MONDAY :: TUESDAY :: WEDNESDAY :: Speaker List (PDF)

MONDAY, November 1, 2010
8:30am – 10:00am :: PRE-CONFERENCE COURSES
ENTRY LEVEL I(a) BD – An Introduction to FINRA Regulations and the Role of the Compliance Officer
• Oversight and supervisory responsibilities, including written supervisory procedures
• Registration and reporting requirements
• Serving as your firm’s regulatory interface
• Using risk assessments to enhance the annual review process
Kenneth M. Cherrier, Waddell & Reed, Inc.
Stephen H. Cohen, Loeb & Loeb LLP

ENTRY LEVEL I(b) IA – An Introduction to the Advisers Act and the Role of the Compliance Officer
• Oversight and supervisory responsibilities
• Serving as your firm’s regulatory interface
• Establishing and updating policies and procedures
• Using risk assessments to enhance the annual review process
Clifford J. Alexander, K&L Gates LLP
Selwyn J. Notelovitz, Wellington Management Company, LLP

ENTRY LEVEL I(c) HF – Fundamentals of Compliance and Best Practices for Private Funds and Hedge Funds
• Legal and regulatory considerations: investment structure, domicile and registrations vs. Federal registration requirements
• Filings: Form ADV, Form D, state notice filings, IA representatives, FBAR filings
• Basic compliance procedures regardless of registration status
• Compliance pitfalls
Jeffrey R. Blumberg, Drinker Biddle & Reath LLP
Dianne Mattioli, EIM Management (USA) Inc.

I(d) GI – Professional Development for Compliance Professionals
• How to learn industry regulations and stay current
• How to improve your knowledge of your firm
• Essential skills for compliance professionals
• Professional development plans
Bari M. Havlik, Charles Schwab & Co., Inc.
Craig R. Watanabe, CSCP, Penniall & Associates, Inc.
Krista S. Zipfel, Advisor Solutions Group, Inc.

I(e) IA – Establishing Effective Records Management in Accordance with Rules and Using Technology
• Building a strong records management system
• Ensuring that you can produce the required records in an exam crunch
• Using electronic record storage - should you keep hard copies?
• Prudent destruction policies
Keith S. Marks, Ascendant Compliance Management, Inc.
Katie S. Kloster, Värde Partners, Inc.

ENTRY LEVEL I(f) BD – The Basics of Underwriting
• Municipal and equity underwriting
• When and how to use a watch or restricted list
• Official statement, Private Placement Memorandum, investor letters, red herrings, etc.
• Fairness opinions
Chris Charles, Wulff Hansen & Co.
Anna T. Pinedo, Morrison & Foerster LLP
Patricia M. Harrison, Simmons & Company International

ROUNDTABLES
ADVANCED BD Compliance Officers Advanced Discussion Groups
This Roundtable is designed for seasoned BD compliance professionals who, in a smaller group setting, will have an opportunity to network with their peers and address compliance-related topics of interest. We will select a facilitator who will prepare a list of timely topics and issues. However, we strongly encourage participants to prepare their own list of issues and topics to be discussed amongst the group. This is an excellent opportunity to learn how others in the industry are addressing matters of similar interest and concern.
Torstein M. Braaten, CSCP, ITG Canada Corp.
David M. Sobel, Abel/Noser Corp.

ADVANCED IA Compliance Officers Advanced Discussion Groups
This Roundtable is designed for seasoned IA compliance professionals who, in a smaller group setting, will have an opportunity to network with their peers and address compliance-related topics of interest. We will select a facilitator who will prepare a list of timely topics and issues. However, we strongly encourage participants to prepare their own list of issues and topics to be discussed amongst the group. This is an excellent opportunity to learn how others in the industry are addressing matters of similar interest and concern.
Lee D. Augsburger, CSCP, Prudential Financial, Inc.

