Hosted by C&L Society's Future Leaders
Sponsored by McGuire Woods
•Navigating challenges and hurdles that can lead to advancement
•Influential leadership: Goal setting and embracing leadership potential
•Effective communication and how to “make the ask”
•The importance of establishing and embracing a Professional Network
•Career growth and when to make internal/external career moves
•Finding balance to avoid burnout
•Making the most of the SIFMA C&L Conference as a Future Leader/New participant
MODERATOR
Taryn Huget, LPL Financial
SPEAKERS
Mojan Foroutan, Interactive Brokers
Ira Hammerman, Bates Group
The Alfred J. Rauschman Award is presented annually to a candidate who has demonstrated significant contributions to the compliance and legal communities, promoted open communications among industry practitioners to share ideas and issues, fostered dialogue and communications with regulators and dedicated their career to the securities industry.
•Managing Conflicts of Interest
•Protection of Confidential / MNP Information
•Issues in Connection with Securities Offerings
•Development of AI Usage and the Compliance Considerations Raised
MODERATOR
Darian Futrell, Goldman Sachs
PANELISTS
Jonny Banks, Deutsche Bank
Joe Corcoran, SIFMA
Jennifer Morton, Shearman & Sterling
Chris Auletta, UBS
•What is a crisis?
•Day 1 decision making – immediate action items and long-term impact
•After Day 1 – proper implementation of response plan and stakeholder management
•Potential pitfalls
•Post Crisis - lessons learned and remediation
MODERATOR
Jackie Barnao, UBS
PANELISTS
Navit Jackson, Charles Schwab
Nga Nguyen, Fidelity
Steve Peikin, Sullivan & Cromwell
•SEC Proposal – Rules to Include Certain Significant Market Participants as ‘Dealers” or “Government Securities Dealers”
•New Exchange Act Rule 10c-1 (Reporting Securities Loans)
•New Exchange Act 13f-2 (Reporting Short Positions)
•Full-Paid Lending Developments (including Enforcement Actions)
•T+1 Trade Settlements
•Trading in Connection with Unregistered Block Transactions
•SEC 206(4)-2 - Adviser’s Act Custody Rule Proposal (Implications to PB Clients)
•SEC Rule 15c3-3 – Daily Computations and Implications for Treasury Clearing Rules
MODERATOR
Gary Distell, Guggenheim
PANELISTS
Kevin Campion, Sidley Austin
Eric Colchamiro, Goldman Sachs
Alison Higgins, Barclays
Michael Macchiaroli, SEC
•Ethical traps in internal investigations
•Obligations for in-house counsel
•Navigating common interests and multi-party representations
•Ethical issues in self-reporting
•Hot topics
MODERATOR
Barry Rashkover, Sidley
PANELISTS
Davin Kornblau, Dentons
Jesse Lawrence, Pershing
Matt Morningstar, LPL
Stephanie Shuler, JP Morgan
•Approaches to regulatory engagement generally; what do firms and regulators find effective
•Key takeaways from the SEC and FINRA annual reports, including new and notable priorities
•The nuts and bolts of effective regulatory exam management, such as preparation and quality control
•Managing exam findings and enforcement risk, including best practices for responding to issues and related self-reporting considerations
MODERATOR
Matt Applebaum, LPL
PANELISTS
Jonathan Gelman, Interactive Brokers
Ariel Gursky, Morgan Lewis
Scott Murray, Wells Fargo & Co.
Mike Rufino, SEC
•The Political Environment and State Securities Laws
•Noteworthy Enforcement and Litigation Trends
•Duties, duties, duties!: The latest on fiduciary standards
•Hot Topics in Regulation
MODERATOR
Pam Everhart, Fidelity
PANELISTS
Marni Gibson, NASAA Kentucky
Michelle Goldstein, Morgan Stanley
Claire McHenry, NASAA Nebraska
Ronak Patel, Bressler
This session is also available on Monday afternoon (see MC)
•Developments in aiding and abetting liability
•On the heels of ESG enforcement actions—what is expected on the litigation front
•What is a security under Reves and Howey—syndicated term loans and crypto
•Section 11 standing and traceability; Pirani v. Slack
•Developments in Delaware
•Event driven litigations continue
•Section 303 and the Supreme Court’s review in Macquarie
•The long journey ends for Goldman—CDO class action decertified
•Predictions in the AI landscape
MODERATOR
Mimi Reisert, Citi
PANELISTS
Brad Karp, Paul Weiss
Adam Hakki, Shearman & Sterling
Sharon Nelles, Sullivan & Cromwell
Gianluca Morello, Raymond James
•Dealing with Evolving Cyber Threats (Shifting from Encryption to Data Extortion to Extreme Harassment)
•Proposed New SEC Rules for Broker-Dealers and Registered Investment Advisers & Implemented New SEC Rules for Publicly-Traded Companies
•Bringing Together all Incident Response Vendors (Forensic, Negotiation, and Crisis Communication)
•Internal Escalation Policies & Procedures
•Best Practices & Avoiding the Pitfalls
MODERATOR
Amy Purcell, Vanguard
PANELISTS
Gabrielle Guzman
Erez Lieberman, Debevoise
Hillary Russell, LPL
•Care Obligation and Reasonably Available Alternatives – Regulatory Perspectives
o SEC
o FINRA
o NASAA
•Selecting Reasonably Available Alternatives - Practical Tips from the trenches
•Examinations and Enforcement Trends
MODERATOR
Stephanie Monaco, Mayer Brown
PANELISTS
Abby Armstrong, Commonwealth
Evan Charkes, Bank of America
Liz Lyons, Edward Jones
Leslie Van Buskirk, NASAA Wisconsin
•The SEC’s Division of Examination priorities and rulemakings with respect to conflicts of interest
•The SEC’s and FINRA’s interest in artificial intelligence including the SEC’s predictive data analytics proposal
•Remarks by the SEC’s Director of the Division of Enforcement on compliance
•Concerns regarding the rapid pace of regulation
•Considerations in structuring a compliance function
MODERATOR
Elad Roisman, Cravath
PANELISTS
Jacqueline Angell, Vanguard
Christa Graverson, Baird
Steven LaBarbera, Raymond James
Andy Small, RBC
•State of the Regulatory Landscape -- Regulatory and Supervisory Environment following March/April 2023 Bank Failures.
