NSCP New England Regional Membership Meeting

March 22, 2010

John Hancock Hotel & Conference Center
40 Trinity Place
Boston, MA

NSCP has a small room block available at the John Hancock Hotel for $124.00/night. Please book your reservation with the hotel directly before February 25th and ask for the National Society of Compliance Professionals room block. 617-933-7700

FEE SCHEDULE - DATE OF ACTUAL RECEIPT BY NSCP GOVERNS RATES CHARGED.

*Non-member from the same firm.

Discount for additional people from the same firm
In order to help compliance departments educate their compliance staff, NSCP is offering a 20% registration fee discount for each additional attendee from within the same firm. Look for the discount code in the first registered attendee’s confirmation e-mail. If you have any questions, please e-mail Liza Wentworth at lwentworth@nscp.org.

Sign up and pay online

Meeting Host
Financial Tracking, LLC

Meeting Sponsors
ACA Compliance Group (ACA)
Ashland Partners
Bingham McCutchen LLP
Compliance11
K&L Gates LLP
Regulatory Compliance, LLC
Renaissance Regulatory Services, Inc. (RRS)

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

• Changes in the regulatory landscape: new rules and focuses
• Exam priorities, deficiencies, and enforcement
• Internal controls for compliance officers to consider
• Q & A  (NSCP to solicit questions from registered attendees prior to the meeting)

Steven W. Hansen, Bingham McCutchen LLP
Michael E. Garrity, SEC*
Emily Gordy, FINRA*

Have a question for the Regulatory panel? Email us!

WORKSHOP SESSION I (10:15 am - 11:30 am)

(a) BD – DETECTING AND PREVENTING FRAUD

• How to protect against misappropriation, insider trading and front running
• Detecting market manipulation activities and rumor mongering
• Identity theft and the new FTC red flag rule
• Fraud prevention techniques and education on how to recognize, react and report fraud (keys to prevention and detection)

James B. Adelman. Commonwealth Financial Network
Richard Szuch, Bressler, Amery & Ross, P.C.
Al Vermitsky, CSCP, Hennion & Walsh Inc.

(b) IA – DETECTING AND PREVENTING FRAUD

• New client due diligence, expectations and regulatory requirements
• Portfolio management and supervisory reviews
• Protecting against misappropriation, insider trading and front running
• Key employee bells and whistles and AML management

Janette L. Filbert, Prudential Investment Management
Christopher P. Harvey, Dechert LLP

(c) GI - PRIMER ON COMPLEX FINANCIAL INSTRUMENTS

• Vetting products
• The latest new products
• The risks of these products
• Ongoing monitoring of products

J. Christopher Jackson, Deutsche Asset Management
Richard  D. Marshall, Ropes & Gray LLP

LUNCH (11:30 am - 12:45 pm)

WORKSHOP SESSION II (12:45 am - 2:00 pm)

(a) BD – ADDRESSING NEW ISSUES IN FINRA, SEC AND STATE EXAMINATIONS AND ENFORCEMENT PROCEEDINGS

• What processes should you have in place to address top exam deficiencies, changes in examination and exam techniques
• How are firms addressing the latest new rules
• What is being referred to Enforcement – the new landscape
• Enforcement proceedings and the acceptance, waiver and consent process – who, what, when and how

David M. DeMuro, O'Melveny & Myers LLP
Peter von Maur, RBC Capital Markets Corporation

(b) IA – ADDRESSING NEW ISSUES IN SEC AND STATE EXAMINATIONS AND ENFORCEMENT PROCEEDINGS

• What processes should you have in place to address top exam deficiencies and changes in examination and exam techniques
• How are firms addressing the latest new rules
• What is being referred to Enforcement – the new landscape
• Enforcement proceedings and the settlement process – who, what, when and how

Ndenisarya M. Bregasi, K&L Gates LLP
Mary Ann Iudice, BNY Mellon Asset Management

(c) HF – COMPLIANCE AND RISK MANAGEMENT

• Risk evaluation of referral, sub-advisory, solicitor relationships: BDs, RIAs and finders, prime brokers, administrators, custodians
• Preparing marketing and performance information and the difference between offering disclosures and marketing disclosures
• Implementing and monitoring trading and valuation policies
• Registration and regulatory reform

Daniel P. Barry, FMR LLC
Michael S. Caccese, K&L Gates LLP

WORKSHOP SESSION III (2:15 pm - 3:30 pm)

(a) BD —  CONDUCTING INTERNAL COMPLIANCE REVIEWS

• Developing effective WSPs and demonstrating a stellar review process
• Examples of transaction, periodic and forensic testing
• NEW case study: How to identify gaps within your compliance program: focus on remote locations, outside business activities and new products (compliance testing that works)
• Documenting the sampling process and building a plan that leads to CEO Certification

Richard M. Nummi, Accounting & Compliance International (ACI)
David M. Sobel, Abel/Noser Corp.

(b) IA — CONDUCTING INTERNALCOMPLIANCE REVIEWS

• Developing effective policies and procedures and demonstrating a stellar review process
• Examples of transactional, periodic and forensic testing
• NEW case study: How to identify gaps within your compliance program: focus on custody, pay to play arrangements with affiliates and beyond, and due diligence of new products and service provider (compliance testing that works)
• Documenting the sampling process and building a plan that leads to an annual review report

Linda J. Hoard, PNC Global Investment Servicing
James F. McGuire, FMR LLC

(c) HF – MANAGING CONFLICTS OF INTEREST

• Valuation, allocation, high water marks and performance fees
• Risk evaluation of third party arrangements: auditors, prime brokers, custodians, administrators and fund of fund manager relationships
• Side letter agreements, side by side trading
• NEW case study: How to provide effective, appropriate disclosures and consistent conduct (focus on offering memorandums, sales efforts and promotional materials for hedge funds)

Keith Marks, Ascendant Compliance Management
Derek M. Meisner, Regiment Capital Advisors LP
Steven M. Smith, Numeric Investors LLC

WORKSHOP SESSION IV (3:45 pm - 5:00 pm)

(a) BD - MONITORING SUPERVISORY CONTROLS – Hear direct from a Branch Manager

• Supervisory expectations and certification
• Delegation of supervisory duties and outsourcing concerns
• Supervision of branch offices and producing managers
• Supervisory controls and red flag review: follow-up and documentation

Michele A. Coffey, Morgan, Lewis & Bockius LLP
Miriam Lefkowitz, Shufro, Rose & Co., LLC

(b) IA - COMPLIANCE AND RISK MANAGEMENT – Hear direct from Risk Management

• How to identify and deal with conflicts of interest
• Enhancing current disclosures – where and how
• Evaluation of supervisory controls and internal procedures
• Addressing the regulators’ and firm’s foremost concerns

John Hunt, Goodwin Procter LLP
Joseph M. McGill, UBS Global Asset Management (Americas) Inc.

(c) GI – INFORMATION SECURITY POLICIES AND PROCEDURES INCLUDING ELECTRONIC COMMUNICATIONS  - Hear direct from IT

• Components of a comprehensive safeguards program and policy templates
• New and emerging technologies and their challenges (I-Phones, internet usage and beyond)
• Best practices and supervision solutions for social networking sites (Twitter, Linked-In, Facebook)
• Data encryption (laptops, PDAs, removable storage devices) and network security (physical security and firewalls)

Jason Gordon, Prudential Investment Management
Stephen Selby, LIMRA
Karl E Yost, Prudential

*Invited and pursuing authorization
**GI - General Interest; both IA and BD sides of the issue will be covered