Many thanks to

for hosting:

"How can we accelerate the rebuilding of trust and confidence in financial services?"

If you want to read testimonials...

 

If you haven't been to one of our events before you can use the link below to read some testimonials:

When and where is the meeting?

 

Registration is at 9AM for a 9:30 start; ending at 4PM  on Wednesday 11th September at:

 

Grant and Eisenhofer:

485 Lexington Ave,

New York,

NY 10017.

If you already know you want to attend

 

Click on the button below to secure your place and note that you have 3 ticket options: Standard, Reduced and Free. 

 

To explain:

 

The Transparency Task Force is a not-for-profit and we are desperate for funds to help keep our efforts going - we’re just about surviving, but it isn’t easy. 

 

If you can afford it, please select the Standard Ticket Price ($245) but if that is genuinely beyond your budget, not to worry - select the Reduced Ticket price option and pay what you are comfortable with. Furthermore, if for any reason you do not want to make a contribution at all, select the Free Ticket option.

 

Regardless of which ticket option you select you'd be equally welcome to attend.

 

You can pay through PayPal or invoice. 

 

Thank you!

What can you expect at your meeting?

 

You can expect to be amongst progressively-minded and collaboratively-minded people who are keen to understand how they can get involved with a truly pioneering project that is dedicated to reforming the financial services industry.

 

We are working together to help rebuild trust and confidence in financial services and help consumers get a better deal.

 

You will learn all about the project - how it started; what has happened so far; what is going to be happening in due course and so on. 

 

In particular, you will be able to learn about and feed into the creation of a “Framework for Finance Reform.” At the heart of the “Framework for Finance Reform” are “The 12 Finance Development Goals.”

 

The 12 Finance Development Goals are a similar concept to the United Nations' Sustainable Development Goals but instead of dealing with issues such as hunger, climate change, access to clean water and gender equality; they deal with well-known financial services problem areas such as conflicts of interest, the “profits before principles” mindset, the need for better governance and the desperate need for greater transparency.

 

The development of the Finance Development Goals (FDGs) is bringing together a very wide cross-section of stakeholders, right around the world, including politicians, policymakers, financial regulators, financial trade bodies and professional associations; plus many commercial organisations, leading academics and think tanks etc. 

 

You will learn how the project is gaining traction amongst a wide cross-section of stakeholders including policymakers, politicians, regulators, professional associations, trade bodies, academics, thought leaders, commercial organisations; plus investment, insurance, banking and pension professionals, and so on.

 

There will be presentations from individuals with interesting insights and experiences to share; plus a panel session.

 

There will be ample scope for discussion and debate so that all attendees will be able to share their views and ideas.

 

You can expect the meeting to function as a highly interactive and highly engaging workshop, where everybody gets the opportunity to participate as much as they would like to.

 

We know that using that approach we will be able to harness the camaraderie, collegiality and willingness to collaborate that the project is already cultivating, right around the world. 

Here's the programme, so far*

 

09:00 

Registration, refreshments and networking

 

09:30

Welcome to the event by 

Guus Waringa, Partner, Grant & Eisenhofer

 

09:35

Andy Agathangelou, Founder of the Transparency Task Force to introduce the Transparency Task Force and set the scene for the event; explaining the overall rationale for the major international project we have embarked on; and how we plan to make it work. 

 

This part of the programme will include an explanation of the Finance Development Goals that are being created:

  • Be transparent
  • Be Evidence-Based
  • Govern well
  • Create a client-centric culture
  • Design products that deliver
  • Communicate authentically
  • Act with purposefulness
  • Incentivise responsibly
  • Manage risk
  • Stabilise the ecosystem
  • Raise awareness through education
  • Protect consumers from harm

You will also hear about:

  • What the trust deficit is and why it must be dealt with
  • Why all stakeholders should want to get involved
  • "The Framework for Finance Reform"
  • "The 12 Finance Development Goals"
  • "The book that is much more than just a book"
  • "The Subject-Matter Experts"
  • "The Scientific Committee"
  • How you can get involved, if you wish
  • Output so far from meetings in Europe and the USA

 

10:40

Presentation by

Guus Waringa, Partner, Grant & Eisenhofer

 

