Seminar  Program

Advanced Swaps & Other Derivatives 2017


Select a Location:

  • New York, NY


    Oct. 24 - 25, 2017

    9:00 AM Eastern

  • Webcast


    Oct. 24 - 25, 2017

    9:00 AM Eastern

  • New Brunswick, NJ


    Oct. 24 - 25, 2017

    9:00 AM Eastern

    Groupcast Location

  • Atlanta, GA


    Oct. 24 - 25, 2017

    9:00 AM Eastern

    Groupcast Location

  • Boston, MA


    Oct. 24 - 25, 2017

    9:00 AM Eastern

    Groupcast Location

Why You Should Attend

The Dodd-Frank Act established a novel, comprehensive framework for the regulation of over-the-counter (OTC) derivatives and the market participants who transact in these products.  That regulatory framework, split primarily between the SEC and CFTC, has been substantially implemented by the CFTC.  For their part, the SEC has made substantial progress and has most recently focused on finalizing the rules applicable to security-based swap dealers and major participants.  

The regulatory regime touches the activities of all participants in the swaps markets, from end-users to major swap participants to swap dealers.  The regulations also affect a broad range of market facilities from clearinghouses to exchanges, to newly conceived swap execution facilities and swap data repositories, and other regulatory initiatives are also replacing the market.

The Dodd-Frank Act imposes registration requirements, mandatory clearing and trading requirements, margin requirements, capital and business conduct standards, and transaction and position reporting, as well as limitations on swap positions.

The legislation also established limitations on the scope of derivatives and proprietary trading activities that may be conducted by certain financial institutions.

At this program, our distinguished faculty will provide a comprehensive overview of the evolving regulatory framework for OTC derivatives and derivatives market participants, and explain how the regulatory framework affects these products, the structure of the market for these products and market participants.  The program will also cover documentation issues, and recent developments in tax, accounting and litigation related to OTC derivatives, as well as professional responsibility issues associated with derivatives.

What You Will Learn

  • A comprehensive analysis of the current regulatory framework for OTC derivatives:
    • Who is required to register and as what?
    • How is cross-border activity covered under the regulatory framework?
    • What is the status of mandatory clearing and trading requirements?
    • What are the reporting requirements?
    • What are swap execution facilities?
    • Who must be regulated as a swap execution facility?
    • What are the pending margin requirements and to whom do they apply?
    • When must swap market participants be registered as futures commission merchants?
    • How have banks and their affiliates been affected by limitations on derivatives and proprietary trading activities?
    • Are position limits applicable to OTC derivatives?
    • What changes have been made to existing insolvency law or are being considered? What is the Resolution Stay Protocol?
    • How are the amended federal commodity and securities laws affecting brokers, advisors and funds transacting in OTC derivatives?
  • Significant issues relating to credit, equity and commodity derivatives
  • Recent litigation developments related to derivatives
  • Tax and accounting developments applicable to derivatives
  • Professional responsibility and derivatives

Who Should Attend

This program is intended for experienced outside counsel, in-house attorneys, government lawyers, documentation managers, compliance officers, bankers, corporate and other end-users of swaps, and others involved in advanced structuring, negotiating and executing swap agreements and other derivative products. Counsel to derivatives market facilities and others involved in structuring, negotiating and executing swap agreements and other derivative products will also benefit from attending this program.

PLI Group Discounts

Groups of 4-14 from the same organization, all registering at the same time, for a PLI program scheduled for presentation at the same site, are entitled to receive a group discount. For further discount information, please contact membership@pli.edu or call (800) 260-4PLI.

PLI Can Arrange Group Viewing to Your Firm

Contact the Groupcasts Department via email at groupcasts@pli.edu for more details.

Cancellations

All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.

Day One: 9:00 a.m. - 5:00 p.m.

9:00 Opening Remarks
Gary Barnett, Joshua D. Cohn

9:15 CFTC and SEC Chiefs of Staff Panel Discussion
  • Agency collaboration
  • Regulatory agenda
  • Rulemaking focus
Mike Gill, Lucas Moskowitz

10:15 Networking Break

10:30 Clearing; Margin for Cleared Transactions; Client Money Segregation; Default Management; End-User Perspectives
  • Mandatory clearing requirements
  • Margin and segregation
  • Default management and focus on CCP default funds: current state of play of models
  • CCPs and clearing members

Moderator: Gary Barnett
Geoffrey B. Goldman, Wenchi Hu, Jason Silverstein, Thomas J. Smith, William Thum



12:30 Lunch

1:45 Swap Execution Methods, SEFs, Give-up and Reporting
  • Mandatory trading requirements; SEFs and trading facilities, including definitions, exceptions, regulation and registration and rule book issues
  • Give-up arrangements, futures agreement addenda and execution agreements
  • SDR reporting

Moderator: Joshua D. Cohn
Debra W. Cook, Lisa A. Shemie, Kathryn M. Trkla



2:45 Networking Break

3:00 Swap Dealers and Major Swap Participants: Who Are They and How Are They Regulated? Reporting, Business Conduct Rules, Capital
  • Swap Dealers, Major Swap Participants: who qualifies?
  • Major internal changes: reporting and conduct
  • Margin on uncleared swaps, capital requirements and effect on liquidity

Moderator: Gary Barnett
Katie Driscoll, Mary Johannes, Carol McGee, Thomas J. Smith



4:30 Regulation of Other Swap Market Participants: Funds, CPOs/CTAs
  • Fund issues
  • Cross-border application of CPO regulation
  • Issues for commodity trading advisors

Moderator: Amanda Olear
Matthew K. Kerfoot



5:00 Adjourn

Day Two: 9:00 a.m. - 5:00 p.m.

9:00 Recap and Introduction to Day Two
Gary Barnett, Joshua D. Cohn

9:15 Principal Issues for Consideration and Negotiation in Derivatives Documentation-Cleared and Uncleared
  • Swaps generally
  • Commodity Swaps, Equity Swaps and CDS
  • Legal and contractual considerations

Moderator: Gary Barnett
Guy Dempsey, Matthew K. Kerfoot, John S. Servidio



10:45 Networking Break

11:00 Regulation of Other Swap Market Participants: The Swap Activities of Banks (continued)
  • Aspects of bank regulation
  • The role of the NFA
  • Swap dealer regulation implementation
  • Implementation of substituted compliance
  • Swap dealer and intermediary compliance and examinations, coordination and approach

Moderator: Gary Barnett
Rosario Chiarenza, Jamila A. Piracci, Erik F. Remmler, Gabriel D. Rosenberg



12:00 Lunch

1:15 New Withholding Regulations on Cross-Border Equity Derivatives and Related Developments
  • New regulations on the taxation of dividend equivalents paid in cross-border swaps and on equity-linked instruments
  • IRS temporary regulations on deemed loans embedded in off-market and exchange-cleared swaps
  • The new Qualified Derivative Dealer rules

 Mark H. Leeds, Michael E. Mann

(CPE Field of Study: Taxes)


2:15 Networking Break

2:30 Derivatives and Professional Responsibility
  • Derivatives lawyers as gatekeepers
  • Representing the organization
  • Reporting wrongdoing up the ladder within an organization
  • Reporting a client’s violations to regulators
  • SEC Rule of Professional Responsibility for Issuer’s Counsel
  • Relationship between the lawyer and the CCO
  • Whistleblower and anti-retaliation issues
  • Anti-evasion issues
  • Conflicts waivers
  • Email and metadata confidentiality issues
 Michael S. Sackheim

3:30 Innovative Market Trends, Enforcement Trends, Litigation, Insolvency and Resolution Authority: Safe Harbors; Orderly Liquidation
  • Review of recent cases of interest to the OTC derivatives market
  • Differences among the Federal Deposit Insurance Act, the Orderly Liquidation Authority, and the Code
  • Resolution stay issues

Moderator: Joshua D. Cohn
Dan M. Berkovitz, Knox McIlwain, Locke R. McMurray, R. Penfield Starke



5:00 Adjourn

Co-Chair(s)
Gary Barnett ~ Deputy Director, Division of Trading and Markets, U.S. Securities and Exchange Commission
Joshua D. Cohn ~ Managing Principal, JBHS LLC
Moderator(s)
Amanda Olear ~ Associate Director, Division of Swap Dealer and Intermediary Oversight, U.S. Commodity Futures Trading Commission
Speaker(s)
Dan M. Berkovitz ~ WilmerHale LLP
Rosario Chiarenza ~ Executive Director, Head of Regulatory Reform Strategy, Morgan Stanley
Debra W. Cook ~ Managing Director and Deputy General Counsel, The Depository Trust & Clearing Corp
Guy Dempsey ~ Katten Muchin Rosenman LLP
Katie Driscoll ~ Associate Chief Counsel, Division of Swap Dealer and Intermediary Oversight, US Commodity Futures Trading Commission
Mike Gill ~ Chief of Staff, Chairman Chris Giancarlo, U.S. Commodity Futures Trading Commission
Geoffrey B. Goldman ~ Shearman & Sterling LLP
Wenchi Hu ~ Latham & Watkins LLP
Mary P. Johannes ~ Senior Director and Head of ISDA WGMR Implementation Initiative, ISDA
Matthew K. Kerfoot ~ Dechert LLP
Mark H. Leeds ~ Mayer Brown LLP
Michael E. Mann ~ SVP-Tax Counsel, HSBC Bank USA
Carol McGee ~ Assistant Director, Division of Trading and Markets, U.S. Securities and Exchange Commission
Knox McIlwain ~ Cleary Gottlieb Steen & Hamilton LLP
Locke R. McMurray ~ Jones Day
Lucas Moskowitz ~ Chief of Staff, U.S. Securities and Exchange Commission
Jamila A. Piracci ~ Vice President, OTC Derivatives, National Futures Association
Erik F. Remmler ~ Deputy Director, Registration and Compliance, Division of Swap Dealer and Intermediary Oversight, U.S. Commodity Futures Trading Commission
Gabriel D. Rosenberg ~ Davis Polk & Wardwell LLP
Michael S. Sackheim ~ Sidley Austin LLP
John S. Servidio ~ Winston & Strawn LLP
Lisa A. Shemie ~ Associate General Counsel, Bats Global Markets, a CBOE company
Jason Silverstein ~ General Counsel, Noble Markets
Thomas J. Smith ~ Deputy Director, Capital, Margin and Segregation, Division of Swap Dealer and Intermediary Oversight, U.S. Commodity Futures Trading Commission
R. Penifield Starke ~ Assistant General Counsel, Legal Division, Federal Deposit Insurance Corporation
William Thum ~ Principal, Legal Department, Vanguard
Kathryn M. Trkla ~ Foley & Lardner LLP
Program Attorney(s)
Lauren E. Nochta ~ Senior Program Attorney, Practising Law Institute

