The Impacts of U.S. Financial Reform on the Life Settlement Market
9:20 - 10:00 AM
What will new regulations on hedge funds and fund managers adopted by the federal government mean for Life Settlement funds and the availability of capital? This presentation explores the expected impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
SPEAKERS: BRIAN CASEY, Locke Lord Bissell & Liddell; STEVEN HUTTLER, Sadis & Goldberg

Are Life Settlements a Suitable Asset for the Retail Market?
10:05 - 10:55 AM
Most mainstream market players believe Life Settlements only should be purchased by investors with the sophistication to understand the risks of this illiquid asset. But there is a view that knowledgeable retail investors should be able to benefit from investing in Life Settlements. What should the industry be doing to better protect and educate these investors and police irresponsible investment advisers and marketers? When do investments in Life Settlements need to be registered as securities?
MODERATOR: DAVID-RAWSON MACKENZIE, Centurion Fund Managers
PANELISTS: ANDREW MURPHY, Mosaic Caribe; SCOTT PEDEN, Life Partners; JOE ROTUNDA, Texas State Securities Board; ERIC WERNER, Securities & Exchange Commission

Compliance & Rule Making: Developing Regulations to Enact New Life Settlement Laws
11:30 - 12:30 PM
Will this be the year that the market becomes fully regulated? The big focus this year has been on regulators' efforts to adopt rules to implement new laws in California, New York, Illinois and Ohio. This panel discusses how market participants fight to make sure rules are consistent with the laws as well as compliance efforts by settlement companies.
MODERATOR: JACK KELLY, Institutional Life Markets Association
PANELISTS: KAREN CANOFF, Life Settlement Solutions; PETER KOUTOUJIAN (D), Massachusetts House of Representatives; BRIAN SMITH, Life Equity; BRIAN K. STAPLES, Right LLC

Life Expectancies: Are Investors Developing Their Own Underwriting Expertise?
2:25 - 3:25 PM
The debate over accuracy of life expectancy estimates has taken a new direction with sophisticated investors now determining life expectancy predictions based upon their own data with help by internal or consulting actuaries and underwriters. A committee of life expectancy underwriters has been convened by LISA to continue to work on refining best practices and the mortality table. Panelists discuss whether this will give new funders confidence to enter the market, and other investors to return.
MODERATOR: DARWIN BAYSTON, Life Settlement Consulting & Management
PANELISTS: RICK BERGSTROM, Bergstrom Consulting; VINCE GRANIERI, 21st Services; ANNA HART, ARHart Consulting; KEVIN MALONE, Examination Management Services, Inc.; PATRICK YAN, Acheron Capital

New Accounting Standards to Value Settlement Portfolios
3:45 - 4:35 PM
Anyone who issues a securitized pool of settlements or any portfolio where investors issue public financial statements must follow mark-to-market accounting rules. This session explores whether Financial Accounting Standards Board or International Accounting Standards Board standards apply. So far, many in the market have sidestepped this issue because it accentuates errors of life expectancy underwriters and pricing at time of purchase, but this is expected to change.
MODERATOR: PETER MAZONAS, Life Settlement Financial;
PANELISTS: ROGER ANNIN, Lewis & Ellis; PAUL COOK, Grant Thornton; LORI OKUN, Ernst & Young

Litigation: What are the Legal Trends Affecting the Market?
4:40 - 5:30 PM
This panel examines the latest litigation issues in the market, including an insurable-interest case before New York's highest state court, fraud cases in which judges are allowing carriers to rescind policies but keep premiums and the first criminal complaint in Florida against a producer contemplating sales in the secondary market.
MODERATOR: ELLIOTT KROLL, Arent Fox
PANELISTS: RACHEL COAN, Katten Muchin Rosenman; DONALD HENDERSON, Dewey LeBoeuf; JIM MAXSON, Morris, Manning & Martin; STEVEN SKLAVER, Susman Godfrey

Competing Opportunities & Tradeoffs: Distressed Portfolios vs. Primary Origination
9:30 - 10:20 AM
Capital is currently seeking high yield opportunities and comparing the risk and return of Life Settlements to other investment opportunities. This panel examines the reason for the increase of distressed sellers in the market including underperforming pools, lack of liquidity and impaired collateral. Panelists also discuss the perceived yields for distressed assets, the risk/return of these portfolios, and the outlook until the distressed market clears.
MODERATOR: WM. SCOTT PAGE, The Lifeline Program
PANELISTS: ELLIOT BERTRAM, Madison Strategic Partners; ZOHAR ELHANANI, Legacy Benefits; JASON JACOBS, Lotus Life; STEVEN SHAPIRO, Q Capital Strategies; BORIS ZISER, Stroock & Stroock & Lavan

Keeper of the Keys: Trustees & Custodians
10:25 - 11:25 AM
What roles and responsibilities do these intermediaries have in holding and protecting bond and settlement assets? How do foreign regulations differ? Who are the major players? How much should investors rely on their services?
MODERATOR: ROBERT SYMONDS, Stevens & Lee
PANELISTS: JONATHAN S. BERCK, Jonathan S. Berck, LLC; BOB BOCKRATH, Willmington Trust; ROBERT EADDY, The Bryn Mawr Trust Company; LOU GEIBEL, Christiana Bank & Trust; MELISSA PHILIBERT, Wells Fargo

New Investors: Who are they and where are they coming from?
11:55 - 12:45 PM
As investment banks exit the market, what types of investors are replacing them? Private equity, pension funds, private banks, family offices, hedge funds, endowment funds and others are showing interest in this asset class. Is Asia the next hotspot? Is the market gravitating toward investors who buy-and-hold for the long term or will it become a trading market for short-term investors?
MODERATOR: PAUL MOE, Living Benefits Financial Group
PANELISTS: NEMO PERERA, Risk Capital Partners; STEPHEN STANTON, Trinity Life Settlements; BRIAN TIJAN, Deutsche Bank Securities; NICK WILLIAMS, Clifford Chance; KENNETH XU, Vida Capital

Examining The Asset & Minimizing Expenses After the Sale
1:45 - 2:10 PM
This presentation gives an in-depth overview of premium management and the factors that must be considered for this critical piece of the investment. Minimizing your out of pocket expense over the long-term requires in-depth understanding of the policy as well as long and short-term premium optimization.  This session gives a sampling of factors which must be considered as your servicer works with you to establish this critical piece of the investment.
SPEAKERS: PAMELA MAULE & SHERI TOWNSEND, Asset Servicing Group 

Is More Regulatory Oversight in Store for Servicers?
2:15 - 3:05 PM
As more service providers enter the market, some believe these firms should be licensed to protect against improper release of private medical and financial information. Others are hoping that rating agencies will assess the performance of service providers to guide market players.
MODERATOR: WARD BUKOFSKY, NorthStar Life Services
PANELISTS: BRIAN BARCLAY, Track-Life; RYAN DANZ, Torrey Pines; STEPHEN FERNSTROM, Litai Assets; MARK VENN, ClearLife

Status of Synthetics
3:10 - 3:35 PM
Some industry players have been marketing synthetic Life Settlement investments for a few years. But with the demise of the Qxx index and exit of investment banks, what is the future of this market segment? Is there enough paper volume to support it? What is investor appetite? How are established funds performing?
SPEAKER: JEFF MULHOLLAND, Insurance Capital Markets Holdings