Current Developments in Monetary and Financial Law, Vol. 5
Back Matter

Back Matter

Author(s):
International Monetary Fund
Published Date:
November 2008
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    Biographical Sketches
    Biographical Sketches

    Kern Alexander is Professor and Director of Research in International Financial Regulation at the Centre for Financial Analysis and Policy, the Judge Business School, University of Cambridge. He is also Senior Research Fellow in International Financial Regulation at the Institute of Advanced Legal Studies, University of London. From 2007 to 2009 he was a U.K. Economic and Social Research Council Senior Research Fellow in International Political Economy and Law, and has been a visiting professor of international economic law at the University of Zurich. He has given oral and written evidence to the House of Lords Select Committee on Economic Affairs and to the European Union Parliament’s Economic and Monetary Affairs Committee on European and international economic and financial regulation issues.

    Richard Barrett is Coordinator, Analytical Support and Sanctions Monitoring Team of the UN Security Council Committee for Al-Qaida and the Taliban. He is responsible for a team of experts that supports the Security Council with analysis of the threat from Al-Qaida and the Taliban and evaluates the implementation of the UN sanctions regime designed to limit their ability to mount attacks, including by making specific recommendations for improvements to the sanctions and suggesting possible new measures. He is a member of the UN Counter-Terrorism Implementation Task Force (CTITF), established to promote the implementation of the United Nations Global Counter-Terrorism Strategy, with a particular involvement in radicalization and extremism that lead to terrorism, terrorist use of the Internet, and terrorist financing. From 1975 to 2004 he served in the government of the United Kingdom, where he dealt with a variety of security issues, including the threat from international terrorism, and was posted to Amman, New York, Ankara, and Ottawa.

    James R. Barth is the Lowder Eminent Scholar in Finance at Auburn University and a Senior Finance Fellow at the Milken Institute. His research focuses on financial institutions and capital markets, both domestic and global, with special emphasis on regulatory issues. Most recently, he served as leader of an international team advising the People’s Bank of China on banking reform. He was an appointee of Presidents Ronald Reagan and

    George H.W. Bush as chief economist of the Office of Thrift Supervision until November 1989, and has served as the chief economist of the Federal Home Loan Bank Board. He has also been professor of economics at The George Washington University, associate director of the economics program at the National Science Foundation, and Shaw Foundation Professor of Banking and Finance at Nanyang Technological University. He has been a visiting scholar at the U.S. Congressional Budget Office, Federal Reserve Bank of Atlanta, Office of the Comptroller of the Currency, and the World Bank. He has authored more than 200 articles in professional journals and has written and edited several books, including The Great Savings and Loan Debacle and The Reform of Federal Deposit Insurance. His most recent books are Rethinking Bank Regulation: Till Angels Govern, with Gerard Caprio, Jr., and Ross Levine (Cambridge University Press, 2006) and Financial Restructuring and Reform in Post-WTO China, with Zhongfei Zhou, Douglas Arner, Berry Hsu, and Wei Wang (Kluwer Law International, 2007). He is the overseas associate editor of The Chinese Banker and serves on the editorial boards of the Journal of Financial Services Research, Review of Pacific Basin Financial Markets and Policies, Journal of Economics and Finance, and Financial Services Review.

    Christophe Bernasconi is First Secretary of the Hague Conference on Private International Law (HCCH). His primary responsibilities include the HCCH’s work relating to the Hague Securities Convention (Convention on the Law Applicable to Certain Rights in respect of Securities held with an Intermediary); the Hague Apostille Convention (Convention Abolishing the Requirement of Legalisation for Foreign Public Documents); the Hague Service Convention (Convention on the Service Abroad of Judicial and Extrajudicial Documents in Civil or Commercial Matters); and the Hague Evidence Convention (Convention on the Taking of Evidence Abroad in Civil or Commercial Matters). Dr. Bernasconi holds a law degree from Fribourg University in Switzerland, an LL.M. from McGill University in Montreal, and a doctoral degree from Fribourg University. He is a member of the International Bar Association Capital Markets Forum Subcommittee on Legal Certainty for Intermediated Securities. He was also a member of the Legal Subcommittee of the G30 that monitored the implementation of the G30 Recommendations of 2003 on Global Clearing and Settlement. He was co-rapporteur of the International Law Association’s Committee on Transnational Enforcement of Environmental Law. Dr. Bernasconi has published numerous private international law articles on a variety of topics in major law journals. He is a regular speaker at international conferences and seminars, and has taught at the Hague Academy of International Law.

