annual malta fund conference aifmd one year …2014/08/28 · morning, 2014 – hilton – st....

The 4th Annual Malta Fund Conference

AIFMD ONE YEAR AFTER Implications for Funds, Managers & Service Providers

September 18th & 19th Morning, 2014 – Hilton – St. Julian’s Bay – Malta CPE: 12 hours

With the exceptional participation of

Minister for Finance Prof. Edward Scicluna B.A.(HONS.)ECON., D.S.S.(OXON.), M.A. ECON.(TORONTO), PH.D. ECON.(TORONTO), M.P

Prof. Joe V. Bannister,

Chairman MALTA FINANCIAL SERVICES AUTHORITY, Malta

Esther Wandel

Manager, Investment Funds Team FCA, London

Paul Schott Stevens

President & CEO INVESTMENT COMPANY INSTITUTE, Washington

Jose Moncada

Senior Officer for Investment Management, European Securities and Markets Authority (ESMA), Paris

Dr. Henning Starke

Partner KING & WOOD MALLESONS SJ BERWIN LLP, Frankfurt

Peter Astleford

Partner DECHERT LLP, London

Organised by:

Strategic Partner:

Partners:

http://www.esafon.com

http://www.esafon.com/

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The 4th Annual Malta Fund Conference AIFMD ONE YEAR AFTER

Implications for Funds, Managers & Service Providers September 18th & 19th Morning, 2014 – Hilton – St. Julian’s Bay – Malta

ESAFON – A non-profit Association – N° Féd CH-550.1.107.500-6 – Avenue de Belmont 7, CH 1820 Montreux Tél : +41 22 319 69 00 – Fax : +41 22 319 69 01

e-mail : [email protected] – website: www.esafon.com 2

Montreux, August 28th, 2014 Dear Executive,

Malta has been elected the favored Hedge Fund jurisdiction in Europe in 2013! MFSA, the Malta Financial Service Authority has been pragmatic to meet the AIFMD requirements and Maltese Service Providers quick to adapt. All in all, Malta is seeing a bunch of new applications that is reflecting the industry’s appeal to the jurisdiction. The conference will give a practical insight to the regulator’s own views and approach to AIFMD and will address the practitioner’s key concerns and considerations. As most asset managers and service providers are busy responding tactically to implement AIFMD and comply with regulations, this is a great opportunity to get tuned with latest developments and engage with regulator and best in-class experts to address the strategic issues ahead. We expect welcoming you together with 150+ high profile participants to this very well-regarded annual event that involves best in class industry experts very well prepared to deliver highly technical, useful and practical insights to operate under AIFMD. The Maltese financial center is gaining day after day traction to VC PERE and HF Managers These managers are keen to set-up in a pragmatic and cost effective EU jurisdiction like Malta to lock –up their operations and relocate here under the sun! We are delighted to welcome this year, Prof. Edward Scicluna, Minister for Finance , to deliver the Opening Remarks as well as Paul Schott Stevens, the Chief Executive Officer of the Washington-based Investment Company Institute who will give his views on preserving the unique role of asset management which is indeed a key concern in the face of new ongoing regulatory developments. François Golbery Chairman ESAFON, Montreux

Who should attend:

Fund Promoters, Fund Managers, Fund Accountants

Investment Managers, Head of Operations Conducting Officers, Head of Product Development

Fund Administrators Head of Business Development,

Custodians, Lawyers, Legal Departments

Risk Managers, Fund Compliance & Reporting Internal Auditors - External Auditors

mailto:[email protected]


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CONFERENCE AGENDA September 18th, 2014

NOTE: Speakers names provided are provisional. Unless otherwise indicated their acceptance is not yet confirmed. This programme is sent as a guideline for possible speakers and remains in draft format

08.15 am Welcome Coffee and Registration

08.45 am Introductory Remarks by François Golbery and the Chairman of MFSA

Prof. Joe Bannister Chairman MALTA FINANCIAL SERVICES AUTHORITY, Malta

09.00 am Opening Address Minister for Finance Prof. Edward Scicluna

09.30 am

Opening Remarks by the Chairman James Farrugia Senior Associate GANADO ADVOCATES, Malta

09.45 am AIFMD – High Level Issues Dr Christopher P. Buttigieg Director, Securities and Markets Supervision MALTA FINANCIAL SERVICES AUTHORITY, Malta

10.00 am Coffee break

Topic 1

10.30 am GOVERNANCE – COMPLIANCE – RISK MANAGEMENT Speaker and Moderator Esther Wandel Manager, Investment Funds Team FCA, London

11.00 am Panel Discussion 1: AIFMD – past- present – future

1. AIFMD past: What are the lessons learned? What were the main themes emerging during the implementation and the transitional period?

2. AIFMD present: Move to business as usual: What are the key challenges? In particular, how best to ensure good governance e.g. with respect to risk and portfolio management taking into account the structures in the alternative investment fund space?

3. AIFMD present: Issues around marketing? Is listing an alternative for alternative investment funds? Are there any issues?



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4. AIFMD Future: Views on the third country passport and private placement regimes (there is a specific session on this but this could serve as a small appetiser)

5. AIFMD Future: What will be the impact of the AIFMD for the development of the

market for alternative investments?

6. AIFMD Future: Is it only AIFMD which matters? Which other factors will influence the market? How much do other pieces of legislation have an impact such as G SIFI work, EMIR, MiFID etc.

Adam de Domenico Chief Executive Officer CORDIUM, Malta Eric Bertrand Senior Advisor SCHRODER INVESTMENT MANAGEMENT Ltd Dr. Paul Z. Magro MD & Head of Risk Management RISK CAP, Malta

&

Joe Portelli Fund Manager FMG, Malta Yves de Naurois Executive Chairman ARKUS FINANCIAL SERVICES, Luxembourg Sarah Camilleri Senior Manager - Funds Advisory Services KPMG, Malta

12.15 pm Preserving The Unique Role of Asset Management Paul Schott Stevens President & CEO INVESTMENT COMPANY INSTITUTE, Washington

01.00 pm Buffet Lunch hosted by:

TOPIC 2

01.45 pm

VALUATION Speaker: Kay Braun Partner E & Y, Luxembourg



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TOPIC 3

02.15 pm

REMUNERATION Speaker: Dr. Henning Starke Partner KING & WOOD MALLESONS SJ BERWIN LLP, Frankfurt

02.45 pm

Panel Discussion 3: REMUNERATION Moderator: Michelle Moran Partner ROPES & GRAY, London •How to apply guidance to sound & effective remuneration policy •How to approach remuneration for non-EU managers? •Key advantages through Malta Panelists:

Katya Tua B.A., LL.M.(Lond), LL.D. Partner SIMON TORTELL, Malta

TOPIC 4

03.15 pm

PASSPORTING – 3rd COUNTRY – REDOMICILIATION

Speaker Jose Moncada Senior Officer for Investment Management European Securities and Markets Authority (ESMA), Paris

03.45 pm

Panel Discussion 4: PASSPORTING – 3rd COUNTRY

• Third country managers – their experience of AIFMD to date • AIFMD solutions for US managers with Cayman funds • To what extend AIFMD ease the NPPR? • Marketing AIF in the EEA – Divergence in approaches

- The differing private placement regimes and barriers to entry for non-EU managers. - Some of the practical challenges non-EU managers face in complying with Article 42



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04.45pm

TRANSPARENCY – DISCLOSURE REQUIREMENTS – REPORTING TO INVESTORS Speaker and Moderator Peter Astleford Partner DECHERT LLP, London

05.15 pm Panel Discussion 5: TRANSPARENCY – DISCLOSURE REQUIREMENTS – REPORTING TO INVESTORS Panelists:

James Farrugia Senior Associate GANADO ADVOCATES, Malta Seonaid Mackenzie Managing Partner STURGEON VENTURES LLP, Malta

&

Dr. Joe Saliba Partner MAMO TCV, Malta Mikhaelle Schiappacasse Senior Associate DECHERT LLP, London

05.45 pm

Closing Remarks

- Some of the presumed difficulties which EU regulators face in ensuring compliance with Article 42

- The possible extension of the marketing passport to non-EU AIFMs in 2015. Moderator Dr. iur. Guenther Dobrauz-Saldapenna Director, Technical & Market Leader Regulatory & Compliance Services PWC, Zurich Panelists:

Raffaele Rossetti Attorney at Law, Partner FRORIEP, Zurich

Mike Jones Deputy Director - Policy and Strategy, JERSEY FINANCIAL SERVICES COMMISSION

Markus Lang Executive Director & Senior Counsel GOLDMAN SACHS, London

John A. Young Associate ROPES & GRAY, London

04.30 pm Coffee break hosted by:

TOPIC 5



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06.00 pm

Evening Cocktail hosted by

07.00 pm End of day one

CONFERENCE AGENDA September 19th Morning, 2014 08.30 am

Welcome Coffee and Registration

08.45 am Introductory Remarks by the Chairman James Farrugia Senior Associate GANADO ADVOCATES, Malta

09.45 am

TOPIC 6 CUSTODY Speaker and Moderator: Joseph J. Agius Deputy Director (Funds) Securities and Markets Supervision Unit MFSA, Malta

10.15 am Panel Discussion 6: CUSTODY

• How to address the steps that a depositary must fulfil to meet its role and responsibilities and avoid liabilities?

