XIVth International CIFA Forum
May 31 - June 03, 2016
Excessive regulation:
is it really intended to guarantee entrepreneurial freedom and property?
Tuesday 31 May
14:30
Official opening ceremony by Jean-Pierre Diserens
Secretary-General of CIFA
14:35
Welcome address by Pierre Christodoulidis
President of CIFA
15:00
Message from H.E. Mr. Sven Jurgenson
Vice-Chair United Nations Economic and Social Council (ECOSOC), Ambassador and Permanent Representative of the Republic of Estonia to the United Nations
15:30
Coffee Break
15:50
ECOSOC Roundtable with UN High Representatives and the Civil Society
Implementing the Post 2015 Development Agenda: moving from commitment to results
Confirmed Speakers:
Louise Kantrow
Permanent Representative to the UN for the International Chamber of Commerce (ICC)
Me Francois Loriot
SDGs Human Right Advocate
Neil Pierre
Chief, Policy Coordination branch, Office for the Economic and Social Council (ECOSOC) Support and Coordination, DESA - United Nations
Moderator:
Hanifa D. Mezoui
PhD, Senior Advisor Humanitarian Affairs and Civil Society, United Nations Alliance of Civilizations (UNAOC), New York City
17:15
Coffee Break
17:45
Message from Jennifer De Laurentis
Former UN Senior Official
18:00
The investor`s rights
Hachem Farès Boulos
Barrister, Bar of Beirut, Lebanon; Chairman of the Legal Committee, World Federation of Investors` Corporations
19:00
End of the first day
19:30
Cocktail
9:00
Welcome address by the Chairperson for the Day
Afaf Konja
Communication Specialist: Media and Public Relations
THEME 1: Legislative over-activity, investigations, fines, confiscation: are these results likely to improve the global financial system?
9:30
- The avalanche of standards and rules imposed strangles financial SMEs. Does it promote a dynamic and competitive market place?
- The bailed-out big financial institutions are able to negotiate fines imposed upon them. Can small operators do the same?
- To what extent do large banking groups interpret complex regulations to their advantage in order to eliminate small players?
- Have redundancies in the various directives (MIFIR, MIFID II, EMIR-European Market Infrastructure Regulation) been measured?
Confirmed Speakers:
Markus P. Grimm
Managing Director, Special Investment Situations, Hermes Partners International Ltd, Hong Kong
Xavier Oberson
Professor of Swiss and international tax law at the University of Geneva, Partner at Oberson Avocats, Geneva, Switzerland
Joe Oliver
Canadian politician and former Minister of Natural Resources (2011) and former Minister of Finance (2014)
Moderator: Lenore Elle Hawkins
MBA, Partner, Meritas Advisors, San Diego, USA
10:50
Coffee Break
THEME 2: $700 trillion in derivatives, $200 trillion debt, less than $70 trillion World GDP:Quo Vadis Fiat Money?
11:10
- Central Bank, Government, Taxation, People:Is there a generic model for Good Governance?
- Fiat Money, Currency Wars and Sound money: What are the global implications of financial advice?
- What`s the future role of SDR, Gold and Cryptocurrencies?
Confirmed Speakers:
Prof. Dr. Marc Chesney
Director of Department of Banking and Finance, Professor of Finance, University of Zurich
Nathalie Janson
Economist, Associate Professor at the Neoma Business School, Research Associate at the Molinari Economic Institute, Paris
Prof. Stephanie Kelton
Ph.D., Chief Economist on the U.S. Senate Budget Committee, Associate Professor in the Department of Economics at the University of Missouri-Kansas City, USA.
Pascal Salin
Economist, Paris, France
Iain Stewart-Linnhe
Global Regulatory Policy & Capital Markets Specialist, Hon. Lecturer, Law Faculty, University of Liverpool
Georges Ugeux*
Former Executive Vice-President International of the New York Stock Exchange, CEO, Galileo Global Advisors, New York City
Moderator :Prof. William K. Black
Associate Professor of Economics and Law, University of Missouri, Kansas City, USA
12:30
Networking Lunch
THEME 3: KYC, collection of intrusive information on customers, criminalization of tax offences: how far can State intrusion go into the individual`s private sphere?
