Cayman Islands financial services providers are once again anticipating with interest a regulatory and US Securities and Exchange Commission enforcement seminar organised by Mourant Ozannes in collaboration with international law firm Shearman & Sterling.
The seminar is a reprise from the event held in early 2012, which was filled to capacity, and will be held on Friday, 15 February, from 2 to 5pm at the Westin Casuarina Resort in Grand Cayman.
The seminar will be hosted by Mourant Ozannes Litigation Partner Hector Robinson. Speakers will include Gail Goring, legal counsel at CIMA, and Tim Richards, senior associate from Mourant Ozannes’ Litigation Group, who will look at the proposed Data Protection Bill and its likely impact. Meanwhile, Shearman & Sterling Partner Adam Hakki and his colleague, Counsel Lindi Beaudreault, who together last year gave an extremely well received presentation, will this year provide an update on SEC enforcement actions involving fund managers and independent directors and will suggest ways to structure disclosure documents so as to deflect SEC and investor criticism. Hakki and Beaudreault will be joined on their panel by Adam Reback, who is the chief compliance officer for hedge fund manager, J. Goldman & Co., L.P.
Beaudreault noted: “We look forward to discussing with our Cayman colleagues the current landscape of enforcement cases and impact of current cases on the way that business is being done and investor disclosures are being made.”
With respect to fund managers, the panel will discuss trends in insider trading cases brought by criminal prosecutors, the US Securities & Exchange Commission and other countries’ securities regulatory authorities. The panel will review significant insider trading cases from 2012 and discuss ways these cases may change the way that business is being done. The panel will also discuss cases where advisers and administrators were charged for deviating from stated investment objectives and cases triggered by SEC’s Aberrational Performance Inquiry. With respect to independent directors, the panel will discuss charges the SEC has brought against former fund directors for purported fund valuation failures. The panel will also discuss structuring disclosure documents to maximize their liability protection and marketing value.
Visiting speaker Hakki has extensive experience representing clients in complex securities class action and shareholder litigation, as well as in civil and criminal investigations and cases brought by the Department of Justice, Securities and Exchange Commission, Commodities Futures Trading Commission, and state attorneys general, concerning disclosure, securities and insider trading, derivatives, commodities, financial products, financial reporting, accounting, ERISA, conflicts of interest, and major corporate transactions. Adam has been recognised for many years as a national leader in his field by leading client publications including Chambers USA and The Legal 500.
Beaudreault, who was once a senior counsel in the SEC’s Division of Enforcement, has a wealth of experience defending clients in complex government and SRO investigations and proceedings pertaining to securities, commodities, financial products, financial reporting, broker-dealers and hedge funds. Beaudreault also advises broker-dealers, hedge funds and other asset managers regarding regulatory compliance, disclosures and best practices.
Reback is the chief compliance officer of J. Goldman & Co., L.P., a multi-strategy hedge fund manager, based in New York, NY. Reback joined JGC in 2006 and has over 16 years of experience in hedge fund, investment adviser, investment company and broker-dealer compliance. Reback has primary responsibility for all Legal/Compliance and Regulatory matters at JGC, including the development, implementation and assessment of the firm’s compliance programs. In addition, Reback oversees the Administration/HR, Operations, and IT Departments of the firm. Reback serves on the Board of Directors of The National Society of Compliance Professionals and is a member of the Managed Funds Association, Hedge Fund Association, SIFMA Compliance & Legal Society and is a founding member of The Alternative Investment Compliance Association. Reback is a regular contributor to various investment industry periodicals and a frequent speaker on a wide variety of topics relating to hedge fund, investment adviser and broker-dealer regulation and compliance.
All three visiting speakers are based in New York.
Speaker and Mourant Ozannes Senior Associate Tim Richards is a commercial litigator in Mourant Ozannes’ Cayman office. He has extensive experience with cases involving international banks, asset managers, hedge funds, receiverships and public sector corporations. His recent cases include the Ritz receivership related litigation, an international arbitration in Washington and an insurance dispute, which is currently before the Cayman Islands Court of Appeal. Tim is also a return speaker from last year when he spoke on Cayman Islands derivative litigation.
Space for the complimentary seminar attendance is limited. To enquire about space availability contact: Nancy Kirkaldy-Barnard at Mourant Ozannes at 814-9133 or [email protected]