• The prime broker / sub-custodian operating model • Legal agreements key considerations • The custody lite regime – Potential extension of the depositary role • PE/RE & Loan Funds Custody Issues

Panelists:

Michael Clifford General Manager SOCIETE GENERALE SECURITIES SERVICES S.A., Dublin

Dr. Andrew Zammit Managing Partner CBS GROUP, Malta Dominique Lecocq Managing Partner LECOCQASSOCIATE



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10.45 am Coffee Break hosted by:

12.15 pm Closing Remarks by François Golbery and the Chairman James Farrugia Director Investment Services GANADO ADVOCATES, Malta

12.30 pm 12.45 pm

End of the Conference Closing Cocktail hosted by

2.30 pm Post – Conference Workshop:

“The Monitoring & Delegation of the Risk Management Function

under AIFMD”

(separate registration underneath)

TOPIC 7

11.15 am

FUND ADMINISTRATION Speaker and Moderator: Laurent Vanderweyen CEO ALTER DOMUS, Luxembourg

11.45 am

Panel Discussion 7: FUND ADMINISTRATION

• Fund Administration - Depo –lite Duties : What types of services can be provided? • Reporting Obligations to Regulator under AIFMD

Panelists:

Paul Kneen Managing Director ABACUS FUND SERVICES, Malta Nick Mahy Director PRAXIS FUND SERVICES (Malta) Ltd

Kenneth Farrugia, Chief Officer – Fund Services VALLETTA FUND SERVICES Ltd, Malta



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POST-CONFERENCE WORKSHOP

THE MONITORING & DELEGATION OF THE RISK MANAGEMENT FUNCTION UNDER AIFMD

Hilton Hotel – September 19th Afternoon 2.30 m – 5.30 pm

Main Topics Objective, role and responsibilities associated with the RMF under AIFMD

• The Manager’s duties, responsibilities and liabilities - What do Managers do in practice? • Aligning regulatory requirements and best practices. How to delegate? Key challenges

Insourcing/ Outsourcing: should RM or Portfolio be outsourced? • Re-engineering the monitoring/delegation of the RM function – Escalation Process-

Reports – Ex-post / Ex-ante consideration – Contractual agreements Specific consideration for non-financial assets Workshop Leaders

Yves de Naurois, Executive Chairman, ARKUS FINANCIAL SERVICES

Yves is the co-founder and Executive Chairman of Arkus. With 30 years in asset management, Yves demonstrates a thorough understanding of portfolio management and the compliance of Risk Management Processes to regulations and best practice. A member of investment and Risk Management committees since 1984 with major international private banks and asset managers, Yves has followed the increasing complexity of financial instruments over the past three decades. With his wealth of experience in implementing worldwide Risk Management processes and risk monitoring indicators, Yves has shared his experience with IRML's customers since he founded the company in 2003 with Peter Jeffreys, a former Fidelity Investments fund manager and founder of Funds Research.

Axelle Ferey, General Manager, ARKUS FINANCIAL SERVICES

Axelle is Arkus’ General Manager. She has close to 20 years of professional experience in financial services developed over 3 continents. Prior to joining Arkus, Axelle led large scale regulatory implementation programs – such as on the AIFM Directive - with leading pan-European asset managers and mid-sized players across Europe as a Director with EY Advisory Risk services. She also developed a good understanding of portfolio management process via her former positions as a portfolio manager and an investment officer and has a strong entrepreneurial background.

Yes, I wish to also attend the workshop (additional fee: 100 Euros)

First Name, Last Name: ........................................................................................................................

Company Name, Address: .....................................................................................................................

Date:…………………………………………………..Signature:………………………………………



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What delegates say about the 3rd Annual Malta Fund Conference – March 2013

• Most of the conference topics were very well selected and presented • Well organised • Good topics • Very useful • Very good • Good facilities • Interesting and practical • Interpreted a lot of technical details • Very interesting choice of subjects • Panels have been well prepared panels with thought provocative issues for discussion • Focused on topics well researched



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SPEAKERS

Minister for Finance Prof. Edward Scicluna Professor Edward Scicluna is Minister for Finance in the Labour Government of Joseph Muscat and a Member of the Maltese House of Representatives, having been elected from the 5th and 8th Districts in March of 2013. He was also elected in 2009 to the European Parliament where he served for four years as Vice-Chairman of the Economic and Monetary Affairs Committee and as the European Parliament's representative on the European Statistical Advisory Board (ESAC). His previous appointments included that of Professor and Head of the Department of Economics at the University of Malta; Chairman of the Malta Council of Economic and Social Development (MCESD), Chairman of the Malta Financial Services Authority (MFSA), Electoral Commissioner, Central Bank Director, Mediterranean Insurance Brokers Ltd. director, Chairman in charge of political discussion programmes organised by the Malta Broadcasting Authority (MBA), Chairman of the HSBC’s Malta Funds Sicav plc and Structured Funds Sicav plc, Chairman of CWG plc, director at San Antonio Hotel and Spa, and board member of the National Euro Change-over Committee (NECC). Internationally he carried out consultancy work for the EU Commission, UNESCO, the United Nations Environmental Programme (UNEP), the governments of Albania, Croatia, Libya and Turkey; and served on the Council of Europe Development Bank Auditing Committee. He was frequently sought for economic advice by the IMF annual delegation to Malta and Rating Agencies FitchIbca, Standard&Poor’s, and Moody’s. Prior to Malta’s entry into the Eurozone he was appointed as a Euro expert by the EU Commission. Edward graduated from the University of Oxford with a Diploma with distinction in politics and economics; from the University of Malta with a First Class Honours BA degree in Economics, and the University of Toronto with a Masters and Doctorate in Economics. Edward is married to Astrid née Bartoli and has two children Mark and Katya

Professor Joe Bannister, Chairman, MALTA FINANCIAL SERVICES AUTHORITY, Malta Joe V. Bannister is Chairman of the Malta Financial Services Authority, a position he has held since 1999. He also held the post of Chairman of its predecessor the Malta Financial Services Centre between 1995 and 1997. From 1990 to 1994 he was Chairman of the Malta’s inward investment authority (Malta Development Corporation). After graduating in science from the Universities of Malta and Oxford (UK), he held positions at both Universities and also at the Cranfield Institute of Technology (UK) and was Pro-Rector at the University of Malta from 2002 to 2006. He has served as Chairman of Tri-Med Fund Management Limited (1998 to 1999) and Mid-Med Bank Overseas Limited (1999) (both subsidiaries of Mid-Med Bank Ltd). Prof Bannister is an independent director of a number of non-Maltese investment funds (hedge funds) on behalf of international institutions.



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James Farrugia, Senior Associate, GANADO ADVOCATES, Malta

Mr. James Farrugia spearheads GANADO Advocates’ Investment Services & Funds team’s licensing and regulatory consultancy activities. Leveraging his extensive experience working with the local competent authority. Mr. Farrugia is able to offer clients regulatory sound insight and practical solutions throughout the licensing application process and on an ongoing basis.. Mr. Farrugia started his career in 2000 as a junior auditor with the then representative of Arthur Anderson in Malta. In January 2001 he moved to the Malta Financial Services Authority as a Manager within the Securities Unit responsible for supervision and subsequently licensing of investment services providers and investment funds. During his time at the MFSA, Mr. Farrugia was also MFSA's representative on CESR's (now ESMA) Investment Management Expert Group and was extensively involved in the transposition of the UCITS III Directive into Maltese law. James graduated as Bachelor of Accountancy (Hons) from the University of Malta. He was also awarded an M.A. in Financial Services from the same university and an MSc in International Securities Investments and Banking from the ICMA Centre of the University of Reading both with distinction. James is also a Certified Public Accountant and a Mansion House Scholar. James contributes regularly in international journals associated with investment funds and has addressed a number of local and international conferences focusing on this sector. James also regularly lectures on investment services and investment funds at training programs organised by the Institute of Legal Studies, the Institute of Financial Services, the Malta International Training Centre and the Malta Financial Services Authority. He is a member of the Alternative Investment Management Association and the Institute of Financial Services Practitioners.