New York City Seminar Location

PLI New York Center
, 1177 Avenue of the Americas, (2nd floor), entrance on 45th Street, New York, New York 10036. (800) 260-4754.

New York City Hotel Accommodations

Crowne Plaza Times Square Manhattan, 1605 Broadway (at 48th Street), New York, NY 10019 (212) 977-4000. When calling, mention Practising Law Institute. You can also make reservations online to access PLI's rates.

The Muse, 130 West 46th Street, New York, NY 10036. Please call reservations at 1-800-546-7866. When calling, please mention Practising Law Institute and rate code PLII. You can also Book Online- Kimpton.

Millennium Broadway Hotel, 145 West 44th Street, New York, NY 10036. Please call reservations at 1-800-622-5569. When calling, please mention Practising Law Institute. You can also book online.

Hyatt Times Square, 135 W. 45th Street, New York, NY 10036. For reservations, please call (646) 364-1234. When calling mention rate code CR56218 or Practising Law Institute.

General credit information about this format appears below. For credit information specific to this program, please choose your jurisdiction(s) in the Credit Information box on the right-hand side of this page.


U.S. MCLE States

Alabama: PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Alaska:  All PLI products can fulfill Alaska’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Arizona:  PLI’s live seminars qualify as “interactive CLE” credit. There is no limit to the number of credits an attorney can earn via interactive CLE programs.

Arkansas:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

California:  PLI’s live seminars qualify as “participatory” credit. There is no limit to the number of credits an attorney can earn via participatory programs.

Colorado:  All PLI products can fulfill Colorado’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Connecticut: Effective January 1, 2017, all PLI products can fulfill Connecticut’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Delaware:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Florida:  All PLI products can fulfill Florida’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Georgia:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Hawaii:  All PLI products can fulfill Hawaii’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Idaho:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Illinois: All PLI products can fulfill Illinois' CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Indiana:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Iowa:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Kansas:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live programs.

Kentucky:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Louisiana:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Maine:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Minnesota:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Mississippi:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Missouri:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Montana:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Nebraska:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Nevada:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

New Hampshire:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

New Jersey:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

New Mexico:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

New York

Experienced Attorneys:  All PLI products can fulfill New York’s CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Newly Admitted Attorneys:  PLI’s transitional live seminars can be used to fulfill the requirements for newly admitted attorneys. All credit categories may be earned via transitional live seminars.

North Carolina:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars

North Dakota:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Ohio:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Oklahoma:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Oregon:  All PLI products can fulfill Oregon’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Pennsylvania: PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Puerto Rico:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Rhode Island:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

South Carolina:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Tennessee:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Texas:  All PLI products can fulfill Texas’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Utah:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Vermont:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Virgin Islands:  All PLI products can fulfill the Virgin Islands’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Virginia:  PLI’s live seminars qualify as “live interactive” credit. There is no limit to the number of credits an attorney can earn via live interactive programs.

Washington:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

West Virginia:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Wisconsin:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Wyoming:  PLI’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

CPD Jurisdictions

British Columbia (CPD-BC):  PLI’s live seminars qualify as “real-time” credit. There is no limit to the number of credits an attorney can earn via real-time programs.

Ontario (CPD-ON):  PLI’s live seminars qualify as “interactive” credit. There is no limit to the number of credits an attorney can earn via interactive programs.

Quebec (CPD-QC): PLI’s live seminars can fulfill Quebec’s CPD requirements.

Hong Kong (CPD-HK):  PLI’s live seminars qualify as “live” credit. There is no limit to the number of points an attorney can earn via live seminars.

United Kingdom (CPD-UK):  PLI’s live seminars can fulfill the United Kingdom’s CPD requirements.

Australia (CPD-AUS):  PLI’s live seminars qualify as “live” credit in all Australian jurisdictions. There is no limit to the number of credits an attorney can earn via live seminars.

Other Credit Types

CPE Credit (NASBA): PLI’s live seminars qualify as “Group-Live delivery” credit.

IRS Continuing Education (IRS-CE): PLI’s live seminars may fulfill IRS-CE requirements. To request IRS-CE credit, please notify PLI at plicredits@pli.edu of your request and include your Preparer Tax Identification Number (PTIN).

Certified Fraud Examiner CPE:  PLI’s live seminars may fulfill Certified Fraud Examiner CPE requirements. To request CPE credit or find out which programs offer CPE, please contact PLI at plicredits@pli.edu.

IAPP Continuing Privacy Credit (CPE):  PLI’s live seminars may fulfill Privacy CPE credit requirements.

HR Recertification (HRCI):  PLI’s live seminars may fulfill HR credit requirements.

SHRM Recertification (SHRM):  PLI’s live seminars qualify as "instructor-led" credit. There is no limit to the number of credits an SHRM professional can earn via instructor-led programs.

Compliance Certification Board (CCB):  PLI’s live seminars qualify as “live” training events. There is no limit to the number of credits a candidate or certification holder can earn via live programs.

Certified Anti-Money Laundering Specialists (CAMS):  PLI’s live seminars may fulfill CAMS credit requirements.

New York State Social Worker Continuing Education (SW CPE):  PLI’s live seminars may fulfill SW CPE credit requirements.

 

Why You Should Attend

The Dodd-Frank Act established a novel, comprehensive framework for the regulation of over-the-counter (OTC) derivatives and the market participants who transact in these products.  That regulatory framework, split primarily between the SEC and CFTC, has been substantially implemented by the CFTC.  For their part, the SEC has made substantial progress and has most recently focused on finalizing the rules applicable to security-based swap dealers and major participants.  

The regulatory regime touches the activities of all participants in the swaps markets, from end-users to major swap participants to swap dealers.  The regulations also affect a broad range of market facilities from clearinghouses to exchanges, to newly conceived swap execution facilities and swap data repositories, and other regulatory initiatives are also replacing the market.

The Dodd-Frank Act imposes registration requirements, mandatory clearing and trading requirements, margin requirements, capital and business conduct standards, and transaction and position reporting, as well as limitations on swap positions.

The legislation also established limitations on the scope of derivatives and proprietary trading activities that may be conducted by certain financial institutions.

At this program, our distinguished faculty will provide a comprehensive overview of the evolving regulatory framework for OTC derivatives and derivatives market participants, and explain how the regulatory framework affects these products, the structure of the market for these products and market participants.  The program will also cover documentation issues, and recent developments in tax, accounting and litigation related to OTC derivatives, as well as professional responsibility issues associated with derivatives.

What You Will Learn

  • A comprehensive analysis of the current regulatory framework for OTC derivatives:
    • Who is required to register and as what?
    • How is cross-border activity covered under the regulatory framework?
    • What is the status of mandatory clearing and trading requirements?
    • What are the reporting requirements?
    • What are swap execution facilities?
    • Who must be regulated as a swap execution facility?
    • What are the pending margin requirements and to whom do they apply?
    • When must swap market participants be registered as futures commission merchants?
    • How have banks and their affiliates been affected by limitations on derivatives and proprietary trading activities?
    • Are position limits applicable to OTC derivatives?
    • What changes have been made to existing insolvency law or are being considered? What is the Resolution Stay Protocol?
    • How are the amended federal commodity and securities laws affecting brokers, advisors and funds transacting in OTC derivatives?
  • Significant issues relating to credit, equity and commodity derivatives
  • Recent litigation developments related to derivatives
  • Tax and accounting developments applicable to derivatives
  • Professional responsibility and derivatives

Who Should Attend

This program is intended for experienced outside counsel, in-house attorneys, government lawyers, documentation managers, compliance officers, bankers, corporate and other end-users of swaps, and others involved in advanced structuring, negotiating and executing swap agreements and other derivative products. Counsel to derivatives market facilities and others involved in structuring, negotiating and executing swap agreements and other derivative products will also benefit from attending this program.

PLI Group Discounts

Groups of 4-14 from the same organization, all registering at the same time, for a PLI program scheduled for presentation at the same site, are entitled to receive a group discount. For further discount information, please contact membership@pli.edu or call (800) 260-4PLI.

