Past Events

FinTech trends in the Asia-Pacific region: How new financial services players are reshaping the market

Mr. Bob Hayward,  Principal, Management Consulting APAC - KPMG

FinTech is a new industry segment at the intersection of the financial services and technology sectors. It allows technology-focused start-ups and new market entrants to create new platforms and products to enhance the services currently provided by the traditional financial services industry.

Technology firms, venture capitalists, entrepreneurs and traditional financial services providers have set their sights on this sector to provide better services to their retail and corporate customers. Thousands of new start-up firms have been funded in the last three years as Fintech spreads globally.

Bob Hayward is a specialist in this sector from KPMG and will discuss current trends for the FinTech market and set out threats and opportunities for the financial services industry. The discussion will focus on:

· Key market players and the role of financial regulators

· What parts of the industry value chain are likely to experience the most disruption from FinTech? How are incumbent firms responding?

· FinTech and its integration into traditional financial services firms’ processes including payments, investments, infrastructure, financing and analytics.

 

Global and US regulatory environment: current priorities, challenges and next steps

Mr. Kenneth E. Bentsen, Jr. – President & CEO, SIFMA & CEO, GFMA

Mr. David Strongin – Executive Director, GFMA

Global Financial Markets Association (GFMA) - Securities Industry and Financial Markets Association (SIFMA)

 

The global regulatory environment has changed significantly since the financial crisis and many of the regulations that are adopted by national regulators are drawn up in international fora and then transplanted into domestic legislation. But this regulatory environment is complicated: there can be conflicting priorities between different countries and indeed (not least within the US) between regulators within the same country.

The advocacy work of trade associations has therefore played an important role in influencing these decisions. The Global Financial Markets Association (GFMA) which is an umbrella organisation for trade associations in the US, Europe and Asia (SIFMA, AFME and ASIFMA respectively) has played an important role.

Kenneth E. Bentsen is CEO of GFMA and SIFMA and David Strongin (Executive Director of GFMA) will give a presentation including giving views on the following:

Global regulations: current priorities for regulators and institutions and challenges

The US regulatory environment, US regulators’ priorities and views on the possible regulatory outcomes as a result of the 2016 Presidential election.

Thoughts on the next steps for global (including Asian) regulators and what are likely to be their working practices and priorities.

Japan’s Labour and Employment Law: how to deal with cases of termination, harassment complaints and long-term sick leave

Ms. Akiko Yamakawa, Partner, Freshfields Bruckhaus Deringer

Japan’s labour and employment law contains features that sometimes are not  easy to understand and can be quite different to practices in other countries.  Lifetime employment, low work mobility and the peculiarities of the Japanese administrative and  legal systems can be difficult to navigate  when trying to implement change  within a firm’s workforce.

Akiko Yamakawa, Partner at Freshfields Bruckhaus Deringer will  discuss the legal implications of peoples management in Japan and give practical examples of dealing with these issues. The presentation will focus on:

· Termination: managing out poor performers, termination during probation, withdrawing offer letters, position elimination/reduction in work force, and dismissal for disciplinary reasons.

· Harassment issues: sexual harassment, power harassment, how to conduct an investigation and what actions to take.

· Dealing with long-term sick leave.

· Recent updates : Act to Advance Women’s Success in their Working Life and amendments to the Workers Dispatch Law .

Japan Tax Reform Program for 2016

Mr. Hans-Peter Musahl, Partner

Mr. Jonathan Stuart-Smith, Partner

 Mr. Kazuhiro Ebina, Partner

Financial Services Group, EY Tax Co. 

 

On December 16th  the Japanese Government released its annual Tax Reform Program (for the year 2016).  
Although the details of the tax reform will be unveiled in the bills revising the tax laws and the succeeding amended tax laws, cabinet orders and ministerial ordinances, this proposal represents a starting point to analyse possible changes within the Japanese taxation system.  
Experts from Ernst & Young will give IBA Japan members their insight on how these changes will impact the financial services industry in Japan. The presentation will cover various topics including:  

 

Update on the Japanese Income Tax amendments Changes related to Consumption Tax The 2016  Tax reform within the BEPS framework 

The new T+1 framework for JGBs: overview and what this means for firms

Mr. Masato Ui, Director, Payment and Settlement Systems Department, Bank of Japan

Mr. Nicolas Tollie, Head of Capital Markets and Japan Representative, Sia Partners KK

In the first half of 2018 the new framework to shorten JGB settlement cycle to T+1 will be implemented and, ahead of that, the necessary infrastructure is being put in place.

Mr. Ui, Director of the Payment and Settlement Systems Department at BOJ will discuss current issues related to the programme. He will set out:

Initiatives to reduce settlement risk after the Lehman crisis Shortening of the JGB settlement cycle (T+1) Challenges for cross-border transactions Development of the new BOJ-NET

In the second part of the presentation, Mr. Tollie from Sia Partners will examine the change from the users’ prospective: he will present the results of their market readiness survey, an operation model and  an infrastructure-readiness timeframe to prepare for this change. The presentation will also cover:

Special collateral repo and general collateral T+0 repo. Key challenges for market participants to comply with the JGB T+1 Working Group guidelines. guidelines.