Overview
The Capital Markets: Development, Regulation and Current Trends seminar highlights the major issues and procedures relating to the development and regulation of capital and securities markets in developing economies, with a special focus on recent developments and trends. Participants will discuss both the major building blocks of an effective capital market and the policy environment needed to help its development in the light of the present ever-changing environment. The seminar also includes issues related to the growing interaction of emerging markets with developed capital markets.
Certification
Upon successful completion of the seminar, each participant will be awarded a Certificate of Completion. Successful completion requires that a participant diligently attend all seminar sessions promptly and on time throughout the seminar, read all assignments, and participate in all group discussions and exercises. If a number of sessions are missed without proper reason, the ILI reserves the right to withhold certification.
Format
This seminar is currently offered in-person. Special requests to attend online must be submitted by email as early as possible. Requests will be considered on a case-by-case basis, taking into account the overall experience of each participant and the larger group. In-person seminars, even when being joined online, run from 9:30 am – 4:00 pm Washington, D.C., time.
Course Outline
Legal, Regulatory and Institutional Framework
- Institutional structure related to market’s needs
- Government regulation: securities laws, securities exchange commissions, central banks, ministries of finance
- Stock exchanges: rules and regulations, self or external regulation, membership and listing standards
- Corporate governance
- Transparency
Development of Capital Markets
- Policy issues affecting development of capital markets
- Managing risks and responding to crises in Capital Markets
- Capital markets and private equity, venture capital and infrastructure funds
- Instruments, including the introduction of green finance instruments
Role of Participants in Capital Markets
- Regulators, financial institutions, accountants/auditors, government
- Issuers of securities in capital markets
- Investors in capital markets: individuals and institutional players
- Professionals: brokers, dealers, underwriters
- Financial intermediaries: commercial banks, merchant banks, mutual funds, hedge funds, insurance companies, pension funds
- Initial public offerings (IPOs)
- Participants are encouraged to reference and discuss current developments and trends in their home countries in respect to all the focus areas above
Course Advisor
Paul Freedman is the Executive Vice President, General Counsel and Corporate Secretary at the AES Corporation, a global energy company. Over his 17 years at AES he has advanced numerous transformative initiatives to position AES as a global leader in the acceleration of a cleaner energy future. Paul leads the global legal team, serves as a principal advisor to the Board and oversees our ethics and compliance functions. He previously served as Chief of Staff to the CEO and in several positions in AES’ legal group, working on M&A, joint ventures, project development and regulatory matters. Prior to AES, Paul spent five years as the chief legal advisor of the US Agency for International Development worldwide credit guaranty program, driving the portfolio from $100M to $1B to foster sustainable development and stimulate the economy in developing countries. He began his career working as a project finance lawyer at the law firms of White & Case and Freshfields. Paul earned his bachelor’s degree at Columbia University and Juris Doctor at the Georgetown University Law Center.