Agenda

Financial institutions are not only experiencing a tougher regulatory environment post-crisis, they are facing an erosion of public trust, and for some commentators, even having to justify their role in society. How will the banking industry evolve in this radically altered landscape? What measures are banks taking to become more accountable? What lessons have been learned from the financial crisis? Given the structural changes imposed by regulators, where will banks look for new growth opportunities, and what challenges will they face in the future?

The regulatory landscape is undergoing a profound transformation. After the bank rescues of the last two years, governments and policy makers around the world are now concentrating their efforts on creating new frameworks for financial supervision. What are the key features of the emerging financial architecture and how will they impact the financial sector for the years to come? To what extent will the new rules and regulators' powers help avert another financial meltdown? Has regulation tackled the fundamental causes of the crisis? What proposals are emerging worldwide, what coordinated actions are needed and how can they be designed to avoid regulatory arbitrage and fragmentation?

The post-crisis transformation in the financial regulatory environment is set to have a deep impact on institutions investing in alternative assets, as well as those serving alternative investment managers, with hedge funds and derivatives trading among the key areas being targeted for reform on both sides of the Atlantic. How will alternative investment managers cope, and what will the impact be on broker/dealers and exchanges that depend on derivatives for a large share of their income? What are the most secure hedging instruments for treasurers facing continued tight liquidity and low yields? As regulators focus on reducing both transactional and systemic risk in the financial sector, how are financial firms generally assessing and managing risk? What innovative strategies have been introduced to respond to these uncertain times?

Financial institutions in the most rapidly growing emerging markets such as China, India and Brazil have the opportunity to become important actors in the world economy. They are generally well funded and capitalized and have experienced strong growth despite the financial crisis. Are banking opportunities shifting from rich countries to the developing world? What challenges do emerging market banks face at home and abroad? What lessons can be learned from the recent crisis and what business and regulatory structures are needed to spur their further growth?