ICS Forum – 26 May

The 2023 Forum of International Investor Compensation Schemes

Friday, May 26, 2023
2:00 PM to 6:00 PM (Budapest time)
Budapest Ballroom, Budapest Marriott Hotel

14:00 – 14:05

Welcome and Opening Remarks

Stefan Tacke – EFDI
Toni Ferrari – CIPF, Canada

14:05 – 14:40

Virtual presentation:

  • Overview of crypto assets.
  • Lessons learned as a trustee, from the bankruptcy of QuadrigaCX, a Canadian cryptocurrency exchange that collapsed in 2019.
  • Insights from other crypto bankruptcy cases, including FTX.

Sharon Hamilton – Ernst & Young, Canada

14:40-15:00

Virtual presentation:

  • Overview of the ‘Markets in Cryptoassets’ Regulation in the EU.
  • Key highlights of the recent consultation report from IOSCO’s Fintech Task Force.

Cameron Carr – IOSCO

15:00 – 16:10

Panel discussion focused on crypto assets, including the following topics:

  • How crypto assets are defined in the jurisdictions of the panelists.
  • Existing regulatory frameworks and proposed regulatory initiatives.
  • Key considerations and concerns when assessing appropriateness of coverage for crypto assets. Examples include custody, control and access and pricing.
  • Advertising and marketing in the crypto assets area, including via social media.

Facilitated by Ilana Singer – CIPF, Canada
Panelists: Josephine Wang – SIPC, U.S. • Jonathan Pallant – FSCS, U.K. • Yoshio Okubo – JIPF, Japan

16:10 – 16:25

Coffee Break

16:25 – 17:55

Roundtable Panel Discussion, including:

  • Participating ICSs to designate one individual to share up to 5 minutes of recent and noteworthy developments in their jurisdictions.
  • There will also be separate updates regarding the following:
    • Insolvency during the pandemic – Experiences and lessons learned – presented by Ignacio Santillán, FOGAIN, Spain.
    • Overview of recent developments in the jurisdictions of the EU.

Facilitated by Diyana Miteva – ICF, Bulgaria
Participating ICSs:
1. CIPF, Canada
2. FSCS, U.K.
3. FOGAIN, Spain
4. Indonesia SIPF
5. ICF, Bulgaria
6. IPF, Hungary
7. JIPF, Japan
8. SIPC, U.S.

17:55 – 18:00

Wrap-up and Closing Remarks

Ignacio Santillán – FOGAIN, Spain