Paul Schott Stevens, President & CEO, INVESTMENT COMPANY INSTITUTE, Washington

Paul Schott Stevens has served as President and CEO of the Investment Company Institute (ICI) since June 2004. He also is a director of ICI Mutual Insurance Co. Previously, he was ICI's general counsel. Outside ICI, Stevens' career has included varied roles in private law practice, as corporate counsel, and in government service. He was a leader of the financial services practice at the law firm Dechert LLP, and general counsel for mutual funds and international enterprise at Charles Schwab & Co., Inc. Earlier in his career, Stevens served as special assistant for national security affairs to President Ronald Reagan, as executive secretary and legal adviser of the US National Security Council, and in other senior positions at the White House and the Pentagon. Upon leaving government service, he received the Department of Defense (DOD) Medal for Distinguished Public Service, DOD's highest civilian decoration. His current community and civic activities include service on the Finance Council of the Catholic Diocese of Arlington and the executive board of the National Capital Area Council of the Boy Scouts of America. A Scholar of the House at Yale University, Stevens received his B.A., magna cum laude, in 1974; he received a J.D. from the University of Virginia in 1978.



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Dr Christopher P. Buttigieg, Director, Securities & Markets Supervision Unit, MALTA FINANCIAL SERVICES AUTHORITY, Malta Dr Christopher P. Buttigieg is a Director within the Securities and Markets Supervision Unit of the Malta Financial Services Authority and represents the Authority at various expert group meetings of the European Securities and Markets Authority. He participated in the negotiations on the Alternative Investment Fund Managers Directive as a technical expert within the European Council. Dr Buttigieg joined the Authority in 2000 as a manager within the Investment Services Unit and has gained professional experience in different areas of financial supervision including the off-site and on-site monitoring of financial institutions and the investigation and enforcement of financial product mis-selling and of financial market abuse. Dr Buttigieg is a certified public accountant, has a Masters in Financial Services from the University of Malta, a Masters in European Law and Society and a DPhil in Law Studies from the University of Sussex. He is also a lecturer in the Banking and Finance Department of the University of Malta. His research deals with the EU’s regulatory response to the 2007-2008 financial crisis and aims at contributing to the on-going debate on the governance of financial regulation within the EU. Dr Buttigieg is a Director on the board of the Malta Resources Authority.

Eric Bertrand , Senior Advisor, SCHRODER INVESTMENT MANAGEMENT Ltd Eric Bertrand is a senior advisor to Schroders and a Director of Alternet Ltd ( Alternative investments advisory services) , a director of Schroders NewFinance Capital ( Alternatives multimanager investment advisor) and a director of Schroder GAIA ( UCITS Hedge funds Sicav) . From 2002 until 2006, he was a partner at NewFinance Capital partners, a specialist multi-management group focussing on alternative investments acquired by Schroders PLC in 2006. From 1984 until 2001 , Eric worked at JP Morgan, as Managing Director, member of the European Management Committee, and co-head of the fixed income derivatives business in Europe and Asia. He has a Graduate Degree from Ecole Superieure des Sciences Economiques et Commerciales (ESSEC).

Yves de Naurois, Executive Chairman, ARKUS FINANCIAL SERVICES, Luxembourg Yves is the co-founder and Executive Chairman of Arkus. With 30 years in asset management, Yves demonstrates a thorough understanding of portfolio management and the compliance of Risk Management Processes to regulations and best practice. A member of investment and Risk Management committees since 1984 with major international private banks and asset managers, Yves has followed the increasing complexity of financial instruments over the past three decades. With his wealth of experience in implementing worldwide Risk Management processes and risk monitoring indicators, Yves has shared his experience with IRML's customers since he founded IRML in 2003 with Peter Jeffreys, a former Fidelity Investments fund manager and founder of Funds Research. Yves is fluent in English and French.



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Joseph Portelli, Managing Director and Chief Investment Officer, FMG Funds; Board Member, Malta Stock Exchange, Malta Joseph Portelli has been employed in the financial markets for over 27 years. He has been engaged in various capacities with numerous Wall Street firms including the Bank of America, Nomura Securities,Goldman Sachs, Millburn Ridgefield, Global Capital and Liongate Capital Management. He was employed as a foreign exchange dealer, portfolio manager, and futures and options trader for much of his career. He is currently employed as Managing Director and Chief Investment Officer of FMG Funds, an emerging market specialist. He sits on the board of the Malta Stock Exchange and other financial intuitions. He is also currently a visiting lecturer at the University of Malta, Banking and Finance Department.

Sarah Camilleri, Senior Manager – Funds Advisory Services, KPMG, Malta • Sarah is a fully qualified accountant, and joined KPMG in June 2013 as a Senior Manager within the Advisory Department at KPMG Professional and Industry Experience • Sarah joined KPMG in 2013, to drive the Funds Service offering across Audit, Tax and Advisory within the firm. • Sarah is heavily involved in assisting financial services entities to obtain a licence from the MFSA and is a key contact point for clients requesting ongoing advice and assistance. • She is also point of contact for all regulatory issues affecting funds, and performs several health checks on funds and their managers to ensure compliance with both local and EU regulations. • Sarah also forms part of the KPMG Investment Management EMA network. • Before joining KPMG, Sarah worked for 6 years at UBS Fund Services (Luxembourg) S.A, as an Associate Director. She was an operations and Finance Specialist working in Real Estate Funds. She was involved in every aspect of the funds, including all operational aspects, liaising with service providers, and working with Portfolio Managers, with regular investor contact. • She was also a member of the Board of Directors on the Luxembourg Funds, with AUM of over EUR 1billion, and several underlying SPVs, ensuring proper corporate governance of each entity. • Prior to joining UBS, Sarah worked at PWC Luxembourg, involved in audits of several large fund clients and holding entities Diploma • Bachelor in Accountancy (Hons.), University of Malta • Bachelor of Commerce, University of Malta

Dr Henning Starke, Partner, KING & WOOD MALLESONS SJ BERWIN LLP, Frankfurt

Dr. Henning Starke is a partner in the Frankfurt office of SJ Berwin. He is a member of the Financial Markets Group. Henning is one of the eminent asset management specialists in the German market and on the forefront of new developments: hedge funds in the past, renewable energies a while ago and currently debt/receivables funds. Besides conceiving and forming investment vehicles, he takes a keen interest in regulatory developments and presently actively participates in the AIFM implementation. Henning studied in Bonn and Freiburg and completed a doctorate on French insider trading regulation. He also holds an LL.M. degree from the London School of Economics. After starting his career structuring and documenting investment banking products for a bank, he went on to head the global legal and fund development function in an asset management firm. Since 2004, he is a partner of SJ Berwin.



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Michelle Moran, Partner, ROPES & GRAY, London Michelle Moran is an investment management partner in Ropes & Gray’s London office. Michelle focuses on advising European and U.S. clients on the establishment, authorisation and management of all types of retail and institutional investment funds domiciled in the UK, Ireland, Luxembourg and Jersey including UCITS, ICVCs, investment trusts, hedge funds, real estate funds and segregated institutional portfolios. She has experience advising on a wide variety of transactions relating to investment managers, brokers, custodians, fund service providers and operating platforms. Michelle advises on a broad range of regulatory issues with particular focus on UCITS, AIFMD, EMIR and MiFID II. Michelle held various legal positions within the Invesco Group from April 2002 to 2010, most recently serving as Head of Legal for UK & Ireland. At Invesco, she also held the position of Senior Director and had responsibility for providing legal and regulatory support to Invesco Perpetual, Global Product Range, Powershares ETF, Worldwide Fixed Income and Real Estate fund businesses together with their associated operating platforms and boards. The funds advised on are based in the UK, Ireland, Luxembourg and Jersey and are registered in up to 27 countries around the world. Michelle has participated on EU Commission Working Groups responsible for putting together proposals for change to UCITS legislation, playing a leading role in the introduction of the Key Investor Information Document as part of the suite of UCITS IV reforms. She was a Panel Member of the Expert Liaison Group and the Investment Bank Advisory Panel both formed by HM Treasury to advise on desired policy and legislative change prompted by the financial crisis. These groups focused principally on the drafting of the Banking Act 2009, related secondary legislation and client asset law and regulation. Michelle is dual qualified and provides advice on English and Irish law. Before joining Ropes & Gray, Michelle was a partner in a large global law firm where she helped establish their Dublin office. Michelle was ranked as one of its “Hot 100” leading lawyers in London by The Lawyer in 2005 and has been highly recommended as a leading lawyer in Financial Services by Chambers Europe in 2013.

Jose Moncada, Senior Officer for Investment Management, European Securities and Markets Authority (ESMA), Paris He is responsible for the implementation of the Directive on Alternative Investment Fund Managers (AIFMD), in particular of the Third Country Chapter of the AIFMD, and the EU Regulations on Venture Capital and Social Funds. He has led the negotiations of the AIFMD cooperation arrangements between the EU and non-EU supervisory authorities. Before joining ESMA, he worked as National Expert at the European Commission, in Brussels, in the Internal Market and Services Directorate General, in the Securities Markets Unit (2007 - 2009), dealing with the credit rating agencies Regulation and the Prospectus Directive review, and in the Investment Management Unit (2009 - 2011) dealing with the implementation of the UCITS Directive, the negotiation of the AIFMD with the European Parliament and the Council, and the development of the Venture Capital proposal. Previously he worked as legal advisor at the Spanish Treasury, in the Legislation and Financial Policy Unit, in Madrid (2003 - 2007), dealing with financial services rule making, which covered different EU Directives like Prospectus, Transparency, MiFID, UCITS and Market Abuse and the development of national law in the field of asset management, hedge funds, private equity and venture capital. Jose is also professor of EU Financial Markets in the University of Paris 1 (Panthéon-Sorbonne).