11:00

Refreshments and further networking

 

11:30

Presentation by

Stefan Pagacik, Founder, AI 4 Impact; Ambassador of the Transparency Task Force

 

11:50

Presentation by

William Jannace, General Counsel, Ross PLLC; former regulator at the American Stock Exchange, New York Stock Exchange and FINRA; Ambassador of the Transparency Task Force

 

12:10

Presentation by

To be advised

 

12:30

Presentation by

To be advised

 

12:50

Presentation of the Transparency Trophy; a special trophy is awarded to a champion of transparency and finance reform at each of our symposia around the world

 

13:00

Lunch and networking

 

13:55

Team Photo, optional

 

14:00

The Power Panel leading to the Open Debate; where all attendees and speakers will have the opportunity to freely discuss the key issues raised through the course of the meeting and explore what action can be taken in response to the question:

 

"How can we accelerate the rebuilding of trust and confidence in financial services?"

 

This is perhaps the most important part of the whole meeting!

 

Our Power Panellists are:

 

 - Carol Nolan Drake, Founder, Carlow Consulting LLC; Published Author

 

 - Aivars Lode, Chairman, IT Capital LLC; Published Author; Ambassador of the Transparency Task Force

 

 - Panellist to be added

 

 - Panellist to be added

 

15:20

Andy Agathangelou, Founder of the Transparency Task Force to cover off key conclusions and suggested next steps

 

15:30

Refreshments and further networking

 

16:00

Final close

*The programme will continuously evolve so is subject to change

For more detail about the project...

 

Click on the button below to get to a special web page that provides a full and detailed explanation of the project:

Places are limited; to secure yours:

 

Click on the button below to secure your place and note that you have 3 ticket options: Standard, Reduced and Free. 

 

To explain:

 

The Transparency Task Force is a not-for-profit and we are desperate for funds to help keep our efforts going - we’re just about surviving, but it isn’t easy. 

 

If you can afford it, please select the Standard Ticket Price ($245) but if that is genuinely beyond your budget, not to worry - select the Reduced Ticket price option and pay what you are comfortable with. Furthermore, if for any reason you do not want to make a contribution at all, select the Free Ticket option.

 

Regardless of which ticket option you select you'd be equally welcome to attend.

 

You can pay through PayPal or invoice. 

 

Thank you!

Bios of key participants

provided thus far

Andy Agathangelou FRSA,

Founder, 

Transparency Task Force

 

Andy will be Chairing the Symposium. His overall objective is to galvanise support for the idea that greater transparency in financial services can drive positive, transformational change for the benefit of all.

 

Andy formed the Transparency Task Force following a meeting he led at Senate House, University of London on 6th May 2015. The meeting was the about the trust deficit that is impacting financial services and how harnessing the transformational power of transparency can drive the change that is needed.

 

That meeting set off a chain of events that led directly to the creation of the collaborative, campaigning community that is the Transparency Task Force.

 

Our activity is is built on the idea that 'Sunlight is the Best Disinfectant' and our guiding "North Star" question is "what is best for the consumer?"

 

The mission of the Transparency Task Force is

 

"To help protect consumers' financial interests by reforming the financial services industry around the world, through harnessing the transformational power of transprency"

 

We have many Special Interest Groups made up of subject-matter experts working collaboratively:

https://www.transparencytaskforce.org/teams-of-volunteers/

 

We are building a global network of Ambassadors:

https://www.transparencytaskforce.org/ttf-ambassadors/

 

We are working hard to rebuild trust and confidence in financial services through creating a Framework for Finance Reform built on the Finance Development Goals:

https://www.transparencytaskforce.org/rebuilding-trust-confidence-in-financial-services/

 

We have a highly credible Advisory Board:

https://www.transparencytaskforce.org/about-1/advisory-board/

 

Andy is also:

  • Chair, the Interoperability Steering Group
  • Governor, Pensions Policy Institute
  • Fellow, the RSA
  • Former Chair, Pensions BIB
  • Former Founding Chair, Friends of Auto Enrolment
  • Former Founding Chair, Friends of the Association of Member Nominated Trustees

