Monday & Tuesday October 24-25, 2016 Renaissance Washington, DC Downtown Hotel 999 9th Street, NW Washington, DC

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1 The EB-5 immigrant visa program was created to attract immigrant investors to invest capital, create jobs, and stimulate the U.S. economy. This EB-5 Investors Summit is for both entry-level and experienced EB-5 lawyers and others in the EB-5 industry. It covers cutting edge issues with in-depth panels that provide an opportunity to learn from all the critical parts of an EB-5 team, including immigration lawyers, securities and business lawyers, economists, developers, registered brokers and advisors, and regional center principals, as well as government officials, in a framework that provides practical information for attorneys representing individual investors and/or regional centers. The program emphasizes planning, compliance, due diligence, enforcement issues, and ethical considerations, so lawyers understand what is permissible and practical and what is not in the complex EB-5 investor world. The aim of this conference is to demystify EB-5 and present the practical nuts and bolts aimed at teaching lawyers how to effectively represent clients in both direct and regional center cases. Speakers will be available during networking breaks to answer attendee questions on a one-on-one basis. Monday & Tuesday October 24-25, 2016 Renaissance Washington, DC Downtown Hotel 999 9th Street, NW Washington, DC MONDAY, OCTOBER 24, 2016 Day Coordinator: Lynn Marie Lee, AILA Mexico District Chapter Chairs/USCIS International Operations Liaison Committee Vice Chair, Springfield, VA 7:15 am 5:00 pm REGISTRATION AND EXHIBITS 7:55 am 8:00 am OPENING REMARKS Robert C. Divine, Conference Program Chair, Chattanooga, TN 8:00 am 9:00 am EB-5 OVERVIEW Panelists will provide general background perspective and will provide a framework for the conference. Brief Legislative Update Visa Alternatives in Common Scenarios Initial EB-5 Eligibility and Regional Center vs. Direct Investment Programs Total Process: Project Conception to I-829 Approval

2 Dawn M. Lurie (DL), Washington, DC Farah Abbas, Washington, DC Nima Korpivaara, Newport Beach, CA 9:05 am 10:05 am DUE DILIGENCE AND MARKET CONSIDERATIONS IN EB-5 CASES One of the most critical decisions an investor must make involves navigating the myriad of EB-5 offerings for the purpose of investment-based immigration. Panelists will present the framework for investors engaged in performing due diligence on EB-5 projects, as well as an overview of the legal requirements and issues that will be covered in more detail in later sessions. Market Considerations: What Should Investors and Agents Look For? Assessing Immigration Risks Concerning Project, Regional Center, and Individual Investors Assessing Business and Investment Risks Conflicts of Interest among Investor, Agents (Including Finder Fees), New Commercial Enterprise (NCE), Regional Center (RC), Job Creating Entity (JCE), etc. Third-Party Administration of Investment Funds Carolyn S. Lee (DL), AILA EB-5 Investor Committee Vice-Chair, Ithaca, NY H. Ronald Klasko, AILA Past President/EB-5 Investor Committee Chair, Philadelphia, PA John Roth, Piermont, NY 10:05 am 10:20 am NETWORKING BREAK 10:20 am 11:20 am BUSINESS CONSIDERATIONS FOR YOUR CLIENT IN REGIONAL CENTER INVESTMENT: UNDERSTANDING THE CAPITAL TRANSACTION How exactly is the NCE investing in the JCE? As an equity or preferred equity investor? As a lender making a loan? If so, what kind of loan first deed of trust, second lien, or mezzanine? When are EB-5 funds made fully available to the JCE and how? What is the relationship of EB-5 funds to all other capital in the JCE and why does it matter? What loan provisions will most influence NCE investment risk and immigration compliance? A panel of corporate and transactional lawyers and a regional center principal will explore these important EB-5 investment issues. Understanding the Deal Structure The Regional Center, NCE, and JCE Evolution of Escrow Understanding Release Terms and Holdbacks Understanding the Capital Stack and Different Sources of Capital What if the Deal Fails, Who Wins and Loses, and How? David M. Morris (DL), Washington, DC Tom Rosenfeld, New York, NY Catherine DeBono Holmes, Investment Capital & Business Transactions Attorney, Los Angeles, CA 11:25 am 12:25 pm ADVANCED SOURCE OF FUNDS AND PATH OF FUNDS ISSUES In this advanced panel, panelists will discuss requests for evidence (RFE) trends, documenting more challenging sources and paths of funds, and responding to RFEs. Strategies for Proving Lawful Source of Funds Tackling "Indebtedness" Issues Country-Specific Issues, including Currency Exchange Restrictions Recent Challenges and Solutions: RFEs, NOIDS, and In-Country Audits Anusree Anu Nair (DL), Philadelphia, PA Bernard P. Wolfsdorf, AILA Past President, Santa Monica, CA Reza Rahbaran, Miami, FL 12:25 pm 12:30 pm SPONSOR OPPORTUNITY -TBD 12:30 pm 1:40 pm LUNCH