10:15am – 11:30am :: WORKSHOP SESSION II
II(a) BD – Current Challenges for the Chief Compliance Officer (Small Firms)
• Survival tips for “rapid-fire” rulemaking and enforcement
• Leveraging your resources
• Vetting products and services
• Importance of risk management in your compliance program
• Examining compliance priorities in a rapidly changing environment
Jane E. Bates, Global Financial Services LLC
Dean M. Jeske, Foley & Lardner LLP

II(b) BD – Current Challenges for the Chief Compliance Officer (Large Firms)
• Survival tips for “rapid-fire” rulemaking and enforcement
• Vetting products and services for committee approval
• Importance of risk management in your supervisory system
• Senior management expectations and how to manage up
• Defining the roles of Supervision and Compliance
Thomas J. McGonigle, Murphy & McGonigle, P.C.
Kathleen D. VanNoy-Pineda, LPL Financial
Kenneth L. Wagner, William Blair & Company, LLC

II(c) IA – Risk Management
• How to identify key risks in an evolving business and regulatory environment
• Who should be involved in the identification process
• Rating and managing risks once they are identified (use of heat maps and statistical data)
• How to structure an effective risk management program
• How to effectively communicate with regulators about identified risks and mitigation thereof
Martha J. Matthews, Bennett Butler, LLC
Janaya Moscony, SEC Compliance Consultants, Inc.

II(d) IA – Portfolio Valuation
• Overview on SEC requirements for valuations and managers’ responsibilities
• Policies, practices and oversight – how to develop, review and conduct forensic testing on valuation
• How to derive a fair market valuation on hard-to-value securities
• Sources for valuing fixed income and hard-to-price securities
• What accounting firms will consider when auditing valuations derived from the firm and other third party sources
T. Gregory Reymann, II,Transamerica Asset Management, Inc.
Timothy M. Simons, CSCP, Ashland Compliance Group LLC

II(e) GI – Due Diligence on Sub-advisers, Vendors, and New Products
• Regulatory obligations and standards of due diligence
• Internal versus external (third-party) review
• Due diligence checklists, monitoring and documentation
• How to perform due diligence and identify red flags
James B. Adelman, Commonwealth Financial Network
Michelle L. Jacko, CSCP, Core Compliance & Legal Services, Inc.
David C. Prince, Stephens Investment Management Group, LLC

II(f) HF – Building Compliance Around Your Fund Documents
• The PPM: monitoring risks, conflicts, investment strategy and marketing materials
• The LPA: LP Rights, “material changes” and exercise of discretion by the GP
• Subscription documents: classifying investors, investor reps and warranties, updating information from investors
• Side Letters: disclosure, common terms, investor-specific requests, fiduciary commitments, monitoring for compliance
Helane L. Morrison, Hall Capital Partners LLC
Mark D. Whatley, Howard Rice Nemerovski Canady Falk & Rabkin, A Professional Corporation
Stacie L. Yates, Proctor Investment Managers

LAB 1: BD – Outside Business Activities
• Regulatory guidance and evaluation criteria
• Supervisory techniques including bank and account statement review, and electronic communications surveillance
• Monitoring the interaction between broker-dealer activity and approved outside business activities
• Analyzing what you have found: are you responsible?
• A violation occurred, now what?
Jennifer Woods Burke, AXA Equitable
Ronald H. Filler, New York Law School Center on Financial Services Law
Ron Gorgen, Edward D. Jones & Co., L.P.
Peter von Maur, RBC Capital Markets Corporation

LAB 2: IA – Writing an ADV for the New Regulatory Environment
• Effective ADV preparation
• Understanding the questions and past responses
• Reassess business lines
• Disclosures – is less more?
• Best practices, periodic reviews and materiality
Patricia E. Flynn, INTECH
Deborah A. Lamb, CSCP, McKinley Capital Management, LLC
Michael L. Sherman, Dechert LLP

ROUNDTABLE: GI – Idea Exchange for Managing Compliance with Budget Constraints
Rachel Buie, True North Advisors

11:50am – 12:30pm :: Keynote
Carlo V. di Florio, U.S. Securities and Exchange Commission
Office of Compliance Inspections and Examinations – OPEN

12:30pm – 12:50pm :: Break

12:50pm – 2:30pm :: Lunch
Interview with Erin Arvedlund, moderated by David Lui, FAF Advisors/First American Funds (from 1:30pm to 2:15pm)

2:30pm – 4:00pm :: GENERAL SESSION
IA Regulatory Panel – OPEN
• Developments in the examination process
• Hot substantive examination topics
• ADV II?
• Pay-to-Play?
• Enforcement initiatives
Sarah Bessin, SEC
Steven W. Hansen, Bingham McCutchen LLP
Robert B. Kaplan, SEC
John H. Walsh, SEC*
*Invited + pursuing authorization

BD Roundtable: Problem Producers: Investigating Conduct and Steps to Limit Exposure to the Firm
Scott Gilbert, UBS Financial Services, Inc.
Steven Youhn, Lincoln Financial Network