•Capital and Liquidity Regulatory Proposals – Basel III; Fundamental Review of the Trading Book; and Pending New Liquidity Proposal
•Digital Assets and Crypto-Currency Activities -- Post-Crypto Freeze Regulatory Climate
•Preemption, Chevron Deference, and Fair Access Developments
MODERATOR
Curtis Tao, Citi
PANELISTS
Jillian Eng, JPMorgan
Lena V. Kiely, Allen & Overy
Jennifer Knox, Wells Fargo
Carter McDowell, SIFMA
•Generative A.I. in the workplace…Are you ready for it?
•Supreme Court decision on Affirmative Action case, impact on DEI programs
•Employee Agreements, latest developments
•Unionization issues
MODERATOR
Lisa Bertain, Edward Jones
PANELISTS
Carole Miller, Bressler
Melissa Gold, BNY Mellon
Elizabeth Moum, Greenburg Traurig
•Equity market structure rulemakings and regulatory areas of focus
•Prevalence of Reg NMS low-priced securities and related issues
•CAT funding
•Proposed expanded definitions of “Exchange” and “Dealer”
•Proposed changes related to resilience and cybersecurity: Reg. SCI, Rule 10, Form SCIR, and related requirements for “Covered Entities” and “Market Entities”
•Best practices/approaches to handling exchange or internal system outages
MODERATOR
Krista Ryan, Fidelity
Mahlet Ayalew, JP Morgan
Ellen Greene, SIFMA
Nick Losurdo, Goodwin
Emily Pierce, RBC
•Rulemaking Update
•Recent and Upcoming Rule Implementation
•CFTC Enforcement
•SEC SBSD Examinations
MODERATOR
Kyle Brandon, SIFMA
PANELISTS
Rosario Chiarenza, Citi
Annie Hsu, Jeffries
Colin Lloyd, Sullivan & Cromwell
Carol McGee, SEC
• Regulatory expectations for risk assessments, monitoring and testing
• Best practices for risk assessments, monitoring, testing, remediation and reporting
• Connecting the dots: leveraging results to inform other processes across the compliance risk management lifecycle
• Roles and responsibilities: organizing execution of your program for maximum effectiveness
• Recent enforcement actions
MODERATOR
Gail Merken, Fidelity
PANELISTS
Daniel Gude, LPL
Sunita Koshy, Edward Jones
Brian Rubin, Eversheds
•Best practices before, during, and after negotiations
•Technology’s impact on negotiations (e.g., virtual negotiations, leveraging alternative intelligence, ethical considerations, etc.)
•Leveraging negotiation skills in litigation, enforcement, contract negotiations, etc.
•Tips for building rapport with opposing counsel
•Who should participate – do you really want/need a third party (e.g., experts, business unit personnel, insurance carriers)?
•Ethical considerations: good faith representations, conflicts of interest, confidentiality, privilege
MODERATOR
David Markowitz, Goldman Sachs
PANELISTS
Akinyemi Akiwowo, Morgan Stanley
Esther Cho, Keesal
Heather Glatter, Apollo
David Jonson, LPL
This session is also available on Monday afternoon (see MC)
•Challenges of 17a-4 compliance in an evolving technological environment
•Policies and procedures necessary to help prevent off-channel communications
•Detection and escalation of potential policy violations
•RIA vs. BD retention requirements
•Lessons learned from recent SEC and CFTC enforcement actions
MODERATOR
Melissa MacGregor, SIFMA
PANELISTS
Amy Longo, Ropes & Gray
Laura Magyar, Patomak Global Partners
•What defines an ultra-high net worth client?
•What unique operational considerations arise when working with UHNW clients?
•How do firms support the global needs of UHNW clients/advisors?
•What types of niche product offerings do UHNW clients seek?
•What AML focus areas are important when working with UHNW clients?
•How do firms work with the "teams" associated with UHNW clients? (e.g. lawyers, tax advisors, etc).
MODERATOR
Aisling Murphy, Edward Jones
PANELISTS
Emily Gordy, McGuire Wood
Elizabeth Hill, LPL
Mike Moran, Charles Schwab
New for 2024!
•What do we mean when we say AI in Financial Services?
•Regulatory and legislative actions impacting AI use
•Risks and Governance Considerations for use of AI at firms
•Use cases for AI in legal and compliance functions
MODERATOR
Megan Powers, Morgan Stanley
PANELISTS
Norm Ashkenas, Robinhood
Gary Goldsholle, Schwab
Peter Isajiw, King & Spalding
Anne Marie Palfrey, Deutsche Bank
New for 2024!
•Navigating enforcement investigations
•Understanding formal action considerations
•Perspectives on charging decisions and sanctions
•Insights into different enforcement leadership approaches and outcomes
MODERATOR
Jessica Hopper, Edward Jones
PANELISTS
George Canellos, Milbank Tweed
Andrew Ceresney, Debevoise
David Meister, Skadden
Susan Schroeder, WilmerHale
•Company Communication Risks
•Best Practices – Capital Markets Activities and Investor Education
•Use of AI by Research, Research Clients and Research Vendors
-SEC Proposed Rule on Predictive Data Analytics
•Issuer Sponsored Research
•ESG Regulatory Updates
•Lessons Learned from Recent Enforcement Cases
MODERATOR
Gleennia Napper, Deutsche Bank
PANELISTS
Marlon Paz, Latham & Watkins
Mark Rhodes, Citi
Phil Shaikun, FINRA
Pamela Torres, Goldman Sachs
This session is also available on Monday morning (see MB)
•Challenges of 17a-4 compliance in an evolving technological environment
•Policies and procedures necessary to help prevent off-channel communications
•Detection and escalation of potential policy violations
•RIA vs. BD retention requirements
•Lessons learned from recent SEC and CFTC enforcement actions
MODERATOR
Melissa MacGregor, SIFMA
PANELISTS
Amy Longo, Ropes & Gray
Laura Magyar, Patomak Global Partners
New for 2024!