    Zenón Alberto Biagosch graduated in management from the School of Economic Science of the University of Buenos Aires and is a certified fraud examiner of the Association of Certified Fraud Examiners (ACFE). He is currently Director of the Central Bank of the Argentine Republic and Vice-Superintendent of Financial and Exchange Entities. He has been director and vice-president of Banco de la Nación Argentina; president of Nación Seguros de Vida S.A. and Nación Seguros de Retiro S.A.; senior manager for regulation and compliance for the financial services industry at PricewaterhouseCoopers; commissioner for preventing money laundering at the Secretariat for the Struggle against Drug Trafficking; national government coordinator with the Financial Action Task Force of the Organization for Economic Co-operation and Development; and president of the Group of Experts for Controlling Money Laundering at the Organization of American States. He is member of the board of speakers of the Cambridge International Symposium on Economic Crime, which takes place every year at Jesus College of the University of Cambridge. He is also a member of the UN Counter-Terrorism Implementation Task Force and special guest of the International Monetary Fund and World Bank.

    Andrew Campbell is Director of the Centre for Business Law and Practice at the University of Leeds in the United Kingdom and a solicitor of the Supreme Court in England and Wales. He specializes in international banking law, with particular emphasis on bank insolvency, depositor protection, and banking regulation. He regularly acts as consulting counsel to the International Monetary Fund. He is co-author, with Peter Cartwright, of Banks in Crisis: the Legal Response (Ashgate, 2002) and a co-author of Butterworths Annotated Guide to the Financial Services and Markets Act (LexisNexis Butterworths, 2nd ed., 2005). He is also a co-editor, with Raymond LaBrosse, David Mayes, and Dalvinder Singh, of Deposit Insurance (Palgrave Macmillan, 2007). He is a member of the editorial boards of the Journal of Banking Regulation, the Journal of Money Laundering Control, the Journal of Financial Regulation and Compliance, and the Journal of Financial Crime.

    Gerard Caprio, Jr., is Professor of Economics at Williams College and Chair of the Center for Development Economics there. From 1998 until January 2006 he was director for policy in the World Bank’s Financial Sector Vice-Presidency. He served as head of the financial sector research team in the Bank’s Development Research Group from 1995 to 2003, and previously was a lead and principal financial economist there. Past positions include vice-president and head of global economics at JP Morgan, economist at the Federal Reserve Board and the IMF, and adjunct professor at The George Washington University. He has written extensively on financial sector policy, financial reform, and banking crises in developing countries, including over 50 articles and 9 books, the most recent of which is Rethinking Bank Regulation: Till Angels Govern (Cambridge, 2006), with James Barth and Ross Levine. He co-authored a World Bank policy research report, Finance for Growth: Policy Choices in a Volatile World with Patrick Honohan, and founded and served as editor of the bimonthly electronic newsletter, Interest Bearing Notes. He is also a co-editor of the Journal of Financial Stability. Professor Caprio earned his Ph.D. in economics at the University of Michigan and his A.B. degree in economics at Williams College.

    Ian Carrington has worked for nearly three decades on issues related to financial sector activity. He has been involved in loan origination in the banking sector, and has had extensive experience in the regulation of financial institutions. Mr. Carrington began his working career in the private banking sector in Barbados and later joined the Ministry of Finance and Planning as a budget analyst and the Barbados Development Bank as a project analyst. He joined the Central Bank of Barbados in 1983, and took up the position of deputy director of banking supervision in 1990; he was promoted to the position of director of banking supervision in 1997. In 2000, Mr. Carrington took up an appointment as a financial sector expert with the UN Global Program against Money Laundering in the UN’s Office of Drugs and Crime in Vienna. He joined the IMF as a senior financial sector expert in 2002 and currently works in the Financial Integrity Group of the Legal Department. He undertakes AML/CFT assessments and provides technical assistance to member countries of the IMF. Mr. Carrington holds a B.S. in public administration and an MBA in banking management.

