AFB Seminar: The Use of Off-Channel Communications – Regulatory Enforcement Lessons from the U.S.

The use of personal devices for business communications continues to be a major compliance issue post-pandemic. Some of the world’s biggest financial services institutions have been fined unprecedented amounts by the US regulators including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

With increased scrutiny from the UK regulators, this in-person seminar in partnership with King & Spalding will look at lessons learned from case studies in the US, including potential updates to policies, procedures, and controls so that firms can more effectively manage compliance risk.

Why attend?

With remote and hybrid working arrangements now the norm for many firms in the wake of the pandemic, risks of misconduct have become heightened by the increased use of unmonitored and/or encrypted communication applications to exchange business-related information.

This seminar will consider the steps firms can take to help protect themselves against the risk of future regulatory enforcement action.

Who should attend?

This session is aimed at those working in Compliance, Risk and People functions.

Speakers

Aaron Stephens – Partner, Special Matters and Government Investigations

Aaron Stephens is an English and US qualified partner in the Special Matters and Government Investigations practice, twice named by Law360 as “White Collar Practice Group of the Year.” He specializes in representing financial institutions, corporate clients and senior individuals in highly sensitive litigation and investigations.

Aaron has advised clients on diverse matters across Europe, North America, Asia, the Middle East and Africa in the banking/financial services, energy, defence, construction & engineering and retail industries. He has a particular focus on anti-corruption, anti-money laundering, market abuse and fraud, and with commentators saying that “he understands complex matters and finds practical solutions … he is brilliant, a responsive and reassuring person to have on your side.” (Chambers UK 2020), and is “very easy to communicate with and finds solutions to complex problems” (Chambers UK 2022). 

Max Benjamin Hill, K.C. – Senior Counsel and Policy Advisor, Special Matters and Government Investigations

Sir Max Hill KC is one of the UK’s preeminent barristers, having been lead counsel on many of the country’s most high-profile cases and also spending five years as the Director of Public Prosecutions (DPP), the most senior non-political public prosecutor in England and Wales.

Max has more than three decades of experience defending and prosecuting some of the most complex financial crime, high-value fraud and criminal cases to arise out of the UK, covering issues such as cartel investigations, corruption, corporate criminal liability and terrorism funding. He has held a number of prominent positions, including serving as the UK Independent Reviewer of Terrorism Legislation, Leader of the South Eastern Circuit, Chairman of the Criminal Bar Association and Chairman of the Kalisher Trust. From 2018 to late 2023, Max served as the UK DPP, the most senior non-political public prosecutor in England and Wales after the attorney general and solicitor general.

Prior to working as the DPP, Max was the Head of Chambers at Red Lion Chambers, where he led various significant and high-profile trials – including the 2005 7/7 London bombings and the murder of Damilola Taylor. He also provided advice to the 2012 London Olympics.

Max was called to the Bar in 1987, appointed Recorder in 2004 and then Queen’s Counsel (now King’s Counsel) in 2008. In January 2024, he received a knighthood and was appointed a Knight Commander of the Order of the Bath (KCB) in the New Year’s Honours List for his services to law and order.

Peter Isajiw – Partner, Trial and Global Disputes

Peter Isajiw focuses on complex commercial and securities litigation, as well as regulatory enforcement and government investigations matters. He represents financial institutions, corporations, and individuals in high-stakes litigation involving business disputes, securities laws and regulations, fraud, corporate governance, and the fiduciary obligations of corporate directors.  Peter has represented multiple broker dealers, investment advisors, and numerous senior individuals in connection with US Regulatory Enforcement Proceedings related to Off-Channel Communications.

Legal 500 U.S. recognized Peter as a Key Individual for securities and shareholder litigation, and as a Key Lawyer and emerging partner talent in M&A Defense Litigation. He also received Legal 500’s Recognition of Excellence. Super Lawyers has listed him as a top-rated business litigation attorney in its New York Metro edition each year since 2014. Both the New York Law Journal and Super Lawyers named him as a Rising Star in 2013.

Peter has also been honored with the Burton Award for Distinguished Legal Writing for his article, “Cybersecurity Risks Reviewed: Directors and Officers Must Be Proactive and Prepared,” published in the Bloomberg BNA Corporate Accountability Report.

Logistics

Fee:             Included in AFB membership (no fee)

Location:    King & Spalding, 8 Bishopsgate, London EC2N 4BQ

Date:           Thursday 5 December 2024

Time:           09:00 – 10:15 (Arrival & refreshments from 08:30)

If you would like to submit a question or have any specific areas that you would like the session to address, please send them to the AFB at secretariat@foreignbanks.org.uk. You will receive details on how to join this session a week before the event.