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Jose studied Law in the University of Navarra (Pamplona, Spain), International Law in Madrid (Sociedad de Estudios Internacionales) and EU Law in Brussels (College of Europe). He collaborates with the Universities of Navarra and Rey Juan Carlos in Spain, and has given lectures on securities markets law in seminars and conferences in London, Berlin, Amsterdam, Brussels, Madrid, Paris, Luxembourg, Guatemala, Cartagena de Indias (Colombia) and Lima. He is Civil Manager of the State in Spain since 2003.

Dr. Günther Dobrauz-Saldapenna, Director, Technical & Markets Leader , Regulatory & Compliance Services, PRICEWATERHOUSECOOPERS AG, Zurich [email protected] Dr Guenther Dobrauz-Saldapenna is Director, Technical & Markets Leader , Regulatory & Compliance Services, PWC, Zurich. He received his Masters and PhD degrees in law from Johannes Kepler University (Linz, Austria). Guenther also holds an MBA from the University of Strathclyde Graduate School of Business (Glasgow, UK) and has participated in Harvard Business School’s Executive Education Program. Before joining PwC Guenther held a similar position at another Big 4 company. Prior to this Guenther was Legal Counsel of an international hedge fund group for several years and has also served for a number of years as Managing Partner and Legal Counsel of a Swiss Venture Capital firm. Guenther has also practiced in court and with a leading business law firm. Guenther is a member of the Austrian lawyers association and a licensed business consultant. Guenther is the author of two books on investment selection as well as of 50+ publications on investment structures, fund management and HF and PE investment strategies in leading expert journals

Raffaele Rossetti, Attorney at Law, Partner, FRORIEP, Zurich Raffaele is a specialist in banking and financial law. He advises on all aspects of the structure and operation of investment funds, including their marketing and distribution. Raffaele also advises on the establishment of banking and asset management businesses in Switzerland, their structure and regulation, as well as licensing and enforcement issues within the financial services sector in general. He has a great deal of experience in real estate securitization and judicial assistance in criminal and administrative (regulatory) matters. He has worked for the Swiss Federal department of Justice and Police and for the Swiss Financial Market supervisory authority (FinMa). Raffaele obtained his law degree from the university of Zurich in 1993. his working languages are Italian, German, French and English. Raffaele is a member of the Swiss Bar association and the Zurich Bar association, president of COPTIS (the Swiss association of real estate securitization Professionals), member of the specialist international affairs committee of the Swiss Funds & asset Management association (sFaMa), and vice-chair of the clearing and settlement of Financial and securities Transaction subcommittee of the international Bar association Banking Law committee. He currently teaches at the center of Banking studies of the Ticino Banking association. he contributed to the Swiss publication compliance Management: a guide for the financial sector (2010) and is co-author of Management and supervision of Banking Groups (2009).




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Mike Jones, Deputy Director – Policy and Strategy, JERSEY FINANCIAL SERVICES COMMISSION Mike returned to the JFSC in early 2009 as Deputy Director, Securities after a 2 year secondment to the Australian Securities and Investments Commission in Sydney. Mike lead ASIC's hedge fund supervision area and was also appointed to lead a taskforce into allegations of market misconduct. Prior to joining ASIC Mike had been at the JFSC for 6 years in a variety of roles and also with Deloittes in London in their regulatory consulting area. He is currently the Deputy Director of Policy and Strategy at the JFSC and was responsible for the Island’s response to the AIFMD Directive. Mike is a chartered member of the Chartered Institute for Securities and Investments, holds the Investment Advice Certificate and the Diploma in Investment Compliance. He is also a member of the Toronto International Leadership Centre for Financial Sector Supervision and regularly represents Jersey at international fora such as IOSCO where he currently is a member of Committee 5 and the European Regional Committee. He previously worked on the group tasked with redrafting the IOSCO principles and methodology in relation to Collective Investment Funds and Hedge Funds.

John A. Young, Associate, ROPES & GRAY, London John Young is a member of the investment management and private investment funds practices in Ropes & Gray’s London office. He has wide ranging experience on the establishment of private funds and UCITS funds, related custody and administration issues, prime brokerage and derivatives and UK and European regulation which affects asset managers. He has also formed joint ventures and real estate acquisition structures for asset managers. Recently, he has had particular experience in advising U.S. asset managers on the impact of European regulation on their activities, notably the AIFM Directive and EMIR. John has also been a member of in-house legal teams, on both the “buy side” (within a hedge fund manager) and the “sell side” (supporting Barclays Capital’s prime brokerage business). He has also advised numerous US investment managers on compliance with the AIFM Directive and on European derivatives regulation and related clearing arrangements.

Markus Lang, Executive Director & Senior Counsel, GOLDMAN SACHS Markus Lang is a dual qualified lawyer in Germany and UK and has been working in the legal department of Goldman Sachs in London for over 10 years. He focuses on the institutional and private wealth management activities of Goldman Sachs in the German speaking countries with a particular eye on national and international regulatory developments. He also spent 3 years at Goldman Sachs Bank AG in Zurich.

Peter Astleford, Partner, DECHERT LLP, London Peter Astleford has more than 25 years’ experience in providing advice to fund managers, banks, brokers and corporates with regard to financial services regulatory work and onshore and offshore funds. He is co-chair of the firm’s global financial services group and heads the group in Europe. Peter Astleford has advised on structuring and cross border business in many jurisdictions and is a lead author to, inter alia, How to Start and Grow a Successful Hedge Fund in Europe and Comparative Jurisdiction Guide: Where to Set up and, Perhaps, Manage a Hedge Fund published by ISI and Hedge Funds and the Law published by Sweet & Maxwell.



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Peter Astleford is ranked in The International Who's Who of Private Fund Lawyers 2014 and is recommended as a leading lawyer in his field in all the main independent directories, including Chambers UK 2013 and also ranked in the elite “Leading Individuals” in Legal 500 UK 2012. He is noted in the 2012 edition of Chambers UK for his “attention to detail and strong negotiation skills”, in 2011 as “a vastly experienced lawyer who takes a commercial approach to problem solving” and in the previous year’s directory as “one of the best hedge funds lawyers in London”. Peter Astleford is nominated for the second edition of the Guide to the World's Leading Banking, Finance and Transactional Lawyers and for the Best of the Best Expert Guides 2013 as one of the outstanding practitioners in the area of Investment Funds, and is placed in the world’s top 30 lawyers in this field. He has also been selected to the Thomson Reuters London Super Lawyers 2013 list. Peter Astleford qualified as a solicitor in 1986 with Linklaters, where he practiced in London and Brussels. In 1990, he joined INVESCO MIM PLC, the London listed holding company to the international financial service group, as group legal adviser and later as head of corporate services before returning to private practice in 1993. Education: University of Southampton School of Law, LLB, 1983, Honours. College of Law, Guildford, 1984, Honours. Bar Admisions/Qualifications: England and Wales; Solicitor , Law Society of Ireland.

Seonaid Mackenzie , Managing Partner , STURGEON VENTURES LLP, Malta Seonaid Mackenzie has had a 30 year career in the City, having been a stockbroker, fund manager, corporate financier, as well as operating UK funds now known as AIFs, and fund raising for private companies and funds. Seonaid founded Sturgeon Ventures LLP as a "single family office" in 1998 investing in public and private companies for a US family. The Principal died in 2004, leaving behind a trust for a child. Those funds today are passively managed, and so Sturgeon, took a new active business line and became a pioneer as “The 'Regulatory Incubator' a phrase coined and trade marked by Sturgeon for financial services start ups", known also as an FCA Umbrella, or regulatory hosting platform and are the longest wholesale incubator in London (since 2001). Their clients include fund managers with various strategies, third party fund raisers, corporate finance firms, family offices, amongst others. Sturgeon’s team offer regulatory and risk services and start up mentoring, a virtual Chief Operating service for fund launches, and often assist overseas firms starting in London. Sturgeon offer AIFM Solutions for those requiring a Small or Full AIFM, or advice on marketing and/or Risk Management as well as delegation portfolio management services from UCITs managers. Sturgeon work with leading law firms, accountancy firms, and most well known compliance firms. Although jurisdiction neutral; Sturgeon have assisted in a number of firms within, setting up funds in Malta, UK, Ireland and Cayman, and has incubated in excess of 70 companies, since the birth of the Incubator . Seonaid is a regulated investment manager in a number of jurisdictions and sits on a number of investment committees in Malta and can sit on them in Guernsey too. Sturgeon is a Sub-threshold AIFM in the UK, their AIFM Solutions include a full AIFM in Ireland, and Sturgeon Ventures can be delegated back as the Portfolio Manager in the UK from self managed full AIFMs in any EU jurisdiction. A number of US managers are looking to use the SV AIFM Solutions and open a marketing office within the Incubator in London. Seonaid’s consultants are predominantly working mothers, as her model is a mix of virtual working and client offices with flexible hours covering numerous time zones, with an office in SW15 and meeting rooms in SW1. Seonaid was a finalist in 2012 Women of Achievement in the City won by American Express, and in 2013 a Winner of Empowering Women in the US. In addition in 2013 Sturgeon Ventures was the Winner of Reuters



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Accelus Compliance Innovator of 2013 and was short-listed for best in-house Compliance Training in a Regulated Firm. Sturgeon was also the Winner of Acquisition International Venture Catalyst 2013 and again in 2014. Sturgeon also recently was awarded Most Trusted Regulatory Incubator. Seonaid is a Freeman of London with The Worshipful Company of International Bankers, and a Member of the Women’s President Organisation (WPO) and a Chartered Member of The Securities Institute. Seonaid has two school aged children, and her down time is spent with her puggle – Jazz.