•Challenges in Managing the Fast-Moving Global Pace of Regulatory Change Applicable to Cross-Border Financial Services Firms
•Establishing Effective Compliance Programs for “Inbound” Securities Sales and Services to US Persons
•Disclosures, Notifications and Related Requirements and Risks Associated with Cross-Border Securities Activities
•Beyond Securities Laws: US and Foreign Regulatory Concerns Impacting Cross-Border Strategy
MODERATOR
Barbara Stettner, Allen & Overy
PANELISTS
Alison Morpugo, UBS
Danielle Tarasen, Raymond James
Ryan VanGrack, Citadel Securities
•Timing, challenges, and considerations for the plethora of AML-related rulemakings
•2023 FINRA priorities and other regulatory guidance impacting your AML program
•Artificial Intelligence: uses cases and considerations for AML and sanctions programs
•Increased crossover between AML and sanctions: what an AML officer should know
•Best practices for keep your program current and effective
MODERATOR
Bernard Canepa, SIFMA
PANELISTS
Jim Fiebelkorn, Edward Jones
Satish Kini, Debevoise
Adrienne Kosta, Fidelity
Dominic Valentino, Oppenheimer
•The obligations of key compliance personnel and other gatekeepers in ensuring compliance and recent enforcement cases against individuals.
•The increased prioritization of issues associated with cybersecurity, crypto assets, and emerging financial technology particularly involving AI.
•Recent regulatory and enforcement developments relating to a failure to maintain and preserve electronic communications.
•Emerging developments from the SEC’s recent increase in enforcement relating to the whistleblower protection rule.
•Plus, a lightning round on other emerging issues and a discussion of important enforcement practice considerations.
MODERATOR
Alex White, Bank of America
PANELISTS
Marc Berger, Simpson Thacher
Kevin Carroll, SIFMA
Kelly Gibson, Morgan Lewis
Kim Reilly, Raymond James
New for 2024!
•Compliance with and trends in state privacy legislation and regulations;
•SEC and CPPA rulemaking and the impact on the financial services sector;
•Impacts of and privacy issues to consider related to state, federal, and international efforts around automated decision making, AI, biometrics, and surveillance
•The risk landscape and best practices related to digital advertising;
•Privacy considerations when outsourcing operational, service, or other functions to foreign jurisdictions.
MODERATOR
Patrick Chavez, Edward Jones
PANELISTS
Ben Glerum, Interactive Brokers
Anju Khurana, US Bank
Ed McNicholas, Ropes & Gray
•The GC Outlook on Key Issues in 2024: Changing Regulatory Landscape, Crypto, ESG & DEI
•The Responsible Use of AI
•Leading a Team and Advising Through a Crisis
•What GCs look for in Outside Counsel and How They Add Value
MODERATOR
Karen Seymour, Sullivan & Cromwell
PANELISTS
Dan Gallagher, Robinhood
Peggy Ho, Commonwealth
Rob Khuzami, Guggenheim
Jonathan Santelli, Raymond James
New
for 2024!
•Adopting policies relating to FAs with diminished capacity
•Engaging in succession planning for brokers
•Addressing technology concerns relating to aging FAs
•Taking into concerns of small firms and those with different models
•Developing strong supervisory procedures to ensure investor protection
MODERATOR
Ted Snyder, Davis Wright Tremaine
PANELISTS
Jackie Beauprez, DA Davidson
Ornella Bergeron, FINRA
Andrew Hartnett, NASAA Iowa
This session is also available on Monday morning (see MA)
•Developments in aiding and abetting liability
•On the heels of ESG enforcement actions—what is expected on the litigation front
•What is a security under Reves and Howey—syndicated term loans and crypto
•Section 11 standing and traceability; Pirani v. Slack
•Developments in Delaware
•Event driven litigations continue
•Section 303 and the Supreme Court’s review in Macquarie
•The long journey ends for Goldman—CDO class action decertified
•Predictions in the AI landscape
MODERATOR
Mimi Reisert, Citi
PANELISTS
Brad Karp Paul Weiss
Adam Hakki, Shearman & Sterling
Sharon Nelles, Sullivan & Cromwell
Gianluca Morello, Raymond James
•Remote Supervision Location (RSL): Regulatory Guidance and Implementation
•Remote Inspections Pilot: Pre-Pandemic vs Post-Pandemic Lessons Learned
•States’ Concerns and Inspection Rules
•Eligibility, Governance and On-going supervision
•Focus areas for Monitoring and Testing
•Technology Enhancements and Tools
MODERATOR
Tara Gilchrist, LPL
PANELISTS
Bob Cole, Citi
Kosha Dalal, FINRA
Ashley Gauvin, RBC
Tina Samanta, Gibson Dunn
SIFMA Luncheon Tables
Come have lunch with SIFMA’s staff advisors and join a discussion about key issues on our policy agenda. No registration necessary – just look for our tables near the entrance to our general networking luncheons. Seating is first come, first served!
Monday's discussion topics include:
- Equity Markets and Listed Options, with Joe Corcoran and Ellen Greene
- The Basel III Endgame, with Carter McDowell
- Senior Investor Protection, with Marin Gibson
Sponsored by Clifford Chance
MODERATOR:
Karen O'Toole, Fidelity Investments
SPEAKER:
Mary Jo White, Debevoise
This Lunch and Learn will address the evolving risks that ESG litigation poses, particularly for financial institutions. The discussion will cover shareholder derivative lawsuits, 10(b)(5) claims, federal enforcement risk, state parens patriae actions and other state “anti-ESG” enforcement actions.
PANELISTS
Bethany K. Biesenthal, Jones Day
Terri Chase, Jones Day
Neil Rosolinsky, Citizens Financial Group, Inc.