    Martin Čihák is a senior economist at the International Monetary Fund. He joined the IMF in 2000, working mostly in the Monetary and Capital Markets Department, where he focused on financial sector and monetary policy issues. He has recently moved to the IMF’s European Department, covering EU policy issues, while continuing his financial sector work. Mr. Čihák is a senior editor of the Czech Journal of Economics and Finance, one of a few peer-reviewed journals in Central and Eastern Europe, and has held various leadership positions in the Czech Economic Association. Before joining the IMF, Mr. Čihák worked in Prague, Czech Republic, as a chief macroeconomic analyst at a major commercial bank, university lecturer, advisor to a minister of justice, and external advisor to the president. He has co-authored several textbooks and published in professional journals. He holds an M.A. in economics from the Charles University, Prague, and Ph.D.s in economics from CERGE, Prague, and the University of the State of New York. He also holds an M.A. in law from the Charles University. Mr. Čihák specializes in stress testing, financial soundness indicators, and other methods of assessing financial sector soundness.

    Ross Delston is an attorney and former U.S. banking regulator who specializes in anti-money laundering (AML) compliance for financial services firms. He heads GlobalAML.com, a Washington, D.C.-based consulting firm he founded. Since September 1997 he has been a legal consultant to the International Monetary Fund on AML and banking matters, and has participated in its AML assessments of seven offshore financial centers. In 2007 he was named to the AML subgroup of the Financial Services Roundtable’s Blue Ribbon Commission on Enhancing Competitiveness. From 2000 to 2005 he served as consulting counsel in the IMF Legal Department, where he drafted AML and banking laws for a number of countries, and chaired a working group to draft a model AML law for Commonwealth countries. Previously, Mr. Delston was a solo legal practitioner specializing in financial regulation; Of Counsel to Jones Day; assistant general counsel for assisted acquisitions at the Federal Deposit Insurance Corporation during the U.S. banking crisis; and counsel at the U.S. Export-Import Bank, where he specialized in trade finance. His recent publications include “Regulatory Blitz for Subprime Players?” American Banker (November 9, 2007); “Independent Audit for Anti-money Laundering: Essential Element or Nice to Have?,” (co-authored with Martin Owen), Money Laundering Bulletin, (June 2007); and “Memo to top executives: AML compliance affects you, too,” Money Laundering Alert (April 2007) (co-authored with Mr. Owen). Mr. Delston is also a member of the international editorial board of the Journal of Banking Regulation. Mr. Delston is a graduate of The George Washington University and its law school.

    Diego Devos is Deputy General Counsel of the Bank for International Settlements. In this capacity, he is supports the general counsel in the management of the legal service of the BIS and advises the various BIS Departments and services on public international and financial private law issues. Mr. Devos was previously deputy general counsel of Euroclear, where he was primarily responsible in the legal division for international/EU/Belgian regulatory issues and legal issues relating to harmonization of financial markets. Until April 2006 he was a member of the EU Legal Certainty Group, which was set up in early 2005 by the European Commission to address harmonization of substantive securities laws and legal barriers in the field of clearing and settlement. He was also a member of the drafting committee of the Hague Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary, adopted by the Hague Conference on Private International law in December 2002, and he served as a member of the drafting committee during the first session of the UNIDROIT Committee of Governmental Experts for the preparation of a draft convention on substantive rules regarding intermediated securities.

