New York’s capital market, stifled by stringent regulations, undue exposure to litigation risks, and the rapid growth of markets overseas, is in serious danger of losing its status as a competitive global financial center. A decline in competitiveness could cost New York tens of thousands of jobs and the United States between $15 and $30 billion in financial service revenues annually by 2011, damaging the third-largest sector of the U.S. economy, possibly irreparably.
|9:00 AM||OPENING REMARKS
Byron R. Wien, Chief Investment Strategist, Pequot Capital Management
|9:30 AM||PANEL DISCUSSION
Panel One: Right-Sizing Regulation. How have new regulations, in particular
Sarbanes Oxley, affected U.S. capital markets?
Stephen Bainbridge, Professor, UCLA School of Law
Larry Ribstein, Professor, Illinois College of Law
Nicole Gelinas, Contributing Editor, City Journal
Moderator: James R. Copland, Senior Fellow, Center for Legal Policy
|10:50 AM||Panel Two: Litigation Nation. How does securities litigation, including new expansions of auditor, office, and director liability, affect U.S. capital markets?
Christine Edwards, Partner, Winston & Strawn
Michael A. Perino, Professor, St John’s University School of Law
Peter J. Wallison, Senior Fellow, American Enterprise Institute
Moderator: Walter K. Olson, Senior Fellow, Center for Legal Policy
|1:00 PM||KEYNOTE ADDRESS
Robert Steel, Under Secretary for Domestic Finance, U.S. Department of the Treasury