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Hal S. Scott is the Nomura Professor and Director of the Program on International Financial Systems (PIFS) at Harvard Law School, where he has taught since 1975. He teaches courses on Capital Markets Regulation, International Finance, and Securities Regulation.
He has a B.A. from Princeton University (Woodrow Wilson School, 1965), an M.A. from Stanford University in Political Science (1967), and a J.D. from the University of Chicago Law School (1972). In 1974-1975, before joining Harvard, he clerked for Justice Byron White.
The Program on International Financial Systems, founded in 1986, engages in a variety of research projects. Its book, Capital Adequacy Beyond Basel (Oxford University Press 2004), examines capital adequacy rules for banks, insurance companies and securities firms. The Program also organizes the annual invitation-only U.S.-Japan, U.S.-Europe, and U.S.-China Symposia on Building the Financial System of the 21st Century, attended by financial system leaders in the concerned countries. In addition, the Program directs a concentration in International Finance for LLM students at Harvard Law School.
Professor Scott’s books include the law school textbook International Finance: Transactions, Policy and Regulation (18th ed. Foundation Press 2011); and The Global Financial Crisis (Foundation Press 2009).
Professor Scott is the Director of the Committee on Capital Markets Regulation, which in May 2009 released a comprehensive report entitled The Global Financial Crisis: A Plan for Regulatory Reform. He is also Co-Chair of the Council on Global Financial Regulation that was formed in 2010. He is an independent director of Lazard, Ltd., a past President of the International Academy of Consumer and Commercial Law and a past Governor of the American Stock Exchange (2002-2005). He is also a member of the Senior Advisory Board of Oliver Wyman.
James Apostol has been the Deputy Director of the Program on International Financial Systems (PIFS) since November of 2011.
As the chief administrative officer of PIFS, James oversees daily operations, new business development, and the administration of the program's series of Symposia on Building the Financial System of the Twenty-first Century.
He holds degrees in literature from Boston University (BA 2003) and environmental management and sustainability from Harvard University (ALM 2011). Before joining PIFS in 2007 as a program associate, James held various management positions at Reed Business Information and Countrywide Home Loans.
Travel, basketball, and yoga occupy his time away from the office.
Donald P. Kanak is non-executive Chairman of Prudential Corporation Asia, Asia regional headquarters, and part of Prudential Group (United Kingdom), and non-executive Chairman of Eastspring Investments, Prudential's Asia investment organization. He is also the 2011-12 Chairman of the World Economic Forum's Global Agenda Council on Insurance and Asset management. Don's research as a Senior Fellow at the Harvard Law School Program on International Financial Systems is focused on climate change policy, especially solutions for reducing deforestation and degradation of natural forests (REDD) and financial frameworks for achieving climate objectives.
Mr. Kanak has a BA in Economics with highest honors from the University of North Carolina at Chapel Hill (1975), a JD with honors from Harvard Law School (1980), and a Master of Letters degree in Management Studies from Oxford University (1989). He has been admitted to practice law in Massachusetts and New York. After completing his graduate studies, Mr. Kanak began his career in management consulting, where he became a partner focusing on financial services. He moved to Japan in 1986 and has resided in Asia for most of the past 25 years working in senior roles in the insurance industry. Early in his career, Mr. Kanak worked at the U.S. Environmental Protection Agency, and served as the Washington representative for a river conservation organization.
During the past decade, Mr. Kanak has held a number of outside leadership positions. He served as a director of the U.S.-China Business Council and the U.S.-Japan Business Council and as a member of the Executive Committee of the U.S.-Korea Business Council. He served as President of the American Chamber of Commerce in Japan in 2002 and as its Chairman in 2003. He is a member of the Council on Foreign Relations, the Asia Society, the America-Japan Society, the Society of Financial Services Professionals. He is the past Chairman of the World Wildlife Fund (WWF) global Forest Climate Initiative, which aims to reduce deforestation as an essential part of a solution to climate change. He serves as a Trustee of WWF-Hong Kong and a member of the National Council of WWF-U.S.