Dr. Joe Saliba , Partner, MAMO TCV, Malta Dr. Joe Saliba is a partner with MAMO TCV since 2008. His practice areas does include Corporate Law, Financial Services, Real Estate & Development Law, General Commercial Law. He is a Member of the Malta Chamber of Advocates and holds a Doctor of Laws (1997, University of Malta) and a Master of Laws Degree - Financial Services (2000, University of Malta).

Mikhaelle Schiappacasse, Associate, DECHERT LLP, London Mikhaelle Schiappacasse advises on the establishment, listing, management, marketing, and restructuring of investment funds, with an emphasis on hedge funds. She also acts for investment funds and their managers on general corporate, regulatory and compliance matters as well as negotiating prime brokerage and derivatives documentation. Ms. Schiappacasse provides investor-side advice in connection with investments into a variety of fund structures. Prior to joining Dechert in 2006, Ms. Schiappacasse clerked for the Honorable Alexandra DiPentima of the Connecticut Appellate Court.

François Reyl, Chief Executive Officer, REYL & CIE

Area of expertise: François Reyl joined REYL & CIE in 2002 as Head of Development. He

became CEO in 2008. Under his stewardship REYL & CIE has expanded into new lines of

business – including the creation of the Reyl Funds range and the launch of Reyl Private

Office – while remaining faithful to its core values.

Career: In 1989 he joined Jones, Day, Reavis & Pogue in New York, before moving to

Paris as an attorney in the M&A Group. In 1994 he joined Crédit Suisse First Boston in

London, where he co-founded the LBO Coverage Group and executed numerous mergers,

acquisitions, financing deals and IPOs as Managing Director.

University education: Member of the Bars of New York and Paris, he is a graduate of the

Université de Genève (Lic. Law, 1987, D.E.S., 1988) and of the New York University (MCJ,

1989).

Joseph J. Agius, Deputy Director (Funds) Securities and Markets Supervision Unit, MFSA, Malta Mr Joseph J Agius is currently the Deputy Director (Funds), Securities and Markets Supervision Unit, Malta Financial Services Authority. He started his career with Mid-Med Bank Ltd. in 1978. Up to 1991, he held various positions in the branch network. In 1992 he was deployed as a credit analyst at Mid-Med Bank’s Head Office Credit Department where his role included responsibility for credit analysis preparation. In 1997, he formed part of a small team tasked with setting up Mid-Med Finance Ltd., the group’s merchant



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banking arm and later on that year he was appointed as deputy head of this Unit. During this period, he was also partly seconded to Malta Development Corporation, with duties relating to project evaluation and appraisal as well as investment promotion. From 2000 to 2014, he was deployed in various senior positions within HSBC group companies relating to funds, including investment management, fund administration and custody and fiduciary services.

Michael Clifford, General Manager, SOCIETE GENERALE SECURITIES SERVICES, Dublin Michael Clifford is responsible for hedge fund development in Société Générale Securities Services. He has over 18 years’ experience within the securities services industry. Mr. Clifford started his career with an accountancy practice in Ireland in 1993. In 1996 he joined a US fund administration company as an accountant. In 2007 he joined Barep Asset Management (a subsidiary of Société Générale) as a fund accounting supervisor and then moved to the role of financial controller. He joined Société Générale S.A., Dublin Branch as deputy manager in 2001 where he was responsible for trustee and custody services for Irish domiciled and non-Irish funds. The collective investment schemes involved were made up by inter-group business and third party clients, including hedge funds, private equity structures and UCITS. In July 2007, Mr Clifford was appointed as General Manager of SG Dublin Branch with responsibility for overall operations and strategic development. In 2012 he assumed the responsibility for hedge fund development within SGSS. He sits on various internal SGSS committees responsible for the implementation of the AIFM Directive and he has served as a member of the Irish Funds Industry Association Trustee Committee. In his role he has been exposed to the strategic and practical issues associated with alternative investments and the AIFM Directive including pricing, custody, legal and prime brokerage. Mr. Clifford also has sat on the board of three Société Générale Corporate Investment Bank Irish domiciled companies. He holds a Bachelor of Business Studies degree and a Masters in Business Administration, from the Manchester Business School.

Dr. Andrew Zammit ,Managing Partner, CBS GROUP, Malta Dr. Andrew J Zammit is the founding and Managing Partner of CSB Advocates and Director – Legal & Regulatory to the CSB Group. With 14 years’ experience in the corporate and financial services field, he heads the firm’s Corporate & Financial Services practice, working primarily in corporate structuring, mergers and acquisition transactions, regulatory matters, hedge fund registration, and finance. After reading law at the University of Malta at undergraduate level and obtaining a Doctor of Laws degree in 1999, Andrew furthered his studies at the London School of Economics and Political Sciences, where he was conferred with a Masters of Law degree in company law, financial services law and international trade law. He was called to the bar in Malta in 2001 and has since been engaged in private legal practice in Malta. Andrew is a member of the Chamber of Advocates, the International Bar Association, the Institute for Financial Services Practitioners, FinanceMalta, the International Tax Planning Association, and International Masters of Gaming Law. Andrew lectures Corporate and Business Law and regularly contributes academic articles to various publications and online information resources.



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Dominique Lecocq , Managing Partner, LECOCQASSOCIATE Dominique Lecocq is a partner at lecocqassociate. He was admitted to practice in Switzerland and in Malta. He graduated from the School of Law of the University of Geneva in 1999 and obtained a Master of Laws in Securities and Financial Regulation from Georgetown University in 2005. Before founding lecocqassociate, Dominique Lecocq served with the London office of Radcliffes Solicitors, in 1998. In 1999 he worked as a foreign associate with Pinheiro Neto, Advogados, in São Paulo, Brazil. From 2000 to 2004, he joined the Regulatory and Capital Market Practice Group of Pestalozzi law firm in Geneva and Zurich as an associate. In 2005, he interned with the Commodities Futures Trading Commission in Washington DC. Finally, from 2005 to 2007, he served with the Corporate Finance and Regulatory Practice Group of Schellenberg Wittmer, in Geneva. He founded lecocqassociate in 2007 and now has three offices, in Geneva, Malta and the United Arab Emirates. Dominique Lecocq continuously publishes in the regulatory banking and insurance as well as the collective investment schemes fields. Dominique Lecocq is a member of the Geneva Bar Association and the Swiss bar Association.

Laurent Vanderweyen, Chief Executive Officer, ALTER DOMUS GROUP Before joining Alter Domus in January 2012, Laurent was Managing Director and Country Executive at JP Morgan Bank, Luxembourg. He also served as Managing Director of RBC Dexia Investor Services Luxembourg and was a Member of the Group Executive Committee from 2006 until 2009. Laurent also held Senior Executive roles for Dexia Fund Services and Dexia Bil from 1993 until 2006. Laurent has a Bachelor degree in Business Administration from the University of Liège (Belgium).

Kenneth Farrugia, Chief Officer – Fund Services, VALETTA FUND SERVICES Ltd, Malta Kenneth currently holds the post of Chief Officer Fund Services and sits on the Executive Committee of the Group. He is responsible for the bank’s two subsidiaries: Valetta Fund Services Limited, the Bank’s fund servicing arm and Valetta Fund Management Limited, a joint venture between Bank of Valletta plc and Insight Investment Management, a full owned subsidiary of Bank of New York Mellon. Kenneth also serves as Chairman of Malta Fund Industry Association and Chairman of Malta Investments plc which is listed on Malta Stock Exchange.