Guus Warringa,

Institutional Investor Relations, 

Grant & Eisenhofer

 

Guus Warringa joined G&E in September 2015 where he works with the Firm’s institutional investor clients. From 2008 until mid-2015, Mr. Warringa served as General Counsel for APG N.V. – one of the world’s leading institutional investors with more than Euro 474 billion of pension funds’ assets. During his tenure, Mr. Warringa served as a leading voice for institutional investors and was, inter alia, instrumental in campaigning against the adverse consequences for pension funds of the financial transaction tax and the European Market Infrastructure Regulation (EMIR) on behalf the European pension fund sector. Additionally, as a board member of APG Asset Management, Mr. Warringa was directly involved in the development of APG’s investment strategy and jointly responsible for the risk and return of the company’s investment process. In 2011, Warringa was named by Financial News as one of the most influential figures in European capital markets.

 

Before joining APG, Mr. Warringa served as General Counsel for two internationally operating financial services firms. His first role was General Counsel, Compliance Officer and Company Secretary for the international investment firm AOT N.V. (now Binck Bank N.V.). The company, which focused on stocks, commodities and derivatives, was one of the first option traders to be listed on the Dutch options exchange. Following his departure from AOT, Mr. Warringa joined the pan-European exchange, Euronext (later becoming NYSE Euronext) where, while based in both Amsterdam and Paris, he held several senior positions, working with the securities exchanges of Paris, Lisbon and Brussels and serving as General Counsel for the Dutch exchange.

 

Mr. Warringa began his career in private practice having graduated from Leiden University and Cambridge University. His Saturdays are spent coaching the various soccer teams in which his four sons play. Mr. Warringa is happily married to Sabrina who runs a dental practice in their home town.

Aivars Lode,

Chairman,

IT Capital

 

Aivars is a global entrepreneur and Founder of IT Capital. Aivars is best known for his skills in identifying new business opportunities and re-engineering existing businesses to make them profitable. His ability to identify patterns in business cycles as they occur across the globe led him to start blogging in 2006 about global economics and he accurately predicted the 2008 financial crisis.  He is the author of three books on the future of global economics (available at aivarslode.blogspot.com). Aivars continues to identify best practices, people, processes and technology deployed elsewhere in the world and bring them to the USA.

 

In the early 2000s Aivars founded Avantce, a private equity firm, in order to invest in software companies. Aivars was instrumental in a number of investments including Robocom Systems International, Select, Radcliffe, ADT, Aviva Solutions and ROI. In addition to his own investments Aivars has been retained by private equity firms CVC Capital Partners, Golden Gate Capital, Bain Capital and Welsh Carson Anderson & Stowe to advise on their acquisition strategies in Software.

 

Aivars successfully participated in creating the strategies for companies like IBM’s EDI business, Inovis, Infor and Mincom. Further, Aivars created a consortium to acquire the major airline cargo space for optimization, this resulted in private equity firms Welsh Carson and General Atlantic investing in 3rd party logistics providers.   

 

Prior to founding Avantcé, Aivars was Group President of Descartes Systems Group, a publicly traded supply chain solutions company, based in Canada.  As Group President, Aivars led the company's global expansion efforts, achieving profitable growth as well as completing the successful acquisition and consolidation of two EDI businesses, TDNI and TranSettlements.

 

Prior to joining Descartes, Aivars was with Oracle heading up Applications Software for Australasia. He led the organization’s change from a direct aggressive customer relationship model to that of a consultative business partner.

Aivars first entered the technology industry in 1991, when he joined Dun & Bradstreet Software.  Prior to that he held various management positions, including COO, CFO and CIO roles in both public and private corporations.

 

Throughout his career Aivars has lived in Australia, Canada, Singapore, Hong Kong and has conducted business in most of the industrialized countries in the world.  Aivars holds a Bachelors of Business, Accounting from Swinburne University in Melbourne Australia.  Aivars is a past member of the Board of Directors at First Bank and Trust of Illinois.