PLI Can Arrange Group Viewing to Your Firm

Contact the Groupcasts Department via email at groupcasts@pli.edu for more details.

Cancellations

All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.

Day One: 9:00 a.m. - 5:00 p.m.

9:00 Opening Remarks
Gary Barnett, Joshua D. Cohn

9:15 CFTC and SEC Chiefs of Staff Panel Discussion
  • Agency collaboration
  • Regulatory agenda
  • Rulemaking focus
Mike Gill, Lucas Moskowitz

10:15 Networking Break

10:30 Clearing; Margin for Cleared Transactions; Client Money Segregation; Default Management; End-User Perspectives
  • Mandatory clearing requirements
  • Margin and segregation
  • Default management and focus on CCP default funds: current state of play of models
  • CCPs and clearing members

Moderator: Gary Barnett
Geoffrey B. Goldman, Wenchi Hu, Jason Silverstein, Thomas J. Smith, William Thum



12:30 Lunch

1:45 Swap Execution Methods, SEFs, Give-up and Reporting
  • Mandatory trading requirements; SEFs and trading facilities, including definitions, exceptions, regulation and registration and rule book issues
  • Give-up arrangements, futures agreement addenda and execution agreements
  • SDR reporting

Moderator: Joshua D. Cohn
Debra W. Cook, Lisa A. Shemie, Kathryn M. Trkla



2:45 Networking Break

3:00 Swap Dealers and Major Swap Participants: Who Are They and How Are They Regulated? Reporting, Business Conduct Rules, Capital
  • Swap Dealers, Major Swap Participants: who qualifies?
  • Major internal changes: reporting and conduct
  • Margin on uncleared swaps, capital requirements and effect on liquidity

Moderator: Gary Barnett
Katie Driscoll, Mary Johannes, Carol McGee, Thomas J. Smith



4:30 Regulation of Other Swap Market Participants: Funds, CPOs/CTAs
  • Fund issues
  • Cross-border application of CPO regulation
  • Issues for commodity trading advisors

Moderator: Amanda Olear
Matthew K. Kerfoot



5:00 Adjourn

Day Two: 9:00 a.m. - 5:00 p.m.

9:00 Recap and Introduction to Day Two
Gary Barnett, Joshua D. Cohn

9:15 Principal Issues for Consideration and Negotiation in Derivatives Documentation-Cleared and Uncleared
  • Swaps generally
  • Commodity Swaps, Equity Swaps and CDS
  • Legal and contractual considerations

Moderator: Gary Barnett
Guy Dempsey, Matthew K. Kerfoot, John S. Servidio



10:45 Networking Break

11:00 Regulation of Other Swap Market Participants: The Swap Activities of Banks (continued)
  • Aspects of bank regulation
  • The role of the NFA
  • Swap dealer regulation implementation
  • Implementation of substituted compliance
  • Swap dealer and intermediary compliance and examinations, coordination and approach

Moderator: Gary Barnett
Rosario Chiarenza, Jamila A. Piracci, Erik F. Remmler, Gabriel D. Rosenberg



12:00 Lunch

1:15 New Withholding Regulations on Cross-Border Equity Derivatives and Related Developments
  • New regulations on the taxation of dividend equivalents paid in cross-border swaps and on equity-linked instruments
  • IRS temporary regulations on deemed loans embedded in off-market and exchange-cleared swaps
  • The new Qualified Derivative Dealer rules

 Mark H. Leeds, Michael E. Mann

(CPE Field of Study: Taxes)


2:15 Networking Break

2:30 Derivatives and Professional Responsibility
  • Derivatives lawyers as gatekeepers
  • Representing the organization
  • Reporting wrongdoing up the ladder within an organization
  • Reporting a client’s violations to regulators
  • SEC Rule of Professional Responsibility for Issuer’s Counsel
  • Relationship between the lawyer and the CCO
  • Whistleblower and anti-retaliation issues
  • Anti-evasion issues
  • Conflicts waivers
  • Email and metadata confidentiality issues
 Michael S. Sackheim

3:30 Innovative Market Trends, Enforcement Trends, Litigation, Insolvency and Resolution Authority: Safe Harbors; Orderly Liquidation
  • Review of recent cases of interest to the OTC derivatives market
  • Differences among the Federal Deposit Insurance Act, the Orderly Liquidation Authority, and the Code
  • Resolution stay issues

Moderator: Joshua D. Cohn
Dan M. Berkovitz, Knox McIlwain, Locke R. McMurray, R. Penfield Starke



5:00 Adjourn

Co-Chair(s)
Gary Barnett ~ Deputy Director, Division of Trading and Markets, U.S. Securities and Exchange Commission
Joshua D. Cohn ~ Managing Principal, JBHS LLC
Moderator(s)
Amanda Olear ~ Associate Director, Division of Swap Dealer and Intermediary Oversight, U.S. Commodity Futures Trading Commission
Speaker(s)
Dan M. Berkovitz ~ WilmerHale LLP
Rosario Chiarenza ~ Executive Director, Head of Regulatory Reform Strategy, Morgan Stanley
Debra W. Cook ~ Managing Director and Deputy General Counsel, The Depository Trust & Clearing Corp
Guy Dempsey ~ Katten Muchin Rosenman LLP
Katie Driscoll ~ Associate Chief Counsel, Division of Swap Dealer and Intermediary Oversight, US Commodity Futures Trading Commission
Mike Gill ~ Chief of Staff, Chairman Chris Giancarlo, U.S. Commodity Futures Trading Commission
Geoffrey B. Goldman ~ Shearman & Sterling LLP
Wenchi Hu ~ Latham & Watkins LLP
Mary P. Johannes ~ Senior Director and Head of ISDA WGMR Implementation Initiative, ISDA
Matthew K. Kerfoot ~ Dechert LLP
Mark H. Leeds ~ Mayer Brown LLP
Michael E. Mann ~ SVP-Tax Counsel, HSBC Bank USA
Carol McGee ~ Assistant Director, Division of Trading and Markets, U.S. Securities and Exchange Commission
Knox McIlwain ~ Cleary Gottlieb Steen & Hamilton LLP
Locke R. McMurray ~ Jones Day
Lucas Moskowitz ~ Chief of Staff, U.S. Securities and Exchange Commission
Jamila A. Piracci ~ Vice President, OTC Derivatives, National Futures Association
Erik F. Remmler ~ Deputy Director, Registration and Compliance, Division of Swap Dealer and Intermediary Oversight, U.S. Commodity Futures Trading Commission
Gabriel D. Rosenberg ~ Davis Polk & Wardwell LLP
Michael S. Sackheim ~ Sidley Austin LLP
John S. Servidio ~ Winston & Strawn LLP
Lisa A. Shemie ~ Associate General Counsel, Bats Global Markets, a CBOE company
Jason Silverstein ~ General Counsel, Noble Markets
Thomas J. Smith ~ Deputy Director, Capital, Margin and Segregation, Division of Swap Dealer and Intermediary Oversight, U.S. Commodity Futures Trading Commission
R. Penifield Starke ~ Assistant General Counsel, Legal Division, Federal Deposit Insurance Corporation
William Thum ~ Principal, Legal Department, Vanguard
Kathryn M. Trkla ~ Foley & Lardner LLP
Program Attorney(s)
Lauren E. Nochta ~ Senior Program Attorney, Practising Law Institute
General credit information about this format appears below. For credit information specific to this program, please choose your jurisdiction(s) in the Credit Information box on the right-hand side of this page.

PLI’s live and on-demand webcasts are single-user license products intended for an individual registrant only. Credit will be issued only to the individual registered. If two or more individuals wish to participate in a webcast and receive credit, PLI would be happy to provide a Groupcast – group viewing of a webcast. To schedule a Groupcast, please contact PLI at groupcasts@pli.edu.


U.S. MCLE States

Alabama:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Alaska:  All PLI products can fulfill Alaska’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Arizona:  PLI’s live webcasts qualify as “interactive CLE” credit. There is no limit to the number of credits an attorney can earn via interactive CLE programs.

Arkansas:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

California:  PLI’s live webcasts qualify as “participatory” credit. There is no limit to the number of credits an attorney can earn via participatory programs.

Colorado:  All PLI products can fulfill Colorado’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Connecticut: Effective January 1, 2017, all PLI products can fulfill Connecticut’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Delaware:  PLI’s live webcasts qualify as “eCLE” credit. Attorneys are limited to 12 credits of eCLE per reporting period.

Florida:  All PLI products can fulfill Florida’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Georgia:  PLI’s live webcasts qualify as “in-house” credit. Attorneys are limited to 6 in-house credits per reporting period.

Hawaii:  All PLI products can fulfill Hawaii’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Idaho:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Illinois:  All PLI products can fulfill Illinois' CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Indiana:  PLI’s live webcasts qualify as “distance education” credit. Attorneys are limited to 9 credits of distance education per reporting period.

Iowa:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Kansas:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Kentucky:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Louisiana:  PLI’s live webcasts qualify as “self-study” credit. Attorneys are limited to 4 credits of self-study per reporting period.

Maine:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Minnesota:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Mississippi:  PLI’s live webcasts qualify as “distance learning” credit. Attorneys are limited to 6 credits of distance learning per reporting period.

Missouri:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Montana:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Nebraska:  PLI’s live webcasts qualify as “computer-based learning” credit. Attorneys are limited to 5 credits of computer-based learning per reporting period.