Charlotte Taylor, Jones Day
Lunch & Learn: Off-Channel Communications: How Firms are Responding to a Year of Unprecedented Enforcement
Sponsored by: Smarsh
Financial services firms are faced with a limitless set of choices of communications and collaboration tools to help run their business. From collaborative platforms, social media tools and mobile apps, every firm is seeking to embrace the tools that are familiar and preferred by their clients and employees. However, the processes to allow a new communications tool for business use have never been more complex. Prohibition policies alone rarely work, and the recent regulatory scrutiny over employee use of prohibited networks has raised the risk level to unprecedented levels.
So, how are forward-thinking firms making this permission vs. prohibition decision, and how are they staying on top of today’s social, mobile, and collaborative tools entering the workplace?
In this Lunch & Learn, industry experts will lead a discussion on:
- The governance processes firms are implementing to make permissible vs. prohibition decisions
- How firms are adjusting oversight practices related to use of social, mobile, and collaborative content
- How to firms are adjusting supervisory processes to ensure that employees are using the appropriate tools
MODERATOR
Robert Cruz, Smarsh
PANELISTS
Abishek Chaki, Ernst & Young
Anthony Diana, Reed Smith
John Goff, FTI Consulting
Sponsored by: Investedge
Regulations for protection are putting a false sense of security on most firms’ existing programs because the underlying focus has shifted from client centric suitability to product specific analysis on determining best interest. Recent exams are highlighting that using the wrong tools to support your WSP’s in this new environment is creating a wrong sense of security.
In this Lunch & Learn session we will discuss how the Regulatory Priorities of 2024 can be managed effectively in a holistic trade supervision and account monitoring program. We will discuss how proper technology can be implemented to reduce the friction between your WSP’s and operating model by delivering actionable Level 1 analysis to your supervisors.
Specifically, we’ll address:
• Complex Products
• Direct Business blind spots
• BD/ RIA Arbitrage
• Manipulative Trading
PANELIST
Jeffrey Cowley, InvestEdge
Lunch & Learn: Simultaneous Challenges for Financial Market Regulators - Separation of Powers, Administrative Law Standards and the Congressional Review Act
Sponsored by Davis Wright Tremaine LLP
The powers of financial regulators are inherently limited to the authority expressly delegated to them by Congress. This session will discuss those limitations as expressed: (a) Constitutionally, through the Separation of Powers and related concepts such as the Non-Delegation Doctrine, the Major Questions Doctrine and Lenity; (b) Congressionally, through the Administrative Procedure Act and the Congressional Review Act; (c) Administratively, through limitations imposed by the Executive Branch, and (d) Judicially, by the courts. The session will cover a series of cases and several recent regulatory proposals which are being challenged, such as:
Separation of powers – SEC v. Jarkesy (in house ALJs); Alpine Securities v. FINRA (in house hearing officers); Loper Bright Enterprises v. Raimondo (Chevron deference)
Non-Delegation and Major Questions Doctrines – Alabama Assoc. of Realtors v. HHS; NFIB v. Dept. of Labor; Biden v. Nebraska; West Virginia v. EPA
APA/Abuse of Discretion/Reasoned Analysis – Business Roundtable v. SEC (overturning proxy rule); Chamber of Commerce v. SEC (overturning share repurchase rule); Grayscale v. SEC (reversing the denial of BTC ETF application); Managed Funds Ass’n v. SEC (challenge to short sale disclosure rule); Kalshi v. CFTC
Final Agency Action – PredictIt v. CFTC
Congressional Review Act – Challenges to SAB 121
Executive Branch Standards for Regulatory Planning and Review – Executive Orders 12866 (1993), as modified by 13563 (2011) and 14094 (2023)
PANELISTS
Liz Davis, Davis Wright Tremaine
Stephen Gannon, Davis Wright Tremaine
Bob Howard, Davis Wright Tremaine
The SIFMA C&L Society Diversity, Equity & Inclusion (DE&I) Advocate Award celebrates legal and compliance professionals who have demonstrated an exceptional commitment to building creative solutions that address DE&I inequities in the financial services industry and ensures the next generation of leaders reflects our diverse society.
SPEAKER:
Joseph L. Seidel, SIFMA
MODERATOR
Kenneth E. Bentsen, Jr., SIFMA
PANELISTS
Commissioner Kristin Johnson, CFTC
President Claire McHenry, NASAA
Commissioner Mark Uyeda, SEC
Kevin Walsh, OCC
New for 2024!
•Underwriting Issues, including pricing, method of sale and limited offerings
•Secondary Trading Issues, including 1-minute trade reporting, T+1 and best execution
•Aggressive Enforcement and Examination
MODERATOR
Rick Agster, Raymond James
PANELISTS
Peg Henry, Stifel
Ernesto Lanza, MSRB
Leslie Norwood, SIFMA
Andrew Southerling, McGuireWoods
•The ethics and compliance context around investigations and internal reviews
•Where attorney-client privilege is and is not relevant
•Scope of the privilege, including the role of counsel and recent legal developments
•Best practices for safeguarding the privilege and interacting across internal roles
•Practical and ethical issues raised by communications with independent auditors, public relations consultants, the board of directors or its committees, and company affiliates
•Other relevant ethical considerations for in-house counsel
MODERATOR
Erika Engelson, Deutsche Bank
PANELISTS
Alphonzo Grant, Morgan Stanley
Arian June, Debevoise & Plimpton
Keri Matthews, Vanguard
New for 2024!
•Effective Legal and Compliance Interactions – The Importance of Structure and the Level of Engagement
•Comparing and Contrasting the Strategic Priorities and Risks of Each Function
•SEC and CFTC Regulatory Rulemakings on Cybersecurity – What are Legal and Compliance’s Roles in Addressing Cybersecurity Attacks
•SEC Predictive Analytics Rule Proposal
•Practical Application, Risks and Uses of AI in Legal and Compliance Departments
MODERATOR
Carl Kennedy, Katten
PANELISTS
Don Chaney, Stephens
Adam Meshel, Citigroup
Lauren Munfa, UBS
Mark Steffensen, HSBC
•The Not Top Ten List
•Eyes Wide Open: Spotting Fraud Early
•A Pound of Prevention: Training, Education and Procedures
•What’s in the toolbox? Resources to Respond
MODERATOR
Alan Smith, Janney
PANELISTS
Mike Duff, Edward Jones
Jan Folena, Stradley Ronon
Marin Gibson, SIFMA
•Crypto Assets: Spot ETFs are here, what does it mean for your firm?