4:15pm – 5:45pm :: GENERAL SESSION
BD Regulatory Panel – OPEN
• Current and future regulatory focus
• Hot topics
• What is expected of compliance?
• Best practices ideas
• Changes in the industry
Robert W. Cook, SEC*
John H. Walsh, SEC*
Harry J. Weiss, Wilmer Cutler Pickering Hale and Dorr LLP
*Invited + pursuing authorization

HF Regulatory Panel – OPEN
• Enforcement priorities:SEC’s Asset Management Unit
• Exam priorities
• State and FINRA priorities affecting hedge funds: IA registration and BD private offering
James Capezzuto, SEC*
Bruce Karpati, SEC*
David W. Porteous, Ulmer & Berne LLP
*Invited + pursuing authorization

IA Roundtable: Recent Experiences with Regulatory Exams
Kristin Cuene, U.S. Bancorp Fund Services, LLC

TUESDAY, November 2, 2010
8:00am – 9:15am :: WORKSHOP SESSION III
III(a) BD – Insurance and Annuities
• Suitability isn’t just for securities anymore: NAIC model for fixed annuities
• Life settlements, viaticals, premium financing
• Insurance market conduct issues – free lunch seminars, seniors
• The difference between a license, an appointment, and a registration
• Supervision of registered representative insurance agents
Kenneth I. Daniels, Compliance & Litigation Consulting
Jerry C. Danielson, Lincoln Financial Group

III(b) BD – An Overview of FINRA Regulatory Notices Issued During the Prior 12 Months
• An overview of recent FINRA regulatory notices
• Stay current on recent regulatory notices
• Learn about current and pending rule proposals
• Hear about the status of the FINRA Rule reconciliation process
Robert C. Errico, Former FINRA Executive VP, Member Regulation
Nina S. McKenna, Cetera Financial Group
Holly H. Smith, CSCP, Sutherland

III(c) IA – Acting as a Subadviser
What You Should Know (Upstream Due Diligence)
• Registrations, exemptions, potential conflicts, litigation, solvency
• Contractual language and its implication on your operations
• Interpretation of investment discretion
• Reports, certifications and on-site visits
• Prospectus and offering document disclosure language
Patricia E. Flynn, CSCP, INTECH
Elizabeth M. Knoblock, Mayer Brown LLP

III(d) HF – Legislative Reform and Regulatory Developments Affecting Hedge Fund Managers (without the Regulators)
• New rulemaking and proposed federal and state legislation affecting Hedge Funds
• Investment fund emphasis by the SEC, CFTC, states, FINRA and NFA
• International developments including the AIFM directive
• Hot topics including asset valuation, side pockets, short selling, Reg M
Katherine Addleman, Haynes and Boone, LLP
Adam J. Reback, J. Goldman & Co., L.P

III(e) GI – Social Media and Electronic Communications
• Regulatory guidance and common deficiencies
• New and emerging technologies and their challenges
• Best practices and supervision solutions for social networking
• Managing, capturing, and monitoring social networking sites
• Effective policies and procedures
Ivan B. Knauer, Pepper Hamilton LLP
David M. Sobel, Abel/Noser Corp.
Tracy Webb, CSCP, Office of the New York State Comptroller

III(f) GI – Training Ideas at a Reasonable Cost – OPEN
• What’s your approach? Risk, requirements, random
• Tools and tricks of the trade
• The perfect training model for you
• How important is effective facilitation, interaction and expertise?
• Vendor considerations
Ndenisarya M. Bregasi, K&L Gates LLP
Janette L. Filbert, Prudential Financial, Inc.
Michele F. Lipschultz, Thrivent Financial for Lutherans

LAB 3: IA – Compliance Testing and Risk Assessments (Small Firms)
• Conducting an annual risk assessment and identifying risks
• Testing the effectiveness of policies, procedures, and internal controls
• Sampling techniques and use of limited resources
• Compiling an action plan and sharing analysis
• Reporting and follow-up processes and procedures
Rachel Buie, True North Advisors, LLC
Holly Butson, Nationwide Funds Group
Lisa L. Tharpe, Foley & Lardner LLP
Pamela K. Ziermann, CSCP, Dougherty Financial Group LLC

LAB 4: BD – Compliance Testing and Conducting Risk Assessments (Large Firms)
• Defining the scope of risk assessments and testing
• Risk and control self assessment (RCSA) frameworks
• Sampling techniques and the use of technology
• Compiling an action plan and sharing analysis
• Reporting and follow-up processes and procedures
Norman L. Ashkenas, Fidelity Investments
Richard M. Nummi, Nummi & Associates, P.A.
Cathleen Seneca, E*TRADE Clearing

ROUNDTABLE: BD and Dual Registrants - Recent Experiences with Regulatory Exams

ROUNDTABLE: HF – Top Management Support: What has Worked for You?

