie Mansi, Partner, Borden Ladner Gervais LLP

Julie is a partner in the Securities and Capital Markets Group. Within her practice, Julie focuses on registrant regulation and compliance, investment management, commercial transactions and mergers and acquisitions. Julie is also a member of the Derivatives, Investment Management and Cryptocurrency and Blockchain groups. Julie has considerable experience in advising securities market participants on Canadian registration requirements and compliance and risk management matters. In addition to asset managers, she has assisted dealers, futures commission merchants, commodity trading advisors, foreign exchange dealers, commodity producers and physical metal brokers in navigating the Canadian registration and compliance regime. Recently she has worked on the launch of trading platforms (derivatives, crowdfunding portals, online advisers), fintech initiatives, strategies employing artificial intelligence and cryptocurrency offerings. In addition to her regulatory practice, Julie has an active mergers and acquisitions practice which includes securities registrants and financial institutions. Julie is a member of the Ontario Securities Commission’s Securities Advisory Committee and has been recognized in the 2018 edition of Canadian Legal Lexpert® Directory (Investment Funds & Asset Management). She was called to the Ontario Bar in 2002.

 
Palmer
Aaron Palmer, Partner, Blake, Cassels & Graydon LLP

Aaron Palmer is a Partner at Blakes where he has practiced since 2002 focusing on derivatives transactional and regulatory matters, dealer registration obligations, margin requirements, clearing, market structure, securities regulatory matters, and structured financial transactions. Aaron is recognized as a leading Canadian derivatives lawyer in Lexpert and The Best Lawyers in Canada.

Aaron advises numerous investment funds and hedge funds as well as their bank counterparties on contracting and regulatory compliance matters including in respect of prime brokerage arrangements, futures trading, securities lending, custody matters, registration and business conduct obligations and exemption orders. Aaron works on a broad range of securities transactions, innovative investment products and public and private equity and debt offerings securities, as well as on the structuring and regulation of alternative trading systems, exchanges and clearing agencies. Aaron’s derivatives and structured finance transactional experience includes extensive work on repo and securities lending transactions, structured derivatives and monetization transactions, and ISDA documentation work. His derivatives experience includes a secondment to the law department of a major Canadian bank with responsibility for equity derivatives transactions.

Aaron previously worked for 2 years in Blakes’ London office on a broad range of international capital markets and M&A transactions. Aaron received his LL.B. from the University of Toronto. Aaron also holds degrees from the University of Waterloo (Combinatorics & Optimization) and McGill University (English literature).

 
Reibetanz
Tim Reibetanz, Senior Counsel & Director, Legal and Regulatory Compliance, BMO Financial Group

Tim Reibetanz is Senior Counsel and Director, Legal & Regulatory Compliance at BMO Financial Group. Mr. Reibetanz is responsible for advising on global regulatory matters involving derivatives and other financial products. Over the past seven years, he has participated in the development and implementation of global derivatives regulations and has been involved in regular industry engagement and advocacy. He has also focused on financial market infrastructures, recovery and resolution planning, and global data confidentiality laws. He was awarded the Being BMO Award in 2015. Before joining BMO, Mr. Reibetanz was an associate at Blake, Cassels & Graydon LLP where he practiced corporate law. Mr. Reibetanz holds a B.C.L. and LL.B. from McGill University, where he received the Ballon Memorial Medal, awarded to the most outstanding student on the board of editors of the McGill Law Journal. He was also editor of the Canadian Guide to Uniform Legal Citation and clerked at the Québec Court of Appeal. He also holds an Hon. B.A. and M.A. from the University of Toronto, where he received the University College Medal for Best Degree – Bachelor of Arts. He is a member of the Ontario Bar.

 
Roche
Jerome Roche, Partner, Linklaters LLP

Jerome is widely regarded as one of the preeminent financial regulatory lawyers in the United States, including being selected by his peers for inclusion in The Best Lawyers in America in the practice area of Banking and Finance Law since 2013. According to Chambers USA 2018, clients consider Jerome to be a “very dedicated and focused” practitioner with “an encyclopedic knowledge of broker-dealer regulations.” Jerome advises domestic and international financial institutions on the U.S. regulation of securities, derivatives and foreign currency transactions. He has specialist knowledge of the fintech sector and regulatory environment. He is often called upon to advise on cross-border regulatory issues, including counselling clients on the interaction between the U.S. and UK/European Union regulations.