14:00
- Can Financial Intermediaries be called upon to act as auxiliaries of the domestic revenue authorities? Should ineffective, costly and often corrupt authorities continue to delegate their duties to private operators?
- Private sphere: what is left? Are provisions enforced worldwide?
- What`s the hidden agenda behind the fight against tax evasion and fiscal optimization? Can it bail out heavily indebted States?
Confirmed Speakers:
Pierre Bessard
President of the Liberal Institute, Geneva, Switzerland
Darlene Hart
Founder & CEO, US Tax & Financial Services
Stephanie Jarrett
Partner, Baker & McKenzie, Geneva, Switzerland
Adolfo Enrique Linares Franco
Partner, Tapia, Linares & Alfaro; President Aegist Asset Advisors Inc; President Chambers of Commerce, Industries and Agriculture of Panama; Vice Minister of Education (2001-2004)
Yves Monerris
Partner, SELAS Yramis Pénal Avocats, Paris, France
Yves Nidegger
National Councilor - Member of Swiss Parliament, Attorney, Nidegger Law, Geneva, Switzerland
Moderator: Daniel Mitchell
Senior Fellow, Cato Institute, Washington, USA
15:50
Coffee Break
THEME 4: Persistent economic crisis, loss of tax revenues from employment, States` excessive indebtedness, incompressible social benefits. Can the Western economic model be saved and, in the case of BREXIT, can the EU survive?
16:00
- Western countries are heading towards a drastic drop in their birth rate, as their economies contract dramatically. What is ahead for these economies? What are the new business models?
- Emerging countries in the global economic doldrums, with explosive birth rate levels, non-existent infrastructure and insufficient industrialization, become lands of mass emigration. How can we stop this downward spiral?
- Tax administrations of western countries in disarray hunt down the savings of their citizens. What will happen once these amounts are forcefully collected? Is the resulting increased tax revenue likely to stimulate these economies?
Confirmed Speakers:
Mathieu Bédard
Economist at the Montreal Economic Institute
Louise C. Bennetts
Regulatory lawyer and former policy scholar, London, UK
Michel Girardin
Professor of Macro-Finance, University of Geneva, Switzerland
Prof. Stephanie Kelton
Ph.D.,Chief Economist on the U.S. Senate Budget Committee, Associate Professor in the Department of Economics at the University of Missouri-Kansas City, USA.
Joe Oliver
Canadian politician and former Minister of Natural Resources (2011) and former Minister of Finance (2014)
Moderator: Lenore Elle Hawkins
MBA, Partner, Meritas Advisors, San Diego, USA
17:30
Message from AMAF - Monaco
Hervé Ordioni
President-Committee for Promotion of Monaco as Financial Center, Monaco Association for Financial Activities, Monaco
18:30
End of the second day
20:00
Patrons` Dinner at the Hotel Hermitage by invitation only
(Black tie suggested)
with the exceptional participation of:
H.E. Mr. Nassir Abdulaziz Al-Nasser
High Representative of the United Nations Alliance of Civilizations
U N A O C
Wednesday 1 June
Thursday 2 June - Association Day 1
9:30
FECIF Board meeting & AGM
12:30
Networking Lunch for FECIF members
13:00
Registration and complimentary Apéro for participants of the Association Days
14:00
Message from Roshani
Shenazz Nadirshah
Wholeistic Living Empowerist
14:15
Welcome Address from the Chairmen of the Day
Vincent J. Derudder
Honorary Chairman of FECIF
Zoltan Luttenberger PhD
14:20
The Future of Advice
14:20
Fiduciary, Fee only, Fee-based, Commissions: Does it make a real difference?
- What are the market players` views on Fiduciary Duty?
- Are clients concerned about remuneration models?
- Should they be?
- What can Professional Associations and Consumer Protection do in this critical field?
Confirmed Speaker:
Nigel Pardoe
Managing Director of Hermitage Private Office Ltd., London, UK
14:40
Business Transition: Is this a real option for Sales People?
