Meeting Sponsors
ACA Compliance Group
Bingham McCutchen LLP
Institutional Investor News
K&L Gates LLP
TD Ameritrade
QUMAS
Except where noted, all NSCP workshops are closed to the Regulators and members of the press.
General Session (8:30 am - 10:00 am)
Dialogue With Area Regulators
Open to Regulators and members of the press
• Current topics
• Exam deficiencies and enforcement priorities
• Regulatory landscape and SRO rule consolidation
• Suitability and the aging investor: retirement and senior concerns
• Credit crisis and implications on regulations
Ben A. Indek, Morgan, Lewis & Bockius LLP
Kay L. Lackey, SEC Regional Office (NY)*
Michael G. Rufino, FINRA Regional Office (NY)*
WORKSHOP SESSION I (10:15 am - 11:30 am)
(a) BD -- Supervisory Responsibilities
• Delegation of supervisory duties
• Supervision of branch offices and producing managers
• Supervisory red flag review: follow-up and documentation
• Supervisory controls and certification
Michele A. Coffey, Morgan, Lewis & Bockius LLP
David M. Sobel, Abel/Noser Corp.
(b) IA -- Compliance And Risk Management Issues
• A systematic practical approach to identifying and dealing with conflicts
• Enhancing current disclosures – where and how
• Evaluation of supervisory controls
• Current regulatory hot topics
Joseph Hanczor, Ascendant Compliance Management
(c) HF -- Hedge Fund Compliance And Risk Management Issues
• Post-Goldstein considerations regarding the “client”
• Implementing trade policies and monitoring trade practices
• Offering disclosures versus marketing disclosures
• Valuation policies and controls – determining fair value in volatile markets
• Establishing third-party arrangements: administrators, custodians, prime brokers, sub-advisors
• Short-selling controls: Form SH, Bear raids, market manipulation
Steven W. Hansen, Bingham McCutchen LLP
Robert Saperstein, Caxton Associates, LP
LUNCH (11:30 am - 12:45 pm)
WORKSHOP SESSION II (12:45 am - 2:00 pm)
(a) GI -- Ethics For Compliance Officers**
• Your firm’s Code of Ethics – personal trading issues
• Escalation of unethical or non-compliant behavior
• Professional dealings with customers, intermediaries and peers
• Compensation and employment considerations
Jeffrey C. Morton, ACA Compliance Group
Kathleen VanNoy-Pineda, LPL Financial
(b) GI -- Sampling Techniques And Compliance Testing**
• Practical approaches to test the firm’s internal controls – what is reasonable
• Acceptable standards regarding sampling methods
• Documenting the process and building a plan that leads to the CEO Certification
• Forensic testing: when will you need to do it? Daily or when bad things happen?
Richard D. Marshall, Ropes & Gray LLP
Janette L. Filbert, Prudential Investment Management
WORKSHOP SESSION III (2:15 pm - 3:30 pm)
(a) BD -- Rule 3012 Reviews: What Finra Is Looking For
• The rulebook consolidation process - how to use it in your 3012 review and what are some of the rule changes
• The most effective procedures that may impress examiners
• How to demonstrate and document that you have done a stellar review
• Examples of compliance testing at small firms and large firms
• Key documents you should be able to produce
Alexander Vermitsky, Hennion & Walsh Inc.
(b) IA -- Compliance Rule Audits: What The SEC Is Looking For
• Top 5 exam deficiencies
• The most effective procedures that impress examiners
• How to demonstrate that you’ve accomplished a stellar risk assessment
• Examples of transactions and forensic testing
• Key documents you should be able to produce
Timothy M. Simons, Ashland Compliance Group LLC
(c) GI -- Privacy Considerations: Regulation SP Amendments**
• Proposed Regulation SP amendments
• Information security safeguards and procedures
• Identifying, investigating and reporting on identity theft and privacy issues
• On-line account intrusions
Miriam Lefkowitz, Shufro Rose & Co., LLC
Richard C. Szuch, Bressler, Amery & Ross, P.C.
Jennifer Woods Burke, AXA Equitable
WORKSHOP SESSION IV (3:45 pm - 5:00 pm)
(a) BD -- Considerations For Enhancing The Compliance Function
• Structure for a compliance department (small and large firms)
• Components of an effective compliance program
• Robust testing and independent reporting
• Recruiting and compensation
• Building an effective compliance training program
James B. Adelman, Commonwealth Financial Network
William E. Donnelly, LeClairRyan
Peter von Maur, RBC Capital Markets Corporation
(b) IA — Considerations For Enhancing The Compliance Function
• Structure for a compliance department (small and large firms)
• Components of an effective compliance program
• Robust testing and independent reporting
• Recruiting and compensation
• Building an effective compliance training program
Glen Barrentine, Cadwalader, Wickersham & Taft LLP
Joseph M. McGill, UBS Global Asset Management, Inc.
(c) HF — Managing Non-Public Information
• Selective disclosure practices: preventing the creation and dissemination of rumors
• Product challenges: PIPES, distressed debt and bank loans
• Insider trading policies
• Side-by-side management for different strategies
• Big-boy letters
Michael S. Caccese, K&L Gates LLP
*Invited and pursuing authorization
**GI - General Interest; both IA and BD sides of the issue will be covered