•Cybersecurity and Technology Management: The SEC’s new cybersecurity disclosure rules are in effect. NY recently adopted its own cybersecurity rules. What can firms do now to ensure compliance?
•Artificial Intelligence: Use of AI may be new and emerging, but the obligation to supervise its use is not. What should firms keep in mind as they adopt greater use of AI? Relatedly, how can firms use predictive analytics to enhance compliance efforts?
•Off Channel Communications: Settlements on the use of off channel communications are already in the rearview mirror. What are best practices moving forward?
•Fiduciary Rules: How should firms address regulatory concerns related to customer appointment of financial advisors as fiduciaries? Other regulators are now in the mix on this issue – what are key takeaways related to proposed DOL regulation of investment advisors as fiduciaries?
MODERATOR
Tracy Gerber, Greenberg Traurig
PANELISTS
Adam Algaze, Oppenheimer
Julie Glynn, JPMorgan
Akiko Yamahara, Citi
•Antitrust developments and practice pointers
•The evolution of boycott and market manipulation theories - Allegations of boycott in the bond and futures and options markets and trading and market manipulation in Cyrpto and other markets; joint and several liability
•Pleading and substantive defenses including antitrust standing, efficient enforcer, antitrust injury, and other defenses
•Class certification opposition strategies including challenges to expert models: opt-out experience and strategies
•Trial presentation and strategies
•Coordinating parallel proceedings; resolution strategies
•Emerging trends including litigation risk abroad, ESG exposure
•Regulatory enforcement and the impact on civil litigation
MODERATOR
Jill Centella, JPMorgan
PANELISTS
Susanna Buergel, Paul Weiss
Victor Hou, Cleary
Jay Tambe, Jones Day
This session is also available on Tuesday afternoon (see TC)
•Regulatory and Criminal Trends, Sweeps and Priorities
•Self-Reporting and Cooperation Credit: What is it really worth?
•Crypto, Cyber and other current enforcement issues
•Off-channel communications: what happens next?
•Whistleblower issues and enforcement
MODERATOR
Elaine Mandelbaum, Interactive Brokers
PANELISTS
Stephanie Avakian, WilmerHale
Geoff Berman, Fried Frank
Joon Kim, Cleary Gottlieb
Samantha Schreiber, Morgan Stanley
New for 2024!
•The nuances of dealing with current/former employees in the context of regulatory/enforcement/internal
•Tips on how to interface with regulators and law enforcement who have increasing demands for cooperation
•Considerations for expat and cross-border employees
•Employment Related Reporting Issues/Regulatory Reporting
MODERATOR
Jane Kauh, Deutsche Bank
PANELISTS
Terri Chase Jones Day
Cara Friedlander, SMBC
Valecia McDowell, Moore & Van Allen
Thomas Mullins, Barclays
•Holistic conduct risk management, including ethical/behavioral matters and corporate culture implications
•Measuring corporate culture
•Maintaining culture through transitions
•Whistleblower protections, conduct assessments and retaliation (Activision)
•Overlaps between sustainability efforts and commitments and conduct-related considerations
MODERATOR
Katherine Stowe, Morgan Stanley
PANELISTS
Sarah Fortt, Latham & Watkins
Emily Posner, Wells Fargo
Justin Siegel, Goldman Sachs
•SEC priorities
•SEC enforcement actions
•Regulatory and legislative trends
•Cybersecurity risks and threat landscape
MODERATOR
Joey Lipton, JPMorgan
PANELISTS
Anita Bandy, Skadden
Andrea Griswold, Southern District of New York
Jason Harrell, DTCC
This session is also available on Tuesday afternoon (see TC)
•Best practices in conducting internal investigations
•Cooperation credit and managing conflicts in the representation of the company and employees
•Parallel regulatory investigations and facilitating interagency coordination
•Strategies for effective escalation to senior regulator decision makers
•The importance of prompt remediation in parallel to regulatory investigations
MODERATOR
Justin Alfano, Deutsche Bank
PANELISTS
Steve D’Alessandro, JPMorgan
Ilan Graff, Fried Frank
Mark Keene, Wells Fargo
Glenn Leon, DOJ
Alisha Nanda, Skadden
•Benefits and concerns associated with use of digital engagement practices and predictive data analytics.
•Definitions/scope of DEPs and PDA, and describe the proposed Covered Technologies.
•The resulting potential conflicts from use of DEPs and PDA, and related disclosure and mitigation requirements in existing and new rulemaking.
•Considerations surrounding the proposed rules and their potential impact to investors.
•Potential challenges for firms in adhering to the proposed rules.
MODERATOR
Nayra Calderon-Najera, EFG Capital
PANELISTS
Justin Chretien, Carlton Fields
Lucas Moskowitz, Robinhood
Kate Ring, Stash
Devin Ryan, SEC
New for 2024!
•Trapped in the Middle: Navigating the Politics of ESG and the Legal Landscape
•The Rise (and Fall) of State Anti-Boycott Statutes
•Financial Institutions Caught in the Crossfire: ESG Enforcement, Litigation, and the Challenges Ahead
•The Emissions Dilemma: Evolving Disclosure Requirements in the U.S. and Abroad
MODERATOR
Kory Wilmot, Citi
PANELISTS
Joanna Geneve, HSBC
Adam Schwartz, Shearman & Sterling
Patrick Shilling, UBS
New for 2024!
