Conference programme - Thursday 12 November

Legal and financial planning in an era of economic contraction

Henry Christensen III, partner, McDermott Will & Emery, USA

14.00 Keynote
Will the United States set the pace for global economic developments?
Following a vowed intent by the new US administration to tackle tax evasion and jurisdictions offering incentive tax structures, what are the immediate consequences for the private client industry? This presentation will offer an insight on the expectations from the US government and how this will influence advising clients in the years to come.
Mihir Desai, Professor of Finance and Chair of Doctoral Programs, Harvard Business School, USA

14.30 Panel debate
International Financial Centres vs. the global recession – An update on regulatory developments
The global recession has forced all of the leading economies to rethink their government’s involvement in the financial markets. Are they fire-fighting the current crisis or restructuring financial markets for the better? With a number of financial stimuli and several institutions being nationalized, this panel will discuss the most drastic changes to these select jurisdictions and offer views on the opportunities available for advising private clients.
Jonathan Burt, managing director, Barclays Wealth, UK
Walid Chiniara, principal, SHOORA – Family Business Advisors, UAE
Geoff Cook, chief executive, Jersey Finance, Channel Islands
Richard Hay, principal, Stikeman Elliott, Canada
Michael Pfeifer, partner, Caplin & Drysdale, USA
Edward Stone, head of trust & private client (London), Conyers Dill & Pearman, Bermuda

16.15 Coffee break

16.45 Interactive Focus Groups

A. International compliance of legislation
The US government’s crack-down on residents with international businesses or investments has led to a range of solutions range from taxing international profits to strengthening bilateral agreements with other jurisdictions. Considering the effects for high net worth individuals, this session will discuss the impact of inter-jurisdictional battles such as that between Switzerland and the US over UBS and investigate the new level of international compliance.
Steven Cantor, managing partner, Cantor & Webb, USA

B. Evolution of bank confidentiality
In the past year pressure on International Financial Centers (IFCs) from leading economic powers trying to eliminate tax evasion has increased. What is the future of bank secrecy, and likely evolution of the EU Savings Tax Initiative? This session will look at the developments in various jurisdictions, the level of intervention by OECD member states and how this will change the planning approaches for clients.
Philippe Pulfer, partner, Froriep Renggli, Switzerland
Mark Summers, partner, Speechly Bircham, UK

C. Legislative attacks on offshore activities
Many governments are considering legislative developments against perceived offshore tax abuse, and Obama’s backing of the Stop Tax Haven Abuse Act has caused much discussion. This focus group will examine new and proposed attempts to limit offshore activities by investigating considerations for advising clients now and in the future.
Ineke Koele, partner, Benvalor, The Netherlands
Sebastian Prichard Jones, partner, Macfarlanes, UK

D. Future of residential tax arbitrage
Will governments increase taxes to unworkable levels and introduce increasingly stringent residence tests? Or will they fight to attract investment and new wealthy tax payers through tax breaks offered to nonresident individuals and corporations? Considering the constraints some governments face, this session will allow for an outlook on what makes different jurisdictions more attractive than others.
Bijal Ajinkya, partner, Nishith Desai Associates, India
John Carrell, partner, Farrer & Co, UK
Mariano Roca López, head of private client, Cuatrecasas, Spain

18.00 Close of day one

19:00 Welcome dinner