9:30am – 10:45am :: WORKSHOP SESSION IV
IV(a) BD – Enforcement Workshop
• Key issues in the investigative process
• Recent changes in SEC and SRO enforcement processes
• Deciding whether to settle or litigate
• New SEC and FINRA cases – lessons to be learned
A. Brad Busscher, Incapital LLC
Ben A. Indek, Morgan, Lewis & Bockius LLP

IV(b) BD – Regulatory Developments Affecting Broker-Dealers without the Regulators
• How to prepare to implement new rules
• Registration of back office personnel
• DTC suspensions of actively traded securities
• Ratings and risk disclosures
• Beneficial owners of subaccounts
David A. DeMuro, O’Melveny & Myers LLP
Harry J. Weiss, Wilmer Cutler Pickering Hale and Dorr LLP

IV(c) IA – Addressing New Issues In Regulatory Examinations (Small Firms)
• Building processes to address top exam deficiencies
• How to demonstrate your compliance program is dynamic
• Addressing the latest rules, such as the focus on custody, due diligence and conflicts
• How to respond to a deficiency letter or deal with the enforcement process
• Serving as your firm’s regulatory interface during the exam and the exit interview process
Michelle L. Jacko, CSCP, Core Compliance & Legal Services, Inc.
Judy B. Werner, Gardner Lewis Asset Management, LP

IV(d) IA – Addressing New Issues In Regulatory Examinations (Large Firms)
• Building processes to address top exam deficiencies
• How to demonstrate your compliance program is dynamic
• Addressing the latest rules such as the focus on custody, due diligence and conflicts
• Serving as your firm’s regulatory interface
• How to respond to a deficiency letter or deal with the enforcement process
James F. McGuire, Fidelity Investments
John J. Schneider, Navigant Consulting, Inc.

IV(e) GI – Regulatory Differences between Canada and the U.S. – OPEN
• Comparing U.S. and Canadian rules, side by side
• Firm and representative registration
• Regulators (Federal, Provincial, State and SRO)
• Supervision (broker-dealers and investment advisers)
• Significant regulatory initiatives – compare and contrast
• Common mistakes made in exporting WSPs
Torstein M. Braaten, CSCP, ITG Canada
Lynn M. McGrade, Borden Ladner Gervais LLP
M. Catherine Tuckwell, Scotia Asset Management L.P.

IV(f) GI – Escalation and Reporting Practices to Senior Management and Boards: What Type of Information and Reports are Effective
• What should be escalated
• When and to whom to report
• How to present the information
• Practical case study of a reportable event
Louis Dempsey, Renaissance Regulatory Services, Inc.
Chih-Pin Lu, Raymond James Financial, Inc.
Manoj “Tito” Pombra, Matthews International Capital Management, LLC

LAB 5: BD – Writing WSPs, Drafting and Communicating - Where to Start
• Templates to use and dangers thereof
• Matching your WSPs to your supervisory system
• Maintenance: hard copy vs. electronic
• Be realistic – don’t overcommit!
Glen P. Barrentine, Cadwalader, Wickersham & Taft LLP
Ken Bell, Cetera Financial Group
Pamela S. Fritz, CSCP, MWA Financial Services, Inc.
Alan J. Herzog, Wells Fargo Investments, LLC

ROUNDTABLE: GI – About CSCP
(Certified Securities Compliance Professional)
Deborah A. Lamb, CSCP, McKinley Capital Management, Inc.
Lisa Nepi, NSCP, Director of Certification
Timothy M. Simons, CSCP, Ashland Compliance Group LLC

11:00am – 12:30pm :: General Session
A Job Description for the Compliance Officer – OPEN
• How a compliance officer’s job differs from that of other control functions
• The benefits and burdens of various reporting protocols
• The compliance officer as a supervisor
• How to measure good performance by a compliance officer
Richard D. Marshall, Ropes & Gray LLP
Lori A. Richards, PricewaterhouseCoopers LLP