•Definitional grounding of AI/GenAI/ChatGPT
•Evolution in tech usage and how/when firms are utilizing, including e comm usage in sales/marketing
•Benefits/Challenges of deploying, including intersection with Complex/New Product processes
•Regulatory landscape and focus, including proposed SEC Predictive Data Analytics rule
MODERATOR
Rosalynn Cormier, Vanguard
PANELISTS
Steve Bard, Wells Fargo
Jennifer Klass, K&L Gates
Julie Richmond, Fidelity
•Current status: Financial institutions that have gone the extra mile to litigate
•What should you think about when deciding to litigate versus settle
•How to maintain a constructive relationship with your regulator and key stakeholders while litigating
•Managing potential conflicts and misalignment with current and former employees
MODERATOR
Ellen Hu, Barclays
PANELISTS
Jaliya Faulkner, Vanguard
Sara Raisner, Shearman & Sterling
Matt Solomon, Cleary Gotlieb
New for 2024! This session is also available on Tueday afternoon (see TC)
•Convergence of retail investment advice standards
•Compliance challenges and best practices
•Examination focus and enforcement trends
•Impact of state regulation on federally registered firms
•DOL fiduciary rule proposal 4.0 and outlook
MODERATOR
Alisha Telci, Ameriprise
PANELISTS
Tammy Bawnik, UBS
Lindsay Jackson, Morgan Lewis
Valerie Mirko, Armstrong Teasdale
Mike Rufino, SEC
•Surveillance - Roles and Responsibilities: 1LoD vs. 2LoD
•Communications Monitoring/Surveillance, and Off-Platform Communications
•General Surveillance/Trade Surveillance
•Data Analytics, Data Science and Holistic Surveillance – Connect the Dots
•Surveillance Governance/Model Risk Management
•Related Regulatory Actions
MODERATOR
Mathias Kramer, Morgan Stanley
PANELISTS
David Blake, LPL
Takako Okada, Charles Schwab
Chris Sherlock, Ameriprise Financial
Angela Turiano, Scarinici Hollenbeck
•Finalized Rule 192
•SEC Amendments to Reg M for fixed income securities
•15c2-11/ exemptions for 144A securities
•TRACE reporting- lessons learned and pending updates
•Regulatory considerations and liability for sustainability-linked bonds
•FINRA exam priority- Fixed Income Fair Pricing
MODERATOR
Sara Carlesimo, Citadel Securities LLC
PANELISTS
Chad Leicht, RBC
Anna Pinedo, MayerBrown
Corwin Wyatt, Jefferies
This session is also available on Tuesday morning (see TB)
•Best practices in conducting internal investigations
•Cooperation credit and managing conflicts in the representation of the company and employees
•Parallel regulatory investigations and facilitating interagency coordination
•Strategies for effective escalation to senior regulator decision makers
•The importance of prompt remediation in parallel to regulatory investigations
MODERATOR
Justin Alfano, Deutsche Bank
PANELISTS
Steve D’Alessandro, JPMorgan
Ilan Graff, Fried Frank
Mark Keene, Wells Fargo
Glenn Leon, DOJ
Alisha Nanda, Skadden
•The evolution of global sanctions regimes and touchpoints to the securities industry
•Establishing and maintaining sanctions compliance programs to address the complexities of today’s U.S. sanctions programs
•Sanctions enforcement: recent enforcement actions, increase in criminal cases and key takeaways
•Recent regulatory Guidance re Anti-Corruption Compliance and compliance tips
•Highlights of the Foreign Extortion Prevention Act
•Bribery and Corruption enforcement priorities
MODERATOR
Sarah Green, Vanguard
PANELISTS
Elizabeth Harnisch Giordano, Oppenheimer
Joshua Jungman, OFAC
Thor Nelson, Ameriprise Financial
Paul Tyrrell, Sidley
•Supreme Court case – Slack Technologies, LLC
•Climate change disclosures
•Cornerstone investments in IPOs
•Former De-SPAC companies/follow-ons
•Kirschner 2nd Circuit case – loan vs security
MODERATOR
Patrick Moran, Goldman Sachs
PANELISTS
Shanna Green, Jefferies
Michael Kaplan, Davis Polk
Paul Rosen, United States Department of the Treasury
This session is also available on Wednesday morning (see WB)
•Actors portray a ransomware incident and the audience chooses the next scenario’s outcomes
•Guided experience with two cyber security/crisis management professionals, who review pros and cons of scenarios with the audience
•Decisions have regulatory, financial and reputational impact
•Addresses risk and crisis management, incident response, regulatory options and executive decision-making
SPEAKERS:
Pablo Martinez, Fidelity
Sam Richardson, Fidelity
•SEC Rule 605 – Amendments to Disclosure of Order Execution Information
•Regulation NMS- Rule 610 & 612 —Amendments to introduce new minimum pricing increments, access fee caps and best odd-lot orders
•Regulation Best Execution —New SEC rule for setting a standard for broker dealers best execution obligations
•Order Competition Rule —Retail Order Auctions rule would require certain orders of individual investors to be exposed to competition in fair and open auctions before they could be executed internally by any trading center.
•Volume-Based Exchange Transaction Pricing for NMS Stocks-- prohibits national securities exchanges from offering volume-based transaction pricing in connection with the execution of agency-related orders in certain stocks.
MODERATOR
Maura Miller, Credit Suisse
PANELISTS
Dave Shillman, SEC
Charles Sommers, Sidley
Danielle Bartolomei, J.P. Morgan
This session is also available on Tuesday morning (see TB)
•Convergence of retail investment advice standards
•Compliance challenges and best practices
•Examination focus and enforcement trends
•Impact of state regulation on federally registered firms
•DOL fiduciary rule proposal 4.0 and outlook
MODERATOR
Alisha Telci, Ameriprise
PANELISTS
Tammy Bawnik, UBS
Lindsay Jackson, Morgan Lewis
Valerie Mirko, Armstrong Teasdale
Mike Rufino, SEC
This session is also available on Tuesday morning (see TA)
•Regulatory and Criminal Trends, Sweeps and Priorities
•Self-Reporting and Cooperation Credit: What is it really worth?
•Crypto, Cyber and other current enforcement issues
•Off-channel communications: what happens next?
