NERA Seminar: Financial Litigation, Disputes, and Enforcement

London, England
04 October 2011
Hosted By: NERA Economic Consulting

NERA hosted a seminar in London on 4 October 2011 that examined the latest developments in financial litigation, disputes, and enforcement. The program consisted of an opening session followed by two concurrent breakout sessions.

In the opening session, "Financial Regulation and Enforcement: A Global Perspective," NERA Associate Director Robert Patton began by discussing recent trends in regulatory enforcement in UK financial markets. Patrick Meaney, Manager of the Wholesale Department in the UK Financial Services Authority's Enforcement Division, then presented on market integrity and global enforcement. Forner NERA Vice President Dr. Sharon Brown-Hruska followed with an examination of the impact of Dodd-Frank Wall Street Reform on global markets and intermediaries. The session concluded with a discussion of "EU Regulation in a G20 World" by Richard Metcalfe, Head of Global Policy, Senior Regulatory Adviser, and Deputy Regional Director, EMEA of the International Swaps and Derivatives Association. The session was moderated by NERA Chairman Dr. Andrew Carron.
Dr. Carron also moderated the first breakout session, "Complex Financial Products: Mis-selling, Mis-marking, and Valuation." In this session, Dr. Chudozie Okongwu, former Senior Vice President and Head of NERA's European Finance, Litigation, and Dispute Resolution Group, began with an examination of complex financial products and the risks involved for investors. NERA Senior Vice President Dr. Faten Sabry then discussed the economics of CDO litigation. The session concluded with a presentation on litigating complex financial products by Michael Barnett, Partner on the Finance Litigation Team at Addleshaw Goddard LLP.

The second breakout session, "Alternative Economic Approaches in Commercial Disputes: Applications to Lost Profits and Competing Claims for Assets," began with a presentation by NERA Senior Vice President Dr. Vinita Juneja on how a financial economist approaches breach of contract and lost profits claims in commercial disputes. George Burn, Partner and Head of International Arbitration at Salans, followed with an examination of event studies as an alternative method for valuing a claim in international arbitration cases. Charles Kaplan, Partner and Head of International Dispute Resolution at Herbert Smith LLP, closed the session with a presentation on two aspects of the time value of money in international arbitration matters: discounted cash flows and interest. The session was moderated by NERA Director Graham Shuttleworth, head of the London office.

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