James joined PIFS as a resident visiting fellow in March, 2013 and in June 2013 became a non-resident fellow. He is member of the Hong Kong Securities and Futures Commission (SFC) and a member of its board. He is also the Executive Director with responsibility for the integrated Intermediaries Supervision and Licensing Division. Prior to joining the SFC he was a managing director in Goldman Sachs' executive office and head of Government & Regulatory Affairs for Asia Pacific, a role he assumed in 2009. Previously, James was head of the hedge fund consultancy team within Goldman's Asian prime brokerage business.
Prior to joining Goldman Sachs, James ran the hedge fund consultancy business of Eurekahedge in Singapore and was a cofounder of Compliance Asia, Asia's first independent regulatory consulting firm. Prior to that, James was head of Asian ECM transaction management for Dresdner Kleinwort Wasserstein (now Commerzbank) and a vice president in its European ECM team. James has lived in Asia for 20 years, having previously practiced funds and securities law with Linklaters in Hong Kong and Thailand.
James was previously on the executive committee for a number of industry bodies in Asia including the Asian Securities Industry and Financial Markets Association (ASIFMA), the Hong Kong Treasury Markets Association, the Hong Kong & China Chapter of the Alternative Investment Management Association (AIMA), the Hong Kong Securities and Investment Institute and the business advisory board to the United Nations Economics and Social Commission for Asia Pacific.
James earned a BA in Asian politics, history and economics from Melbourne University and a LLB (Hons.) from Monash University with component studies in Asian law at Hong Kong University.
Dr. Tarbert joined PIFS as a non-resident fellow in February 2014, and is based in Washington, DC; New York; and London. He is a partner at the international law firm of Allen & Overy LLP, where he heads the firm’s U.S. bank regulatory group. Dr. Tarbert is recognized for his work involving capital and liquidity requirements under the Basel Capital Framework, recovery and resolution planning, systemic risk regulation, and acquisitions and divestments under federal and state banking and financial services laws. He currently serves on the Board of Editors of the Banking Law Journal and on the Board of Advisors of the Review of Banking and Financial Services. Dr. Tarbert is the Vice Chairman of the Subcommittee on Systemically Important Financial Institutions (SIFIs) of the Banking Law Committee of the American Bar Association. In addition, he is a member of the Atlantic Council and the Bretton Woods Committee, and is also a Term Member of the Council on Foreign Relations.
Prior to his return to private practice, Dr. Tarbert served as Special Counsel to the U.S. Senate Banking Committee, where he was a lead expert and negotiator on the various legislative proposals that culminated in the historic and sweeping Dodd-Frank Act. Additionally, from 2008 to 2009, he was appointed Associate Counsel to the President of the United States. During his tenure at the White House, Dr. Tarbert oversaw the financial markets portfolio and worked with senior officials at the Treasury Department, the Federal Reserve, and other Executive Branch agencies to develop the emergency measures taken by the U.S. Government during the global financial crisis.
Dr. Tarbert has also served as Vice President and Deputy Director of the Committee on Capital Markets Regulation, an independent and non-partisan 501(c)(3) research organization dedicated to enhancing the competitiveness of U.S. capital markets and ensuring the stability of the U.S. financial system. Earlier in his career, he served as a law clerk to Chief Judge Douglas H. Ginsburg of the U.S. Court of Appeals for the D.C. Circuit and subsequently to Justice Clarence Thomas of the Supreme Court of the United States.
Dr. Tarbert earned his B.S., summa cum laude, from Mount St. Mary’s University (1998), his J.D., magna cum laude, and S.J.D. from the University of Pennsylvania (2001, 2002), and his M.St., with Distinction, and D.Phil. from Oxford University (2002, 2005). Dr. Tarbert is a member of the bars of the State of New York, the District of Columbia, and England & Wales. He also holds Certified Public Accountant (CPA) and Chartered Financial Analyst (CFA) designations.
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