12:30pm – 1:40pm
LUNCH and NSCP Business Meeting – OPEN

1:40pm – 2:55pm :: WORKSHOP SESSION V
V(a) BD – Addressing New Issues In Regulatory Examinations (Large Firms)
• How to prepare for and survive an exam, what examiners look for
• Key differences among types of SEC and FINRA exams
• How to demonstrate your compliance program is dynamic
• What to relate to the examiners while they’re on-site and the exit interview
• How to best respond to a deficiency letter
Ethan H. Cohen, Schiff Hardin LLP
David E. Fischer-Lodike, Edward D. Jones & Co., L.P.

V(b) BD – Addressing New Issues In Regulatory Examinations (Small Firms)
• How to prepare for and survive an SEC exam, what examiners look for
• Key differences among types of SEC and FINRA exams
• How to demonstrate your compliance program is dynamic
• What to relate to the examiners while they’re on-site and the exit interview
• How to best respond to a deficiency letter
Thomas K. Potter, III, Burr & Forman, LLP
Wesley L. Ringo, J.J.B. Hilliard, W.L. Lyons, LLC

V(c) IA – Compliance in the Very Small Firms: 20 People or Less
• Managing compliance when it can’t operate independently
• “Consult your legal department for advice” when you don’t have one
• Finding balance while wearing multiple hats
• Maximizing resources and outsourcing
• Getting senior management on board with a compliance program
Miriam Lefkowitz, Shufro, Rose & Co., LLC
Timothy M. Simons, CSCP, Ashland Compliance Group LLC

V(d) GI – Gifts, Entertainment, Contributions, and Donations
• Regulatory considerations for IAs and BDs, including conflicts regarding these items
• What should be in your written policies and procedures
• Surveillance and coordination efforts
• What can be given/received: by whom and to whom
• LM-10 reporting obligations
Kerry E. Cunningham, Cetera Financial Group
Jason Rein, Deutsche Investment Management Americas Inc.
Michael D. Wolk, Bingham McCutchen LLP

V(e) GI – Legal Officer vs. Compliance Officer
• Role definition: what does it mean?
• Setting expectations and providing clarity to your company and clientele
• What Pfizer tells us about the conflict
• Compliance officer’s duty of care: Caremark
• Suggestions for a sensible approach to managing a dual role
Joseph M. Mannon, Aurora Investment Management L.L.C.
Ann Oglanian, ReGroup, LLC
Timothy B. Parker, Matthews International Capital Management, LLC

V(f) GI – Due Diligence Considerations for Clients, Sponsors and Money Management Firms
• Due diligence – what does it mean and what are SEC and client expectations?
• How to conduct due diligence on investment managers and third-party service providers
• Developing due diligence policies and procedures
• Emerging regulatory trends and lessons learned from recent scandals
Joseph A. Hanczor, Spectrum Asset Management, Inc.
Mark Margiotta, E*TRADE Financial
Sidney Wigfall, Barge Consulting, LLC

V(g) IA – Regulations (without the Regulators)
• Developments in the examination processes: the firm perspective
• Changes in substantive examination focus
• Coping with new and anticipated rules
Steven W. Hansen, Bingham McCutchen LLP
David H. Lui, FAF Advisors / First American Funds

ROUNDTABLE: GI: Insurance Compliance
Jerry C. Danielson, Lincoln Financial Group
Krien VerBerkmoes III, VALIC Financial Advisors, Inc.

ROUNDTABLE: BD: Reviewing Research Reports

3:10pm – 4:25pm :: WORKSHOP SESSION VI
VI(a) BD – Identification and Management of Conflicts of Interest
• Principal types of conflicts of interest (Firm vs. Client; Employee vs. Client; “Preferred Client” vs. other Clients)
• Procedures for identifying and clearing conflicts of interest
• Conflicts of interest and impact on fiduciary and confidentiality obligations
• Monitoring and preventing conflicts of interest
Richard T. Chase, RBC Capital Markets Corporation
Amy N. Kroll, Bingham McCutchen LLP

VI(b) BD – Anti-Money Laundering
• Risk assessment and policies and procedures
• Firm needs compared to regulatory requirements
• Systems versus manual reviews
• Assigning responsibility
James E. Ballowe, Jr., E*TRADE Brokerage Holdings, Inc.
William E. Donnelly, Murphy & McGonigle

