New York, NY, December 11, 2008 --(PR.com
)-- The Knowledge Congress, the leading producer of regulatory focused webcasts announced today that Matthew T. O'Grady, Managing Director, Trading & Underwriting of Herbert J.Sims & Company, Inc. will speak at the Knowledge Congress’ upcoming webinar entitled: “Rule 163 New Rules for Bond Insurers”. This 2-hour event is scheduled on March 30, 2009, Monday, at 12:00 PM - 2:00 PM EST. (For further details of the event and an updated list of panelists, please visit: http://knowledgecongress.org/event_2008_R163.html)
In an effort to increase transparency and consistency to the financial guaranty industry, The Financial Accounting Standards Board introduced Statement No. 163 which will require insurance companies such as bond insurers to significantly modify their business processes. The new rule will require companies to report claim liabilities in circumstances of deteriorating credit, recognition of revenue for a cost of capital construct, and make public their risk management policies and provide more details on their watch list. Companies that write financial guaranty contracts should have a critical understanding of this new standard as it will have far reaching implications in their business model.
The Knowledge Congress is assembling a panel of distinguished professionals and key regulators to help you understand the Impact of Statement 163 on your firm and the broader market. The panel will present their findings, which include “Best Practices” in a two-hour Live webcast.
About Matthew T. O'Grady
Matthew O'Grady is responsible for the pricing of all Herbert J. Sims & Co., Inc.'s underwriting and secondary market activity. He has underwritten nearly $6 billion in municipal bonds. Mr. O'Grady's secondary market activity includes overseeing $1 billion in assets for retail investors and daily interaction with the largest municipal bond mutual funds in the US. He has over 13 years of experience in municipal finance and has been quoted in various publications, including the Bond Buyer and the L.A. Times for his expertise in trading, underwriting, and market analysis. Prior to joining Sims in 1997, Mr. O'Grady's work experience included the Municipal Research Department at Bloomberg; municipal bond evaluator for Interactive Data, a division of Dun & Bradstreet; and a fixed-income pricing analyst for Municipal Debt at Pershing, a division of Bank of New York Mellon. He currently serves on the Robbinsville Board of Education and the Young Professional Group for the Robert Wood Johnson University Hospital Hamilton Foundation. Mr. O'Grady is a Master Mason and his philanthropic endeavors include the Special Olympics and The Arc (Association for Retarded Citizens).
About Herbert J.Sims & Company, Inc.
Founded in 1935, Herbert J. Sims & Co., Inc. is a leading national underwriter of tax-exempt bonds for senior housing and long-term care providers. Sims underwrote the first tax-exempt long-term care bond issue in the United States in 1965 and has since managed over $9 billion of senior housing and long-term care bond issues.
For more information about Matthew T. O'Grady, and Herbert J.Sims & Company, Inc., please visit: http://www.hjsims.com
About The Knowledge Congress
The Knowledge Congress is an organization that produces webcasts that examine regulatory changes across a variety of industries. “We bring together the world's leading authorities and industry participants through informative two-hour Live webcasts to study the impact of changing regulations.” To contact or to register for an event, please visit: www.knowledgecongress.org.