Conference Day One: Tuesday November 18, 2008

8:45 CHAIRMAN’S WELCOME & OPENING REMARKS

9:00 Updating On The Overall State Of Litigation

• Discuss how the problems that began in the subprime mortgage litigation has spilled over into other areas of the mortgage industry and the capital markets
  • Areas involved
  • Type of cases filed
  • Emerging trends of litigation
• Analyzing the consequences of the credit crisis & its players involved:
  • lenders
  • issuers
  • underwriters
  • rating agencies
  • accounting firms
  • bond insurers
  • hedge funds
• Evaluating loan types/indexes & their involvement:
  • CDOs
  • ABX
  • Option ARM loans
  • Alt-A loans

10:00 Providing An Overview Of SEC’s Enforcement Strategies

• Providing an overview of how SEC puts together a subprime case
• Discussing where the inspections are going (areas of pursuit)
• Summarizing disclosure issues involving different parties (investors, insurers, rating agencies etc.)
• Examining the current cases
• Considering new consumer protection laws – implication & impacts
• Identifying what financial sectors will be involved next

Tami Stark
Assistant Regional Director, Philadelphia
SECURITIES AND EXCHANGE COMMISSION (SEC)

11:15 Learn About DOJ & FBI’s Approach To Subprime Cases

• Understanding DOJ’s mission & objectives
• Discussing FBI & DOJ’s liaison with private industry
• Identifying what to expect when in contact with agencies
• Providing an overview of how the FBI puts together a subprime case
• Providing an overview of how DOJ puts together a subprime case

Sean Haran
Deputy Chief, Business and Securities Fraud
U.S. ATTORNEY’S OFFICE Eastern District of New York

12:15 Examine Recent Judicial Developments Affecting Subprime & Structured Finance Litigation

• Updating on recent jurisdiction & developments
• Evaluating New York standards for granting of foreclosure
• Discussing who owns the notes
• Understanding issues with assignment on mortgages
• Analyzing the impact of recent cases
• Summarizing on the trends of litigation – lost causation

2:00 Shareholder Class Action Litigation Panel

• Summarizing & analyzing the types of claims
• Discussing what type of defenses are being put forward (different roles of defendants)
• Lost- Causation analysis
• Identifying key players involved

3:00 EDiscovery Best Practices For Class Action Lawsuits, Government Investigation, And Regulatory Activities

The recent subprime and financial crisis has caused a sea-change in the financial industry and has resulted in increased litigation and investigations. With mergers, acquisitions, and outright collapses, organizations are finding themselves with more electronic data to review than ever before. Adding to the challenge are the countless of hours of recorded conversations and voicemails. This panel will look at best practices organizations can use to prepare for eDiscovery requests related to litigation, government investigation, and regulatory activities as they relate to the subprime and financial crisis. Topics will include:

• Performing early case assessment on all data sources
• Using automated technologies to analyze, search, and cull voice data
• Issuing and enforcing legal holds and preservation orders
• Bridging the gap between Legal and IT

4:15 Litigating Credit Default Swaps

The CDS market exploded over the past decade to more than $53 trillion in 2007, according to the International Swaps and Derivatives Association. This far exceeds the $7.1 trillion mortgage market and $4.4 trillion U.S. treasuries market. Once an obscure financial instrument for banks and bondholders, the CDS market could become the next frontline of the credit crisis. Credit default swaps are the subject of several pending lawsuits in addition to federal investigations. On October 20th, 2008, the U.S. Attorneys office and the NY Attorney’s office announced a comprehensive investigation of this market.

• Overview of the allegations in credit default swap lawsuits
• Update of the Federal investigations in the CDS market
• Brief overview of credit default swaps and their role in the current crisis
• Economic analysis of the allegations
• The role of the subprime mortgage credit derivatives, the ABX indices in the current crisis

5:00 Conducting Internal Investigations

• Implementing adequate risk assessment tools
• Overcoming challenges of valuation minimizing exposures
• Discussing the role of in-house counsel in initiating and conducting internal investigations
• Exploring unique standings of the finance compliance officers
• Understanding parallel civil proceedings

[ Register Now] · [ Next: Conference Day Two: Wednesday November 19, 2008 ]