- What are the challenges for Salesmen in charging for advice?
- From sales to services, what is the best way forward?
- What are the best transition practices and the causes of failing to evolve?
- Are Salesmen dead in the RDR-MiFID world?
- Can a Tied Agent act as a Fiduciary in real world conditions?
Confirmed Speakers:
Thomas Abel CFP
Founding President of Network Financial Planners, Berlin, Germany
Sheryl Garrett
CFP®, AIF, Founding CEO of the Garrett Planning Network (US)
Michael Lodhi
Chairman, The Spectrum IFA Group, Luxembourg
Jiří Šindelář
Ph.D, USF ČR Chairman, The Czech Republic
Moderator: Nigel Pardoe
Managing Director of Hermitage Private Office Ltd. London, UK
15:50
Managing Client Expectations
- Discovering and (re)setting expectations with clients
- Managing the Expectation Gap
- How the right expectation management improves client relationships and compliance?
Confirmed Speaker:
Richard Crotty FMII MIITD QFA AA
Expectation Management Expert, Ireland
16:15
Coffee break
16:45
The future of Retail Advice: Simplified advice, Robos and DIY clients
- How can Simplified Advice make financial advice accessible to the masses?
- Is "Robo" good for clients seeking advice?
- Can self-directed clients survive in today`s financial world?
- How can human advisors utilize modern technologies?
Confirmed Speakers:
Zoltan Luttenberger PhD
Sven Putfarken CFP
Managing Partner M-P-V Wealth Management Ltd., Board Member Network Financial Planners Berlin
Paul Stanfield, CEO
FEIFA England, and Secretary General, FECIF Brussels
Moderator: Richard Crotty FMII MIITD QFA AA
Expectation Management Expert, Ireland
17:30
Are clients really pleased by "Regulatory Suitability"? What does regulation do for the consumer?
- What do clients know about Suitability?
- How does it affect their decisions?
- What do they expect the advisor to do?
- Who evaluates the client`s financial risk and asset class perceptions?
- Can clients effectively include Suitability assumptions and disclosures in their real world decisions?
Confirmed Speakers:
Emanuele Maria Carluccio
Chairman of EFPA SQC - Standards and Qualifications Committee
Vania Franceschelli
Responsible for Foreign Affairs, ANASF, Italy
Darlene Hart
Founder & CEO, US Tax & Financial Services
Michael Lodhi
Chairman, The Spectrum IFA Group, Luxembourg
Moderator: Ton Kentgens
Global Business Developer, Ortec Finance
18:30
Summary of the Day
Vincent J. Derudder
Honorary Chairman of FECIF
Zoltan Luttenberger PhD
18:30
End of the third day
9:00
Welcome Address from the Chairmen of the Day
Vincent J. Derudder
Honorary Chairman of FECIF
Zoltan Luttenberger PhD
09:30
The Future of the Financial Services Industry
09:30
Behavioral Finance - Focus of the advisory process: formal compliance by questionnaires, disclaimers, models and robos vs. evaluating goals, asset classes, B-Ds and products by building scenarios together with the client
Confirmed Speakers:
Krzysztof Dresler
CEO and co-owner of ICRA (individual clients` risk assessment company), CEO and co-owner of Insurance Group Service (multi-agent based distribution), Partner and coowner of BAAK and Capitalia banking loans and capital market advisory in Poland
Sheryl Garrett
CFP®, AIF, Founding CEO of the Garrett Planning Network (US)
Tony Mahabir
MBA, CMC, CFP, CIM, CEO Canfin Financial Group, Director of the Canadian Institute of Financial Planning
Jiří Šindelář
Ph.D, USF ČR Chairman, The Czech Republic
Moderator: Zoltan Luttenberger PhD
10:30
Who is in charge of my pension?
- Historically: Family, Children, State, Employer, Individual.
- Macro-economically: which differences if the transfer from active population to inactive recipients goes through taxes or investment?
- How is it possible that, over the same time period, pension schemes in some countries perform exceptionally well and in others they seem to be on the verge of collapsing?
