September 10, 2009
Queens, NY—On Friday, September 4, 2009, scholars from all over
the globe, including Turkey, the UK, Brazil, Switzerland, and
Canada, as well as faculty and administrators of the Tobin
community, gathered at the downtown Manhattan campus to listen as
financial professionals presented their papers on various topics
concerning today’s global economic climate. The conference was
introduced by Dean Steven Papamarcos followed by an opening prayer
by Father Patrick Flanagan.
Topics of the conference included: Consequences of Financial
Regulation; Asset Valuation and Risk; Country Studies: Turkey;
Impacts of the financial Crisis; Equity Financing, Risk and
Leverage; New Approaches; Banking Governance and Performance; and
International Dimension of Accounting and Taxation.
The
keynote speaker of the conference was Brian T. Shea, President and
Chief Operating Officer, Pershing LLC, who spoke on the topic of
Financial Services Regulatory Reform: A Practitioner’s Perspective.
In summary, Shea’s presentation concluded that the future of
financial regulation will face many changes. He explained the
complex structure of financial regulation at present and how
changes in it will require great care and time. Shea went on to
stress that "whatever the final structure, making our future
regulatory framework more investor or consumer-centric should be a
fundamental goal."
The recent market and economic disruption, as well as the
well-publicized scandals have shaken the public's trust in the
financial markets. Shea stated that "this challenge requires
business, regulatory and government leaders to work together
to find thoughtful, balanced solutions that protect the integrity
of the global financial markets and protect investors
effectively, without unduly increasing cost to the private sector
or consumers and hindering the long-term competitiveness and
growth of the financial sector, or the growth of the broader
economy."
Brian Shea is President and Chief Operating Officer of Pershing
LLC, where he shares overall management responsibility with the
Chairman and Chief Executive Officer for all Pershing affiliates on
a global basis, including Pershing LLC; Pershing Advisor Solutions
LLC; Lockwood Capital Management, Inc.; Lockwood Advisors, Inc.;
Pershing Securities Limited (United Kingdom); Pershing Securities
International Limited (Ireland); iNautix Technologies India Private
Limited; and iNautix (USA) LLC. Mr. Shea is Co-Chair of Pershing’s
Executive Committee and is a member of the Operating Committee of
The Bank of New York Mellon.
He has served on the Board of Governors of the National
Association of Securities Dealers (NASD), which is now the
Financial Industry Regulatory Authority, Inc. (FINRA); as Chairman
of the National Adjudicatory Council (NAC) of the NASD; and as
Chairman of the NASD Membership Committee. Mr. Shea has also served
on the NASD Variable Annuity Utility Task Force, the NASD Mutual
Fund Breakpoint Task Force, the NASD Mutual Fund Omnibus Processing
Task Force, the NASD Member Admission Review Committee and the NASD
District 10 (New York) Committee. Mr. Shea is currently a member of
the Securities Industry and Financial Markets Association’s
(SIFMA), formerly known as the Securities Industry Association
(SIA) New York District Committee. He previously served as Chairman
of the SIA Membership Committee and is a two-time recipient of the
chairman’s award for distinguished service to the SIA.
The Financial Services Institute of the Tobin College was founded
in 1995 to provide an educational and research facility dedicated
to the advancement of knowledge in the global financial services
industry. It is currently being directed by Dr. Igor Tomic,
Associate Professor, Economics and Finance at the Tobin College.
The Board of Directors includes: Dr. Steven Papamarcos, Dean, Tobin
College of Business; Dr. Thomas Liaw, Professor, Economics &
Finance; Dr. Vipul Bansal, Chairman, Economics & Finance; Dr.
Igor Tomic, and Professor Donald Pitti, FSI Founding Director.
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The Peter J. Tobin College of Business has provided the highest
quality business education for over eighty years. Many alumni
have risen to senior executive positions in the financial services
community in New York and around the world. Degrees offered
include the Bachelor of Science, Master of Business Administration
and Master of Science. The College encompasses the School of
Risk Management, Insurance and Actuarial Science, which is housed
at the University’s Manhattan location in the heart of the New York
financial district. For further information, please contact
Jennifer Maizel at (718) 990-6218 or email Maizelj@stjohns.edu.