    Charles Enoch received his M.A. in economics from Cambridge University and his Ph.D. from Princeton. From 1976 to 1987 he worked in a succession of jobs at the Bank of England, including in the monetary, financial, and capital markets areas, and running the office of the deputy governor during the Latin America debt crises of the 1980s. From 1987 to 1990 he was Alternate Executive Director for the United Kingdom at the IMF. On his return to the Bank of England he became senior advisor in the European and Economics departments, and led the monetary side in the initial training visits of the Bank’s Center for Central Bank Studies to Central and Eastern Europe. With the establishment of the Monetary and Exchange Affairs Department in the IMF, he returned to the Fund as chief of the Review Division in early 1993, becoming head of the Banking Supervision and Regulation Division in 1998. During this period he headed missions on monetary and financial issues to a variety of countries, including leading the financial sector teams in the banking crises in Bulgaria, Indonesia, and elsewhere. In a number of these crises his work included extensive assistance in preparing banking, bank insolvency, and central bank laws. From 2000 to 2003 he worked as deputy director in the Statistics Department, also heading the Fund-Bank committee that coordinated the newly established standards and codes, and conducted outreach on the standards and codes across the membership. From 2003 to early 2007 he was deputy director in the Monetary and Financial Systems Department, responsible for the Fund’s technical assistance in the monetary and financial areas. Since early 2007 he has been Deputy Director in the IMF Statistics Department.

    Christian Johnson has taught courses on banking, finance, and tax at Loyola University Chicago School of Law for thirteen years. Professor Johnson has published four books and over three-dozen articles on these topics. He has lectured on finance and derivatives at the Inter-American Development Bank, the Federal Home Loan Bank System, the American Bar Association, Osgoode Law School (Toronto, Canada), the National University of Singapore, the Federal Reserve Bank of Chicago, the American Bar Association, and the Futures Industry Association. Prior to teaching, Professor Johnson was an associate at Milbank, Tweed, Hadley & McCloy in New York and Mayer, Brown in Chicago. Professor Johnson attended Columbia Law School and was the executive editor of the Columbia Law Review and a Harlan Fiske Stone Scholar. Prior to law school, he received his B.A. and Masters in accounting from the University of Utah and was a C.P.A. with Price Waterhouse. He is on the board of editors of the Journal of Payment Systems Law.

    Philip McBride Johnson has devoted nearly all of his 45 years in the practice of law to the U.S. laws, regulations, and agencies governing the markets in futures contracts, options, swaps, and other derivative instruments. His past positions have included chairman of the Commodity Futures Trading Commission (CFTC) and leader of exchange-traded derivatives law practice at Skadden, Arps, Slate, Meagher & Flom LLP. He is the author of Derivatives Regulation (formerly Commodities Regulation) (3 vol., Aspen Law & Business); Derivatives: A Manager’s Guide to the World’s Most Powerful Financial Instruments (McGraw-Hill); and over 190 other published works. He was a founder and first chairman of the derivatives law committees for both the American Bar Association and the International Bar Association. From 1989 to 2004 he was a member of the regulatory advisory committee of the New York Stock Exchange, and has been a member of five CFTC federal advisory committees.

    Roberta S. Karmel is the Centennial Professor of Law and Co-Director of the Dennis J. Block Center for the Study of International Business Law at Brooklyn Law School. She was a commissioner of the Securities and Exchange Commission from 1977 to 1980, a public director of the New York Stock Exchange from 1983 to 1989, and a member of the National Adjudicatory Council of the NASDR from 1998 to 2001. She was engaged in the private practice of law in New York City for over thirty years at Willkie Farr & Gallagher, Rogers & Wells, and Kelley Drye & Warren. Professor Karmel is a trustee of the Practising Law Institute and is co-chair of the International Coordinating Committee of the Section of Business Law of the American Bar Association. She is a member of the Advisory Committee on Capital Markets Law to UNIDROIT, a member of the American Law Institute, a fellow of the American Bar Foundation, and on the boards of advisors of Securities Regulation and Law Report, the Review of Securities and Commodities Regulation, and the World Securities Law Report. Professor Karmel is the author of over 50 articles in books and legal journals, and writes a regular column on securities regulation for the New York Law Journal. She is a frequent lecturer on financial regulation. She received a B.A. from Radcliffe College and an LL.B. from New York University School of Law. She was a Fulbright Scholar in 1991–92.

