Contents > Citigroup European Fiduciary...
Page last published: 14 July 2008

Citigroup® Global Transaction Services
www.transactionservices.citigroup.com
Fiduciary Services
European Fiduciary Seminar
Prevention of identity theft
Update on the FSA's plans for retail fund structures in 2008/09, including UCITS IV
Outlook on the state of the economy
Wednesday 16 July 2008, 2:30pm
Citigroup, Stirling Square House, 5-7 Carlton Gardens, London SW1Y 5AD (near Pall Mall)

Citi invites you to Save the Date for the second of its 2008 Fiduciary Services Seminars. Hear the latest regulatory updates and news on UCITS IV from the FSA, the outlook on investment opportunities for fund managers from Citi’s economist and an overview on what the funds industry is doing to fight back against identity theft. - Agenda

- click here for the location of the seminar

Overview

With the cost of oil reaching record levels, inflation close to exceeding government targets, house prices taking the brunt of reduced market liquidity and inter-bank interest rates on the increase, barely a day goes by without economic news hitting the headlines. As we enter the second half of the year, Citi’s senior economist Richard Reid will be looking at the current economic picture and the impact some of these events are having on global stock markets.

A number of Managers will have been considering the FSA’s proposals to facilitate the electronic settlement of units and shares in collective investment schemes. Whilst this will have obvious administrative benefits, will this increase in the use of technology be a means to reduce the levels of identity theft or create new avenues for fraudsters to take advantage? Clive Shelton, a Director of IFDS whose responsibilities include Financial Crime Prevention will be taking a closer look at the issue of identity theft in the funds arena.

The FSA has been working closely with CESR and other international industry bodies on updates to the UCITS directive (UCITS IV), the implementation of the eligible assets directive and on other industry developments. Mark Glibbery, who is responsible for Collective Investment Schemes Policy at the FSA will be providing an update on these and future initiatives currently being considered by the UK and other European bodies.

We are delighted to have such an exciting line up of industry experts for our summer seminar and we hope you will be able to join us for what is certain to be a very informative and interesting afternoon.

We look forward to welcoming you on 16th July.

David Morrison
Head of Fiduciary Services, UK
Global Transaction Services

Please note:
CESR = Committee of European Securities Regulators;
UCITS = Undertakings for Collective Investment in Transferable Securities.

If you would like to receive an invitation to the seminar, please contact
Jacqueline Duncan Global Event Marketing - EMEA, Citi Business Services, Citi
Email: jacqueline.duncan@citi.com
Tel: +44 (0)20 7508 7817
Fax: +44 (0)20 7508 7818

OR one of the following:

Sean Quinn	London	EMEA Head of Fiduciary Services	Tel: +44 (0)20 7500 5619	sean.quinn@citi.com
Dave Morrison	London	Head of Fiduciary Services, UK	Tel: +44 (0)20 7500 8021	david.m.morrison@citi.com
Iain Lyall	London	Fiduciary Relationship Manager	Tel: +44 (0)20 7500 8356	ian.lyall@citi.com
Francine Bailey	London	Fiduciary Relationship Manager	Tel: +44 (0)20 7500 8580	francine.bailey@citi.com
Andrew Newson	London	Fiduciary Relationship Manager	Tel: +44 (0)20 7500 8410	andrew.c.newson@citi.com
Patrick Watelet	Luxembourg	Head of Fiduciary Relationships	Tel: +352 451 414 231	patrick.watelet@citi.com
Francis Pedrini	Luxembourg	Fiduciary Relationship Manager	Tel: +352 451 414 228	francis.pedrini@citi.com
Daniel Mente	Luxembourg	Fiduciary Relationship Manager	Tel: +352 451 414 492	daniel.mente@citi.com
Shane Baily	Dublin	Head of Fiduciary Services, Ireland	Tel: +353 1 622 6297	shane.baily@citi.com
Ian Callaghan	Dublin	Fiduciary Relationship Manager	Tel: +353 1 622 1015	ian.joseph.callaghan@citi.com

Agenda

2.30 pm Tea/Coffee and Registration

3.00 pm Prevention of identity theft

Clive Shelton, FSI, Risk and Compliance Director, International Financial Data Services (UK) Ltd.

· UCITS IV

· Funds of alternative investment funds (FAIFs)

· Eligible Assets Directive

· Key information document disclosures for UCITS (KID)

3.30 pm Update on the FSA's plans for retail fund structures in 2008/09, including:

Mark Glibbery, Senior Associate, Retail Policy Division, The Financial Services Authority

· How widespread is the issue? What are the prevalent scams? How common is director identity theft?