Nick Mahy, Managing Director, Praxis Fund Services (Malta) Limited

Nick heads up Praxis Malta and joined the Praxis Group in 1999. In 2008 he relocated from Guernsey to Malta to head up the Maltese office where he has overall responsibility for the development of the Maltese based operations. Since joining the Group he has taken a leading role in the development of systems and has been instrumental in the design of the Groups specialist proprietary fund administration software. He has been actively involved in a wide range of Fund clients investing through a range of structures and domiciles into a broad spectrum of asset classes including property, equity, private equity, bonds and funds of hedge funds. Nick is a director of a number of companies and collective investment schemes.Nick previously worked for PKF in Guernsey and he trained with Deloitte, Haskins & Sells and subsequently qualified as a Certified Accountant.



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PARTNERS

The Malta Financial Services Authority (MFSA) is the single regulator for financial services activities in Malta. It regulates and supervises credit and financial institutions, investment, trust and insurance business and also houses the country's Companies Registry. The MFSA issues guidance notes, monitors local and international developments, works with relevant parties on legislative matters, and plays a major role in training. It encourages high standards of compliance and runs a consumer affairs unit.

Abacus Fund Administration Limited (“Abacus”) is a leading fund administration provider specialising in the provision of fund services to European fund managers and sponsors. Abacus provides full-service concept development and administration solutions for a wide range of third-party funds including fund development, corporate, valuation and registration services.

Our fund administration services cover all asset types including traditional equity, bond and cash funds through to alternative assets, real estate or trading companies. As a flexible and proactive administrator, Abacus has a depth of experience in helping clients to find the best solutions for their bespoke requirements. Abacus is positioned to offer an efficient cost base and a client service ethic which is designed to add speed, quality and flexibility to our offering.

GANADO ADVOCATES is a leading business law firm based in Malta. Consistently ranked by clients, peers and independent directories alike as a top-tier law firm in all our core sectors, we aim to provide our clients with sound yet practical legal advice based on our unparalleled experience and industry insight. Our lawyers and other professionals are not only recognised leaders in their legal practice areas but also in the industry sectors which we service. It is not just legal excellence that sets us apart from our competitors; clients choose us because we know their industry and what is relevant to their business.



http://www.ganadoadvocates.com/about/awards/

http://www.ganadoadvocates.com/expertise/industry-areas/

http://www.ganadoadvocates.com/people/

http://www.ganadoadvocates.com/expertise/legal-areas/

http://www.ganadoadvocates.com/expertise/industry-areas/

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PARTNERS

Our Services

Corporate Services Alter Domus is a leading provider of professional administration services for multinational corporations and alternative investment funds. With a dedicated team of nearly 650 professionals globally, we offer services that support the accounting, tax, regulatory and compliance requirements of the legal entities established in each of the jurisdictions in which we operate. More information

Fund Services

Alter Domus has dedicated teams focusing on private equity, infrastructure, real estate and hedge fund clients. With over 70% of our revenues derived from the alternative investment fund industry, we have gained an in-depth knowledge of the global technical and operational issues that are necessary to support expectations from both general and limited partners. More information

Financial Reporting

We provide expertise in the preparation of financial statements for mainstream and specialised investment funds. Our practice compiles financial reports in accordance with the standards and practices applicable to each fund’s local jurisdiction, and we also produce statements according to international standards. More information

Sturgeon Ventures was launched in 1998, and is the Pioneer of Regulatory Incubation, also known as the FCA Umbrella or Regulatory Hosting in the United Kingdom, having incubated more than 70 firms since this part of the business developed. Sturgeon's AIFM Solutions are numerous with a Small AIFM in London, a full AIFM in Dublin, and a well developed network in Malta for many start ups with a self managed funds, with a member of Sturgeon Ventures on the Investment Committee whose Board delegate Portfolio Management back to SV in London. Sturgeon have recently launched a German Fund with SV as the delegated portfolio manager from the AIFM, and have numerous new AIFs in the wings using Sturgeon's solutions. Sturgeon are well known to the Maltese services providers and the regulator, and Seonaid Mackenzie and her team have for many years now been a strong advocator of Malta as a Fund Jurisdiction, introducing many UK legal firms to local lawyers and other service providers.



http://www.alterdomus.com/Services/CorporateServices.aspx

http://www.alterdomus.com/Services/FundServices.aspx

http://www.alterdomus.com/Services/FundServices/FinancialReporting.aspx

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PARTNERS

In 2007 lecocqassociate was formally organised as a law firm in Geneva, but the firm’s roots began in the 1990’s. Dominique Lecocq founded l ecocqassociate Geneva as a family firm followed by the incorporation of lecocqassociate ltd in Malta, and most recently added lecocqassociate Dubai to the portfolio of offices. lecocqassociate continues to grow steadily by adding attorneys with unique and diverse backgrounds. Today, lecocqassociate Geneva, Malta and Dubai boast around 15 diverse lawyers who have the experience, maturity, and legal skills to satisfy every clients’ needs with utmost professionalism and diligence. lecocqassociate’s geographic expansion has also been directly related to client’s needs. The opening of the Malta office provided an alternative jurisdiction based in the EU which facilitates the marketing of the firm products to other European entities. Due to the extreme pressure placed by new regulations on taxation in Europe, many financial institutions are diversifying their offices in jurisdictions offering less or no taxation regimes. Due to this very reason, lecocqassociate opened its office in Dubai, to direct and divert its clients to invest and set up their business in Dubai. The Dubai office of lecocqassociate specialises in structuring and incorporating financial and non-financial companies. It also provides cost-effective corporate advisory services to start-up and established companies. AREAS OF PRACTICE Regulatory banking and broker-dealing: the firm advises on banking and brokerage operations; formulates the request for regulatory license of banks and brokerage firms; advises and assists in the most appropriate and cost-efficient structuring and organisation of an operation. lecocqassociate deals with all banking regulatory legal aspects, including, drafting of all internal required directives and best practice circulars, banking secrecy, cross border, etc. Collective investments and investment service providers: the firm specialises in the incorporation, structuring and licensing of Swiss, Maltese, Cayman Islands, Luxembourg and Emirate collective investment schemes, ETF and ETC. Private equity: lecocqassociate assists clients in relation to structuring project finance and venture capital; corporate acquisition and real estate acquisitions. Regulatory insurance: the firm advises on insurance operations in Switzerland and the EU; licensing of insurance lines and requests for business approval; insurance portfolio transfers; structuring of life policies including unit-linked policies; and also advising on tied assets and solvency margins. Mergers and acquisitions and capital markets: lecocqassociate structures asset and share deals, whether listed or OTC; carries out all the necessary due diligence; lists and delists securitisation vehicles; and also drafts the necessary offering documents. Taxation: advises on corporate tax matters, including tax policy, tax management, and corporate reorganisations; financial planning for individuals and families. Corporate finance: advises in relation to equity and debt securities, credit facilities, up-stream loans and guarantees, financing transactions, securitisation, group (re)structuring and joint-ventures. Employment and benefit plans: offers legal advice on employment law and current employment and benefit plans, which services would include, amongst others, the review and/or drafting of employment contracts, manuals, handbooks and incentive plans. Competition law/anti-trust: advises on Swiss, UK, French and EU merger control and antitrust matters, including abuse of dominance, cartel defence and litigation work. The expertise of the firm covers a range of industry sectors including consumer goods and retailing, transport, media and entertainment, insurance. Structured products, securitisation vehicles: advises on structured products and securitisation products, setting up of securitisation vehicles, drafting of all required documents in these respects.



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The REYL Group The REYL Group is an independent banking group. Our modern approach to banking enables us to adapt to industry developments and respond to the needs of different players in the market. We place great emphasis on entrepreneurial values and the Group's development, notably in the definition of new services, is driven by an enterprising client base. We provide highly personalised services and high value added investment solutions that correspond to the complex business needs and lifestyles of our clients. In all our business lines, Wealth Management, Private Office, Corporate Advisory & Structuring and Asset Management, our objectives remain consistent, namely:

• High quality services founded on trust, • Seamless standards of performance, that are sustainable over time, and • Constantly evolve to closely accompany our clients in their ongoing development.

History The Group was formed in 1973 by Dominique Reyl to offer high-end management services to private clients. The bank has been evolving since then, with a focus on providing clients with management strategies, personalised services and a policy of complete availability. In 2002 REYL embarked on a phase of strong growth fuelled by the expansion of its activities and the opening of subsidiaries abroad. REYL & CIE launched its Reyl Funds product range in 2003, its private office activity, Reyl Private Office, in 2006 and its Corporate Advisory & Structuring services in 2012. REYL’s presence in France started in 2004, while its Reyl Private Office subsidiary in Luxembourg was formed in 2009, followed by Reyl Singapore in 2010, Reyl Zurich in 2011, Reyl Lugano in 2012 and Reyl London in 2013. Facts and figures The REYL Group has offices in Geneva, Zurich, Lugano, Paris, London, Luxembourg, Singapore and Hong Kong. It manages assets totalling over USD 10 billion and employs 160 people (figures as at 31/12/2013).