    Herbert Kronke is Secretary General of UNIDROIT (International Institute for the Unification of Private Law), Rome, and Professor for Private Law, Commercial Law and Private International Law, University of Heidelberg, Germany (on leave). He received his academic education in Germany, Scotland, and the United States. Following graduation and practical training, he took a Dr. iur. degree. After several years as fellow of the Max-Planck-Institute for Foreign and Private International Law in Hamburg, he took a Dr. iur. habil. degree. He has been a visiting scholar at McGill University, Montréal, a visiting professor at Georgetown University Law Center, Washington, D.C., and a visiting professor at the Universidade Federal do Rio Grande do Sul, Porto Alegre (Brazil). In 1999 he taught conflict of laws (in the area of capital market law) at the Hague Academy of International Law. In 2006 the Law Faculty of the Eötvös Loránd University, Budapest, conferred the degree of doctor et professor honoris causa upon him. Professor Kronke is the author of more than 100 books and articles in the fields of the law of contracts, commercial law, company law, conflict of laws, international civil procedure and arbitration, most recently Transnational Commercial Law—Text, Cases and Materials, with Roy Goode and Ewan McKendrick (Oxford, 2007). He is a member of the German Institution of Arbitration and the Swiss Arbitration Association, the London Court of International Arbitration (European User Group) and the panels of the Cairo Regional Centre for International Commercial Arbitration, where he serves in ad hoc, ICC, and other institutional arbitrations.

    Ross Leckow is Deputy General Counsel in the Legal Department of the International Monetary Fund. A national of Canada, Mr. Leckow has extensive experience in the legal aspects of Fund regulatory and financial operations, has contributed to the development of Fund policy in a number of areas, and has advised on a wide range of issues in the area of financial sector reform. Before joining the Fund in 1990, Mr. Leckow practiced law in the private and public sectors in Canada. He lectures frequently in the United States and abroad on issues of international financial law. His recent publications include “Law Reform and Financial Stability—the Growing Role of the International Monetary Fund,” in Reconciling Law, Justice and Politics in the International Arena (2004); “Bringing the Disenfranchised to the Table: the Lessons of Conditionality,” in The Measure of International Law: Effectiveness, Fairness and Validity (2004); “Conditionality in the International Monetary Fund,” in Current Developments in Monetary and Financial Law, vol. 3 (2005); and “The Reporting of Information under Article VIII, Section 5 of the IMF’s Articles of Agreement” in Current Developments in Monetary and Financial Law, vol. 4 (2005).

    Niall Lenihan is Assistant General Counsel at the European Central Bank (ECB). He is a graduate in law of Trinity College, Dublin, and holds a master of law from Sidney Sussex College, Cambridge. Mr. Lenihan is a licensed attorney in the New York State Supreme Court and the U.S. District Court for the Southern District of New York, a solicitor of the Supreme Court of England and Wales, and a solicitor of the High Court of Ireland. From 1991 to 1997 he was an associate with the New York law firm of Davis Polk & Wardwell, where he advised on securities offerings, corporate transactions, and litigation. In 1996 he established the Wall Street Committee on European Economic and Monetary Union (EMU), the first U.S. working group to consider the legal implications of EMU for swap, derivative, and eurobond transactions governed by New York law. In 1998 the European Commission published his study on the legal implications of EMU under U.S. and New York law. In 1998 he joined the legal division of the European Monetary Institute, and thereafter the legal services of the ECB, where he has advised on a range of financial and monetary legal matters. In 2002 he represented the ECB in the G10 Working Group on Collective Action Clauses in sovereign debt instruments. In 2004 he was appointed Assistant General Counsel of ECB Legal Services.

    Ross Levine is the James and Merryl Tisch Professor of Economics at Brown University and Director of the William R. Rhodes Center in International Economics. He is a research associate at the National Bureau of Economic Research, editor of the Journal of Financial Intermediation, and associate editor of the Journal of Economic Growth. Mr. Levine received his Ph.D. in economics from UCLA in 1987. After working at the Board of Governors of the Federal Reserve System, he moved to the World Bank, where he managed research and operational programs. In 1997 Dr. Levine joined the University of Virginia, before moving to the University of Minnesota in 1999, and then to Brown University in 2005. Professor Levine’s work focuses on the linkages between financial sector policies, the operation of financial systems, and economic development. His new book, Rethinking Bank Regulation: Till Angels Govern, challenges current approaches to the regulation of banks.

