| Time Slot |
Event |
Speakers |
| 08:00 |
Registration & Breakfast |
|
| 09:00 |
Opening remarks from the Chair |
James L Deeny, Former head of HSBC Ireland & Senior Advisor, Invest Northern Ireland |
| 09:10 |
The EU's Financial Services Action Plan, Ireland's financial services industry, and other international financial services centres in Europe
Ireland's international financial services industry- can it prosper under FSAP?
Can international financial services industries of other EU member states prosper under FSAP?
How can national regulators facilitate FSAP?
Response to Tuesday afternoon's FSAP Colloquium (click to see Tuesday's programme above)
|
David Wright, Director, Directorate - Financial Markets, Internal Market, EU Commission |
| 09:30 |
Banking
Development potential out of Dublin/Ireland
Ensuring tax and legal environment encourages development
Comparative look at other jurisdictions
Future outlook
|
Michael Ryan, Managing Director, Merrill Lynch Capital Markets Bank |
| 09:50 |
Funds Opportunities
2003 a year of implementation - 2004 a year of progress
Overview of the current state of the Irish funds industry
UCITS III. Where are we now? Products, simplified prospectus, management companies and the European passport.
Common Contractual Funds and the pan-european pension.
Hedge Funds. Is Ireland doing enough to maintain its competitive
advantage?
Overview of forthcoming legislative amendments.
|
Michael Jackson, Partner, Matheson Ormsby Prentice |
| 10:10 |
New opportunities: Pensions
Background - pensions funding crisis
- fragmented pensions market place
Pensions Reform - EU Directive
- cost management
- liability management
The roadmap for pan-european pensions funds
- regulatory issues
- tax issues
Short term opportunities
- bi-lateral recognition of funds
- asset pooling
Asset Pooling - virtual v substantive techniques
- impact of taxation
- importance of tax transparency
Case Study: IBM |
Pat Wall, Partner, PricewaterhouseCoopers
Martin Jack, Director, IBM Retirement Funds EMEA, IBM |
| 10:40 |
Life Assurance
Development of life assurance sector to date
Opportunities of growth from Dublin
San Paolo Life - a practical example |
Matt Coffey, General Manager, San Paolo Life |
| 10:50 |
COFFEE |
|
| 11:10 |
Regulation - the Irish debate:
Funding of regulation
IFSRA's strategic plan
What regulators should be promising
The value of balanced regulation - getting the balance right between reputation versus competitiveness
|
Liam O\'Reilly, Chief Executive, Irish Financial Services Regulatory Authority |
| 11:30 |
Fallout from Spitzer - impact on EU market
Proposed U.S. fund legislation spurred by Spitzer's late trading and market timing inquiries
Related SEC rulemaking initiatives and regulatory inquiries in other jurisdictions
Related private sector corporate governance reform initiatives
|
Elizabeth Knoblock, Counsel, Dechert Washington |
| 11:50 |
Regulation - authorisation of funds
Comparative review of other jurisdictions including UK, Luxembourg, Germany and Cayman
Timing of process
Cost of process
Recommendations |
Paul Dobbyn, Partner, A&L Goodbody |
| 12:10 |
Panel Discussion to include
EU: 'centralist' versus 'federalist' approach to regulation, how CESR, IFSRA and the EU 'fit' together
US: implications of recent findings
Over-regulation versus under-regulation - how to get the balance right
the Companies (Auditing and Accounting) Bill 2003, |
William Slattery, Managing Director, State Street International
Liam O\'Reilly, Chief Executive, Irish Financial Services Regulatory Authority
Paul Dobbyn, Partner, A&L Goodbody
Cormac Murphy, Partner, Financial Services Risk Management, Ernst & Young
Elizabeth Knoblock, Counsel, Dechert Washington |
| 12:30 |
LUNCH |
|
| 14:00 |
Opening remarks from the chair |
John Fitzpatrick, Executive Director, Northern Trust Ireland |
| 14:10 |
New strategies to market international financial services
IDA's agenda
Establishing what the service offerings are
Challenges to Ireland's competiveness
What competitive advantages Ireland really has
How the tax, legal and regulatory environment can make Ireland more competitive |
David Hanna, Head of International Financial Services, IDA Ireland |
| 14:30 |
The European Tax Package : an Italian perspective.
