| DL RECENT EVENTS |
| March 2009 — Seoul, Korea |
| Dr. T.J. Um , CIO Samsung Investment Trust Management Company, delivering opening remarks |
| Due Diligence Issues for Institutional Investors: Alternatives for Minimizing Investment Fraud Risk |
| On March 17, 2009, Drohan Lee hosted a conference and dinner for Korean public and private institutional investors focused on the minimization of investment fraud risk. Termed “the first of its kind in Korea” by opening speaker Dr. T.J. Um, Chief Investment Officer of Samsung Investment Trust Management Corp, the conference was attended by over 80 representatives at the Shilla Hotel in Seoul. DL’s primary co-host for the event was Confido Advisors, who hosted the first ever hedge fund conference in Korea exactly 7 years earlier. Co-sponsors included Advanced Markets, a major bank-affiliated electronic trading platform and U.S.-based futures/FX broker, as well as Kroll, the worlds largest international investigation agency. Major news services also attended (see AP Wire Coverage link on the navigation bar at left). Additional opening comments were provided by John Rodriguez, CEO of Confido Advisors, who brings an unparalleled track record of service to the Korean institutional investment community. Mr. Rodriguez stressed the need for scepticism and independent verification in the due diligence process, as well as the need for primary, “on the ground” investigation in international investment. The first of three seminar modules, presented by Jae W. Lee, a member of DL’s management committee, focused on developments and analysis of recent major western investment frauds, including Madoff and Stanford. A second module focused on the hedge fund investment due diligence process, and lessons learned from recent events, presented by DL partner Jack Drohan. Changing issues such as counterparty, co-investor and liquidity risks were at the forefront, together with re-evaluation of traditional due diligence methods in light of recent hedge fund civil litigation. The final module presented structural alternatives to classic hedge fund “feeder” and fund of fund vehicles, as well as technological developments offering greater transparency and lower risk of transactional and custodial fraud. Rob Fleschler of Advanced Markets presented, along with comments on innovative multi-manager legal structures by Jack Drohan. The well attended conference has generated significant follow-up interest, and DL plans to host further such events in Asia in coming months. For further information on past or future DL events, please visit the “contact us” tab on our home page.
|
| John Rodriguez (CEO Confido Advisors (center) event co-host
|
| DL’s Jae W. Lee presenting an update of recent U.S. fraud cases
|
| DL’s Jack Drohan presenting on due diligence methods
|
| Dr. T.J. Um, CIO of Samsung and DL Partner Jack Drohan |