Nevada:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

New Hampshire:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

New Jersey:  PLI’s live webcasts qualify as “alternative verifiable learning formats” credit. Attorneys are limited to 12 credits of alternative verifiable learning formats per reporting period.

New Mexico:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

New York

Experienced Attorneys:  All PLI products can fulfill New York’s CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Newly Admitted Attorneys:  PLI’s transitional live webcasts can be used to fulfill the requirements for New York newly admitted attorneys. Ethics credit, professional practice credit, and law practice management credit may be earned via transitional live webcasts. Skills credits may not be earned via live webcasts.

North Carolina:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

North Dakota:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Ohio:  PLI’s live webcasts qualify as “self-study” credit. Attorneys are limited to 12 credits of self-study per reporting period.

Oklahoma:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Oregon:  All PLI products can fulfill Oregon’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Pennsylvania:  PLI’s live webcasts qualify as “distance learning” credit. Attorneys are limited to 6 credits of distance learning per reporting period.

Puerto Rico:  PLI’s live webcasts qualify as “non-traditional” credit. Attorneys are limited to 8 credits of non-traditional programs per reporting period.

Rhode Island:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

South Carolina:  PLI’s live webcasts qualify as “alternatively delivered” credit. Attorneys are limited to 6 credits of alternatively delivered programs per reporting period.

Tennessee:  PLI’s live webcasts qualify as “distance learning” credit. Attorneys are limited to 8 credits of distance learning per reporting period.

Texas:  All PLI products can fulfill Texas’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Utah:  PLI’s live webcasts qualify as “self-study” credit. Attorneys are limited to 12 credits of self-study per reporting period.

Vermont:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Virgin Islands:  All PLI products can fulfill the Virgin Islands’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Virginia:  PLI’s live webcasts qualify as “live interactive” credit. There is no limit to the number of credits an attorney can earn via live interactive programs.

Washington:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

West Virginia:  PLI’s live webcasts qualify as “online” credit. Attorneys are limited to 12 credits of online instruction per reporting period.

Wisconsin:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

Wyoming:  PLI’s live webcasts qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live webcasts.

CPD Jurisdictions

British Columbia (CPD-BC):  PLI’s live webcasts qualify as “real-time” credit. There is no limit to the number of credits an attorney can earn via real-time programs.

Ontario (CPD-ON):  PLI’s live webcasts qualify as “interactive” credit. There is no limit to the number of credits an attorney can earn via interactive programs.

Quebec (CPD-QC):  PLI’s live webcasts can fulfill Quebec’s CPD requirements.

Hong Kong (CPD-HK):  PLI’s live webcasts qualify as “distance learning” credit. Attorneys are limited to 15 points of distance learning programs per reporting period.

United Kingdom (CPD-UK):  PLI’s live webcasts can fulfill the United Kingdom’s CPD requirements.

Australia (CPD-AUS):  PLI’s live webcasts may fulfill Australia’s CPD requirements. Credit limits for live webcasts vary according to jurisdiction. Please refer to your jurisdiction’s CPD information page for specifics.

Other Credit Types

CPE Credit (NASBA):  PLI’s live webcasts qualify as “Group-Internet-Based” (GIB) credit.

IRS Continuing Education (IRS-CE):  PLI’s live webcasts may fulfill IRS-CE requirements. To request IRS-CE credit, please notify PLI at plicredits@pli.edu of your request and include your Preparer Tax Identification Number (PTIN).

Certified Fraud Examiner CPE:  PLI’s live webcasts may fulfill Certified Fraud Examiner CPE requirements. To request CPE credit or find out which programs offer CPE, please contact PLI at plicredits@pli.edu.

IAPP Continuing Privacy Credit (CPE):  PLI’s live webcasts may fulfill Privacy CPE credit requirements.

HR Recertification (HRCI):  PLI’s live webcasts may fulfill HR credit requirements.

SHRM Recertification (SHRM):  PLI’s live webcasts qualify as "instructor-led" credit. There is no limit to the number of credits an SHRM professional can earn via instructor-led programs.

Compliance Certification Board (CCB):  PLI’s live webcasts qualify as “live” training events. There is no limit to the number of credits a candidate or certification holder can earn via live programs.

Certified Anti-Money Laundering Specialists (CAMS):  PLI’s live webcasts may fulfill CAMS credit requirements.

New York State Social Worker Continuing Education (SW CPE):  PLI’s live webcasts may fulfill SW CPE credit requirements.

 

Why You Should Attend

The Dodd-Frank Act established a novel, comprehensive framework for the regulation of over-the-counter (OTC) derivatives and the market participants who transact in these products.  That regulatory framework, split primarily between the SEC and CFTC, has been substantially implemented by the CFTC.  For their part, the SEC has made substantial progress and has most recently focused on finalizing the rules applicable to security-based swap dealers and major participants.  

The regulatory regime touches the activities of all participants in the swaps markets, from end-users to major swap participants to swap dealers.  The regulations also affect a broad range of market facilities from clearinghouses to exchanges, to newly conceived swap execution facilities and swap data repositories, and other regulatory initiatives are also replacing the market.

The Dodd-Frank Act imposes registration requirements, mandatory clearing and trading requirements, margin requirements, capital and business conduct standards, and transaction and position reporting, as well as limitations on swap positions.

The legislation also established limitations on the scope of derivatives and proprietary trading activities that may be conducted by certain financial institutions.

At this program, our distinguished faculty will provide a comprehensive overview of the evolving regulatory framework for OTC derivatives and derivatives market participants, and explain how the regulatory framework affects these products, the structure of the market for these products and market participants.  The program will also cover documentation issues, and recent developments in tax, accounting and litigation related to OTC derivatives, as well as professional responsibility issues associated with derivatives.

What You Will Learn

  • A comprehensive analysis of the current regulatory framework for OTC derivatives:
    • Who is required to register and as what?
    • How is cross-border activity covered under the regulatory framework?
    • What is the status of mandatory clearing and trading requirements?
    • What are the reporting requirements?
    • What are swap execution facilities?
    • Who must be regulated as a swap execution facility?
    • What are the pending margin requirements and to whom do they apply?
    • When must swap market participants be registered as futures commission merchants?
    • How have banks and their affiliates been affected by limitations on derivatives and proprietary trading activities?
    • Are position limits applicable to OTC derivatives?
    • What changes have been made to existing insolvency law or are being considered? What is the Resolution Stay Protocol?
    • How are the amended federal commodity and securities laws affecting brokers, advisors and funds transacting in OTC derivatives?
  • Significant issues relating to credit, equity and commodity derivatives
  • Recent litigation developments related to derivatives
  • Tax and accounting developments applicable to derivatives
  • Professional responsibility and derivatives

Who Should Attend

This program is intended for experienced outside counsel, in-house attorneys, government lawyers, documentation managers, compliance officers, bankers, corporate and other end-users of swaps, and others involved in advanced structuring, negotiating and executing swap agreements and other derivative products. Counsel to derivatives market facilities and others involved in structuring, negotiating and executing swap agreements and other derivative products will also benefit from attending this program.

PLI Group Discounts

Groups of 4-14 from the same organization, all registering at the same time, for a PLI program scheduled for presentation at the same site, are entitled to receive a group discount. For further discount information, please contact membership@pli.edu or call (800) 260-4PLI.

PLI Can Arrange Group Viewing to Your Firm

Contact the Groupcasts Department via email at groupcasts@pli.edu for more details.

Cancellations

All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.

Day One: 9:00 a.m. - 5:00 p.m.

9:00 Opening Remarks
Gary Barnett, Joshua D. Cohn

9:15 CFTC and SEC Chiefs of Staff Panel Discussion
  • Agency collaboration
  • Regulatory agenda
  • Rulemaking focus
Mike Gill, Lucas Moskowitz

10:15 Networking Break

10:30 Clearing; Margin for Cleared Transactions; Client Money Segregation; Default Management; End-User Perspectives
  • Mandatory clearing requirements
  • Margin and segregation
  • Default management and focus on CCP default funds: current state of play of models
  • CCPs and clearing members

Moderator: Gary Barnett
Geoffrey B. Goldman, Wenchi Hu, Jason Silverstein, Thomas J. Smith, William Thum



12:30 Lunch

1:45 Swap Execution Methods, SEFs, Give-up and Reporting
  • Mandatory trading requirements; SEFs and trading facilities, including definitions, exceptions, regulation and registration and rule book issues
  • Give-up arrangements, futures agreement addenda and execution agreements
  • SDR reporting

Moderator: Joshua D. Cohn
Debra W. Cook, Lisa A. Shemie, Kathryn M. Trkla



2:45 Networking Break

3:00 Swap Dealers and Major Swap Participants: Who Are They and How Are They Regulated? Reporting, Business Conduct Rules, Capital
  • Swap Dealers, Major Swap Participants: who qualifies?
  • Major internal changes: reporting and conduct
  • Margin on uncleared swaps, capital requirements and effect on liquidity

Moderator: Gary Barnett
Katie Driscoll, Mary Johannes, Carol McGee, Thomas J. Smith



4:30 Regulation of Other Swap Market Participants: Funds, CPOs/CTAs
  • Fund issues
  • Cross-border application of CPO regulation
  • Issues for commodity trading advisors

Moderator: Amanda Olear
Matthew K. Kerfoot



5:00 Adjourn

Day Two: 9:00 a.m. - 5:00 p.m.