The savings Directive ;
Harmful tax competition and recent Italian CFC legislation ;
The Italian tax reform vs. common European rules ;
Witholding taxes and freedom of movement of capitals : Italy vs. Ireland |
Patrizio Braccioni, Head of Tax, UniCredito Italiano S.p.A. Milan
Enda Faughnan, Tax Partner, PricewaterhouseCoopers |
| 14:50 |
Competitive advantage - the challenge for financial services in Ireland
Are we doing enough to mantain our position?
-Government committment
-Regulation
-Marketing
What impact will the new holding company regime have and how does it compare with the competition?
How ECJ decisions have changed the landscape and increased the tension.
Is retention of our veto the real issue?
|
Paul McGowan, Taxation Partner - Financial Services, KPMG |
| 15:05 |
Panel Discussion - Taxation
'Continent-wide' versus 'federalist' approach
The merits of each approach and the implications
Whether tax competition actually distorts or enhances international trade
Implications of the increase in the frequency of decisions being made by the European Court of Justice on tax law
Impact of new Irish Revenue approach - LCD, tax avoidance, retro-active legislation and the like on inward investment.
|
PJ Henehan, Tax Partner, Financial Services Group, Ernst & Young
Peter O'Dwyer, Consultant
Enda Faughnan, Tax Partner, PricewaterhouseCoopers
Paul McGowan, Taxation Partner - Financial Services, KPMG |
| 15:30 |
COFFEE |
|
| 15:45 |
Delivering a domestic settlement market for Europe: why back-office
consolidation matters
Current state of play in European securities settlement
Tackling fragmentation and inefficiency
A twin-pronged approach: harmonisation and consolidation
Corporate governance: where the interests of users and shareholders
converge
Future perspectives: towards a single European capital market |
Paul Symons, Director, Euroclear |
| 16:05 |
Case Study: Hypo Real Estate Bank International
outlining new opportunities in banking / property financing
decision to locate business in Dublin jurisdiction
opportunities in property financing
challenges to future growth in sector - regulation/taxation etc.
opportunities from Dublin jurisdiction
future development
|
Georg Funke, CEO, Hypo Real Estate Bank International (Dublin) and of Hypo Real Estate Holding AG (Germany) |
| 16:25 |
New Opportunities: Hedge Funds
Growth of European hedge funds business
Dublin as a centre of hedge fund servicing
Case Study: BISYS Hedge Fund Services
Case Study: Burdon Capital
Why Dublin ?
Prominent EU member state
Respected regulatory environment
Deep pool of local professional skills
Fiscal attractiveness
International transport infrastructure
Centre of excellence for fund administration |
Ronan Daly, Managing Director, BISYS Hedge Fund Services
Richard Burdon, Managing Director, Burdon Capital |
| 16:45 |
Case Study: Scotia Capital
Bank of Nova Scotia and Scotia Capital
Products: structured credit, leveraged finance, equity finance
Dublin: European Head Office for Credit and Equity Derivatives Capital Markets Group
Future opportunities / growth from Dublin base
|
Jean Dornhofer, Senior Vice President, Moody's Investor Services |
| 17:05 |
Panel Discussion: New developments going forward
EU Accession (Cyprus, Malta and others)
'Offshoring' trend: will back office jobs move to low cost centers like India, Malaysia, China?
Task force on Asset Management
Impact of FSAP on securitisation sector
Opportunities/challenges to increase Ireland's competitiveness
Recommendations for Gov. - leasing, educational aspect |
Peter O'Dwyer, Consultant
James L Deeny, Former head of HSBC Ireland & Senior Advisor, Invest Northern Ireland
Roseanne Kelly, Head of Investment Funds Listing, Irish Stock Exchange
Ciaran McGettrick, Business Development Director, Capita Ireland |
| 17:35 |
Closing remarks from the chair |
|
| 17:40 |
Conference ends
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Drinks reception
********************* |
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