· Is the industry fighting back? Can technology assist or is investor's participation in additional security measures essential?

· FSA developments

· Data security in financial services

· Electronic settlement of deals in funds

4.00 pm Break

4.15 pm Outlook on the state of the economy, including:

Richard Reid, Economist, Citi

· The affect of the price of oil and other commodities

· How long will the affects of the credit crunch last? Will governments encourage more savings?

· What are the investment opportunities for fund managers in the medium term?

· The impact of technology in the developing world

4.45 pm Questions and Answers

5.00 pm Close followed by drinks reception

Speaker Biographies

Clive Shelton FSI
Director, International Financial Data Services (UK) Limited

Clive Shelton is a director of International Financial Data Services (UK) Limited, a leading provider of administration services to the UK financial services industry. Clive is Deputy Chairman and a Non-Executive Director of the Tax Incentivised Savings Association (TISA). He has served on a number of industry bodies, working groups and committees.

He has recently been involved with the Department for Work & Pensions technical working group on Personal Accounts (National Pensions Savings Scheme) and the HMRC/HMT working group on gross interest payments to UK non-taxpayers.

Clive is a member of the Securities & Investment Institute's Examination Board and co-author of various books published by the Institute. He is also a Non-Executive Director of Unicorn Training Group, a provider of learning management systems and content.

After 14 years at the Bank of England, he joined the M&G Group in 1987, becoming Chief Registrar in 1992; and, following the acquisition of M&G by the Prudential Plc, he became an Associate Director in 2000 and Director of Compliance responsible for retail operations and third-party administration in 2001. He joined IFDS in February 2003, where he is responsible for overseeing Compliance, Risk Management, Business Continuity Planning and Financial Crime Prevention.

Mark Glibbery
Senior Associate, Retail Policy Division, The Financial Services Authority

Mark Glibbery is a senior associate in the FSA's CIS Policy Team, a role he has held since 2004. He previously worked for various fund-management groups in compliance and technical roles before joining the FSA's Wholesale Policy Division in 2002.

During his time in the CIS team, Mark has worked on various initiatives, including dual pricing for authorised funds, treatment of softing and bundled brokerage in retail investment products and the introduction of hedged unit classes.

On the International front, he has previously worked on the UCITS III Transitional arrangements and has been involved this year in CESR's work on the replacement for the Simplified Prospectus.

Dr Richard Reid
Managing Director, European Equity Economist, Economic and Market Analysis, Citi

Dr Reid joined Citi in 2001, taking over the management of the economics team for the CEEMEA region in 2005. In December 2006, he was promoted to managing director. Highly ranked in leading surveys of economists and working closely with the firm's trading and sales businesses, the private bank, the investment bank and GlobalTransaction Services, he advises Citi's institutional investor and corporate clients.

At Citi, Dr Reid's research interests have focused on the consequences of the "third industrial revolution", globalcapital ﬂows (sovereign wealth funds), competition, demographics and migration, income inequality and climate change, and also on how these developments affect the expected returns on financial assets.

Before joining Citi, Dr Reid, then the Chief International Economist for Donaldson Lufkin & Jenrette in London,concentrated on developing thematic issues such as the impact of the "new economy" on equity markets and the changing structure of Europe's financial systems. Prior to this, he was the Chief European Economist for UBS for 14 years, where he built a highly regarded team at the forefront of developing pan-European analysis.

Dr Reid has also been a noted commentator on the Bundesbank and subsequently the ECB, and has also served as a special adviser to the British Parliament's Treasury and Civil Service Committee on International Monetary Affairs.

Dr Reid's professional career began as a lecturer at Strathclyde University in Glasgow (where he earned his Ph.D. and M.Sc. in Financial Economics), focusing on research topics such as the evolution of financial systems and the changing nature of saving and investment, before moving on to become the economist for the Scottish Provident in Edinburgh. He also holds an MA (Hons) in Economic History from Aberdeen University.

The material in this communication is for information purposes only. At the time of publication, this information was believed to be accurate, but neither Citibank nor Citicorp Trustee Company Limited makes any representation or warranty to any person as to the accuracy or completeness of the material contained herein. The material contained herein does not constitute in any way investment or legal advice or a recommendation reference or endorsement by Citibank or Citicorp Trustee Company Limited or any person or entity named herein.