Fri, 06/06/2014 - 15:00
Jersey is to host a high level conference organised jointly by the US Securities and Exchange Commission (SEC) and the Jersey Financial Services Commission.
The purpose of the conference is to encourage international co-operation between securities authorities in order to protect investors.
The Commission, which has successfully negotiated for the SEC to stage the conference in the island, is to host and sponsor the event, which takes place at the Radisson Blu Waterfront Hotel in July. It is believed to be the first time the SEC has staged a conference in one of the British Crown Dependencies.
The conference programme includes a one day seminar designed to promote communication between the US SEC staff and industry participants in the Channel Islands on compliance issues of relevance to investment advisers and collective investment funds. It is a forum to discuss compliance issues in a practical way, to share experiences and to learn about effective compliance procedures.
The seminar will provide an overview of the SEC’s regulatory framework, its examination and enforcement programmes and ways in which firms can build an effective compliance programme.
The ‘Compliance Outreach Seminar for Compliance Professionals, Investment Advisers and Investment Funds’, on 15 July, is open to finance industry delegates from the Channel Islands and beyond.
The longer three day conference, ‘Effective Oversight of Capital Markets: Compliance, Examinations, Investigations and Prosecutions of Securities Fraud’, from 16 to 18 July, is designed for regulators and law enforcement officers only and will be attended by senior figures from regulatory authorities around the world and officials who investigate and prosecute financial crimes such as insider trading, Ponzi schemes, money laundering, and securities fraud.
Speakers at both events include Kurt Gresenz, assistant director in the Office of International Affairs at the SEC; David Woodcock, chair of the SEC’s Financial Reporting and Audit Task Force and regional director of the Securities and Exchange Commission’s Fort Worth Regional Office; Jim Reese, an assistant director for the Office of Risk and Analysis and Surveillance within the Office of Compliance Inspections and Examinations; and Erin McCartney, a branch chief in the SEC’s Office of International Affairs.
John Harris, director general at the Jersey Financial Services Commission, says: “Not only do we have some of the senior figures from the Securities and Exchange Commission in the Island to meet with our own government representatives, regulators and industry leaders, but there will also be a range of regulators and law enforcement officers from around the world who regularly attend these important, informative and thought provoking SEC conferences.
“I would encourage those working at a senior compliance industry level locally to consider attending the one day outreach event, especially if their firm is doing, or is likely to do business in the US or with US firms. We expect the interest to be international with many delegates from other jurisdictions making the trip to attend.”
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