William Jannace

Senior Counsel,

Ross PLLC

 

William Jannace has worked nearly 30 years in the securities industry at the American and New York Stock Exchanges and FINRA. As a senior counsel at Ross PLLC, he advises clients across a range of applications and compliance needs. Currently he is also focused on blockchain industry related broker-dealer and ATS advice, FinHub referrals, and related matters.

 

He is also an adjunct professor/lecturer at Fordham School of Law, Wharton Business School, Georgetown Global Education Institute, the Global Financial Markets Institute, Baruch University, The TABB Group, and the Financial Markets World, where he teaches courses covering: 

 

  • Capital Markets/IPOs/Exempt Offerings/ADRs
  • Securities/SRO/Mutual Fund/Investment Adviser/Broker-Dealer Regulation
  • Broker-Dealer Operations/Net Capital/Customer Protection/Prime Brokerage/Short Selling/Clearance and Settlement.
  • Corporate Governance/Proxy/Activism/Corporate Social Responsibility/Environmental, Social, Governance/Impact Investing/Climate Change/, State Capitalism/Family Firms/ Sovereign Wealth Funds/Geopolitics/Geoeconomics.

 

He has also taught courses at The U.S. Army War College, New York Law School, Wharton Business School, Drexel University, New York University, Pace University, Securities Training Corporation, New York Institute of Finance, New York Society of Security Analysts, and the Securities Industry Institute/Wharton Business School on the above topics.

 

He was an account executive at Georgeson and D.F. King serving as liaison for corporations/institutional shareholders regarding corporate governance issues; assisted on proxy fights/tender offers for corporate raiders/listed companies; liaison with trading floor and arbitrageurs to provide market color to listed companies; monitored trading versus 13F filings to determine changes in shareholder ownership. He was also Series 7/63 licensed at Drexel Burnham/Paine Webber and was also a consultant for The World Bank.

 

International Experience

 

Mr. Jannace also conducted overseas training programs for the: Russian Securities Commission/Stock Exchange; The Capital Markets Authorities in : Uganda, Burundi, Tanzania and Kenya; Saudi Arabian Capital Markets Authority; Securities and Exchange Board of India; Ukrainian Securities Commission/Stock Market; Romanian Securities Commission; Jordanian Securities Commission; Capital Markets Authority of Turkey; Albanian Financial Supervisory Authority; New York Institute of Finance- Beijing/China, the Taiwan Stock Exchange and for IOSCO in Spain.

 

Primary Practice Areas

 

In managing FINRA’s Sales Practice Policy department William Jannace and his staff responded to interpretive, policy and disposition requests, covering capital markets, research, books and records, supervision, outsourcing, bank sweeps, outside business activities/private securities transactions and conflicts of interest. Mr. Jannace also worked in the Enforcement Department where he investigated violations of federal securities laws/SRO rules, conducted OTRs, drafted reports of investigation/statement of charges/settlements and conducted contested/settlement proceeding.

 

As a regulator, Mr. Jannace interfaced with the SEC, NASD, state regulators/trade associations (SIFMA) in shepherding proposals for approval; and helped draft reports on research analyst conflicts; secondary trading of private companies; transparency enhancements to the securities lending marketplace; and on mutual regulatory recognition. He participated in the Compliance Advisory Group, OSRC, and IOSCO initiatives. He also worked with OFAC and the SEC to help firms identify potential money laundering issues and to restrict terrorist financing post 9/11.  He led a FINRA initiative to rewrite its membership rules. Rule proposals/guidance included:

 

  • SRO Rule Harmonization/Business Continuity/Contingency Planning
  • CEO Certification/Internal Controls/Supervision/
  • Review/Supervision of Electronic Communications
  • AML/Patriot Act/OFAC/SDNs
  • IPO Allocations/Research Analyst Conflicts/Qualification Examination
  • Portfolio Margin/Capital

 

He also worked at TD Securities and Smith Barney Shearson, providing legal advice on/reviewed or responsible for:

 

  • Regulation D/S offerings/144A/144 resales/10b-18 share buybacks
  • Offering Memorandums/Underwriting and Prime Brokerage Agreements
  • Research reports and trading approvals for new issues/secondary offerings
  • Ensured trade reporting/Control Room/employee/firm trading compliance

 

Dispute Resolution Experience and Training

 

