One ½ day session of the 6th Copenhagen Compliance Conference will be devoted to the Financial Services Sector. Presentations, panel discussions and interactive sessions will focus on: Liquidity Risk Management, Regulatory Compliance, Effective Reporting Structures, Process and Risk Management.

We continue to experience sweeping reforms in all sectors of the industry, with rules and regulations aiming to alleviate the worst impacts of the financial and sovereign debt crisis, and establish an international framework to prevent and mitigate future problems. In addition, the high profile frauds and failures of oversight as have occurred with the Madoff and MF Global events have impacted end-investors and put into question existing systems and methods of control.

Reflecting the thesis that there is a governance problem within the financial sector which has defacto privatised profits and socialised losses:

• There is a widely prevalent political will to make financial markets and institutions pay more for the costs of explicit or implicit guarantees provided by national governments
• There is a desire to force changes to the business models of financial institutions
• There is an increased emphasis on ensuring taxes are collected on revenues from profitable investments
• The micro-economic behaviour of financial markets is under scrutiny, including trading strategies such as naked short-selling

All these activities combined make the financial sector a case-study of the challenges of how policy and oversight is translated into implementing measures:

Topics: The storyline of the Copenhagen Compliance Financial services ½ day on the various topics that touch upon the unifying themes:

1. The legislation states intent, but isn’t actionable
2. The implementing measures rely on regulators having the capacity to defined detailed requirements
3. Market participants make the right input to ensure that requirements are efficient
4. There are contradictions between different regulations that aiming at ensuring market infrastructure can efficiently perform its work, and achieving some other goal such as raising tax revenues

3 Panel /Round Table Discussion at the end of the group of presentations.

The Speakers for this session are: Hege Sjø, Head of the Scandinavian Corporate Governance Team, Hermes Investment Ltd, London. Paul Grainger, Managing Director Institutional Division, Resources Compliance, UK. Jesper Lau Hansen, dr. jur. & LL.M. (Cantab). Professor of Financial Markets Law, University of Copenhagen. Mark Cunningham, Senior Consultant at Capital Markets, Denmark, Anna Simonova, Associate Professor and EU Commission Researcher, Stig Nielsen, Danish FSA, and many others.