3 12:40 pm 1:40 pm LUNCH PANEL: BEST PRACTICES: MANAGING THE RISK IN EB-5 PRACTICE In the high stakes world of EB-5 practice, are you ready to handle the risks of client complaints and potential lawsuits? Even if a lawsuit is unfounded, and if you carry malpractice insurance, defending yourself against such allegations is very disruptive to your practice and law firm. Learn how to avoid complaints and to effectively defend malpractice allegations if they do arise. Drafting Client Representation Agreements Managing Client Expectations Maintaining Conflict Awareness Understanding Insurance Coverage Defending Malpractice and Disciplinary Complaints Reid Trautz (DL), AILA Director, Practice and Professionalism Center, Washington, DC H. Ronald Klasko, AILA Past President/EB-5 Investor Committee Chair, Philadelphia, PA David L. Bridges, President, The Leavitt Group of Atlanta, Inc., Lawrenceville, GA Gayle Wissinger, LPL Product Manager, Hanover Professionals, Grand Rapids, MI 1:40 pm 2:40 pm DIRECT EB-5 TRANSACTIONS Direct EB-5 investments may be the more appropriate route for true alien entrepreneurs and for investors who wish to avoid the legislative uncertainties attendant with the EB-5 Regional Center program. Panelists will discuss the unique structures, evidentiary features, and idiosyncratic USCIS practices critical to success in direct EB-5 investments. Immigration Planning for Starting or Acquiring a Business Troubled, Expanded, or Restructured Businesses, and Why? Transitioning from E-2 to EB-5 Structures for Delivery of EB-5 Funds and Documenting Use of Funds Direct EB-5 Business Plans and Requirements of Matter of Ho Pooled Capital and Franchises in Direct EB-5 Transactions Documenting Job Creation From Salaries to E-Verify I-829 Issues Unique Requirements, Timing, and Common Pitfalls Brandon Meyer (DL), San Francisco, CA Tammy Fox-Isicoff, AILA Board of Governors, Miami, FL Christian Andrew Triantaphyllis, Houston, TX 2:45 pm 3:45 pm SECURITIES LAW AND COMPLIANCE Panelists will provide an introduction to the complex area of securities law, regulation, and compliance in the unique factual context of EB-5 transactions and marketing. Panelists will also cover the role of broker dealers and investment advisors in the EB-5 offering process, and due diligence tips from a securities perspective. SEC s Growing Role in EB-5 and USCIS Collaboration A Primer on Regulation D and Regulation S as Exemptions from Registration A Primer on the Investment Company Act and the Investment Advisors Act The Intersection of Securities Compliance and USCIS Adjudications The Role of the Broker/Dealer and Considerations of Transaction-Based Fees Warning Signs and Pointers for Avoiding Fraud Robert C. Divine (DL), Conference Program Chair, Chattanooga, TN Jennifer Moseley, Atlanta, GA Osvaldo F. Torres, Fort Lauderdale, FL John D. Tishler, San Diego, CA 3:45 pm 4:00 pm NETWORKING BREAK 3:55 pm 4:00 pm SPONSOR OPPORTUNITY-TBD 4:00 pm 5:00 pm SECURITIES ENFORCEMENT BY SEC, STATE, AND PRIVATE PARTIES

