Banking Litigation & Regulation Forum 2020
The May Fair | London
Thursday 11 June 2020
8:00 AM - 8:50 AM | Registration & Networking
8:50 AM - 9:00 AM | Welcome Remarks
Helen Carty, Head of London Litigation & Dispute Resolution, Clifford Chance
9:00 AM - 9:30 AM | Opening Interview
Sonia Tolaney QC, One Essex Court
9:30 AM - 10:15 AM | The Outlook for 2025: How Political And Economic Risk Will Impact The Future Of Financial Dispute Resolution
Over the past five years, we have witnessed increasing tension, volatility and uncertainty in markets across the globe. As a result, the complexity and cost of banking litigation investigations and regulatory enforcement will inevitably continue to rise.
Financial institutions will thus have to become ever more astute to managing disputes in an unstable environment – but can business really continue as usual? Or should we adapt our approach to dispute resolution? Can London remain a leader in litigation, arbitration and regulation? And what will be the lasting impact of these political matters on dispute resolution for financial institutions?
10:20 AM - 10:50 AM | Breakout A: Cyber & Operational Resilience
Following recent eye-watering fines served to financial institutions, including the Equifax hack, we look at the regulatory backdrop succeeding post-GDPR implementation and the practical steps we must all take in order to protect data surrounding personal data and the data involved in investigations and disputes.
These attacks pose a significant threat to reputational integrity, but what role do regulators and litigators play in tackling the challenges that arise from data breaches? When should we report to the regulators, police and the public? What is our role in ensuring the correct infrastructure is in place?
10:20 AM - 10:50 AM | Breakout B: Benchmark Manipulation and LIBOR Transition: The Risk of Litigation is Very Real
In two long running claims, the High Court handed down judgement against financial institutions. The court held that there had been alleged benchmark manipulation and implied misrepresentation about LIBOR.
At the start of 2020, the Financial Conduct Authority also released its outline for phasing IBOR out by the end of 2021 in the US and transitioning to the new benchmark rate – SONIA. With a predicted rise in litigation cases, litigators remain anxious as to the true impact this will have on the complexity of financial litigation. What do you need to know now? How should you begin to prepare for the transition and what risks and challenges lie ahead?
10:20 AM - 10:50 AM | Breakout C: Group Actions Litigation & Litigation Funding:
The notion of litigation funding from third party funding was once an unusual consideration, but over the past year we have seen a rapid increase in litigators exploring this as a viable and advantageous option.
Now in 2020, we take a hard look at the past years trends, the long term impact of the RBS and Mastercard group litigation, and how we must adapt our litigation style for future years.
10:50 AM - 11:20 AM | Networking Refreshment Break
11:20 AM - 12:05 PM | Financial Crime Roundup: Cases From The Past Year and Lessons Learnt
Recent cases from the past year have shown us that regulators are increasingly focusing not only on whether processes are followed, but also on the quality of judgments surrounding financial crimes. In this session, we round up the most important cases from the past year, drawing up the key lessons to take away from each case in a quick fire round of presentations.
12:05 PM - 12:50 PM | Environmental, Social and Governance: Financial Services Sustainability In 2020
UK and EU regulators have increased their focus on environmental, social and corporate governance (ESG), including the impact ESG and climate-related risks have on financial institutions and what the role should be for the financial sector in supporting sustainability. As this grows as one of the key drives for decisions involving investment, risk and supply chains and the Financial Conduct Authority issues new regulatory guidelines on this matter, we take a look at how this will impact financial institutions and dispute resolution in the forthcoming future. What are the new ESG-related regulatory requirements for financial institutions? How does this impact disclosure and policy? How should you assess your exposure to these risks?
12:50 PM - 1:50 PM | Networking Lunch Break
1:50 PM - 2:20 PM | Afternoon Interview
2:20 PM - 3:05 PM | Culture & Conduct: Diversity, Misconduct & Whistleblowing
We all want good conduct and by now we should all know what the right conduct and culture looks like across financial institutions and the legal profession. However understanding the steps it takes to achieve best practice can be harder to determine and even harder to implement and maintain. In this session, we will explain the practical steps we should take as legal professionals in achieving these positive steps, overcoming the challenges and understanding where it can all go wrong.
Tracey Dovaston, Partner, Boies Schiller Flexner
3:10 PM - 3:55 PM | Breakout B: Artificial Intelligence And Online Courts: The Future Of Dispute Resolution?
Technology has driven transformation for many areas of the legal profession aiding with tools covering contract management and e-discovery to cloud based systems and big data and analytics.
Yet, dispute resolution has yet to feel the full impact of this transformation. What stage are we currently facing? Where will this take us in the next five years?
3:10 PM - 3:55 PM | Breakout C: Disrupting Retail Banking
Innovative retail banks have disrupted the financial sector over the past years and continue to develop innovative new technologies pushing the boundaries of regulation even further and pushing regulators to keep pace. Reflecting on the key changes, we take a look at how these banks have challenged and transformed the traditional banking regulatory landscape in recent years and take a deep dive into the unique challenges they have faced and will encounter around dispute resolution and regulation.
3:10 PM - 3:55 PM | Breakout A: Financial Misconduct: Market Manipulation & Collusive Trading
Regulators continue to enforce stricter regulation to crack down on white collar crimes and the intentional act of market manipulation of stocks or behaviour within the market.
Insider trading is one of the most common examples, but there are many ways in which traders can exploit the market. In this session, we will examine the trends and key regulatory changes over the past year and what to expect in 2020.
3:55 PM - 4:25 PM | Networking Refreshment Break
4:25 PM - 5:10 PM | The Disclosure Pilot: Lessons Learnt So Far
At the start of 2019, an ambitious new two year disclosure pilot scheme was launched with the aim to tackle the current disclosure regime challenges and costs. In this session, we will reflect on its impact across litigation so far and whether the original aims of the pilot have been achieved.
5:10 PM - 5:40 PM | PechaKucha: An Update On The Latest Cases In The UK
Join this high-octane session as the speakers are battling against auto advanced slides and the clock in order to brief you on the most important banking litigation cases of the past 12 months. Ready, set, go... 20 seconds a slide for 6 minutes.