Swissquote – The Swiss Leader in Online Banking As a leading provider of online financial services, Swissquote offers innovative solutions and analysis tools to meet the wide range of demands and needs of its clients. As well as various online trading services, the user-friendly platform also provides solutions for eForex, ePrivate Banking, eMortgages, and flexible saving accounts. In addition to a low-cost service for private clients, Swissquote also offers specialized services for independent asset managers and corporate clients. Swissquote is quoted on the SIX Swiss Exchange (SQN) and holds a banking license. The company is subject to supervision by the Swiss Federal Financial Market Supervisory Authority (FINMA) and is a member of the Swiss Bankers Association. SWISSQUOTE FINANCIAL SERVICES (MALTA) LTD Swissquote Group established a trading operation in Malta in 2012, obtaining a Category 3 licence under the Investment Services Act. The Company started offering FX trading services under the name of Swissquote Europe Ltd holding licence number C57936, and in 2014 started offering custody services through a Category 4a licence as Swissquote Financial Services (Malta) Ltd. As a custodian bank for funds /collective investment schemes in Switzerland, Swissquote Bank Ltd. holds many years of experience in the custody of fund assets, and is responsible for the issue and redemption of units as well as ensuring compliance with laws and investment regulations



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MGFF, Management Global Family & Fund Advisory Services Ltd is a global independent advisory firm registered in Dublin offering advisory services to Fund Promoters and Asset Managers willing to register and administer their product range in the most appropriate cost-effective European jurisdiction to ensure the distribution of their products in compliance with European regulations. MGFF offers a large range of tailor-made fiduciary services to Family-Owned Businesses & Commercial Companies, Entrepreneurs and Family Offices willing to ensure the tax effectiveness, the protection and the long-term preservation of their assets. Web Site: www.mgffadvisory.com

MEDIA PARTNERS

The unique concept of the Absolut|report has entered its 10th year. Focusing on asset management, investment innovations and new ideas, our publications Absolut|report, Absolut|performance and www.absolut-report.de media along with the weekly newsletter offer new perspectives for institutional investors. We consider ourselves a knowledge platform for decision makers.



http://www.mgffadvisory.com/

http://www.absolut-report.de/

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ESAFON, The European & Swiss Association of Asset and Fund Managers, Family Offices and Strategic Advisers

. ESA

If you are an Asset Manager, a Fund Manager, the Head of a Family Office or a Strategic Adviser, Join ESAFON, the European & Swiss Association of Asset and Fund Managers, Family Offices and Strategic Advisers

ESAFON is a non-profit Association located in Montreux; the ESAFON objectives are to promote the cooperation between Switzerland and Europe and to facilitate the exchanges between professionals in the area of Asset Management & Family Wealth Management, to allow its members to discuss together and to implement the new regulations and the best management practices, with an objective geared towards harmonisation and transparency. ESAFON members network with major international leaders through think tank meeting and social events as private luncheon, dinners, workshops, conferences and forums.

- Their details are added to the ESAFON DIRECTORY which is updated on a monthly basis. - They receive a personal ESAFON Membership Card and benefit from a 50% discount on their registration fee

for all ESAFON Conferences during one year.

- They have access to the ESAFON website: www.esafon.com

- The Association supports the interests of its members to Regulatory Bodies in Switzerland as well as in various European countries

- The Annual Individual Membership Fee 2014 is 500 CHF.

- The Annual Institutional Membership Fee 2104 is 1’500 CHF. It allows each Institution, Member of ESAFON, to register until 5 executives as ESAFON Member.

- ESAFON Honorary Membership 2014: this membership is restricted to the Donors willing to support the Association ESAFON for one year : from 3’000 CHF

- Please find ESAFON MEMBERSHIP APPLICATION FORM below.

For more information or to apply for your Membership to ESAFON, please contact: Dr Anne Golbery, Managing Director, ESAFON

e-mail: [email protected], direct phone: 00 41 22 319 69 04

Please return the ESAFON Application Form to our Customer Service by email: [email protected], or fax: +41 22 319 69 01





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ESAFON MEMBERSHIP APPLICATION FORM 2014

Name: ............................................................................................................................................

Job Title: .......................................................................................................................................

Company: ......................................................................................................................................

Address: ........................................................................................................................................

City & Zip-Code: ..........................................................................................................................

Country: ........................................................................................................................................

Telephone: .....................................................................................................................................

Fax: ................................................................................................................................................

E-mail: ...........................................................................................................................................

Yes, I wish to enter the non-profit Association ESAFON, The European & Swiss Network of Asset and Fund Managers, Family Offices and Strategic Advisers I am introduced by:……………………………………………………………….

Yes, I send you a short biography by e-mail with a colour portrait to be published on the private ESAFON website

Individual Subscription 2014 (500 CHF)

Institutional Subscription 2014 Until 5 members (1’500 CHF)

Honorary Membership 2014 Donor : ………………………

Yes, I will send you the payment upon receipt of your invoice Date: ……………………………………………………………………………………………... Signature:………………………………………………………………………………………



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ESAFON TEAM

François Golbery, Chairman, ESAFON, Montreux François Golbery is the Chairman of ESAFON, a non-profit independent association registered in the Registrar of the Federal Office in Bern with the objective of promoting and facilitating best practices amongst professionals from the asset, fund and wealth management industries across Switzerland and Europe. François, through its long-term involvement at MGI in organizing high-level expert – driven conferences addressing the strategic consequences of EU principle-led directives within the Lamfalussy procedure in Europe has been at the forefront of interative developments towards the best practices within the financial industry across Europe.

Established in Switzerland since 1997, he contributes and helps financial centres to formulate their strategic positioning and train market participants to implement change in day-to-day business practices. He has built –up a personal network of high calibre experts that are instrumental to forge the future and do participate in high level think tanks.

François has been invited by the future 2014 European Commission to provide insight on ELTIF’s and necessary updates on UCITS as the financial markets division prepares its work program. Prior to MGI, François Golbery has served in various senior positions in Marketing and Finance within multinational companies. In 1988, he started-up and grew the French subsidiary of IIR in Paris as the most profitable entity of the group. He was elected Manager of the Year in 1992 / 1993 and received his prize from Edward de Bono, the originator of the lateral thinking concept. He took over the responsibility of the Portuguese office as well.

He holds an MBA in Finance from the University of Hartford (Connecticut), under the patronage of Michel Barnier, currently the Commissioner of the Internal Market Division of the European Commission in Brussels. François Golbery is a member of the Royal Ocean Racing Club in London.

Anne Walhain Golbery, Managing Director, ESAFON, Montreux Anne Walhain Golbery is Managing Director and Company Secretary of ESAFON, a non-profit independent association. Anne is Head of the Global Operations including RP, Partnership, Customer Service, Marketing, IT, Finance, and Human Resources. Prior to ESAFON, Anne Walhain Golbery has been with François Golbery, the co-founder and co-owner of MGI Management Global Information SA, managing the global operations of MGI for 15 years. Previously, as IT Program Manager, Anne has been designing and implementing Technical Information Systems for the Space Electronic Equipments at EADS, France, for 12 years. She holds a Doctorate in Atomic Physics-1979, University of Caen, France. Two from among her five children are running their own Family Business in the 3rd generation.



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To review Partnership Opportunities,

please contact Dr Anne Golbery , Managing Director, ESAFON at [email protected]

ESAFON PARTNERSHIP PACKAGES 2014

“EXHIBITOR PARTNER”: Euro 3’450 • partner logo inserted in the conference brochure • an exhibition space in the conference foyer for the duration of the conference • a personalised invitation to send to your contacts with a 30% discount for any registration for your

employees or your contacts • your Corporate Profile inserted on our web site with a link to your web site • 2 free conference invitations for your colleagues or clients • 2 free conference passes for your colleagues present on your stand • the complete mailing list of the conference participants

“FIRST CLASS PARTNER”: Euro 4’970

• a 30 minute non-commercial presentation as a speaker • a personalised invitation to send to your contacts with a 50% discount for any registration for your

employees or your contacts • your Corporate Profile distributed to the participants • 2 free conference invitations for your colleagues or clients • the complete mailing list of the conference participants

“SILVER PARTNER”: Euro 6’480

• partner logo on front page of the conference brochure • a 30 minute non-commercial presentation as a guest speaker with a formal introduction from the chairman • your Corporate Profile inserted on our web site with a link to your web site and distributed to all the

participants • a personalised invitation to send to your contacts with a 50% discount for any registration for your

employees or your contacts • 3 free conference invitations for your colleagues or clients • the complete mailing list of the conference participants

PLATINUM PARTNER”: Euro 7’900

• all the conditions applying to SILVER partnership, plus: • lunch or cocktail offered by the company (luncheon costs included in the total package of Euro 7’900) • a partner's logo appears on the schedule in participant folders