William Jannace is a CIArb Fellow, a FINRA Non-Public arbitrator, a member of the New York International Arbitration Center, a judge for the FINRA Annual Securities Dispute Resolution Triathlon, and arbitrator for the Willem C. Vis Moot Court at Fordham Law School. He also attended Mediation Training at the NYCBA and received a Certificate in International Commercial Arbitration from Columbia Law School/Chartered Institute of Arbitrators.  He is also a research affiliate with the Fletcher Network for Sovereign Wealth and Global Capital. Mr. Jannace received his JD from New York Law School in 1992, his LL.M. in Corporate, Banking, and Finance Law from Fordham Law School in 1996, is a member of the State Bars of New York and Connecticut; received a Certificate in Global Affairs at New York University and Environmental, Social and Governance investment training from the International Corporate Governance Network.

 

International Experience

 

Mr. Jannace also conducted overseas training programs for the: Russian Securities Commission/Stock Exchange; The Capital Markets Authorities in: Uganda, Burundi, Tanzania and Kenya; Saudi Arabian Capital Markets Authority; Securities and Exchange Board of India; Ukrainian Securities Commission/Stock Market; Romanian Securities Commission; Jordanian Securities Commission; Capital Markets Authority of Turkey; Albanian Financial Supervisory Authority; New York Institute of Finance- Beijing/China, the Taiwan Stock Exchange and for IOSCO in Spain.

 

Publications, Speaking Engagements and/or Professional and Civic Associations

 

He has also volunteered for the Interfaith Center on Corporate Responsibility, the Asset Owners Disclosure Project, UNICEF and served as a judge for the SIFMA Foundation InvestWrite Competition. Mr. Jannace is a member of the Bretton Woods Committee and the NGO Committee To Stop Trafficking in Persons. He is also active in raising funds and awareness for humanitarian assistance and an active supporter of education through the establishment of the Anthony E. Jannace scholarship at New York Law School and the Susan M. Jannace scholarship at Fordham University. 

 

He has contributed to the following publications:

 

“Bretton Woods 4.0 Finding New Relevance in a New World Order,” By Dr. Paul Tiffany and William Jannace, Bretton Woods@75 Blog and Compendium, February 2019.

 

“Cautionary Notes for Supply Chain Managers and Others Involved in Global Sourcing & Partnerships (Human Trafficking & Modern Slavery Conditions Raise Reputational Risks),” Governance & Accountability Institute, January 2018).

         

“Sustainability Disclosures in the EU,” Insights, The Corporate and Securities Law Advisor, Volume 31, Number 8, August 2017.

 

“Sustainability Disclosures in the EU: Implementation of the 2014 EU Non-Financial Reporting Directive,” ABA, Spring 2017.

 

“Accounting for Trade: President Trump and the Geopolitical Balance Sheet,” NYU-Global Affairs   Perspectives on Global Issues, Spring 2017.

 

“NASD/NYSE Rule Harmonization: What Do the Changes Mean in Practice, “The Journal of Securities Compliance, Volume One, October 2007.

 

His speaking engagements include: Securities Regulation/Corporate Governance/Capital Markets, Impact Investing/ESG, and Broker-Dealer Operations/Market Structure/Clearance and Settlement for:

 

  • Skytop ESG Investing Conference
  • Skytop Impact Investing Conference
  • Skytop Strategies-Compliance Conference
  • UNICEF-Human Trafficking Podcast
  • Skytop Strategies-Impact Investment Conference
  • Chinese Securities Regulatory Commission
  • China Construction Bank
  • Iraq Stock Exchange
  • Securities and Exchange Bureau of India
  • Tokyo Stock Exchange
  • Hawkamah Institute for Corporate Governance
  • Kenyan Capital Markets Authority
  • El Salvador Securities and Exchange Commission
  • Ghana Stock Exchange
  • Mexican Banking and Securities Commission
  • Sarajevo Stock Exchange/Securities Commission
  • Saudi Arabian Capital Markets Authority
  • Central Bank of Kosovo
  • Malaysian Securities Commission
  • SEC Annual Institute for Securities Market
  • US State Department Foreign Delegation
  • Hong Kong Securities Commission
  • Philippine Dealing System Holdings
  • Treasury Department of Argentina
  • Ontario Securities Commission
  • Securities Operations Forum
  • ALI-ABA Compliance and Enforcement Conference
  • SIFMA lAD and Fixed-Income Conferences
  • FINRA Spring Conference
  • NYSE Regulatory Conferences
  • SIFMA Equity Capital Markets and Research Management Conferences
  • BD Week Annual Compliance Conference
  • SIFMA Annual Legal and Compliance Conferences
  • NASD Institute for Professional Development
  • ABA Conference.