VI(c) IA – The Renewed Importance of the Custodian in the Post-Madoff World
• Custody reforms in light of Madoff
• Qualified custodian; independence
• Accountants’ role
• Practical considerations-client relations
• Industry updates since March 2010 inception date
Leo Karwejna, Prudential Investment Management, Inc.
Michael Wise, Lawrence, Kamin, Saunders & Uhlenhop, LLC

VI(d) GI – The Use of Complex Securities
• Introduction to common complex securities
• Investment policy statements and the use of these securities
• The effectiveness of disclosure
• Monitoring complex securities from a risk perspective and valuation issues
• Perspective – know your counterparty
Charles H. Field, Allianz Global Investors Capital
John Hunt, Goodwin Procter LLP

VI(e) GI – International Compliance Concerns
• Registering in a foreign jurisdiction
• Impact of global policies and procedures
• Impact of MiFID – Markets in Financial Instruments Directive
• Regional supervision (regulatory differences)
• Business travel concerns
Jason J. Linde, Pyramis Global Advisors

VI(f) HF – Emerging Compliance Trends (Fund Managers and FoF Managers)
• Prime Brokers: what’s in your agreement? – lessons from Lehman
• Custodial arrangements: implementation of procedures and controls in response to new custody rule requirements
• Trading issues: short selling restrictions and compliance with Regulation M
• Solicitation arrangements: avoiding pitfalls in marketing funds through placement agents and other distribution channels
• Insider trading: emerging enforcement trends, recommended compliance policies, training and testing
Barry Y. Greenberg, Akin Gump Strauss Hauer & Feld LLP
Michael C. Neus, Perry Capital LLC

ROUNDTABLE: IC – Recent Experiences with Regulatory Audits

ROUNDTABLE: GI – Employment Matters (Background Checks, Conflict Checks, Exit Interviews)

4:40pm – 5:55pm :: WORKSHOP SESSION VII
VII(a) BD – Best Execution for Broker-Dealers
• Regulatory requirements and policies and procedures made simple
• Partnering with a third party vendor
• Challenges and obligations of an introducing broker
• Mark-ups and fixed income best execution obligations
• Documenting and measuring (i.e. 605/606 reporting and best execution committees)
A. Duer Meehan, PricewaterhouseCoopers LLP
Andrew C. Small, Scottrade, Inc.

VII(b) IA – Investment Adviser Trade Desk Oversight
• Policies and procedures you should have
• Monitoring trading activity and controls through testing
• The review of best execution
• An overview of the various systems used on a trading desk
• What to monitor in different products (equities, bonds, derivatives, currency trading)
Aaron D. De Angelis, Spring Mountain Capital, LP
Joseph D. McDermott, CSCP, Alaric Compliance Services, LLC

VII(c) IA – Identification and Management of Conflicts of Interest
• Overview of the Transfer Agent Rules and SEC Exam Focus Areas
• Security and Privacy
• Electronic Signatures and Records
• Lost Shareholder Compliance
• Cost Basis Reporting
Scott E. Richter, JPMorgan Chase & Co.
Jeffrey M. Squires, Vista360, LLC

VII(d) GI – Privacy Considerations and Safeguarding Client Information – Regulation SP Amendments
• Regulatory changes
• The impact - FACT Act and red flag rules
• Information security procedures and safeguards
• Identity theft and privacy issues - identify, investigate and report
• Practical advice: privacy assurance and actions when there’s a breach
Mike McVoy, U.S. Bancorp Fund Services, LLC
Mark H. Nicholas, Cetera Financial Group, Inc.
Scott N. Sherman, Baker, Donelson, Bearman, Caldwell & Berkowitz, PC

VII(e) IC – Regulatory Exposure in Transfer Agent Issues
• Overview of the Transfer Agent Rules and SEC Exam Focus Areas
• Security and Privacy
• Electronic Signatures and Records
• Lost Shareholder Compliance
• Cost Basis Reporting
Angela M. Mitchell, Capital Research and Management Company
Nicholas J. Prokos, ACA Compliance Group

VII(f) GI – Political Contributions, Procurement, Placement Agents & Lobbying: State & Federal Rulemaking Updates: Pay to Play Rules
• Impact on broker-dealers
• Impact on investment advisers
• Pre-clearance procedures
• Compliance impact on new regulation – how do you keep track of it all?
Thomas D. DeVita, MKP Capital Management, L.L.C.
David C. Franceski, Jr., Stradley Ronon Stevens & Young, LLP
Scott C. Kursman, Citi