- How are capitalization and final rents achieved?
Confirmed Speaker:
Simon Colboc
Head of Business Development, BNP Paribas, Brussels
10:50
Coffee break
11:20
Pensions: Is it all in the products? Do we want to double down on pension?
- 1st, 2nd or 3rd pillar.
- Where should pension and retirement planning responsibility lie, with the Government or the individual? Is there a call on employers to promote individual responsibility?
- Is the EU single market for Pensions the way forward?
- Should IFAs include employment-linked pensions in their scope or leave this to corporate specialists?
Confirmed Speakers:
John Beaney
Legal & Regulatory Executive at Association of International Life Offices (AILO), Isle of Man, United Kingdom
Darlene Hart
Founder & CEO, US Tax & Financial Services
Ing. Rastislav Podhorec MBA
Chairman, AFISP, Slovakia
Gilles-Guy de Salins
Vice President, ANCDGP, France
Moderator: Simon Colboc
Head of Business Development, BNP Paribas, Brussels
12:00
Suitability and Fiduciary Duty: What are the differences for the client?
- Is the client concerned about Suitability. or just relying on his/her Fiduciary Trustee?
- Can Suitability replace human trust-based relationships?
- If not, what are the real drivers of client decisions?
Confirmed Speaker:
Johannes Muschik
President of FECIF Brussels, Chairman of AFPA Austria
12:20
Where do we stand today with regards to regulation?
Marta Gellová
President of EFPA-Czech Republic presenting on behalf of FECIF and Cattaneo & Zanetto
Andrea Mogni
Senior financial expert in EU matters, IndependentInternational Consultant
12:40
Networking Lunch
14:00
The Consumer in the spotlight
14:00
New solutions to Wealth structuring
- Trusts, Foundations and offshore companies are not regarded as compliant vehicles.
- How to structure wealth preservation and management properly within the framework of a very restrictive legislation?
Confirmed Speakers:
Simon Colboc
Head of Business Development, BNP Paribas, Brussels
Vincent J. Derudder
Honorary Chairman of FECIF
14:20
What regulation and regulators do to prevent fraud
- In spite of a Tsunami of new rules and regulations, new fraudulent schemes are discovered daily.
- What is the role of the regulators?
- Are they effectively equipped to prevent fraud?
Confirmed Speaker:
Gilles Duteil
Director of CETFI, Aix-Marseille University, Aix-en-Provence, France
14:40
What the best intentions of the world could do for consumers: the Slovenian case
Confirmed Speaker:
Kristjan Verbič
President of the PanSlovenian Shareholders` Association (VZMD)
15:00
Coffee break
15:30
The Civil Society response: How to fight overregulation?
Confirmed Speakers:
Marta Gellová
President of EFPA-Czech Republic
Johannes Muschik
President of FECIF Brussels, Chairman of AFPA Austria
Paul Stanfield
CEO, FEIFA England, and Secretary General, FECIF Brussels
Iain Stewart-Linnhe
Global Regulatory Policy & Capital Markets Specialist, Hon. Lecturer, Law Faculty, University of Liverpool
Moderator: Sheryl Garrett
CFP®, AIF, Founding CEO of the Garrett Planning Network (US)
16:10
Financial Triage: Effectively determining what services are needed and how to deliver these services while fulfilling your fiduciary duties
- As our nascent profession expands to fill the needs of a broader population base, traditional financial planning service offerings and strategies are evolving.
- Successfully serving middle-income clients is often very different from other clients. While the middle market makes up over 80% of the American and E.U. populations, much of the financial planning profession focuses on the mass-affluent and beyond, leaving middle market needs either underserved or inadequately served.
- This session will identify services, models and strategies that resonate with and serve the needs of middle income clientele of all ages and stages.
Sheryl Garrett
CFP®, AIF, Founding CEO of the Garrett Planning Network (US)
16:40
Summary of the Day
Vincent J. Derudder
Honorary Chairman of FECIF
Zoltan Luttenberger PhD
17:00
Secretary-General Address & End of the Forum
Friday 3 June - Association Day 2