    Patricia A. McCoy is the George and Helen England Professor of Law at the University of Connecticut. She received her B.A. from Oberlin College and her J.D. from the University of California at Berkeley (Boalt Hall), where she was editor-in-chief of the Industrial Relations Law Journal. After graduation she clerked for Judge Robert Smith Vance on the United States Court of Appeals for the Eleventh Circuit. Later, she was a partner at Mayer, Brown, Rowe & Maw in Washington, D.C., specializing in complex securities, banking, and constitutional litigation. Professor McCoy’s current research examines market failures in the financial services industry. She has written two books: Banking Law Manual: Federal Regulation of Financial Holding Companies, Banks and Thrifts and Financial Modernization After Gramm-Leach-Bliley. Professor McCoy was a visiting scholar at the MIT Economics Department from 2002 to 2003, and a member of the Federal Reserve’s Consumer Advisory Council from 2002 through 2004.

    Troy Paredes joined the faculty at Washington University School of Law in 2001, after practicing law as a corporate and securities lawyer in San Francisco and Los Angeles. He holds a bachelor’s degree in economics from the University of California at Berkeley and received his J.D. from Yale Law School. His research interests include corporate governance, with a focus on how authority is allocated among directors, officers, and shareholders; securities regulation, including the impact of various cognitive biases and decision strategies on investing behavior; the psychology of managerial decision making; the development of corporate and securities law systems in developing economies; hedge funds; executive compensation; and intellectual property transactions. In addition to his other research and writing, he is a co-author (beginning with the 4th edition) of Fundamentals of Securities Regulation, with Louis Loss and Joel Seligman.

    Sandra M. Rocks is counsel to Cleary Gottlieb Steen & Hamilton LLP, resident in the New York office. Her practice focuses on commercial financing, including specialties in secured transactions and bankruptcy law. Ms. Rocks is currently the American Bar Association (ABA) liaison-advisor to the Permanent Editorial Board of the Uniform Commercial Code. She has chaired the International Commercial Law and Investment Property Subcommittees of the Uniform Commercial Code (UCC) Committee of the Business Law Section of the ABA. Ms. Rocks chaired the UCC Committee’s Task Force on Proposed Treasury Regulations Governing Book-Entry Securities, which studied and provided comments to the Department of the Treasury on regulations governing book-entry Treasury securities. She served as a member of the SEC’s Market Transactions Advisory Committee, established to advise ways in which to reduce risk in the efficient clearance and settlement of market transactions. Ms. Rocks participated on behalf of EMTA (formerly the Emerging Markets Traders Association) in drafting sessions at The Hague Conference on Private International Law culminating in the Convention on the Law Applicable to Certain Rights in Respect of Securities Held with Intermediaries. Ms. Rocks currently participates on behalf of EMTA in the UNIDROIT project to create a convention on harmonized substantive rules regarding indirectly held securities, having previously acted as a co-coordinator for the private financial sector for UNIDROIT’s study group on this project. Ms. Rocks, together with Carl Bjerre, is the author of The ABC’s of the UCC, Article 8: Investment Securities, 2nd Edition, and has authored and co-authored various articles on UCC and securitization matters. She is a frequent speaker on Articles 8 and 9 of the UCC and related international initiatives.

    Garry J. Schinasi is an advisor in the Monetary and Capital Markets Department of the International Monetary Fund. He received his Ph.D. in economics from Columbia University in 1979, and for the next decade held various staff positions at the Board of Governors of the U.S. Federal Reserve System. In 1990 he joined the IMF, where he has focused on global finance and financial stability issues. For most of this time he co-managed the IMF’s surveillance of international capital markets, including co-authoring and co-editing the IMF’s flagship publication International Capital Markets: Developments, Prospects, and Key Policy Issues (1994–2001), which was succeeded by the Global Financial Stability Report. Mr. Schinasi then spent two years as an advisor in the IMF’s Finance Department, where he managed the development of the department’s framework for assessing financial risk in the Fund, with an emphasis on sovereign credit risk. Mr. Schinasi is presently on leave from the IMF and engages in independent research on global financial stability issues, including as a consultant with not-for-profit research organizations. Mr. Schinasi has published articles in The Review of Economic Studies, Journal of Economic Theory, Journal of International Money and Finance, and other academic and policy journals. His book Safeguarding Financial Stability: Theory and Practice was published by the IMF in January 2006.

