Symposium on Building the Financial System of the 21st Century:

An Agenda for Japan and the United States

Airlie Center  •  Warrenton, Virginia  •  September 20-22, 2002

 

Draft as of September 18, 2002

 

 

Friday, September 20, 2002

 

6:15–7:00          Cocktail Reception in Airlie Room

 

7:00                  Dinner in Airlie Room

                        Greetings

Hiroshi Ota, Counselor, The Japan Forum on International Relations, Inc.

Hal Scott, Nomura Professor & Director, Program on International Financial Systems, Harvard Law School

Robin Radin, Associate Director, Program on International Financial Systems, Harvard Law School

 

                        Keynote Addresses

Kenneth Dam, Deputy Secretary, United States Treasury

Hakuo Yanagisawa, Minister for Financial Services

 

Saturday, September 21, 2002

 

7:00-8:30           Breakfast in Airlie Room

7:00-8:30           Breakfast Meeting of Facilitators and Reporters in Garden Room

 

8:30-8:40           Welcome & Opening Remarks in Federal Room

Hiroshi Ota, Counselor, The Japan Forum on International Relations, Inc.

Hal Scott, Director, Program on International Financial Systems, Harvard Law School

 

8:40-9:00           Session 1: Accounting Reforms and Auditor Independence in Federal Room

                        Japanese Panelist:   Yasuhisa Shiozaki, Member of the House of Representatives

                        U.S. Panelist:          Michael D. Mann, Richard Spears Kibbe & Orbe

                        U.S. Panelist:          Georges Ugeux, Group Executive Vice President, International, New York Stock Exchange               

 

9:00-10:25         Small Group Sessions

                        Group  Room                     Facilitators                                                Reporter

                        1          Jefferson Room       Hiroyuki Kamano & Jonathan Colby Hal Scott

                        2          Audobon                 Hideki Kanda & Richard Medley           Robin Radin

                        3          East Room              Akira Ariyoshi & Wilbur Ross                William Grimes

                        4          Garden Room          Akihiro Wani & Jeffrey Young              Hugh Patrick

                        5          Meadow Room       Shuji Yanase & David Asher                 Jacob Weinstein

                       

10:25-10:40 Refreshment Break

 

10:40-11:10 Session 2: Information Flow to Capital Markets in Federal Room       

                  U.S. Panelist:          Douglas Shulman, President, Regulatory Services & Operations, NASD

                        Japanese Panelist:   Mineko Sasaki-Smith, Chief Strategist, PricewaterhouseCoopers Consulting

                        Japanese Panelist:   Mitsuhiro Fukao, Professor, Faculty of Business & Commerce, Keio University

 

11:10-12:30 Small Group Sessions

                        Group  Room                     Facilitators                                                Reporter

                        1          Meadow Room       Takayoshi Hatayama & Robert Fallon    Hal Scott

                        2          Jefferson Room       Akinari Horii & Clifford Shaw                Robin Radin

                        3          Audobon                 Yukinori Ito & Mark Norbom                 William Grimes

                        4          East Room              Hiroshi Ota & William Seidman              Hugh Patrick

                        5          Garden Room          Mineko Sasaki-Smith & David Hale      Jacob Weinstein

 

12:30-1:30         Lunch in Airlie Room

                        Keynote Address

                        R. Glenn Hubbard, Chairman, Council of Economic Advisers

                       

1:30-2:30           Session 3: Regulatory Reform in Japan in Federal Room

                        Japanese Panelist:   Yasuo Kanzaki, Special Advisor, Nikko Salomon Smith Barney

                        Japanese Panelist:   Reese Harasawa, Director, Credit & Investment Policy, The Bank of Tokyo-Mitsubishi

                        U.S. Panelist:          Robert Dugger, Managing Director, Tudor Investment Corporation

                        U.S. Panelist:          Arthur M. Mitchell III, Partner, Coudert Brothers

                       

2:30-6:15           Free time

 

2:30-5:00           Reporters (from Small Group Sessions) meeting in Jefferson Room

 

6:15-7:00           Cocktail Reception in Airlie Room

 

7:00                  Dinner in Airlie Room

                        Keynote Address

Roger W. Ferguson, Jr., Vice Chairman, Board of Governors of the Federal Reserve System

Haruhiko Kuroda, Vice Minister of Finance for International Affairs, Ministry of Finance

 

Sunday, September 22, 2002

 

7:00-8:00           Breakfast in Airlie Room

7:00-8:00           Breakfast Meeting of Discussion Chairmen and Steering Committee in Garden Room

 

8:00-9:45           Presentation & Discussion in Federal Room

                        Japanese Regulatory Reform

                        Japanese Chairman:       Takatoshi Ito, Professor, The University of Tokyo

                        U.S. Chairman:             Thierry Portι, President, Morgan Stanley Japan Limited

                        Reporter:                      Hugh T. Patrick      , Director, Center on Japanese Economy & Business, Columbia Business School

 

9:45-10:00         Refreshment Break

 

10:00-11:45 Presentation & Discussion in Federal Room

Accounting Reforms, Auditor Independence and Information Flow

                Japanese Chairman:       Yasuhiro Maehara, General Manager in the Americas, Bank of Japan

                        U.S. Chairman:             Richard A. Fuchs, Partner, Global Capital Markets Group, Asia Pacific Theatre Leader, PricewaterhouseCoopers LLP

Reporter:                      Hal Scott

 

11:45-1:30         Closing Lunch in Airlie Room