9:00 Recap and Introduction to Day Two
Gary Barnett, Joshua D. Cohn

9:15 Principal Issues for Consideration and Negotiation in Derivatives Documentation-Cleared and Uncleared
  • Swaps generally
  • Commodity Swaps, Equity Swaps and CDS
  • Legal and contractual considerations

Moderator: Gary Barnett
Guy Dempsey, Matthew K. Kerfoot, John S. Servidio



10:45 Networking Break

11:00 Regulation of Other Swap Market Participants: The Swap Activities of Banks (continued)
  • Aspects of bank regulation
  • The role of the NFA
  • Swap dealer regulation implementation
  • Implementation of substituted compliance
  • Swap dealer and intermediary compliance and examinations, coordination and approach

Moderator: Gary Barnett
Rosario Chiarenza, Jamila A. Piracci, Erik F. Remmler, Gabriel D. Rosenberg



12:00 Lunch

1:15 New Withholding Regulations on Cross-Border Equity Derivatives and Related Developments
  • New regulations on the taxation of dividend equivalents paid in cross-border swaps and on equity-linked instruments
  • IRS temporary regulations on deemed loans embedded in off-market and exchange-cleared swaps
  • The new Qualified Derivative Dealer rules

 Mark H. Leeds, Michael E. Mann

(CPE Field of Study: Taxes)


2:15 Networking Break

2:30 Derivatives and Professional Responsibility
  • Derivatives lawyers as gatekeepers
  • Representing the organization
  • Reporting wrongdoing up the ladder within an organization
  • Reporting a client’s violations to regulators
  • SEC Rule of Professional Responsibility for Issuer’s Counsel
  • Relationship between the lawyer and the CCO
  • Whistleblower and anti-retaliation issues
  • Anti-evasion issues
  • Conflicts waivers
  • Email and metadata confidentiality issues
 Michael S. Sackheim

3:30 Innovative Market Trends, Enforcement Trends, Litigation, Insolvency and Resolution Authority: Safe Harbors; Orderly Liquidation
  • Review of recent cases of interest to the OTC derivatives market
  • Differences among the Federal Deposit Insurance Act, the Orderly Liquidation Authority, and the Code
  • Resolution stay issues

Moderator: Joshua D. Cohn
Dan M. Berkovitz, Knox McIlwain, Locke R. McMurray, R. Penfield Starke



5:00 Adjourn

Co-Chair(s)
Gary Barnett ~ Deputy Director, Division of Trading and Markets, U.S. Securities and Exchange Commission
Joshua D. Cohn ~ Managing Principal, JBHS LLC
Moderator(s)
Amanda Olear ~ Associate Director, Division of Swap Dealer and Intermediary Oversight, U.S. Commodity Futures Trading Commission
Speaker(s)
Dan M. Berkovitz ~ WilmerHale LLP
Rosario Chiarenza ~ Executive Director, Head of Regulatory Reform Strategy, Morgan Stanley
Debra W. Cook ~ Managing Director and Deputy General Counsel, The Depository Trust & Clearing Corp
Guy Dempsey ~ Katten Muchin Rosenman LLP
Katie Driscoll ~ Associate Chief Counsel, Division of Swap Dealer and Intermediary Oversight, US Commodity Futures Trading Commission
Mike Gill ~ Chief of Staff, Chairman Chris Giancarlo, U.S. Commodity Futures Trading Commission
Geoffrey B. Goldman ~ Shearman & Sterling LLP
Wenchi Hu ~ Latham & Watkins LLP
Mary P. Johannes ~ Senior Director and Head of ISDA WGMR Implementation Initiative, ISDA
Matthew K. Kerfoot ~ Dechert LLP
Mark H. Leeds ~ Mayer Brown LLP
Michael E. Mann ~ SVP-Tax Counsel, HSBC Bank USA
Carol McGee ~ Assistant Director, Division of Trading and Markets, U.S. Securities and Exchange Commission
Knox McIlwain ~ Cleary Gottlieb Steen & Hamilton LLP
Locke R. McMurray ~ Jones Day
Lucas Moskowitz ~ Chief of Staff, U.S. Securities and Exchange Commission
Jamila A. Piracci ~ Vice President, OTC Derivatives, National Futures Association
Erik F. Remmler ~ Deputy Director, Registration and Compliance, Division of Swap Dealer and Intermediary Oversight, U.S. Commodity Futures Trading Commission
Gabriel D. Rosenberg ~ Davis Polk & Wardwell LLP
Michael S. Sackheim ~ Sidley Austin LLP
John S. Servidio ~ Winston & Strawn LLP
Lisa A. Shemie ~ Associate General Counsel, Bats Global Markets, a CBOE company
Jason Silverstein ~ General Counsel, Noble Markets
Thomas J. Smith ~ Deputy Director, Capital, Margin and Segregation, Division of Swap Dealer and Intermediary Oversight, U.S. Commodity Futures Trading Commission
R. Penifield Starke ~ Assistant General Counsel, Legal Division, Federal Deposit Insurance Corporation
William Thum ~ Principal, Legal Department, Vanguard
Kathryn M. Trkla ~ Foley & Lardner LLP
Program Attorney(s)
Lauren E. Nochta ~ Senior Program Attorney, Practising Law Institute
New Jersey Groupcast Location

New Jersey Institute for Continuing Legal Education, One Constitution Square, New Brunswick, NJ 08901-1520. 732-249-5100.

General credit information about this format appears below. For credit information specific to this program, please choose your jurisdiction(s) in the Credit Information box on the right-hand side of this page.


U.S. MCLE States

Alabama:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Alaska:  All PLI products can fulfill Alaska’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Arizona:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “interactive CLE” credit. There is no limit to the number of credits an attorney can earn via interactive CLE programs.

Arkansas:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

California:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “participatory” credit. There is no limit to the number of credits an attorney can earn via participatory programs.

Colorado:  All PLI products can fulfill Colorado’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Connecticut: Effective January 1, 2017, all PLI products can fulfill Connecticut’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Delaware:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Florida:  All PLI products can fulfill Florida’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Georgia:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Hawaii:  All PLI products can fulfill Hawaii’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Idaho:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Illinois:  All PLI products can fulfill Illinois' CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Indiana:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Iowa:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Kansas:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live programs.

Kentucky:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Louisiana:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Maine:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Minnesota:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Mississippi:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “distance learning” credit. Attorneys are limited to 6 credits of distance learning per reporting period.

Missouri:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Montana:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Nebraska:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Nevada:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

New Hampshire:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

New Jersey:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “alternative verifiable learning formats” credit. Attorneys are limited to 12 credits of alternative verifiable learning formats per reporting period.

New Mexico:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

New York

Experienced Attorneys:  All PLI products can fulfill New York’s CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Newly Admitted Attorneys:  PLI’s transitional live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) can be used to fulfill the requirements for New York newly admitted attorneys. Ethics credit, professional practice credit, and law practice management credit may be earned via transitional live groupcasts. Skills credits may not be earned via live groupcasts.

North Carolina:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

North Dakota:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Ohio:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Oklahoma:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Oregon:  All PLI products can fulfill Oregon’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Pennsylvania:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Puerto Rico:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Rhode Island:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

South Carolina:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Tennessee:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Texas:  All PLI products can fulfill Texas’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Utah:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “self-study” credit. Attorneys are limited to 12 credits of self-study per reporting period.

Vermont:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Virgin Islands:  All PLI products can fulfill the Virgin Islands’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Virginia:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live interactive” credit. There is no limit to the number of credits an attorney can earn via live interactive programs.

Washington:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

West Virginia:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Wisconsin:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Wyoming:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.


CPD Jurisdictions

British Columbia (CPD-BC):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “real-time” credit. There is no limit to the number of credits an attorney can earn via real-time programs.

Ontario (CPD-ON):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “interactive” credit. There is no limit to the number of credits an attorney can earn via interactive programs.

Quebec (CPD-QC):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) can fulfill Quebec’s CPD requirements.

Hong Kong (CPD-HK):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of points an attorney can earn via live groupcasts.

United Kingdom (CPD-UK):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) can fulfill the United Kingdom’s CPD requirements.


Other Credit Types

CPE Credit (NASBA):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “Group-Live delivery” credit.

IRS Continuing Education (IRS-CE):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill IRS-CE requirements. To request IRS-CE credit, please notify PLI at cleadministrator@pli.edu of your request and include your Preparer Tax Identification Number (PTIN).

Certified Fraud Examiner CPE:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill Certified Fraud Examiner CPE requirements. To request CPE credit or find out which programs offer CPE, please contact PLI at cleadministrator@pli.edu.

IAPP Continuing Privacy Credit (CPE):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill Privacy CPE credit requirements.

HR Recertification (HRCI):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill HR credit requirements.

Compliance Certification Board (CCB):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” training events. There is no limit to the number of credits a candidate or certification holder can earn via live groupcasts.

IIEI Recertification:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may qualify for the Continuing Education Units (CEUs) necessary to fulfill the Certified U.S. Export Compliance Officer® (CUSECO) continuing education requirements.

 

Why You Should Attend

The Dodd-Frank Act established a novel, comprehensive framework for the regulation of over-the-counter (OTC) derivatives and the market participants who transact in these products.  That regulatory framework, split primarily between the SEC and CFTC, has been substantially implemented by the CFTC.  For their part, the SEC has made substantial progress and has most recently focused on finalizing the rules applicable to security-based swap dealers and major participants.  