LAB 6: BD – Advertising – Beyond the Definitions
• Brief overview of current advertising issues and regulations
• Hands-on review of FINRA filed marketing pieces (acceptable and unacceptable examples)
• Creative conflict resolution and negotiations with internal business partners
• Maintaining effective and positive relationships with FINRA advertising reviewers
• How to be proactive with sales practices and mitigate risk to your firm and internal business partner
Lisa Clifford, Lincoln Financial Network
S. Kendrick Dunn, Pacific Select Distributors, Inc.
Alexander C. Gavis, Fidelity Investments
Lawrence P. Stadulis, Stradley Ronon Stevens & Young, LLP

LAB 7: BD – Compliance Testing and Conducting Risk Assessments (Small Firms)
• Conducting an annual risk assessment and identifying risks
• Testing the effectiveness of policies, procedures and internal controls
• Sampling techniques and use of limited resources
• Compiling an action plan and sharing analysis
• Reporting and follow-up processes and procedures
Francois Cooke, ACA Compliance Group
Jim Downing, Cheevers & Company
Pamela K. Ziermann, CSCP, Dougherty Financial Group LLC

ROUNDTABLE: Resources Available to Compliance Professionals
Jennifer Woods Burke, AXA Equitable

ROUNDTABLE: Top Management Support: What has Worked for You?

WEDNESDAY, November 3, 2010
8:00am – 9:15am :: WORKSHOP SESSION VIII
VIII(a) BD – Compliance in the Very Small Firms: 20 People or Less
• Managing compliance when it can’t operate independently from the rest of the organization
• “Consult your legal department for advice” when you don’t have one
• Finding balance while wearing multiple hats
• Maximizing resources
• When is outside help needed
Mary E. Cobb, M. E. Cobb Consulting
Miriam Lefkowitz, Shufro, Rose & Co., LLC

VIII(b) BD – Institutional Sales and Trading
• What documents are required to open an account
• AML requirements
• Adequate review process for supervisors
• Are there “know your customer” responsibilities?
• Compliance oversight/testing the trade blotter
Daniel M. Gallagher, Jr., Wilmer Cutler Pickering Hale and Dorr LLP
Christopher J. Mahon, Deutsche Bank Securities Inc.

VIII(c) IA – Best Execution for Investment Advisers
• Regulatory requirements and obligations made simple
• Third party vendor monitoring solutions
• Structure of a best execution committee
• Know what activities your desk engages in
• Best execution process, policies, and supervision
• Soft dollar considerations and the impact on best execution
David Held, AXA Investment Managers, Inc.
Charles Lerner, Fiduciary Compliance Associates LLC

VIII(d) IA – ERISA & Fiduciary Compliance – Beyond the Basics
• The Pension Protection Act of 2006: its impact on advisers and brokers
• Recent DOL interpretative bulletins
• Form 5500 reporting requirements that impact advisers and brokers
• ERISA bonding requirements
• Unique issues when your clients are 401K plans, IRAs, and Union-Taft-Hartley Plans
Jason C. Roberts, Reish & Reicher, A Professional Corporation
Phyllis E. Klein, CAPTRUST Financial Advisors

VIII(e) HF – Compliance Challenges Based on Investor Class
• High net worth individuals: accredited investors and qualified client thresholds
• 401(k) and benefit plan investors: requirements and on-going monitoring
• Institutional investors: qualified purchaser and eligibility status
• Knowledgeable employees: who qualifies
• “Foreign” investors and U.S. tax exempts: your offshore fund
• Feeder funds: avoiding attribution
David P. Mathews, Altegris Investments, Inc.
Margaret R.A. Paradis, Baker & McKenzie LLP

VIII(f) BD/IA – Dual Registrant Issues
• How to apply IA Rules to a BD (custody, code of ethics, principal trades)
• How to apply BD rules to an IA (suitability)
• Information barriers and managing material non-public information
• Recordkeeping
• Supervision
Jeffrey O. Himstreet, Ameriprise Financial, Inc.
Brian A. McCormack, Davenport & Company, LLC
Steven W. Stone, Morgan, Lewis & Bockius LLP

LAB 8: IA – Compliance Testing and Risk Assessments (Large Firms)
• Defining the scope of risk assessments and testing
• Risk and control self assessment (RCSA) frameworks
• Sampling techniques and the use of technology
• Compiling an action plan and sharing analysis
• Reporting and follow-up processes and procedures
Timothy Knierim, Prudential Investment Management
Joseph M. McGill, UBS Global Asset Management
Robert A. Nisi, PricewaterhouseCoopers LLP

Roundtable: GI – Creating a Culture of Compliance
Patrick J. Caulfield, Lincoln Financial Distributors, Inc.

