NABL News January 2012

In This Issue

TAX & SECURITIES LAW INSTITUTE HIGHLIGHTS

March 8–9, 2012, Westin Savannah Harbor Golf Resort & Spa

The March 10th Annual 2012 Tax & Securities Law Institute held March 8-9, 2012, will cover nearly 15 topics dealing with current issues of securities law, tax law, and ethics. Government participants will join many of the panels, offering attendees the most up-to-date views of industry regulators.

A highlight of the Institute will be “The Future of Public Finance,” a municipal finance market reform General Session on Thursday, March 8, featuring Commissioner Elisse Walter, John J. Cross III, Associate Tax Legislative Counsel, U.S. Department of Treasury, and George Friedlander, Managing Director and Senior Municipal Strategist, Citigroup. Commissioner Walter will discuss the latest regulatory and legislative disclosure initiatives of the SEC and Congress, while John Cross and George Friedlander will discuss the status of federal tax reform proposals generated by Congress and the U.S. Treasury.

Tax Track Session Highlights

Tax sessions will include a panel on distressed entities that will look into issues involving debt restructuring, long-term working capital, and other concerns that are of relevance to issuers and conduit borrowers in the current economic environment. And, of course, no public finance conference would be complete without a panel discussing arbitrage, rebate, and reissuance concerns, including matters presented by direct bank placements.

Securities Track Session Highlights

The Institute will explore the latest developments in the securities law area. In light of the rapid growth of direct purchase transactions involving banks, and other institutional investors, the Institute will feature a panel entitled “What Should You Know About Direct Purchases?” This panel will examine the interplay among accounting, banking, and securities laws impacting direct purchases. It will also analyze the distinction between “bank loans” and “municipal securities” and the consequences of such an analysis on financial advisors, placement agents, bank purchasers, and issuers, and discuss the potential effect of the Volcker Rule on direct purchases. Another session will showcase some of the finest municipal bankruptcy lawyers in the country discussing the potential impact of bankruptcy on the enforceability of bondholder covenants, rights, and remedies, as illustrated by such high profile Chapter 9 cases as Vallejo, Jefferson County, Harrisburg, Sierra Kings Health Care District, and Central Falls. The Institute will also offer an informative perspective on the concerns and requirements of investors in the current municipal debt market in a panel entitled “Tales from the Buy Side: An Investor’s Perspective on Disclosure and Other Issues.” This panel will include representatives from some of the largest purchasers of tax-exempt bonds in the country.

Joint Panel Highlights

A joint panel of tax and securities law attorneys will offer best practices for small and medium-sized issuers with particular focus on the adoption of a workable disclosure policy and post-issuance compliance procedures for those issuers who lack the resources, the personnel and the expertise of large municipal issuers.

For more information on the Institute please download the conference brochure or visit NABL’s website for online registration.

Interested in sponsorship or exhibiting opportunities? Download the TSLI Sponsorship & Exhibitor Brochure.

“THE FUNCTION AND PROFESSIONAL RESPONSIBILITIES OF BOND COUNSEL" THIRD EDITION, PRINTED VERSION NOW AVAILABLE

NABL members may request one complimentary printed copy of the Third Edition of "The Function and Professional Responsibilities of Bond Counsel." If you would like to receive the printed version, please email Shadi Safikhani by January 20, 2012.

This publication is also available as a PDF on the NABL website and can be downloaded here.

COMMITTEE NEWS: NABL COMMITTEE LAUNCHES LINKEDIN DISCUSSION GROUP

The Securities Law and Disclosure Committee has established a NABL LISTSERV dedicated to securities law questions. The LISTSERV is called the “NABL Securities Law and Disclosure Group” and is hosted on the web site LinkedIn. Launched in December, recent discussion topics have included the Municipal Securities Rulemaking Board’s current focus on disclosure practices pertaining to bank loans. For NABL members interested in joining the LinkedIn discussion group, please contact committee member Jeff Peelen .

MEMBER SPOTLIGHT – JEFFERY QUALKINBUSH, BARNES & THORNBURG L.L.P.

Tell us a little about yourself – your family, your hobbies, etc. .
I am blessed to be married to my wife Julie for almost 19 years, and we have two daughters who are 16 and 17 years old. My hobbies/extracurricular interests include serving as the Chair of the Indianapolis-Marion County Public Library Foundation Board, assisting with the legal needs at the Indianapolis Neighborhood Christian Legal Clinic, studying fine wines, cooking, playing golf and tennis and taking the occasional yoga class. I grew up in Indianapolis, studied philosophy at Wabash College in Crawfordsville, Indiana, studied in Heidelberg, Germany during one semester in College, and received my J.D. from the University of Michigan. After graduating from law school, I started working at Barnes & Thornburg in September of 1991.

What first interested you in law?
I first became interested in law because I thought it would make a good platform to move into a life involving politics and government service. However, after working for a couple of summer internships in college and a couple of political campaigns, I decided the life of an elected official was not for me. Yet, I was still very interested in pursuing a career in law, because I perceived it as being a job in which I could help people solve life's challenges using many of the basic skills I had learned during my years studying philosophy. I am grateful to have learned that this was indeed true now having practiced for more than 20 years.

How has membership in NABL been of value to you and your practice?
As a young lawyer, the Fundamentals Seminar really helped me better assemble the pieces of the puzzle. While this experience has continued during my 19 years of NABL membership, I believe the best assistance I have had with NABL has been (a) the materials, to which I refer frequently, and (b) the interaction with the members.

You served for several years on the BAW Steering Committee – how did that experience influence your continued involvement in NABL?
Serving on the BAW Steering Committee really showed me that the workshops and seminars are really driven by the current needs of the members and that there is a great deal of practitioner thought and work put into each NABL activity. It also showed me the importance of assisting NABL in anyway I can because this practical experience teaching is what makes NABL such a valuable organization and gives it its life. It also showed me the need to recruit the involvement of other practitioners to serve on panels in order to make sure that NABL continues to have fresh eyes and minds addressing the current members' needs.

As the 2012 Education and Member Services Committee Vice Chair, can you tell us about any new plans, services or programs that members can expect in the upcoming year?
While we are still in the assessment period, I think the members may start to see more integration of technology into the delivery of educational programs through things such as podcasts and webinars, if they are feasible from a cost standpoint. I also hope we can maybe find ways of providing a broader range of services to the NABL members which make NABL an even more attractive organization for municipal finance practitioners.

JOIN NABL’S SOCIAL NETWORK

NABL wants to connect with you! NABL members and non-members involved in the field of public finance profession a part of our Facebook page and LinkedIn group. These social network out lets allow followers to stay up-to-date on NABL events and on pertinent information relating to state and municipal bonds. They also provide a community platform where everyone can share and discuss there thoughts and ideas.

Facebook:

Millions of people use Facebook everyday to keep up with organizations, share links, videos and other information, and learn more about the people involved and their causes. You'll get the latest news and meet people with similar interests. Visit and join NABL’s Facebook page.

LinkedIn:LinkedIn is a business-related social networking site, mainly used for professional networking. NABL’s LinkenIn group is full of industry experts willing to share advice. Join NABL’s LinkedIn page today. In addition to NABL’s main group, the Securities Law and Disclosure Committee has established “NABL Securities Law and Disclosure Group”, which focuses on security and law discussion topics.