The regulatory regime touches the activities of all participants in the swaps markets, from end-users to major swap participants to swap dealers.  The regulations also affect a broad range of market facilities from clearinghouses to exchanges, to newly conceived swap execution facilities and swap data repositories, and other regulatory initiatives are also replacing the market.

The Dodd-Frank Act imposes registration requirements, mandatory clearing and trading requirements, margin requirements, capital and business conduct standards, and transaction and position reporting, as well as limitations on swap positions.

The legislation also established limitations on the scope of derivatives and proprietary trading activities that may be conducted by certain financial institutions.

At this program, our distinguished faculty will provide a comprehensive overview of the evolving regulatory framework for OTC derivatives and derivatives market participants, and explain how the regulatory framework affects these products, the structure of the market for these products and market participants.  The program will also cover documentation issues, and recent developments in tax, accounting and litigation related to OTC derivatives, as well as professional responsibility issues associated with derivatives.

What You Will Learn

  • A comprehensive analysis of the current regulatory framework for OTC derivatives:
    • Who is required to register and as what?
    • How is cross-border activity covered under the regulatory framework?
    • What is the status of mandatory clearing and trading requirements?
    • What are the reporting requirements?
    • What are swap execution facilities?
    • Who must be regulated as a swap execution facility?
    • What are the pending margin requirements and to whom do they apply?
    • When must swap market participants be registered as futures commission merchants?
    • How have banks and their affiliates been affected by limitations on derivatives and proprietary trading activities?
    • Are position limits applicable to OTC derivatives?
    • What changes have been made to existing insolvency law or are being considered? What is the Resolution Stay Protocol?
    • How are the amended federal commodity and securities laws affecting brokers, advisors and funds transacting in OTC derivatives?
  • Significant issues relating to credit, equity and commodity derivatives
  • Recent litigation developments related to derivatives
  • Tax and accounting developments applicable to derivatives
  • Professional responsibility and derivatives

Who Should Attend

This program is intended for experienced outside counsel, in-house attorneys, government lawyers, documentation managers, compliance officers, bankers, corporate and other end-users of swaps, and others involved in advanced structuring, negotiating and executing swap agreements and other derivative products. Counsel to derivatives market facilities and others involved in structuring, negotiating and executing swap agreements and other derivative products will also benefit from attending this program.

PLI Group Discounts

Groups of 4-14 from the same organization, all registering at the same time, for a PLI program scheduled for presentation at the same site, are entitled to receive a group discount. For further discount information, please contact membership@pli.edu or call (800) 260-4PLI.

PLI Can Arrange Group Viewing to Your Firm

Contact the Groupcasts Department via email at groupcasts@pli.edu for more details.

Cancellations

All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.

Day One: 9:00 a.m. - 5:00 p.m.

9:00 Opening Remarks
Gary Barnett, Joshua D. Cohn

9:15 CFTC and SEC Chiefs of Staff Panel Discussion
  • Agency collaboration
  • Regulatory agenda
  • Rulemaking focus
Mike Gill, Lucas Moskowitz

10:15 Networking Break

10:30 Clearing; Margin for Cleared Transactions; Client Money Segregation; Default Management; End-User Perspectives
  • Mandatory clearing requirements
  • Margin and segregation
  • Default management and focus on CCP default funds: current state of play of models
  • CCPs and clearing members

Moderator: Gary Barnett
Geoffrey B. Goldman, Wenchi Hu, Jason Silverstein, Thomas J. Smith, William Thum



12:30 Lunch

1:45 Swap Execution Methods, SEFs, Give-up and Reporting
  • Mandatory trading requirements; SEFs and trading facilities, including definitions, exceptions, regulation and registration and rule book issues
  • Give-up arrangements, futures agreement addenda and execution agreements
  • SDR reporting

Moderator: Joshua D. Cohn
Debra W. Cook, Lisa A. Shemie, Kathryn M. Trkla



2:45 Networking Break

3:00 Swap Dealers and Major Swap Participants: Who Are They and How Are They Regulated? Reporting, Business Conduct Rules, Capital
  • Swap Dealers, Major Swap Participants: who qualifies?
  • Major internal changes: reporting and conduct
  • Margin on uncleared swaps, capital requirements and effect on liquidity

Moderator: Gary Barnett
Katie Driscoll, Mary Johannes, Carol McGee, Thomas J. Smith



4:30 Regulation of Other Swap Market Participants: Funds, CPOs/CTAs
  • Fund issues
  • Cross-border application of CPO regulation
  • Issues for commodity trading advisors

Moderator: Amanda Olear
Matthew K. Kerfoot



5:00 Adjourn

Day Two: 9:00 a.m. - 5:00 p.m.

9:00 Recap and Introduction to Day Two
Gary Barnett, Joshua D. Cohn

9:15 Principal Issues for Consideration and Negotiation in Derivatives Documentation-Cleared and Uncleared
  • Swaps generally
  • Commodity Swaps, Equity Swaps and CDS
  • Legal and contractual considerations

Moderator: Gary Barnett
Guy Dempsey, Matthew K. Kerfoot, John S. Servidio



10:45 Networking Break

11:00 Regulation of Other Swap Market Participants: The Swap Activities of Banks (continued)
  • Aspects of bank regulation
  • The role of the NFA
  • Swap dealer regulation implementation
  • Implementation of substituted compliance
  • Swap dealer and intermediary compliance and examinations, coordination and approach

Moderator: Gary Barnett
Rosario Chiarenza, Jamila A. Piracci, Erik F. Remmler, Gabriel D. Rosenberg



12:00 Lunch

1:15 New Withholding Regulations on Cross-Border Equity Derivatives and Related Developments
  • New regulations on the taxation of dividend equivalents paid in cross-border swaps and on equity-linked instruments
  • IRS temporary regulations on deemed loans embedded in off-market and exchange-cleared swaps
  • The new Qualified Derivative Dealer rules

 Mark H. Leeds, Michael E. Mann

(CPE Field of Study: Taxes)


2:15 Networking Break

2:30 Derivatives and Professional Responsibility
  • Derivatives lawyers as gatekeepers
  • Representing the organization
  • Reporting wrongdoing up the ladder within an organization
  • Reporting a client’s violations to regulators
  • SEC Rule of Professional Responsibility for Issuer’s Counsel
  • Relationship between the lawyer and the CCO
  • Whistleblower and anti-retaliation issues
  • Anti-evasion issues
  • Conflicts waivers
  • Email and metadata confidentiality issues
 Michael S. Sackheim

3:30 Innovative Market Trends, Enforcement Trends, Litigation, Insolvency and Resolution Authority: Safe Harbors; Orderly Liquidation
  • Review of recent cases of interest to the OTC derivatives market
  • Differences among the Federal Deposit Insurance Act, the Orderly Liquidation Authority, and the Code
  • Resolution stay issues

Moderator: Joshua D. Cohn
Dan M. Berkovitz, Knox McIlwain, Locke R. McMurray, R. Penfield Starke



5:00 Adjourn

Co-Chair(s)
Gary Barnett ~ Deputy Director, Division of Trading and Markets, U.S. Securities and Exchange Commission
Joshua D. Cohn ~ Managing Principal, JBHS LLC
Moderator(s)
Amanda Olear ~ Associate Director, Division of Swap Dealer and Intermediary Oversight, U.S. Commodity Futures Trading Commission
Speaker(s)
Dan M. Berkovitz ~ WilmerHale LLP
Rosario Chiarenza ~ Executive Director, Head of Regulatory Reform Strategy, Morgan Stanley
Debra W. Cook ~ Managing Director and Deputy General Counsel, The Depository Trust & Clearing Corp
Guy Dempsey ~ Katten Muchin Rosenman LLP
Katie Driscoll ~ Associate Chief Counsel, Division of Swap Dealer and Intermediary Oversight, US Commodity Futures Trading Commission
Mike Gill ~ Chief of Staff, Chairman Chris Giancarlo, U.S. Commodity Futures Trading Commission
Geoffrey B. Goldman ~ Shearman & Sterling LLP
Wenchi Hu ~ Latham & Watkins LLP
Mary P. Johannes ~ Senior Director and Head of ISDA WGMR Implementation Initiative, ISDA
Matthew K. Kerfoot ~ Dechert LLP
Mark H. Leeds ~ Mayer Brown LLP
Michael E. Mann ~ SVP-Tax Counsel, HSBC Bank USA
Carol McGee ~ Assistant Director, Division of Trading and Markets, U.S. Securities and Exchange Commission
Knox McIlwain ~ Cleary Gottlieb Steen & Hamilton LLP
Locke R. McMurray ~ Jones Day
Lucas Moskowitz ~ Chief of Staff, U.S. Securities and Exchange Commission
Jamila A. Piracci ~ Vice President, OTC Derivatives, National Futures Association
Erik F. Remmler ~ Deputy Director, Registration and Compliance, Division of Swap Dealer and Intermediary Oversight, U.S. Commodity Futures Trading Commission
Gabriel D. Rosenberg ~ Davis Polk & Wardwell LLP
Michael S. Sackheim ~ Sidley Austin LLP
John S. Servidio ~ Winston & Strawn LLP
Lisa A. Shemie ~ Associate General Counsel, Bats Global Markets, a CBOE company
Jason Silverstein ~ General Counsel, Noble Markets
Thomas J. Smith ~ Deputy Director, Capital, Margin and Segregation, Division of Swap Dealer and Intermediary Oversight, U.S. Commodity Futures Trading Commission
R. Penifield Starke ~ Assistant General Counsel, Legal Division, Federal Deposit Insurance Corporation
William Thum ~ Principal, Legal Department, Vanguard
Kathryn M. Trkla ~ Foley & Lardner LLP
Program Attorney(s)
Lauren E. Nochta ~ Senior Program Attorney, Practising Law Institute
Atlanta Groupcast Location

Atlanta Bar Association, 400 International Tower, 229 Peachtree Street, NE, Atlanta, GA 30303-1601. (404) 521-0781.

