2017 Private Client Forum Americas

February 15-17, 2017
Banyan Tree Mayakoba
Playa del Carmen, Mexico
(40 minutes from Cancun International Airport)

Private Client Forum Americas 2017:
The Times, They Are a Changin’

Conference Program

Day 1: Wednesday, February 15, 2017

13.00 Welcome Lunch

14.00 Strange Things Are Happening: Opening remarks from the Chairman
Joshua Rubenstein, Katten Muchin Rosenman, NY, USA

14.20 Keynote: How will the United States interact with the rest of the world?
2016 saw the swan song of Obama’s rein and the surreal presidential campaign of Clinton vs. Trump. Now that Trump is in office, we will dissect how old school business tactics will translate into the political arena and assess in the light of the eco-political shift change happening across the globe. Will Trump’s act as an irresponsible leader turn into an actuality of being a responsible one and how will the United States interact with the rest of the world moving forward?
Vicente Fox, Former President of Mexico

15.00 What’s Your Name, Who’s Your Daddy: CRS in action
Alongside the seemingly unstoppable force of transparency are the associated factors of integrity and accountability. With the first reporting by financial institutions due in March 2017 by the early adopters, this panel considers how CRS is changing the way wealth is being managed across the globe. We will also consider the challenges for CRS adoption amongst the late adopters, who may not be ready or willing to engage with CRS.
Moderator: Joshua Rubenstein, Katten Muchin Rosenman, NY, USA
Armando Lara Laffar, Partner, Chevez Ruiz Zamarripa, Mexico
Javier Canosa, Canosa Abogados, Argentina
Steve Sokić, Sanne Group, Jersey

15.45 Taxman: Challenging the IRS -  The Administrative Procedure Act (APA) as your secret weapon
The APA can provide a powerful arrow in your quiver when challenging the IRS, although it has often been overlooked or trumped by the Anti-Injunction Act (AIA).  This session will cover recent case law using the APA in an attempt to challenge the IRS and overcome the AIA.
Milan Patel, Partner, Anaford

16.20 Coffee Break and Networking

16.50 Interactive Boardroom Sessions
Following on from our plenary sessions, the interactive boardroom sessions will focus on a more in-depth discussion based around three key themes for 2017. The format of these sessions will allow delegates to actively participate in the discussion.

A. I Am a Rock, I am an Island: What standard of proof should apply to prove willfulness in FBAR cases?
In FBAR cases, the IRS has the burden of proving wilfulness.  However, the standard of proof is not settled.  Should it be preponderance of the evidence or clear and convincing?  This session will analyze the issue and discuss a unique approach to address the problem under the Declaratory Judgment Act.
Mark Matthews, Caplin & Drysdale, USA

B. Gotta Get My Dough: Tax Amnesties & disclosure
With government tax amnesties being brought into place across The Americas, this session explores the implications of this period of regularization and identifies the key risks and challenges in the repatriation of assets. Now that the era of full privacy has ended, will the flow of assets on a global level begin to retract?
Wenceslao Renovales Vallina, Patrimonium, Mexico
Manuel Tron, SMPS Legal, Mexico

C. It must have been love: Europe in crisis
Are you experiencing the effects of the on-going Eurozone crisis? Latin America has a long heritage with Europe and many UHNWIs have family and assets located in Europe, so the ramifications of unrest and economic turmoil are far reaching.  Come ready to share your experiences and get to grips with key policy challenges in Europe and the implications they might have on clients.
Gilead Cooper QC, Wilberforce Chambers, UK
Daniel Bader, partner, Bär & Karrer, Switzerland

17.50 End of day one

19.00 Drinks Reception

20.00 Welcome dinner

Day 2: Thursday, February 16, 2017

09.00 Strange Brew:  Opening remarks from the Chairman
Joshua Rubenstein
, Katten Muchin Rosenman, NY, USA

09.10 Oye Como Va: Handling the establishment of FATCA/ CRS for the Latin American family
Many Latin American families have moved their investments from Switzerland and other tax favorable jurisdictions to the USA due to CRS. This panel debate identifies the challenges in using the United States as a way of shielding their assets from the spotlight of CRS and exposes some pitfalls relating to estate taxes that have to be addressed.
Moderator: Martin Litwak, Litwak & Partners, Uruguay
Hal Webb, Bilzin Sumberg, USA
Aureliano Gonzalez Baz, Bryan Gonzalez Vargas & Gonzalez Baz, Mexico
Alberto Benshimol, D'Empaire Reyna Abogados, Venezuela
Mónica Reyes Rodríguez, Reyes Abogados Rodriguez, Colombia