Roundtable: IC – Money Markets and other Investment Company Issues – 2a-7

9:35am – 10:50am :: WORKSHOP SESSION IX
IX(a) BD – Trading Practices Issues – Mapping the Different Systems and How They Interact
• Explaining all the different systems (OATS, FIX, TRACE, RTRS, BRASS)
• How information is reported to regulators
• How to use the information provided to conduct supervisory reviews
• Municipal and equity reporting
• How to use report cards
• NIIDS
Nicholas T. Chapekis, Wells Fargo & Company Law Department
Julian Rainiero, Bracewell & Giuliani LLP

IX(b) BD – Establishing Effective Records Management in Accordance with Rules and Using Technology
• Building a strong records management system
• Ensuring that you can produce the required records in an exam crunch
• Using electronic record storage
• Should you keep hard copies?
• Prudent destruction policies
Harry Chaffee, CSCP, Renaissance Regulatory Services, Inc.
Gigi Szekely, Eaton Vance Management

IX(c) IA – Commission Sharing Agreements vs. Traditional Soft Dollar Agreements: What has Changed?
• Soft dollars - what are they really?
• SEC guidance and discussion of the safe harbor
• What is commission sharing and which services qualify?
• How to monitor?
• What records should you have?
Steven B. Boehm, Sutherland
Toni Evans, TD Asset Management Inc.

IX(d) GI – Fraud and Misappropriation, Detecting and Preventing
• How to protect against misappropriation, insider trading, and front running
• Detecting market manipulation activities and rumor mongering
• Fraud prevention techniques and education on how to recognize, react, and report fraud (keys to prevention and detection, i.e. segregation of duties)
Diane P. Novak, Toyota Financial Services
Tracy Webb, CSCP, Office of the New York State Comptroller
Bernerd E. Young, MGL Consulting Corporation

IX(e) GI – Foreign Corrupt Practices Act & International Anti-Bribery Laws
• Overview of the applicable regulations
• Firm liability
• Senior officer liability
• Overview of recent enforcement cases
• Best practices for FCPA compliance programs
Mark T. Carberry, UBS Wealth Management Americas
Mark A. Egert, Crowell & Moring
Susan K. Wold, Janus Capital Group, LLC

IX(f) IC – Mutual Fund Governance
• Implications of proposed governance reforms on investment companies
• Harris v. Jones – much ado about nothing?
• SEC response to Reserve Primary Fund’s “breaking the buck”
• Target date funds issues
• Fund investments in derivatives
Timothy J. Knierim, Prudential Investment Management
Alison C. Ryan, Dechert LLP

IX(g) GI – Ethics
• Do we really need formal Ethics programs?
• What does a formal Ethics program look like?
• Who should “own” the Ethics responsibility?
• What unique Ethics challenges do financial services companies face?
Lee D. Augsburger, CSCP, Prudential Financial, Inc.
Theodore J. Sawicki, Alston & Bird LLP
Krien VerBerkmoes, III, VALIC Financial Advisors, Inc.

LAB 9: IA – Advertising for Investment Advisers
• Advertising vs. marketing
• Importance of GIPS compliance and/or verification
• No-action letters (the classics and the new)
• Websites, social media
• Responding to RFP questions
Michael S. Caccese, K&L Gates LLP
Jason M. Gordon, Prudential Investment Management

ROUNDTABLE: GI – Writing BCP Plans

11:00am – 1:00pm :: Boxed Lunch

11:10am – 12:40pm :: General Session
Solving the Puzzle of “Regulatory Reform” – What Does it Mean for Your Firm and Your Future
Howard Kramer, Schiff Hardin LLP
Thomas P. Lemke, Legg Mason
Christopher Lewis, Edward D. Jones & Co., L.P.
Charles V. Senatore, CSCP, Fidelity Investments
Michael K. Wolensky, Schiff Hardin LLP