•Whistleblower issues and enforcement
MODERATOR
Elaine Mandelbaum, Interactive Brokers
PANELISTS
Stephanie Avakian, WilmerHale
Geoff Berman, Fried Frank
Joon Kim, Cleary Gottlieb
Samantha Schreiber, Morgan Stanley
•The 2023 Landscape
o Students for Fair Admissions v. Harvard, 600 U.S. 181 (2023)
o 13 AGs Letter to Fortune 100 CEOs
•Continued Corporate Commitment to Diversity
o Congressional Black Caucus Reaches Out to Corporate America
o Increased Support of HBCUs
•2024 Belonging – DEI v DEIB - The New Focus of Corporate DEI Efforts
MODERATOR
Sandra Grannum, Faegre Drinker
PANELISTS
Michael Freedman, LPL
Tamela Merriweather, Northern Trust
Kruti Trivedi, JPMorgan
•Overview of the 2024 FINRA Annual Regulatory Oversight Report
•Examination and Risk Monitoring Priorities
•Discussions on Key Topics including –
o Financial Crimes – Cybersecurity
o Best Execution
o Consolidated Audit Trail
o Regulation Best Interest
o Crypto Assets
o Mobile Apps and Artificial Intelligence
•FINRA Goals and Policy Objectives
MODERATOR
John Ayanian, McGuireWoods
PANELISTS
Bob Colby, FINRA
Stephanie Dumont, FINRA
Greg Ruppert, FINRA
Nathaniel Stankard. FINRA
Bill St. Louis, FINRA
•What makes a product complex and how to define it
•Regulatory trends in complex products
•Supervisory concerns specific to complex products
•Complex products in a post Reg BI and DOL world
MODERATOR
Chad Nichols, Charles Schwab
PANELISTS
Michael Garawski, FINRA
Alex McCoy, LPL
Chris Schell, Davis Polk
SIFMA Luncheon Tables
Come have lunch with SIFMA’s staff advisors and join a discussion about key issues on our policy agenda. No registration necessary – just look for our tables near the entrance to our general networking luncheons. Seating is first come, first served!
Tuesday's discussion topics include:
- Diversity & Inclusion, with Veronica Johnson
- Generative AI, with Melissa MacGregor
- Infrastructure & Municipal Finance, with Leslie Norwood
- State Proposals Impacting the Industry, with Kim Chamberlain
Sponsored by: Global Relay
We’ll explore the ever-growing challenges of maintaining mobile communications compliance and share the most effective strategies that firms can implement to circumnavigate these pitfalls.
Together with Christa Graverson, Chief Compliance Officer at Baird, we’ll reveal how integrated compliance solutions can help firms develop a mobile communications strategy that aligns with the myriad channels used for business communications. Global Relay’s Raewyn Danvers, Director, Unified Communications and Chip Jones, Executive Vice President, Compliance will demonstrate our all-in-one compliance solution and answer any questions regarding mobile communications capture strategy for corporate device, BYOD, and hybrid workplace policies.
PANELISTS:
Raewyn Danvers, Director, Global Relay
Christa Graverson, Baird
Chip Jones, Global Relay
Sponsored by: Mayer Brown
Why is cybersecurity so challenging? Why does cybercrime get worse every year? A big part of the reason is because cybercrime is itself a sophisticated, multi-billion dollar industry. Cybercriminals today are not operating alone or even in small groups. It is an industry that has its own eco-system, with specialists in every aspect of cybercrime. In this Lunch & Learn, we will share insights about the cybercrime industry from the perspective of an insider who has changed sides and from a regulator’s perspective as well as discuss lessons learned.
PANELISTS:
Steffen Hemmerich, Mayer Brown
Justin Herring, Mayer Brown
Tram Nguyen, Mayer Brown
Dmitry Smilyanets, Recorded Futures
Lunch & Learn: The Future of Legal and Compliance: Embracing Generative AI in Legal & Compliance Practices
Sponsored by: Sia Partners
Generative AI, a groundbreaking technology, is reshaping various industries, and the legal and compliance field is no exception. As legal and compliance professionals, it's imperative for us to stay ahead of technological advancements, and Generative AI represents a significant leap forward. This transformative technology can assist in a wide variety of tasks ranging from legal research and drafting documents to KYC Onboarding and document reviews. Additionally, Generative AI can be used for enterprise document querying via chatbots, document data visualization and extraction, data pushing via APIs, and predictive analytics, offering unprecedented efficiency and accuracy from fully executed documents.
Join us for a session that aims to demystify the concepts of Generative AI, explore its practical applications in legal and compliance functions and discuss ethical considerations surrounding AI in legal contexts.
PANELISTS:
Zoya Ashirov, SIA Partners
Nutan Pandit, SIA Partners
MODERATOR
Mary Jo White, Debevoise
SPEAKER
Damian Williams, United States Attorney for the Southern District of New York
New for 2024!
•Optimizing the compliance organizational model
•Navigating affiliate-related conflicts of interest
•Service provider oversight -- heightened standards for affiliated providers?
•Evaluating proprietary products for distribution
•Assessing marketing materials subject to different regulatory regimes
MODERATOR
Nancy Swift, Fideltity
PANELISTS
Brian Baltz, Willkie
Stephanie Mumford, TRowe Price
KC Waldron, Charles Schwab
•Key regulatory initiatives affecting financial institutions, including:
o Market manipulation investigations and trends, including block trading
o Redefined insider trading investigations that focus on the data rather than the trade
o Regulatory scrutiny of products, services, and pledges related to ESG factors or objectives
o Getting the numbers right – lowering the boom on regulatory reporting
•Policy and process shifts affecting regulatory investigations and resolutions, including:
o Blurring of lines between supervision and enforcement
o Industry sweeps – what to look for and how to handle them
o Return of the Monitor and other remediation requirements
MODERATOR
Mei Lin Kwan-Gett, Citigroup
PANELISTS
Matt Fitzwater, Barclays
Katie Goldstein, Akin
Julie Riewe, Debevoise
New for 2024!