General credit information about this format appears below. For credit information specific to this program, please choose your jurisdiction(s) in the Credit Information box on the right-hand side of this page.


U.S. MCLE States

Alabama:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Alaska:  All PLI products can fulfill Alaska’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Arizona:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “interactive CLE” credit. There is no limit to the number of credits an attorney can earn via interactive CLE programs.

Arkansas:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

California:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “participatory” credit. There is no limit to the number of credits an attorney can earn via participatory programs.

Colorado:  All PLI products can fulfill Colorado’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Connecticut: Effective January 1, 2017, all PLI products can fulfill Connecticut’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Delaware:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Florida:  All PLI products can fulfill Florida’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Georgia:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Hawaii:  All PLI products can fulfill Hawaii’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Idaho:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Illinois:  All PLI products can fulfill Illinois' CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Indiana:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Iowa:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Kansas:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live programs.

Kentucky:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Louisiana:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Maine:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Minnesota:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Mississippi:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “distance learning” credit. Attorneys are limited to 6 credits of distance learning per reporting period.

Missouri:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Montana:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Nebraska:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Nevada:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

New Hampshire:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

New Jersey:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “alternative verifiable learning formats” credit. Attorneys are limited to 12 credits of alternative verifiable learning formats per reporting period.

New Mexico:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

New York

Experienced Attorneys:  All PLI products can fulfill New York’s CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Newly Admitted Attorneys:  PLI’s transitional live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) can be used to fulfill the requirements for New York newly admitted attorneys. Ethics credit, professional practice credit, and law practice management credit may be earned via transitional live groupcasts. Skills credits may not be earned via live groupcasts.

North Carolina:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

North Dakota:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Ohio:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Oklahoma:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Oregon:  All PLI products can fulfill Oregon’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Pennsylvania:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Puerto Rico:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Rhode Island:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

South Carolina:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Tennessee:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Texas:  All PLI products can fulfill Texas’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Utah:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “self-study” credit. Attorneys are limited to 12 credits of self-study per reporting period.

Vermont:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Virgin Islands:  All PLI products can fulfill the Virgin Islands’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Virginia:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live interactive” credit. There is no limit to the number of credits an attorney can earn via live interactive programs.

Washington:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

West Virginia:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Wisconsin:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Wyoming:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.


CPD Jurisdictions

British Columbia (CPD-BC):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “real-time” credit. There is no limit to the number of credits an attorney can earn via real-time programs.

Ontario (CPD-ON):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “interactive” credit. There is no limit to the number of credits an attorney can earn via interactive programs.

Quebec (CPD-QC):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) can fulfill Quebec’s CPD requirements.

Hong Kong (CPD-HK):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of points an attorney can earn via live groupcasts.

United Kingdom (CPD-UK):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) can fulfill the United Kingdom’s CPD requirements.


Other Credit Types

CPE Credit (NASBA):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “Group-Live delivery” credit.

IRS Continuing Education (IRS-CE):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill IRS-CE requirements. To request IRS-CE credit, please notify PLI at cleadministrator@pli.edu of your request and include your Preparer Tax Identification Number (PTIN).

Certified Fraud Examiner CPE:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill Certified Fraud Examiner CPE requirements. To request CPE credit or find out which programs offer CPE, please contact PLI at cleadministrator@pli.edu.

IAPP Continuing Privacy Credit (CPE):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill Privacy CPE credit requirements.

HR Recertification (HRCI):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill HR credit requirements.

Compliance Certification Board (CCB):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” training events. There is no limit to the number of credits a candidate or certification holder can earn via live groupcasts.

IIEI Recertification:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may qualify for the Continuing Education Units (CEUs) necessary to fulfill the Certified U.S. Export Compliance Officer® (CUSECO) continuing education requirements.

 

Why You Should Attend

The Dodd-Frank Act established a novel, comprehensive framework for the regulation of over-the-counter (OTC) derivatives and the market participants who transact in these products.  That regulatory framework, split primarily between the SEC and CFTC, has been substantially implemented by the CFTC.  For their part, the SEC has made substantial progress and has most recently focused on finalizing the rules applicable to security-based swap dealers and major participants.  

The regulatory regime touches the activities of all participants in the swaps markets, from end-users to major swap participants to swap dealers.  The regulations also affect a broad range of market facilities from clearinghouses to exchanges, to newly conceived swap execution facilities and swap data repositories, and other regulatory initiatives are also replacing the market.

The Dodd-Frank Act imposes registration requirements, mandatory clearing and trading requirements, margin requirements, capital and business conduct standards, and transaction and position reporting, as well as limitations on swap positions.

The legislation also established limitations on the scope of derivatives and proprietary trading activities that may be conducted by certain financial institutions.

At this program, our distinguished faculty will provide a comprehensive overview of the evolving regulatory framework for OTC derivatives and derivatives market participants, and explain how the regulatory framework affects these products, the structure of the market for these products and market participants.  The program will also cover documentation issues, and recent developments in tax, accounting and litigation related to OTC derivatives, as well as professional responsibility issues associated with derivatives.

What You Will Learn

  • A comprehensive analysis of the current regulatory framework for OTC derivatives:
    • Who is required to register and as what?
    • How is cross-border activity covered under the regulatory framework?
    • What is the status of mandatory clearing and trading requirements?
    • What are the reporting requirements?
    • What are swap execution facilities?
    • Who must be regulated as a swap execution facility?
    • What are the pending margin requirements and to whom do they apply?
    • When must swap market participants be registered as futures commission merchants?
    • How have banks and their affiliates been affected by limitations on derivatives and proprietary trading activities?
    • Are position limits applicable to OTC derivatives?
    • What changes have been made to existing insolvency law or are being considered? What is the Resolution Stay Protocol?
    • How are the amended federal commodity and securities laws affecting brokers, advisors and funds transacting in OTC derivatives?
  • Significant issues relating to credit, equity and commodity derivatives
  • Recent litigation developments related to derivatives
  • Tax and accounting developments applicable to derivatives
  • Professional responsibility and derivatives

Who Should Attend

This program is intended for experienced outside counsel, in-house attorneys, government lawyers, documentation managers, compliance officers, bankers, corporate and other end-users of swaps, and others involved in advanced structuring, negotiating and executing swap agreements and other derivative products. Counsel to derivatives market facilities and others involved in structuring, negotiating and executing swap agreements and other derivative products will also benefit from attending this program.

PLI Group Discounts

Groups of 4-14 from the same organization, all registering at the same time, for a PLI program scheduled for presentation at the same site, are entitled to receive a group discount. For further discount information, please contact membership@pli.edu or call (800) 260-4PLI.

PLI Can Arrange Group Viewing to Your Firm

Contact the Groupcasts Department via email at groupcasts@pli.edu for more details.

Cancellations

All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.

Day One: 9:00 a.m. - 5:00 p.m.

9:00 Opening Remarks
Gary Barnett, Joshua D. Cohn

9:15 CFTC and SEC Chiefs of Staff Panel Discussion
  • Agency collaboration
  • Regulatory agenda
  • Rulemaking focus
Mike Gill, Lucas Moskowitz

10:15 Networking Break

10:30 Clearing; Margin for Cleared Transactions; Client Money Segregation; Default Management; End-User Perspectives
  • Mandatory clearing requirements
  • Margin and segregation
  • Default management and focus on CCP default funds: current state of play of models
  • CCPs and clearing members

Moderator: Gary Barnett
Geoffrey B. Goldman, Wenchi Hu, Jason Silverstein, Thomas J. Smith, William Thum



12:30 Lunch

1:45 Swap Execution Methods, SEFs, Give-up and Reporting
  • Mandatory trading requirements; SEFs and trading facilities, including definitions, exceptions, regulation and registration and rule book issues
  • Give-up arrangements, futures agreement addenda and execution agreements
  • SDR reporting

Moderator: Joshua D. Cohn
Debra W. Cook, Lisa A. Shemie, Kathryn M. Trkla



2:45 Networking Break

3:00 Swap Dealers and Major Swap Participants: Who Are They and How Are They Regulated? Reporting, Business Conduct Rules, Capital
  • Swap Dealers, Major Swap Participants: who qualifies?
  • Major internal changes: reporting and conduct
  • Margin on uncleared swaps, capital requirements and effect on liquidity

Moderator: Gary Barnett
Katie Driscoll, Mary Johannes, Carol McGee, Thomas J. Smith



4:30 Regulation of Other Swap Market Participants: Funds, CPOs/CTAs
  • Fund issues
  • Cross-border application of CPO regulation
  • Issues for commodity trading advisors

Moderator: Amanda Olear
Matthew K. Kerfoot



5:00 Adjourn

Day Two: 9:00 a.m. - 5:00 p.m.