4 As clearly evident in increased media coverage and agency announcements, the SEC is escalating its enforcement of securities laws in the EB-5 realm, aggressively prosecuting bad players, and putting receivers in charge of projects. Panelists will cover recent actions by the SEC and provide insights on understanding the rights and interests of EB-5 investors from a securities law perspective. Overview of Recent Litigation Players, Process, and Penalties Receivers and Their Approach to Immigration Benefits Managing Investor Interest Amidst Chaos Other EB-5 Related Litigation Kate Kalmykov (DL), Florham Park, NJ Stephanie Avakian, Deputy Director of Enforcement, SEC, Washington, DC Lori H. Patterson, Securities Lawyer, Memphis, TN *TBD, Class action plaintiffs lawyer 5:00 pm 6:30 pm MONDAY EVENING RECEPTION SPONSORED BY CMB REGIONAL CENTERS TUESDAY, OCTOBER 25, :15 am 5:00 pm REGISTRATION AND EXHIBITS Day Coordinator: Lynn Marie Lee, AILA Mexico District Chapter Chairs/USCIS International Operations Liaison Committee Vice Chair, Springfield, VA 7:15 am 8:00 am SPECIAL EARLY BIRD SESSION AILALINK TRAINING See AILALink in action! Developed and maintained by AILA, AILALink is an online research library of fully searchable resources necessary for the successful practice of immigration law statutes, regulations, case law, agency correspondence, AILA publications, immigration forms, and much more. See what AILALink can do for your practice during this special training! In addition, the presenter will give a brief overview of the new AILA.org. Learn how to utilize your number one AILA member benefit! 8:00 am 9:00 am JOB CREATION METHODOLOGIES FOR REGIONAL CENTER PROJECTS Success in the EB-5 case depends on convincing proof of job creation. Panelists will cover essential terminology, seek to remove the mystery surrounding job creation methodologies, and provide practice pointers on how to plan the job creation component of the EB-5 case. Direct, Indirect and Induced Jobs Understanding Key Terms Accepted Job Models RIMS II, IMPLAN, REMI, REDYN, Others Typical Inputs in Job Creation Models Construction Expenditures (Hard/Soft Costs), Revenues, and Onsite Workers Lingering Issues 30-Month Policy, Tenant Occupancy, Guest Expenditures, Others Ignacio A. Donoso (DL), Bethesda, MD Kimberly Atteberry, Economist, Santa Fe, New Mexico John Barrett, Economist, Somerville, MA Jeffrey Carr, Economist, Williston, VT 9:05 am 10:05 am I-829 REMOVAL OF CONDITIONS PROCESS AND EB-5 COMPLIANCE The number of required I-829 petition filings is increasing rapidly as projects mature, but the visa backlog will delay these filings for China-born investors. Panelists will provide an in-depth look at strategies in removing conditions from the permanent resident status of individual investors, including documenting job creation, options in events of material change, and possibilities of litigation if an I-829 petition is denied. Panelists will also provide tips on advising clients in maintaining their resident status. Existing Legal Framework and Components of Successful I-829 Petitions Direct EB-5 Job Creation vs. Regional Center Job Creation

5 Sustainment of the Investment, Loss of Jobs Previously Created, Liquidation of JCE, etc. Recent RFEs, NOIDs, and Denials of I-829 Petitions Solutions in Imperfect Cases, and Litigation of I-829 Denials Post-Immigration Planning, including Avoiding Findings of Abandonment Elsie Arias (DL), Los Angeles, CA Kristal Jeanette Ozmun, Ithaca, NY John Patrick Pratt, Miami, FL 10:05 am 10:20 am NETWORKING BREAK 10:20 am 11:20 am REPRESENTING REGIONAL CENTERS WITH SETTING UP, MAINTAINING STATUS, AND PLANNING PROJECTS Your client wants to raise EB-5 funds to finance a new hotel, housing development, or assisted living project. In this panel, panelists will discuss the various avenues for the creation of a regional center, what is required for a regional center designation, ongoing regional center compliance, and planning EB-5 capital investment projects. Can EB-5 Work in This Deal? Whether to Create Your Own or Affiliate with an Existing Regional Center Roles of Lawyers, Writers, Economists, etc. What Is Really Required to Get a Regional Center Designation? Exemplar: Pre-Approval for I-526 Petitions What Is the Value and Is it Worth the Effort and Costs? Form I-924A and Ensuring the Regional Center s Ongoing EB-5 Compliance Termination: Avoidance and Implications for All Related Parties Cletus M. Weber (DL), Mercer Island, WA Michele A. Franchett, Los Angeles, CA Edward J. Carroll, Grand Isle, VT 11:25 am 12:25 pm CHINA-FOCUSED ISSUES Over 85% of EB-5 investors are China-born nationals. If you want to practice in the EB-5 investor program, you must become familiar with the key issues facing Chinese investors, who are becoming increasingly savvy about the process and investment risks. Impact of the Adjudication Backlogs, Visa Unavailability, and "Filing" Dates Counseling Clients on Visa Options, Including Interplay with B and F Visas, and Adjustment of Status Getting the Children in: Child Status Protection Act Strategies and Possibilities of Child Investors Membership in the Communist Party of China and Other Potential Inadmissibility Issues Chun Yun Elizabeth Peng (DL), Mercer Island, WA David Hirson, Costa Mesa, CA Robert P. Gaffney, San Francisco, CA 12:25 pm 12:30 pm SPONSOR OPPORTUNITY-TBD 12:30 pm 1:10 pm LUNCH 1:10 pm 1:40 pm KEYNOTE LUNCH SPEAKER Julia Harrison, Acting Chief, Immigrant Investor Program Office (IPO), USCIS, DHS, Washington, DC 1:40 pm 2:40 pm ADVANCED ISSUES IN REPRESENTING INDIVIDUAL INVESTORS New issues come up all the time in EB-5 practice. What worked last year may result in an RFE or denial this year. Panelists will discuss advanced and emerging issues. Overkill: Security and Exit Strategies Gone Wild That Turned Into Nightmares