•Overview of Equity Markets Today
•Origins of the National Market System – Section 11A of the Securities Exchange Act of 1934
•Order Handling Rules
•Payment for Order Flow
•Decimalization
•Regulation ATS
•Regulation NMS
•Market Access Rule
•Current SEC Market Structure Proposals
MODERATOR
Andre Owens, WilmerHale
PANELISTS
Karen Crupi, Fidelity
Annette Kelton, Goldman Sachs
Scott Litvinoff, Interactive Brokers
Racquel Russell, FINRA
•Preserving Privileges and Protections in Presentations to Regulators
•Handling Confidential Client Information in the Hybrid Environment
•Electronic Communications Gone Awry: The Perils of Misdirected Emails
•Deputizing Non-Lawyers in Internal Investigations
MODERATOR
Ben Indek, Morgan Lewis
PANELISTS
Mark Knoll, Odeon Group
Nina McKenna, Osaic
Dee O’Neill, Raymond James
Gina Petrocelli, FINRA
•The Reg BI standard of care:
o Challenges in implementation and supervision
o Key Reg BI guidance
o Case Studies: Reg BI in practice
•Overlapping and contradictory standards, federal and state
MODERATOR
Steve Hurd, Raymond James
PANELISTS
Nicole James Gilchrist, Thrivent
Stephanie Nicolas, WilmerHale
Mike Rufino, SEC
Theresa Seys, Ameriprise
•Fostering a culture of compliance
•Avoiding COO liability
•Leveraging Technology and AI to support internal compliance and legal teams
•Planning ahead for future crises
•Adapting to the changing ESG landscape
MODERATOR
Joe Polizzotto, Quislex
PANELISTS
Rose Battaglia, Deutsche Bank
Hardy Calcott, Sidley
Lani Quarmby, Citi
Michelle Williams, Clifford Chance
New for 2024!
•The concept of AI has ancient origins and stories of artificial beings endowed with human like intelligence have pervaded countless histories, cultures, and media.
•While most modern AI is narrow, focusing on specific tasks, generative AI stands out for producing human-like content in response to varied prompts.
•AI is transforming capital markets by automating tasks, optimizing trading strategies, enhancing risk management, and uncovering insights from vast volumes of data, yet challenges include data security, regulatory compliance, and the ethical use of AI in decision-making processes.
•Worldwide, countries are enacting AI governance legislation ranging from comprehensive legislation to focused legislation for specific use cases, and voluntary guidelines, to manage the rapid growth of AI-powered technologies.
•When approaching AI governance, organizations should proactively consider transparency, discrimination and bias, data management, and individual rights in their AI strategy to mitigate legal, reputational, and financial risks. Organizations’ goals in establishing robust frameworks in these areas may include enhancing trust, minimizing risks, and positioning companies effectively in the evolving AI landscape.
MODERATOR
Max Iori, Morgan Stanley
PANELISTS
Bridget Farrell, Edward Jones
Jason Gerson, Wells Fargo
Jeff Robins, Debevoise
•Regulatory expectations and best practices in governance, reporting and metrics
•Development of fulsome regulatory inventory and integration with risk framework
•Expectations in development of monitoring programs and use of data to inform and execute monitoring and testing
MODERATOR
Marla Moskowitz, Wells Fargo
PANELISTS
John Burns, Morgan Stanley
Amrita Mahabaleswara, Goldman Sachs
Garath McKibben, Raymond James
Jeffrey Taft, Mayer Brown
•Approaches to regulatory engagement generally; what do firms and regulators find effective
•Key takeaways from the SEC and FINRA annual reports, including new and notable priorities
•The nuts and bolts of effective regulatory exam management, such as preparation and quality control
•Managing exam findings and enforcement risk, including best practices for responding to issues and related self-reporting considerations
MODERATOR
Ryan Lester, Goldman Sachs
PANELISTS
Olga Greenberg, Eversheds Sutherland
Andy Lipton, Morgan Stanley
John Lupton, Vanguard
Michael Solomon, FINRA
•Investor Protection – 15c2 -11 and Best Execution in FI Markets
•Resiliency – Mandatory Clearing of US Treasuries, Rule 4210 and Broadening of Reg SCI
•Oversight – broadening of Dealer Registration and Reg ATS
•Transparency - 10c-1 Securities Lending and TRACE/MSRB Trade Reporting (1 minute reporting; Public dissemination of Treasury trades; trade indicators)
MODERATOR
Wade Dougherty, Goldman Sachs
PANELISTS
Elizabeth Baird, Eversheds Sutherland
Jim Burns, Cleary
Rob Toomey, SIFMA
This session is also available on Tuesday afternoon (see TC)
•Actors portray a ransomware incident and the audience chooses the next scenario’s outcomes
•Guided experience with two cyber security/crisis management professionals, who review pros and cons of scenarios with the audience
•Decisions have regulatory, financial and reputational impact
•Addresses risk and crisis management, incident response, regulatory options and executive decision-making
SPEAKERS:
Pablo Martinez, Fidelity
Sam Richardson, Fidelity
New for 2024!
•New Frontiers/Hot Topics
o New and Upcoming Rules & Guidance (e.g., proposed Outsourcing Rule, cyber security rules, etc.)
o Artificial Intelligence / LLMs
o Challenges of the Fintech Ecosystem
•Risk management over the life cycle of the vendor relationships
o Understanding, prioritizing and managing BCP/resiliency for critical vendor relationships
o Structuring your procurement and vendor management programs to reduce litigation risks through defined roles and other risk management tools
MODERATOR
Patrick Jones, Fidelity Investments
PANELISTS
Meredith Leary, Mintz Levin
Eric McLaughlin, Davis Polk
Jeanette Rovira, Goldman Sachs
Natalie Swallow, Morgan Stanley
•SEC marketing rule lessons learned (now that we're one year in)
•Regulatory trends, including communications with the public
•Social media trends, including the impact of influencers
•AI considerations
MODERATOR
Michelle Kelley, Commonwealth
PANELISTS
David Blass, Simpson Thacher
Kristi Crawford, Schwab
Kyu Kang, UBS
•New expungement rule – process and pitfalls
•Reg BI claims in sales practice cases
•The interplay between regulatory settlements and arbitrations
•Rising interest rates – claims and defenses
•Off channel communications
•2023 FINRA stats
•FINRA Dispute Resolution Rule Changes
MODERATOR
Beverly Jo Slaughter, Wells Fargo
PANELISTS
Ken Crowley, UBS
Rick Davis, Maynard Nexsen
Greg Scanlon, Charles Schwab