“GOLD PARTNER”: Euro 9’790

• all the conditions applying to EXHIBITOR partnership, plus: • partner logo on front page of the conference brochure • lunch or cocktail offered by the company (lunch included in the total package of Euro 9’790 • a partner's logo appears on the schedule in participant folders • a 30 minute non-commercial presentation as a guest speaker with a formal introduction from the

conference chairman • 6 free conference invitations for your colleagues or clients

“LEAD PARTNER”: Euro 13’320

• all the conditions applying to GOLD partnership, plus: • exclusivity of partnership to company's market sector

The ESAFON Partners take in charge their travel and accommodation expenses A 20% discount is granted on the second Partner Contract signed in 2014. The 1

0th Annual Real state



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ESAFON CONFERENCES & SEMINARS 2014

THE FUTURE OF SWISS ASSET MANAGEMENT (C1426)

The 4th Annual Asset Management Conference Structuring Asset Management in Switzerland post Reforms Selling into Europe post AIFMD and MiFID II April 10th , 2014 – Grand Hotel Suisse Majestic – Montreux With the exceptional participation of : Laurent Degabriel Laurent Degabriel heads the Investment & Reporting Division at ESMA and as such has set the technical standards ahead of MiFID II and MiFIR and is advising the European Commission on the single rule book. Laurent Degabriel is also involved with AIFMD, in particular with regards to MoUs and 3rd Country Passporting. In partnership with: SPEECHLY BIRCHAM - MGFF

MFID II SEMINAR (S1401) June 11th , 2014 afternoon – Grand Hotel Suisse Majestic – Montreux Market infrastructure – High Frequency Trading Impact of banning inducement on fund distribution and open architecture Rethinking the advisory business Complex and non-complex products The Seminar Leader: Dr. Heimo Plössnig, Managing Director, ASSENAGON ASSET MANAGEMENT S.A., Luxembourg

AIFMD One Year After (C1415-M) The 4th Annual Malta Fund Conference IMPLICATIONS FOR FUNDS, MANAGERS & SERVICE PROVIDERS September 18 & 19 Morning, 2014 – Hilton Hotel – Malta In partnership with: MFSA (Malta Financial Service Authority) – Strategic Partner ABACUS – GANADO ADVOCATES – ALTERDOMUS – LECOCQASSOCIATE MGFF – REYL - SWISSQUOTE

PERE INDUSTRY SERVICING (C1409) AIFMD Implementation Key Issues The 11th Annual Private Equity Fund Servicing Conference October 16th , 2014 – Parc Plaza Hotel – Central Luxembourg In partnership with:

BAKER & McKENZIE – LUXEMBOURG INVESTMENT SOLUTIONS - MGFF

MALTA FAMILY LAW & FAMILY WEALTH FORUM (C1417) Servicing & Protecting Family Interests & Wealth through Malta November 25, 2014 – Hilton Hotel - Malta In partnership with:

MGFF



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If you would like: To receive the programme of a future ESAFON conference, to pre-register, or to participate as a speaker or a partner,

Please return the Coupon to François Golbery

by email: [email protected], or by fax: +41 22 319 69 01 (ECS 02-2014) First Name, Last Name: .............................................................................................................

Job Title: ....................................................................................................................................

Company: ...................................................................................................................................

Address: .....................................................................................................................................

City & Zip-Code: .......................................................................................................................

Country: ......................................................................................................................................

Telephone: ............................................. Mobile: . .................................................

E-mail: ..........................................................................................................................................

Yes, I would like to receive the above programme (please tick the appropriate programme) and pre-register

Yes, I would like to receive your partnership opportunities

Yes, I would like to participate as a speaker on the following topic (be as specific as possible)

Topic:..........................................................................................................................................................................................................................................................Date: …………………………………………………………………

Signature: …………………………………………………………



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General Conditions

o You registration is valid for one delegate only. o Confirmation and Payment: (NOT APPLICABLE TO PARTNERS' GUESTS)

• Conference fees must be paid prior to the event. Payment has to be received before entering in the conference room.

o Conference Participant List: Registrations received 6 open days before the conference will be listed on the ESAFON Booklet list given to all participants.

o Participants’ substitutions: • Please kindly send a written notice to [email protected] before 6 open days in order to have

the correct name appear on the ESAFON Booklet. • One registration is valid for one specific delegate. Splitting the conference days between two

participants will be subject to a charge of 300 EUR. • Part time substitution is not possible

o Cancellations: must be made sending an email to [email protected]. If the cancellation is received one month prior the conference, a credit note will be issue minus 10 % of handling charge. For cancellations received less than one month prior the conference, the full cost is due. Cancellation up to one month by writing before the conference will support an administrative charge of 10% of the fee. Prior to the one month the full fee is due but a substitute delegate may attend in your place if required.

o Late Registrations: Registrations made after 6 open days are welcome, but will not be listed on the ESAFON Booklet.

Hotel Information - Venue/Opening hours of the welcome desk

ESAFON has a preferential rate for your booking at HILTON, Malta. We will organise your hotel reservation. You can access to the hotel booking form by sending an email at [email protected]. Please call our Registration Desk as soon as possible to book your room to avoid disagreement as the number of rooms is limited. ESAFON Registration desk: + 41 22 319 69 00

Venue: HILTON MALTA Adress: Portomaso I St. Julian's PTM01 I Malta tel: +356 2373 3630 I fax: +356 21 386 629 Opening Hours of the welcome desk: 8.30 – 17.30 hours

ESAFON COMMITMENT This programme has been specially designed in compliance with the quality criteria set by ESAFON. The topics covered are issued from our research and the panel of speakers has been carefully selected on the basis of their credentials and relevant experience. Therefore, this programme is the sole property of ESAFON and cannot be copied under any circumstances. About ESAFON, your Strategic Partner to Global Ethical & Sustainable Finance: ESAFON is dedicated to provide with strategic education and advisory for Global, Ethical & Sustainable Finance. Over the last 16 years, ESAFON has been developing 300 highly focused and in-depth conferences addressing emerging trends and regulatory development affecting the Fund and Wealth Management Industry always from a long term and global perspective, in EUROPE, US, LATAM and ASIA. In Europe, ESAFON is at the forefront to highlight European initiatives within the Lamfalussy procedure. Its total independence and ingoing privileged relationship with best talented global leaders and experts ensure a strategic approach to address the most relevant issues through its conferences. The ESAFON values: customer centric, innovative, global vision, scope and quality oriented, rigorous code of ethics, socially responsible.

CONFERENCE INFORMATION






http://www.hiltonmaltahotel.com/

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To register Please fax or e-mail back this Application Form fulfilled and signed to our Customer Service

by e-mail at [email protected] or by fax at + 41 22 319 69 01

CONFERENCE:

Title: AIFMD ONE YEAR AFTER Conference Code: C1415M Date: September 18th & 19th Morning, 2014 Location: HILTON – St. Julian’s – Malta

REGISTRATION: Name ...................................................................................................... First Name ........................................................... Position ................................................................................................................................................................................ Company ............................................................................................................................................................................. Address ................................................................................................................................................................................ E-mail ................................................................................................................................................................................... Tel ........................................................................................................... Fax ......................................................................

AIFMD ONE YEAR AFTER (Code C1415M) HILTON, St Julian’s, MALTA September 18th & 19th Morning, 2014

Fee includes Refreshments, Buffet Lunch, a Full Documentation Package and the CD ROM of the presentations

Yes, I wish to register *

Standard Registration Fee Euros 1’650 Payment before August 31, 2014 Euros 1’150

SPECIAL OFFERS AVAILABLE FOR A BOOKING & PAYMENT: BEFORE August 31, 2014 AFTER August 31, 2014

SFAMA - Swiss Fund Association Member LAFV – Liechtenstein Fund Association Member SAAM Swiss Association of Asset Managers Member , GSCGI Member ALFI Member AFG Member, AIMA Member, HFSB Member ARIF Member, EFAMA Member

Euros 650 Euros 950

MGI CLUB, ESAFON CLUB MEMBER, Participant to the 3rd Annual MALTA SPRING conference – March 2013

Euros 550 Euros 700

Group Participation (2 Delegates) from the same company Additional (one invoice only) Euros 450 per delegate Euros 650 per delegate

Group Participation (3 Delegates or more) from the same company (one invoice only) Euros 350 per delegate Euros 450 per delegate

Maltese Participants IFSP IBA Euros 500 Euros 700

Individual & Institutional ESAFON Member Euros 300 Euros 400

Date: ………………………………………………………

Signature: …………………………………………………………………………….….

*Please tick the applicable box

Yes, I will pay by wiring transfer upon the receipt of my invoice* Yes, I wish to register to the Post Conference Workshop “The Delegation of the Risk Management Function Under

AIFMD” at the additional fee of 100 €

Please send the invoice to the following address:

Name, Job Title:…………………………………………………………………………………………………………

Address:………………………………………………………………………………………………………………………




annual malta fund conference aifmd one year …2014/08/28 · morning, 2014 – hilton – st....

Documents