 
Schwartzberg
Nikolay Sapov, Manager, Financial Risk, The Canadian Depository for Securities Limited (CDS)

Nikolay Sapov is a Risk Manager at the Canadian Depository for Securities (CDS) responsible for core market risk activities, financial risk modeling and execution of industry compliance standards for CCP’s. Prior to joining CDS worked as a team lead and as a risk management consultant at Razor Risk Technologies completing projects with numerous clients including London Clearing House (LCH), International Derivatives Clearinghouse (IDCG), RBC Royal Bank and FHLBank Pittsburgh and Natural Gas Exchange (NGX). Prior to joining Razor Risk he worked in Investment Research Group at Goldman Sachs. Through projects and client engagements gained insight in Financial Risk Controls, Reporting and Modeling.

Nikolay holds a Master of Science in Engineering in Computer & Information Science (MSE) degree from University Of Pennsylvania and a Bachelor of Arts in Computer Science (BA) and a Bachelor of Business Administration (BBA) from Pacific Lutheran University.

 
Schwartzberg
Michelle Schwartzberg, Senior Counsel & Director, Legal and Regulatory Compliance, BMO Financial Group

Michelle is a member of the Derivatives Regulatory Team that advises BMO Capital Markets on global derivatives regulatory matters, focusing on Canadian, US, EU and Asia/Pacific regulations. Michelle works closely with the business teams at BMO, providing advice in the implementation of new regulatory obligations. In addition, Michelle also has significant experience negotiating complex ISDA and CSA agreements, including analyzing netting and collateral offset for various types of entities in many different jurisdictions. Prior to joining Bank of Montreal, Michelle worked at a large Bay street firm where her practice focused on complex lending and structured finance products.

 
Schillaci
Jacques Schillaci, Lawyer, Counsel, Linklaters LLP

Jacques advises clients on a wide range of regulatory issues in connection with mergers and acquisitions, securities offerings, fund formations, derivative and structured finance transactions, and loans and other financings. His practice focuses on the U.S. regulation of banks, bank holding companies and foreign banks, though he also advises fund managers and a number of other non-bank clients concerning the impact of U.S. financial regulation. He has developed particular expertise on cross-border transactions and advising on the intersection between the U.S. banking laws and foreign legal requirements. In recent years, Jacques has focused a significant portion of his practice on the Dodd-Frank Act and other regulatory responses to the financial crisis. He has provided extensive advice on the application of the Volcker Rule to both fund and structured product transactions, as well as to financial institutions’ trading operations. He has also advised a number of banks on U.S. regulators’ new “enhanced prudential standards.” His practice also encompasses advice concerning regulatory capital requirements under Basel III and the requirements of TLAC.

 
Mahendran
Sharmini Mahendran, Managing Director, Senior Counsel, Legal, Corporate & Compliance Group, BMO Financial Group

Sharmini Mahendran is Managing Director and Senior Counsel in the Legal, Corporate &Compliance Group at BMO Financial Group. She manages the Regulatory Team that advises BMO Capital Markets on global regulatory matters, including Canadian derivatives rules, Dodd-Frank regulations, EMIR and MIFID. Ms. Mahendran has served on various US industry group documentation and regulatory committees, including as the Vice-Chair of ISDA’s Financial Law Reform Committee. She was a member of the US delegation at the negotiations relating to the Unidroit Convention on intermediated securities and at the negotiations of the Hague Convention on conflicts of law relating to intermediated securities starting in 2002. She served as co-chair of the industry working group that produced the Cross-Product Master Agreement. A graduate of Harvard College and Harvard Law School, her publications include a co-authored chapter on legal risk issues in The Handbook of Credit Derivatives (McGraw-Hill).

 
Marsden
Joanne Marsden, Managing Director, Prudential Policy and Strategic Liaison, Office of the Superintendent of Financial Institutions Canada

Joanne Marsden is currently the Managing Director of OSFI’s Prudential Policy and Strategic Policy Liaison group, where her responsibilities include providing strategic direction to OSFI’s engagement with domestic and foreign financial sector regulatory bodies. She previously held management positions in the Bank Capital Division and has participated on the domestic inter-agency OTC derivatives working group since 2013. She joined OSFI in 2008 in the Legislation and Approvals Division where she worked as a Manager in Deposit-Taking Institution Approvals. She previously spent nine years in management positions at Bank of America and MBNA Canada overseeing various risk control departments, including loan review, fraud, collections and specialized lending.

 
Tobin
Patrick Tobin, Capital Specialist, Bank Capital Division, Office of the Superintendent of Financial Institutions Canada

Patrick Tobin is currently a Capital Specialist in the Bank Capital Division of OSFI. His area of specialization is credit risk, including counterparty credit risk and derivatives and is OSFI’s representative on the Credit Risk Group of the Basel Committee on Banking Supervision. He began his career at OSFI in 2008 as an analyst in the Capital Division. Prior to joining OSFI, Patrick worked at a financial software company.

