NEW YORK, Jan. 14 /PRNewswire/ — Women in Derivatives, a diverse industry nonprofit for senior female professionals in the derivatives industry, hosted its first roundtable discussion for 2010 last night, titled “Washington and Wall Street: Derivatives – What to Expect”.
The discussion was a roundtable panel format that included a distinguished list of industry leaders:
Annette Nazareth, Partner at Davis Polk & Wardwell LLP and a former Commissioner at the Securities Exchange Commission;
Andrea Maharam, founder of Align International, LLC and, formerly a Director at the US Commodity Futures Trading Commission and Chair of the International Organization of Securities Commission’s Task Force on the Objectives and Principles of Securities Regulation; and
Linda Lord, Managing Director, Head, US Legislative and Regulatory Affairs at UBS Securities LLC.
The industry panel discussed the substance of recent legislation introduced in Congress and possible effects on various market participants, including dealers, hedge funds, asset managers and other market participants. The event was sponsored by IntercontinentalExchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets.
Highlights of the event include Annette Nazareth’s statement regarding current legislation and the proposal to combine governmental agencies. Nazareth said, “It is unfortunate that in the regulatory reform efforts there is no political will to streamline and rationalize regulatory agencies.”
Andrea Corcoran spoke to systemic risk, public concern, and the interconnectedness of financial institutions. Corcoran said, “The ultimate consumer of regulation is the public who puts its trust and its money in banks and other regulated intermediaries and invests in our future through the markets. The public doesn’t care about regulatory structure it cares about results. The public wants this crisis to result in evenhanded solutions that are neither too weak nor too strong but just right– so we can continue to finance progress through the capital markets and their (and our) financial future is safe while they sleep at night. ”
Linda Lord offered her thoughts on whether legislation affecting derivatives would pass in 2010. Lord said, “It appears that given the complexity and breadth of issues to be resolved that comprehensive financial regulatory reform may not be accomplished this year. Notwithstanding that, it seems to me that additional legislation on executive compensation and credit rating agencies will become law.”
For more information, please contact one of the Women in Derivatives media contacts.
About Women in Derivatives
Women in Derivatives are an industry trade organization for senior women in the derivatives industry. The group was established to make meaningful contributions to women in the derivatives industry by providing, for example, forums for discussions related to developments in the industry, work-shops and other educational opportunities.
SOURCE Women in Derivatives