09.55 Technologic: Technological liberation and the transparency of trust
Information is instantaneous in today’s digital world and this will continue to grow as more Gen X and Gen Y clients climb the wealth ladder. People expect information from their advisors to be provided instantaneously and in greater depth than ever before. They are no longer satisfied with an arm’s length relationship. Likewise, clients and their extended family are privy to greater information that can be found in the public domain through various digital media. This session explores the added complexity afforded by a technologically liberated client and considers whether trust has been impacted by this information deluge.
Tina Albright, Day Pitney, USA
Margaret O'Sullivan, O'Sullivan Estate Lawyers, Canada

10.40 Coffee break and networking

11.00 If You’ve Got The Money, I’ve Got The Time: 
Future financial centres and preferred countries to relocate – revisited
While traditional financial centres seemingly losing their dominant foothold on the global wealth market, new countries are entering into the global competition for attracting high net worth individuals. The same can be observed in relation to the preferred jurisdiction to relocate. This panel will look at the general rebrand happening amongst top financial centres in the global wealth market and also look at who is winning the propaganda war.
Daniel Bader, partner, Bär & Karrer, Switzerland
Alessandro Bavila, Maisto e Associate, Italy
Randall Krebs, Private Client Lawyer, Bermuda
Reaz Jafri, Withers, USA

11.45 Interactive Boardroom Discussions

A. Security: The Panama Papers' aftermath
The revelation of the so called "Panama Papers"  seems like a distant event, however, the ramifications on handling client data run deep and raise a number of important questions about offshore tax and asset protection regimes. This interactive session will consider the balance between data privacy and personal safety vs. tax compliance and transparency.  Are all offshore vehicles inherently negative?  Is providing trust/corporate services akin to providing legal services? What changes have taken place in your jurisdictions in the aftermath of the Panama Papers. Can the offshore services industry re-define itself?   Was it fair to Panama as a jurisdiction calling them "Panama Papers" instead of "Offshore Papers"?  Join this session to consider the wider ramifications of the Panama Papers on the wider offshore world.
David Mizrachi, Mizrachi, Davarro & Urriola, Panama

B. Nowhere to Run, Nowhere to Hide: Protecting the security of your client and their family
The era of full privacy has ended, so unsurprisingly, an individual’s ascent to wealth runs in direct correlation to the risk of kidnap and extortion in today’s extreme world. As steps are made to improve transparency of asset reporting, the likelihood of this valuable information falling in to the wrong hands is likely to increase. This session will outline the latest pre-emptive strategies that you and your clients can take to protect themselves.
David Lambotte, Intertrust, Cayman Islands
Kathryn von Matthiessen, Magno Law, FL, USA
Miguel Jáuregui Rojas, Jáuregui y Del Valle, Mexico

C. I Fought the Law: Lessons learnt from the largest US tax fraud case in US history
The Wyly case has resulted in Billionaire entrepreneur Sam Wyly being ordered to pay back $1.1 billion in back taxes, interest and penalties, making it one of the most brutal clashes an UHNWI has had with the IRS and SEC. Over the course of 20 years, Mr Wyly allegedly used offshore tax havens to divert billions of dollars in stock gains away from the US tax system. If nothing else, this case serves as a warning shot to those who structure overly complicated offshore structures. This session will identify some key lessons to take away from this case.
Joshua Rubenstein, Katten Muchin Rosenman, NY, USA

12.45 Lunch

14.00 Leisure activities
The Forum is not just about the content you receive in the formal sessions, it is about that crucial piece of information that you pick up whilst enjoying one of a choice of leisure activities.

19.00 Gala Drinks Reception

20.00 Gala Dinner

Day 3: Friday February 17, 2016

10.00 Welcome comments from the chair
Joshua Rubenstein
, Katten Muchin Rosenman, NY, USA

10.10 Keynote: Defying Gravity - Welcome to Liberland
Have you ever considered what you would do if you could wipe the complex slate of economics, society and politics clean? How would you plan a completely new state? What laws would you prioritise and how would you plan a modern liberal democratic state without the boundaries of history and what has gone before? Liberland and its President Jedlička is on the cusp of making this a reality. Hear this fascinating story and question what the rest of the world could learn from this new state.
Vít Jedlička, President, Free Republic of Liberland

10.50 Group Debate: Money, Money, Money – Curveball investments of the super-rich
The age of the riskless return has been over for some time now, but the risks of investment are spiralling out of control for some clients. When faced with market and political volatility, clients are increasingly turning to lower risk investments. This session identifies some of the new investments that are most fashionable amongst the UHNW client and addresses some top tips to assist your clients in handling such assets.
Luis Quijano Axle, Head of Financial Services, Yucatan Consulting Group

11.35 Closing comments followed by lunch