How Financial Compliance is Transforming the Diamond Industry, brought to you by De Beers

June 7, 2017 | 5:30 PM - 8:00 PM

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How Financial Compliance is Transforming the Diamond Industry, brought to you by De Beers

Wednesday, June 7
5:30 pm – 8:00 pm

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Location

CFANY Conference Center
1540 Broadway #1010,
New York, NY 10036

 

Registration Deadline

Tuesday, June 6

Fees

Members: $25
Nonmembers: $65

Sponsor

Speakers

Paul Rowley, Executive Vice President, De Beers Group Sightholder Sales
Bernard Bradley, Executive Vice Presient, De Beers Group Sightholder Sales
Feriel Zerouki, Head of Government Relations, De Beers
Howard Davies, Vice President, Commercial Development, De Beers UK

Moderator
Tony Carroll, Director, Acorus Capital

Program Overview

From the master craftsmen in the time-honoured workshops of New York to the high-tech new factories of the east, a $20bn global industry exists to transform natural rough diamonds, the hardest substance known to man, into exquisite polished gemstones.

As an industry that has traditionally been synonymous with myth, magic and mystique, the midstream diamond business has seldom sought the limelight. However, over the past few years, a quiet revolution has taken place in the way in which the leaders of this sector have transformed their businesses from traditional and often secretive family partnerships into large modern corporations, with a firm foundation of world-class corporate and financial transparency.

As a result of this transformation, the most progressive businesses in the diamond industry’s midstream, and their working capital assets, have become increasingly investible. This is not only true for the international network of banks that already provide short-term working capital funding to the industry but, increasingly, also for non-bank investors.

Over the past 18 months, state wealth funds, major pension funds and international asset managers have moved towards taking long-term exposure to working capital assets in the diamond industry’s midstream, packaged as investment-grade commercial paper. Several such vehicles have already launched, and more are in the pipeline. Leading midstream companies are now also beginning to approach the bond markets for termed finance, as part of their structured portfolio of debt.

At this briefing, De Beers, the world’s leading diamond miner, and a business with expertise across the entire diamond value chain, will give a unique insight into the forces that are shaping the modern diamond industry, including the once-in-a-lifetime prospects for demand growth that are now emerging in China and India. The briefing’s focus with be squarely on the extraordinary businesses that operate in the industry’s midstream, and the financial and ethical compliance programmes that have now opened the door for them to a much wider world of financial opportunity. The picture that emerges is of a dynamic and modern industry on the cusp on a sparkling future, which it is facing with renewed confidence.

 

Agenda

5:30-6:00: Check-In

6:00-6:05: Opening Remark

Patrick Holert, CFA, CAIA

6:05-7:35: Panel

Paul Rowley — Introduction: The Diamond Industry Today
Bernard Bradley — The Diamond Midstream
Feriel Zerouki — Managing Compliance in the Diamond Industry
Howard Davies — Transforming the Diamond Industry’s Finances

Moderator

Tony Carroll, Director, Acorus Capital

7:35-7:40: Closing Remark

Harumi Urata-Thompson, CFA

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The CFA Society New York, Inc. (“CFANY”) is not a Registered Investment Advisor, Broker/Dealer, Financial Analyst, Financial Bank, Securities Broker, or Financial Planner. While CFANY seeks to present accurate and reliable information, CFANY does not endorse, approve, or certify such information, nor does it warrant or guarantee the accuracy, completeness, efficacy, timeliness, or fitness of such information for any particular purpose. Information presented may or may not be current as of the date of the presentation, and CFANY has no duty to update and maintain the information, reports, or statements made during events.

The information presented is provided for information purposes only, and is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice, is general in nature, and is not specific to you. None of the information presented is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any security, company, or fund. CFANY is not responsible for any investment decision made by you.

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Sponsorship Overview

For over 80 years, CFA Society New York—formerly known as New York Society of Security Analysts (NYSSA)—has been a leading forum for the exchange of information among investment professionals. Our mission is to raise standards of practice in the industry for the ultimate benefit of society. Towards that goal, CFA Society New York content is curated by volunteer practitioner interest groups that strive to shape the future of the industry. A bold line exists between the financial support by organizations to maintain the quality of our programming and the selection of speakers who contribute to dialogue in our community. To that end, a ceaseless commitment to transparency is something we consider foundational to our cause.

Please be advised of the following information related to Society sponsorship and support:

Through financial support and other means of in-kind support, each event sponsor, event partner, event co-host and organizational partner of CFA Society New York plays a valuable role in the furtherance of the range of forward-thinking initiatives that underpin the Society’s values, and toward our mission to deliver Society content and programming of the highest quality and standard.

CFA Society New York thanks all of its sponsors, event-related affiliates and organizational partners for helping us continue to shape the conversation of the investment community.

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CFA Society New York (including its employees and agents) assumes no responsibility for presenters or consequences resulting from the use of information or content of such information presented, including (but not limited to) errors or omissions, the accuracy or reasonableness of factual or scientific assumptions, studies or conclusions, the defamatory nature of statements, ownership of copyright or other intellectual property rights, and the violation of property, privacy, or personal rights of others. The CFA Society New York is not responsible for, and expressly disclaims all liability for, damages of any kind arising out of use, reference to, or reliance on such information. No guarantees or warranties, including (but not limited to) any express or implied warranties of merchantability or fitness for a particular use or purpose, are made by CFA Society New York with respect to such information. CFA Society New York does not endorse, approve, or certify such information, nor does it guarantee the accuracy, completeness, efficacy, timeliness, or correct sequencing of such information. All presentations represent the opinions of the presenters and do not represent the position or the opinion of CFA Society New York or its members. Reference by the presenters to any specific commercial product, process or service by trade name, trademark, service mark, manufacturer, and corporation or otherwise does not constitute or imply endorsement, recommendation, or favoring by CFA Society New York.

CFA Society New York strives to be a community for diverse opinions and differing perspectives, and the views and opinions expressed by speakers, presenters and/or organizers at events do not necessarily state or reflect those of CFA Society New York.

CFA Society New York expects all attendees to comply with CFA Society New York’s Code of Conduct while attending CFA Society New York events or meetings. CFA Society New York expressly reserves the right, in its sole discretion, to grant or deny access to any individual, or to expel any individual from any CFA Society New York event or meeting.

Inclement weather

CFANY reserves the right to cancel or reschedule all in-person events within 48 hours when inclement weather has been forecasted and travel is restricted by city officials.  The program may also be produced solely via livestream in such circumstances.  Please note the cancellation policy regarding refunds and substitutions.

Refunds, Cancellations, and Substitutions

  • 72 HOURS ADVANCED NOTICE OR MORE:
    • Full refund issued
  • WITHIN 48 HOURS OR AFTER EVENT HAS STARTED:
    • No refund

All requests for cancellation or refunds must be sent to cfanyevents@cfany.org.

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CFA Society New York, Inc. (“CFA NY”) is not a Registered Investment Advisor, Broker/Dealer, Financial Analyst, Financial Bank, Securities Broker, or Financial Planner. While CFA NY seeks to present accurate and reliable information, CFA Society New York does not endorse, approve, or certify such information, nor does it warrant or guarantee the accuracy, completeness, efficacy, timeliness, or fitness of such information for any particular purpose. Information presented may or may not be current as of the date of the presentation, and CFA Society New York has no duty to update and maintain the information, reports, or statements made during events.

The information presented is provided for information purposes only, and is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice, is general in nature, and is not specific to you.

None of the information presented is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any security, company, or fund.