6 Advising Investors about Project Material Change and Other Issues Recent Adjudications Consequences of Regional Center Termination I-526 Denial Litigation Jennifer Hermansky (DL), AILA New Members Division Steering Committee Chair, Philadelphia, PA Denyse Sabagh, AILA Past President, Washington, DC Helena Tetzeli, Miami, FL 2:45 pm 3:45 pm PROTECTING YOUR EB-5 PRACTICE: ETHICAL ISSUES AND MINIMIZING RISK Panelists will walk through a sample engagement letter and address key ethical concerns encountered in EB-5 practice. Identifying Legal Services and Potential Limited Scope Representation Competence Knowing When to Co-Counsel and When to Use Experts Representing Multiple Clients and Informed Consent Common Hazards and Gauging Potential Conflicts of Interest Lawful Source of Funds and Truth in Filing Knowing Your Client and Coordinating with Agent Intermediaries Getting Paid Consistent with the Professional Code Practice Pointers for the Engagement Letter What to Do When a Conflict Arises Cyrus D. Mehta (DL), New York, NY Robert Juceam, AILA Past President, New York, NY Chad Ellsworth, New York, NY 3:45 pm 4:00 pm NETWORKING BREAK 3:55 pm 4:00 pm SPONSOR OPPORTUNITY-TBD 4:00 pm 5:00 pm HOT TOPICS, LEGISLATIVE UPDATE, AND OPEN Q&A Program Extension and Congressional Reforms New Agency Developments and Trends - Recent Memos and Stakeholder Calls - Interagency Cooperation - New GAO, OIG, and DOC Reports on EB-5 Program Prospects and Implications of Sunset of RC Law Carolyn S. Lee (DL), AILA EB-5 Investor Committee Vice-Chair, Ithaca, NY Enrique Gonzalez III, Coral Gables, FL Peter D. Joseph, Executive Director, IIUSA, Washington, DC H. Robert Sakaniwa, AILA Senior Associate Director, Advocacy, Washington, DC George Fishman, Chief Majority Counsel, Subcommittee on Immigration and Border Security, House of Representatives, Washington, DC Gary N. Merson, Democratic Chief Counsel, Subcommittee on Immigration and Border Security, House of Representatives, Washington, DC 5:00 pm CONFERENCE CONCLUDES

7 CONFERENCE PROGRAM COMMITTEE Robert C. Divine, Conference Program Chair, Chattanooga, TN Elsie Arias, Los Angeles, CA Edward J. Carroll, Grand Isle, VT Ignacio A. Donoso, Bethesda, MD Kristal Jeanette Ozmun, Ithaca, NY Chun Yun Elizabeth Peng, Mercer Island, WA Tom Rosenfeld, New York, NY Grace Woods, AILA Senior Director of Education, Washington, DC Tamesha Keel, AILA Education Program Manager, Washington, DC The Conference Program Committee thanks prior AILA EB-5 Conference Program Committees for building a foundation of excellence in continuing legal education in the EB-5 area. This conference builds on their contributions.

EB-5 IMMIGRANT INVESTOR SERVICES LOS ANGELES NEW YORK SHANGHAI

EB-5 IMMIGRANT INVESTOR SERVICES LOS ANGELES NEW YORK SHANGHAI Global Reach Local Service Wolfsdorf Rosenthal LLP is a full-service, top-rated immigration law firm. With offices in Los Angeles, New York