 
McPartland
John McPartland, Senior Policy Advisor, Financial Markets Group, Federal Reserve Bank of Chicago

As a senior member of the Financial Markets Group, John McPartland advises senior management of the Federal Reserve Bank of Chicago on matters involving international netting systems, settlement systems for fixed income and equity securities in G-5 countries, exchange traded derivatives, privately negotiated derivatives, risk mitigation techniques, especially bilateral collateralization of foreign exchange and derivatives instruments, margining systems of derivatives exchanges in G-10 countries, idiosyncrasies affecting U.S. securities markets, payment initiatives and issues relevant to collateralizing or clearing Over the Counter (OTC) derivatives instruments. He contributes to the Federal Reserve’s position on public policy issues involving netting systems, supervisory oversight of exchange-traded and OTC derivatives, international competitiveness, and appropriate regulatory structure of domestic financial markets. He additionally serves as a technical resource that can be seconded to other national authorities. Prior to joining the Bank, Mr. McPartland was a commercial banker to the futures industry, an executive of two Futures Commission Merchants and a member of the CME. He was the Deputy Manager of the CME Clearing House for a decade. He has previously served as a member of the CFTC’s Technology Advisory Committee and currently serves as an independent member of the Probable Cause and Business Conduct Committees of the CME and CBoT.

 
McPartland
John McPartland, Senior Policy Advisor, Financial Markets Group, Federal Reserve Bank of Chicago

As a senior member of the Financial Markets Group, John McPartland advises senior management of the Federal Reserve Bank of Chicago on matters involving international netting systems, settlement systems for fixed income and equity securities in G-5 countries, exchange traded derivatives, privately negotiated derivatives, risk mitigation techniques, especially bilateral collateralization of foreign exchange and derivatives instruments, margining systems of derivatives exchanges in G-10 countries, idiosyncrasies affecting U.S. securities markets, payment initiatives and issues relevant to collateralizing or clearing Over the Counter (OTC) derivatives instruments. He contributes to the Federal Reserve’s position on public policy issues involving netting systems, supervisory oversight of exchange-traded and OTC derivatives, international competitiveness, and appropriate regulatory structure of domestic financial markets. He additionally serves as a technical resource that can be seconded to other national authorities. Prior to joining the Bank, Mr. McPartland was a commercial banker to the futures industry, an executive of two Futures Commission Merchants and a member of the CME. He was the Deputy Manager of the CME Clearing House for a decade. He has previously served as a member of the CFTC’s Technology Advisory Committee and currently serves as an independent member of the Probable Cause and Business Conduct Committees of the CME and CBoT.

 
Mirakian
Shahen Mirakian, Partner, McMillan LLP

Shahen Mirakian is a partner in McMillan's Financial Services and Capital Markets Groups with a practice focused on over-the-counter and exchange traded derivative products; dealer and adviser registration and compliance; investment funds; and financial and payment infrastructures. Shahen is involved in all aspects of structuring and documenting of a broad range of derivative products particularly equity, currency and commodity derivatives. He represents all types of counterparties including Canadian and international banks and dealers, sovereign entities, public and private investment funds and end users. Shahen has particular expertise in structuring and documenting margin loans on control blocks of Canadian public companies. He was seconded to the legal department of a leading Canadian bank to provide support to the equity derivatives group. Shahen served on the Securities Advisory Committee of the Ontario Securities Commission from January 2012 to December 2015. Shahen has successfully completed the full set of CFA and CAIA examinations.

 
Pallone
Candace Pallone, Counsel, Financial Services, McCarthy Tetrault LLP

Candace Pallone is Counsel to the Toronto office of McCarthy Tétrault, LLP. She has extensive experience in all aspects of OTC derivative transactions, including the regulation of OTC derivatives, the central clearing of OTC derivatives and repo transactions. Her expertise is recognized in The Best Lawyers in Canada for derivatives law, The Best Lawyers in Canada 2018 “Lawyer of the Year” for derivatives law and The Canadian Lexpert Legal Directory as most frequently recommended in the area of derivative instruments.

 
Unterman
Aaron Unterman, Senior Legal Counsel, Ontario Securities Commission

Aaron Unterman is senior legal counsel in the Ontario Securities Commission’s derivatives branch. He participates in the development of OTC derivative policy and regulation through his involvement in the CSA OTC Derivatives Group, the Heads of Agencies, the OTC Derivatives Regulators Group, and the IOSCO Task Force on Derivatives. He is the author of a number of publications including Regulating Global FMIs: Achieving stability and efficiency across borders published in a book entitled "Analyzing the Economics of Financial Market Infrastructures". Aaron is a former member of Osler, Hoskin & Harcourt LLP banking and financial services group.