Bar Admissions: Member of the New York and Connecticut Bars

The Great Divide

You can read the speech by  Andrew G. Haldane, FAcSS (the Bank of England's Chief Economist and Executive Director of Monetary Analysis and Statistics) that he gave on 18th May 2016 at the New City Agenda Annual dinner.

 

The speech is entitled The Great Divide and it is a first class explanation of why the trust deficit really matters and why it makes sense to try to do something about it.

 

Please click on the green button to access it; if you're not convinced of its relevance to our initiative, here's part of it:

 

..."The most important and compelling message the Bank received at the Open Forum came in the first session. The Bank had conducted some polling of perceptions of the financial sector – for example, by asking people what one word best described the future of financial markets. Among the Bank’s usual contacts, including those in the financial sector, the most used word was “regulated”. Many of us will have heard that message from financial insiders concerned about the perils of over-zealous regulators.

 

For me, the more revealing responses came from the general public, from the customers, rather than the producers, of financial services. The word most used by them when describing financial markets was a rather different one: it was “corrupt”. Not far behind were words like “manipulated”, “self-serving”, “destructive” and “greedy”. I am sure many of you have heard those messages too. They are certainly ones I have encountered frequently on my visits around the country."...

 

Please click the green button  below to access the full speech. If you need to read another piece first, here it is:

 

..."At least until recently many economists like me, when faced with this evidence, might have shrugged our shoulders. Social capital had no real role in our models of economic growth, unlike physical capital and human capital. Trust did not butter our parsnips and nor did it enter our production functions.

 

Recently, however, that orthodoxy has changed and the importance of trust has become clearer.

 

Evidence has emerged, both micro and macro, to suggest trust may play a crucial role in value creation. At the micro level, there is now ample evidence the degree of trust or social capital within a company contributes positively to its value creation capacity. 

 

At the macro level, there is now a strong body of evidence, looking across a large range of countries and over long periods of time, that high levels of trust and co-operation are associated with higher economic growth.

 

Put differently, a lack of trust jeopardises one of finance’s key societal functions – higher growth.

 

Those social capital effects appear to be particularly potent when it comes to financial decisions. Evidence suggests that a lack of trust leads people to retreat from the stock market and banks and to move towards cash holdings and informal sources of credit, such as payday lenders and loan sharks. That jeopardises the second key benefit of finance to society – improved risk-sharing by households and companies.

 

So a lack of trust in finance potentially hobbles both economic growth and financial stability.

 

That lack of trust is the mirror-image of the perception gap between the financial sector and wider society, the Great Divide.

 

The Great Divide matters because it signals a pronounced and protracted erosion of social capital. It puts finance on notice for losing its social licence. And, unaddressed, that jeopardises future wealth and well-being."...

 

Please click on the green button to access the full speech. If you're not yet convinced you should, here's a final snippet:

 

..." As a survey in 2013 of financial professionals found, rather remarkably, that over half believed their competitors engaged in illegal or unethical behaviour.  A smaller, but still high, fraction of 24% believed their own company engaged in such practices. Similar percentages believed their industry did not fulfil its fiduciary function of putting clients’ interests first.

The significance of these findings is not the precise percentages, as striking as these are.

 

More fundamentally, it is because of what they reveal about finance’s perception of itself, the mirror it holds to the social identity of finance."...

 

Click onto the button below to access the full speech; you'll be glad you did, it's profoundly thought-provoking for anybody interested in the future of the financial services industry:

If you are not already on the right page and want to read about our major international project to help rebuild trustworthiness and confidence in financial services, click on the orange button below:

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