Date:
January 31, 2023
Time:
5:00 - 8:00 p.m. EDT
With refreshments and Networking
Presented By:
Mark Cianci
Tong Yu
Dan diBartolomeo
Sam ten Cate
Location:
Suffolk University Sargent Hall
1st Floor, Keches Room (Room 170)
120 Tremont Street, Boston, MA 02108
The recent collapse of the FTX cryptocurrency exchange has put the entire ecosystem of digital assets on notice that the risk exposure associated with lack of internal controls and compliance with corporate governance may be as great, or greater than the risk of large-scale thefts from hacking.
Contagion effects are already evident. At least two other crypto finance organizations, BlockFI and BitFront have shut down and a third, Genesis, has announced it is “attempting to avoid a bankruptcy filing”. Multiple regulatory agencies from the US, EU, and other nations have made public statements expressing a wide variety of views on whether regulation is necessary or would simply legitimize activities that are inherently flawed.
Nevertheless, many mainstream financial institutions such as Fidelity, State Street, and BNY Mellon have created internal teams to service digital assets based on blockchain technology.
In this seminar, top experts drawn from major financial service organizations, law firms, and the digital asset industry will be speaking on ways to manage risk exposure in such transactions and improve the systemic stability of the digital asset world.
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5:00 pm - 5:15 pm
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Welcome to Suffolk University and Panel Introduction
Prof. Abu Jalal, Chair of Finance Department and MSF Director
Prof. Lin Guo, Professor of Finance
Dan DiBartolomeo and Sohayla Fitzpatrick, Regional Directors of PRMIA Boston Chapter |
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5:15 pm – 7:15 pm
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Panelist Presentations and Discussions
Mark Cianci from Ropes and Gray will be talking about the structure and regulation of digital transaction processing
Dan diBartolomeo from Northfield will be presenting an analytical model estimating market risk for digital assets and combining market risk and counterparty risk in a single measure
Tong Yu, Vigil M. Schwarm Professor of Finance in the Lindner School of Business at the University of Cincinnati
Sam ten Cate, Managing Director from State Street Digital will provide a brief history of digital asset (crypto) regulation drivers in the U.S. and highlight primary source reports relevant for financial institutions. Discuss heightened digital risks and risk management approaches.
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7:15 pm - 8:00 pm
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Networking and Refreshments
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Speakers
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Mark Cianci
Mark is a Counsel at Ropes & Gray, where he represents hedge funds, private equity firms and their portfolio companies, manufacturers, health care and life sciences companies, and clients in other industries in shareholder litigation (including securities litigation and breach of fiduciary duty actions), M&A litigation (including shareholder class actions, disclosure claims, appraisal proceedings, deal certainty litigation, and indemnity disputes), complex commercial litigation, cryptocurrency litigation, qui tam actions, bankruptcy litigation, and government investigation and enforcement matters. Mark also counsels clients in the blockchain and cryptocurrency space on a variety of regulatory considerations, including compliance with securities laws. In addition, Mark advises a range of clients on managing risk, navigating sensitive challenges, and anticipating litigation-related issues in the context of structuring acquisitions and other complex transactions.
Prior to joining the firm, Mark spent a year at Greater Boston Legal Services, trying housing and public benefits cases.
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Tong Yu
Tong Yu is the Vigil M. Schwarm Professor of Finance in the Lindner School of Business at the University of Cincinnati. His research has been on asset pricing, institutional investments, and Fintech. He published in academic journals such as the Journal of Financial Economics, Management Science, Journal of Accounting Research, Journal of Financial Intermediation, Review of Asset Pricing Studies, Journal of Corporate Finance, Journal of Banking and Finance, and Journal of Risk and Insurance. Tong received the Early Career Distinguished Scholarly Achievement Award from the American Risk and Insurance Association in 2011 and the Michael L. Dean Excellence in Graduate Teaching Award from the Lindner College of Business of University of Cincinnati in 2022, among other awards. He serves as associate editors of Financial Management, Financial Review, and China Finance Research International, and several other academic journals. He founded the China International Risk Forum in 2015 which hosts special-issue conference with the Pacific Basin Finance Journal each year.
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Sam ten Cate
Sam is a managing director at State Street Digital in the Product organization focused on Governance and Controls. Sam joined State Street Digital from Promontory Financial Group, where he most recently held the title of Senior Principal.
As Senior Principal, Sam partnered with financial services executives to promote positive state and federal regulatory outcomes. Sam specializes in digital assets (including custody, crypto currencies, tokenization, and DeFi), FinTech, and RegTech, and has broad experience working with crypto native firms, banks, non-banks, fintechs, and U.S. State and Federal regulators including the Fed, OCC, SEC, CFPB, and NYDFS.
Sam spent nearly a decade at Promontory working across practice groups partnering with financial services executives in the areas of non-financial risk, compliance, financial crimes, and technology and information risk, including the past two years focused exclusively on the designing, adapting, and right-sizing risk management programs for digital assets products and services.
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Moderator:
Dan DiBartolomeo
Dan is the founder and president of Northfield, a firm that provides analytical modeling over a global range of risk management applications. He has also held a Visiting Professorship at Brunel University (London) at their CARISMA Institute. Dan became the co-editor of the Journal of Asset Management in 2019. Among his more than fifty published research articles and books, was a study on digital currency risk, recently published by the J.P. Morgan Center at the University of Colorado Boulder, Denver Business School.
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| Continued Risk Learning Credits: 1 |
PRMIA Continued Risk Learning (CRL) programs provide you with the opportunity to formally recognize your professional development, documenting your evolution as a risk professional. Employers can see that you are not static, making you a highly valued, dynamic, and desirable employee. The CRL program is open to all Contributing, Sustaining, and Risk Leader members, providing a convenient and easily accessible way to submit, manage, track and document your activities online through the PRMIA CRL Center. To request CRL credits, please email [email protected].