 
Fine
Kevin Fine, Director, Derivatives Branch, Ontario Securities Commission

Kevin Fine has been the Director of the Derivatives Branch at the Ontario Securities Commission since 2011. As part of his duties at the OSC he participates in a variety of national and international committees currently working on introduction and oversight of regulation of over the counter derivatives markets. He is the long-time co-chair of the CSA Derivatives Committee and Chair of the international Over the Counter Derivatives Regulators Forum (the “ODRF”). Kevin is also one of the past co-chairs of the IOSCO Task Force on OTC Derivatives and has led several international workstreams relating to OTC derivatives regulation. Mr. Fine was previously Associate General Counsel and Managing Director, Retail Investor Solutions Group and Securitization, for Bank of Montreal Financial Group of Companies ("BMOFG") and had almost 20 years experience working in OTC derivatives matters for BMOFG.

 
Agrawal
Srijan Agrawal, Director, Regulatory Strategy & Engagement, RBC Capital Markets

Srijan Agrawal is a Director – Regulatory Strategy and Engagement with RBC Capital Markets with 10 years of banking and capital markets experience. Srijan’ s responsibilities include strategic analysis of regulatory initiatives that impact the firm’s cleared and uncleared derivatives business and regulations that impact the firm’s balance sheet from a capital, leverage and funding perspective, with a focus on minimum capital requirements for market risk (Fundamental Review of Trading Book). Prior to his current role, Srijan was a senior counsel with RBC Capital Markets advising on structured products and derivatives. Srijan earned a Bachelor of Laws (LL.B.) and Honours in Business Administration (HBA) from University of Western Ontario and a Masters of Finance (MFin.) from the University of Toronto.

 
Gorantla
Naveen Gorantla, Sr. Technology Officer, Global Regulatory Reporting, BMO Financial Group

Naveen Gorantla is a Sr.Technology Officer – Global Regulatory Reporting at BMO Financial Group with 10 years of capital markets experience. Naveen’ s responsibilities include analysis, design & delivery of regulatory reporting solutions that impact the bank. Extensive working knowledge on DFA, CSA, EMIR, MAS, HKMA, ASIC, IIROC and MiFID. Prior to his current role, Naveen worked in various roles in consulting and product development.

 
Cymbalisty
Shawn Cymbalisty, Associate, Osler, Hoskin & Harcourt LLP

Shawn practices in the area of corporate and securities law, with an emphasis on investment funds, asset management, securities lending and derivatives regulation. He has assisted fund managers, pension funds and other institutional investors with various matters relating to exchange-traded funds, mutual funds, hedge funds, private equity funds and managed account arrangements, including fund formations, significant investments, portfolio management compliance matters and investment management, trust, securities lending and custodial agreements. He has acted for both issuers and underwriters on a variety of corporate finance matters, and has assisted in the formation and financing of many emerging companies. Shawn is a CFA charterholder and Professional Engineer with significant experience in the mining sector designing automated systems at all stages of the mining process. His additional work experience includes commercial robotics research, computer programming and oil & gas engineering.

 
Sargent
Britt Sargent, Associate, Osler, Hoskin & Harcourt LLP

Britt is an associate at Osler, Hoskin & Harcourt LLP. Britt practices in financial services with a focus on loan facilities, debt offerings, hedging and repo/securities lending. Prior to joining Osler, Britt spent two years at the Ontario Securities Commission working in the Derivatives Branch and General Counsel's Office on legislative reform projects including in connection with Canada's G20 commitments to regulate OTC derivatives. In her transactional practice, Britt routinely acts for credit providers, borrowers, pension funds, underwriters and issuers on loan facilities, acquisition financing, project financing and debt offerings as well as on hedging, securities lending and repo documentation.

 

 
 

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OTC Derivatives Reform is once again heating up in Canada with the looming introduction of National Instruments 93-101 and 93-102. The Business Conduct Rule and the Derivatives Registration Rule will both likely require preparation and changes throughout your organization.

Infonex's OTC Derivatives Reform in Canada is the only place you can meet with the regulators, legal experts and your peers to discuss the new rules. Sessions are packed with new updates, industry responses, and applied to a domestic and international context.

Hear straight from the Canadian Securities Administrators on the status of the rules, and the vision for going forward. Meet your fellow derivative market participants, buyers and sellers, and gain a broader perspective on the industry impacts.

Don’t be left behind. Join us in Toronto and go back to your workplace informed on the Canadian OTC derivatives reform landscape.

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