    Heba Shams is a financial sector specialist at the World Bank. Prior to joining the Financial Integrity Group at the Bank in 2004, she taught international economic law and development finance law at the Centre for Commercial Law Studies, Queen Mary College, London. She has written on issues of international investment law, corruption, and money laundering. Her publications include Legal Globalization: Money Laundering Law and Other Cases (BIICL, 2004). She holds a license en droit from Cairo University, a master’s degree in law from Cairo University, an LLM from King’s College, London, and a Ph.D. from Queen Mary College, London.

    Francisco José de Siqueira graduated in law from the Federal University of Pernambuco, in Brazil, and received a master of laws degree from the same university. Mr. Siqueira also graduated in business administration and in public administration from the Federal University of Pernambuco. He was professor of commercial law at the Catholic University of Salvador, the Catholic University of Brasília, and Brasilia’s Institute of Superior Education; professor of business law of post-graduate studies at the Interamerican Center of Development, and at the Catholic University of Brasilia. Mr. Siqueira has been an attorney of the Central Bank of Brazil since 1976, where he has held the position of regional-attorney, especial consultant, and deputy general counsel. Since 2003 he has been General Counsel of the Legal Department of the Central Bank of Brazil. Since 2001 he has been a member of the Court of Fondo Financeiro para el Desarollo de la Cuenca del Plata (FONPLATA), over which he presided from 2003 to 2004. Mr. Siqueira has published several articles, including “Responsibility of Directors of Financial Institutions,” Journal of Mercantile, Industrial, Economic and Financial Law; “Intervention in the National Financial System: 25 Years of the Law 6.024/74,” in The Role of Central Bank in Intervention Process (Textonovo, 1999); “Financial Institutions: Special arrangements in Brazilian Law,” Journal of Banking, Capital Markets and Arbitration Law; and “The Industry and Microfinance of Microcredit in Brazil,” prepared for the X Meeting of Lusophone’s Banking Jurists (Bank of Portugal Edition, 2004).

    Robert Steigerwald serves as Senior Financial Markets Advisor to the Financial Markets Group at the Federal Reserve Bank of Chicago. The Financial Markets Group includes research economists, legal and regulatory experts, experienced business practitioners, and central bank policymakers who study public policy issues relating to financial markets and large-value payment systems, with a particular emphasis on Chicago’s financial market institutions. He began his legal career with Kirkland & Ellis, an international law firm based in Chicago, and later served as chief legal officer of Multinet International Bank, a clearinghouse for foreign currency transactions. In that capacity, he managed the bank’s legal and regulatory affairs and contributed to the development of the clearinghouse’s risk design. He also served as principal U.S. counsel in connection with the development of a multicurrency payment-versus-payment system known as “continuous linked settlement.” Before taking his law degree, he worked on the precious metals and foreign currency trading desk of Shearson-American Express in New York. Mr. Steigerwald joined the Federal Reserve Bank of Chicago in February 2000 and has organized a number of public policy-oriented events, including “Five Years of the Euro: Successes and New Challenges,” cosponsored by the George J. Stigler Center for the Study of the Economy and the State, University of Chicago, and most recently “Intellectual Property and Competition Issues Relating to Financial Markets,” cosponsored by the Kellogg School of Management, Northwestern University. He was a lecturer in the graduate program in financial services law at Chicago-Kent College of Law from 1993 to 2000, and in 2005 was a visiting scholar at the Institute for Monetary and Economic Studies (IMES) at the Bank of Japan. His research interests include financial market clearing and settlement systems, risk and liquidity management and regulatory policy. Mr. Steigerwald received his undergraduate degree from the State University of New York at Stony Brook in and was graduated from the University of San Francisco School of Law, where he was a McAuliffe scholar and the recipient of American Jurisprudence awards in civil procedure and property.

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