9:00 Recap and Introduction to Day Two
Gary Barnett, Joshua D. Cohn

9:15 Principal Issues for Consideration and Negotiation in Derivatives Documentation-Cleared and Uncleared
  • Swaps generally
  • Commodity Swaps, Equity Swaps and CDS
  • Legal and contractual considerations

Moderator: Gary Barnett
Guy Dempsey, Matthew K. Kerfoot, John S. Servidio



10:45 Networking Break

11:00 Regulation of Other Swap Market Participants: The Swap Activities of Banks (continued)
  • Aspects of bank regulation
  • The role of the NFA
  • Swap dealer regulation implementation
  • Implementation of substituted compliance
  • Swap dealer and intermediary compliance and examinations, coordination and approach

Moderator: Gary Barnett
Rosario Chiarenza, Jamila A. Piracci, Erik F. Remmler, Gabriel D. Rosenberg



12:00 Lunch

1:15 New Withholding Regulations on Cross-Border Equity Derivatives and Related Developments
  • New regulations on the taxation of dividend equivalents paid in cross-border swaps and on equity-linked instruments
  • IRS temporary regulations on deemed loans embedded in off-market and exchange-cleared swaps
  • The new Qualified Derivative Dealer rules

 Mark H. Leeds, Michael E. Mann

(CPE Field of Study: Taxes)


2:15 Networking Break

2:30 Derivatives and Professional Responsibility
  • Derivatives lawyers as gatekeepers
  • Representing the organization
  • Reporting wrongdoing up the ladder within an organization
  • Reporting a client’s violations to regulators
  • SEC Rule of Professional Responsibility for Issuer’s Counsel
  • Relationship between the lawyer and the CCO
  • Whistleblower and anti-retaliation issues
  • Anti-evasion issues
  • Conflicts waivers
  • Email and metadata confidentiality issues
 Michael S. Sackheim

3:30 Innovative Market Trends, Enforcement Trends, Litigation, Insolvency and Resolution Authority: Safe Harbors; Orderly Liquidation
  • Review of recent cases of interest to the OTC derivatives market
  • Differences among the Federal Deposit Insurance Act, the Orderly Liquidation Authority, and the Code
  • Resolution stay issues

Moderator: Joshua D. Cohn
Dan M. Berkovitz, Knox McIlwain, Locke R. McMurray, R. Penfield Starke



5:00 Adjourn

Co-Chair(s)
Gary Barnett ~ Deputy Director, Division of Trading and Markets, U.S. Securities and Exchange Commission
Joshua D. Cohn ~ Managing Principal, JBHS LLC
Moderator(s)
Amanda Olear ~ Associate Director, Division of Swap Dealer and Intermediary Oversight, U.S. Commodity Futures Trading Commission
Speaker(s)
Dan M. Berkovitz ~ WilmerHale LLP
Rosario Chiarenza ~ Executive Director, Head of Regulatory Reform Strategy, Morgan Stanley
Debra W. Cook ~ Managing Director and Deputy General Counsel, The Depository Trust & Clearing Corp
Guy Dempsey ~ Katten Muchin Rosenman LLP
Katie Driscoll ~ Associate Chief Counsel, Division of Swap Dealer and Intermediary Oversight, US Commodity Futures Trading Commission
Mike Gill ~ Chief of Staff, Chairman Chris Giancarlo, U.S. Commodity Futures Trading Commission
Geoffrey B. Goldman ~ Shearman & Sterling LLP
Wenchi Hu ~ Latham & Watkins LLP
Mary P. Johannes ~ Senior Director and Head of ISDA WGMR Implementation Initiative, ISDA
Matthew K. Kerfoot ~ Dechert LLP
Mark H. Leeds ~ Mayer Brown LLP
Michael E. Mann ~ SVP-Tax Counsel, HSBC Bank USA
Carol McGee ~ Assistant Director, Division of Trading and Markets, U.S. Securities and Exchange Commission
Knox McIlwain ~ Cleary Gottlieb Steen & Hamilton LLP
Locke R. McMurray ~ Jones Day
Lucas Moskowitz ~ Chief of Staff, U.S. Securities and Exchange Commission
Jamila A. Piracci ~ Vice President, OTC Derivatives, National Futures Association
Erik F. Remmler ~ Deputy Director, Registration and Compliance, Division of Swap Dealer and Intermediary Oversight, U.S. Commodity Futures Trading Commission
Gabriel D. Rosenberg ~ Davis Polk & Wardwell LLP
Michael S. Sackheim ~ Sidley Austin LLP
John S. Servidio ~ Winston & Strawn LLP
Lisa A. Shemie ~ Associate General Counsel, Bats Global Markets, a CBOE company
Jason Silverstein ~ General Counsel, Noble Markets
Thomas J. Smith ~ Deputy Director, Capital, Margin and Segregation, Division of Swap Dealer and Intermediary Oversight, U.S. Commodity Futures Trading Commission
R. Penifield Starke ~ Assistant General Counsel, Legal Division, Federal Deposit Insurance Corporation
William Thum ~ Principal, Legal Department, Vanguard
Kathryn M. Trkla ~ Foley & Lardner LLP
Program Attorney(s)
Lauren E. Nochta ~ Senior Program Attorney, Practising Law Institute
Boston Groupcast Location

Massachusetts CLE, 10 Winter Place, Boston, Massachusetts 02100. (617) 350-7006.

General credit information about this format appears below. For credit information specific to this program, please choose your jurisdiction(s) in the Credit Information box on the right-hand side of this page.


U.S. MCLE States

Alabama:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Alaska:  All PLI products can fulfill Alaska’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Arizona:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “interactive CLE” credit. There is no limit to the number of credits an attorney can earn via interactive CLE programs.

Arkansas:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

California:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “participatory” credit. There is no limit to the number of credits an attorney can earn via participatory programs.

Colorado:  All PLI products can fulfill Colorado’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Connecticut: Effective January 1, 2017, all PLI products can fulfill Connecticut’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Delaware:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Florida:  All PLI products can fulfill Florida’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Georgia:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Hawaii:  All PLI products can fulfill Hawaii’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Idaho:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Illinois:  All PLI products can fulfill Illinois' CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Indiana:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Iowa:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Kansas:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live programs.

Kentucky:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Louisiana:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Maine:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Minnesota:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Mississippi:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “distance learning” credit. Attorneys are limited to 6 credits of distance learning per reporting period.

Missouri:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Montana:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Nebraska:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Nevada:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

New Hampshire:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

New Jersey:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “alternative verifiable learning formats” credit. Attorneys are limited to 12 credits of alternative verifiable learning formats per reporting period.

New Mexico:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

New York

Experienced Attorneys:  All PLI products can fulfill New York’s CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via PLI products.

Newly Admitted Attorneys:  PLI’s transitional live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) can be used to fulfill the requirements for New York newly admitted attorneys. Ethics credit, professional practice credit, and law practice management credit may be earned via transitional live groupcasts. Skills credits may not be earned via live groupcasts.

North Carolina:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

North Dakota:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Ohio:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Oklahoma:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Oregon:  All PLI products can fulfill Oregon’s CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Pennsylvania:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Puerto Rico:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Rhode Island:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

South Carolina:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Tennessee:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Texas:  All PLI products can fulfill Texas’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Utah:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “self-study” credit. Attorneys are limited to 12 credits of self-study per reporting period.

Vermont:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Virgin Islands:  All PLI products can fulfill the Virgin Islands’ CLE requirements. There is no limit to the number of credits an attorney can earn via PLI products.

Virginia:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live interactive” credit. There is no limit to the number of credits an attorney can earn via live interactive programs.

Washington:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

West Virginia:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Wisconsin:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.

Wyoming:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live groupcasts.


CPD Jurisdictions

British Columbia (CPD-BC):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “real-time” credit. There is no limit to the number of credits an attorney can earn via real-time programs.

Ontario (CPD-ON):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “interactive” credit. There is no limit to the number of credits an attorney can earn via interactive programs.

Quebec (CPD-QC):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) can fulfill Quebec’s CPD requirements.

Hong Kong (CPD-HK):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” credit. There is no limit to the number of points an attorney can earn via live groupcasts.

United Kingdom (CPD-UK):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) can fulfill the United Kingdom’s CPD requirements.


Other Credit Types

CPE Credit (NASBA):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “Group-Live delivery” credit.

IRS Continuing Education (IRS-CE):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill IRS-CE requirements. To request IRS-CE credit, please notify PLI at cleadministrator@pli.edu of your request and include your Preparer Tax Identification Number (PTIN).

Certified Fraud Examiner CPE:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill Certified Fraud Examiner CPE requirements. To request CPE credit or find out which programs offer CPE, please contact PLI at cleadministrator@pli.edu.

IAPP Continuing Privacy Credit (CPE):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill Privacy CPE credit requirements.

HR Recertification (HRCI):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may fulfill HR credit requirements.

Compliance Certification Board (CCB):  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) qualify as “live” training events. There is no limit to the number of credits a candidate or certification holder can earn via live groupcasts.

IIEI Recertification:  PLI’s live groupcasts (i.e. live webcasts available for group viewing at co-sponsored locations) may qualify for the Continuing Education Units (CEUs) necessary to fulfill the Certified U.S. Export Compliance Officer® (CUSECO) continuing education requirements.

 

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-Robert McLaughlin, Fried Frank Harris Shriver & Jacobson LLP


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