Meeting Sponsors
ACA Compliance Group
Bingham McCutchen LLP
K&L Gates LLP
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
David A. Greene, FINRA
Michelle L. Jacko, Core Compliance & Legal Services, Inc
Rosalind R. Tyson, SEC Pacific Region *
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
Sylvia M. Scott, Freeman, Freeman & Smiley, LLP
Elizabeth M. Herbst, UBS Financial Services Inc.
(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
Kerry E. Cunningham, ING Advisors Network
David A. Hearth, Paul, Hastings, Janofsky & Walker LLP
(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
David W. Porteous, Levenfeld Pearlstein, LLC
Charles H. Field, Nicholas-Applegate Capital Management
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
Susan L. Hoffman, Bingham McCutchen, LLP
Charles R. Lowry, UBS Financial Services Inc.
(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?
Craig R. Watanabe, NRP Financial, Inc.
Krista Zipfel, Advisor Solutions Group, Inc.
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
Brian T. Applegate, ING Direct/Sharebuilder Securities
Mary E. Cobb, M.E. Cobb Consulting
(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
Laurie A. Dee, Paul, Hastings, Janofsky & Walker LLP
Jean-Paul Migrditchian, Matthews International Capital Management 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
Kerry E. Cunningham, ING Advisors Network
Angela M. Mitchell, Capital Research and Management Group
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
Mark H. Nicholas, ING Americas Legal Services
Diane P. Novak, DPN Consulting Services
(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
Alexandra C. Sparling, K&L Gates LLP
Craig R. Watanabe, NRP Financial, 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
Mark D. Perlow, K&L Gates LLP
Helane L. Morrison, Hall Capital Partners LLC
*Invited and pursuing authorization
**GI - General Interest; both IA and BD sides of the issue will be covered