Off-Channel Communications Forum

Thursday

,

October

26th

@

10:00am

EDT

Virtual

Off-Channel Communications Forum

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Watch SIFMA's Off-Channel Communications Forum On-Demand

As the landscape for communications continues to evolve, regulators have increased their scrutiny of "off-channel communications" and brought significant enforcement actions against firms.

Complying with rules enforced by, among others, the U.S. Securities and Exchange Commission has become more complicated as communications platforms continue to evolve and change. In this Forum, participants will discuss their thoughts on how to interpret and comply with existing rules given the changing landscape of communications and the SEC’s enforcement of those rules.

This Forum is available to watch on-demand to SIFMA members and industry regulators. To request access, please email SIFMA Conferences. Already registered? Check your inbox for access instructions.

Request Access

Key Topics:

Understand how recent enforcement actions may impact how firms comply with recordkeeping rules adopted under the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940

Implement proactive reviews of existing recordkeeping and supervision practices and share best practices that firms can adopt to strengthen policy frameworks

Develop robust policies to govern employee use of personal devices and communication platforms (e.g., text messages, WhatsApp and other direct messaging)

As the landscape for communications continues to evolve, regulators have increased their scrutiny of "off-channel communications" and brought significant enforcement actions against firms.

Complying with rules enforced by, among others, the U.S. Securities and Exchange Commission has become more complicated as communications platforms continue to evolve and change. In this Forum, participants will discuss their thoughts on how to interpret and comply with existing rules given the changing landscape of communications and the SEC’s enforcement of those rules.

This Forum is available to watch on-demand to SIFMA members and industry regulators. To request access, please email SIFMA Conferences. Already registered? Check your inbox for access instructions.

Register Now

Key Topics:

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Watch the Roundtable On Demand

Download the transcript:

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Our Speakers

Saima Ahmed

Executive Vice President and General Counsel

SIFMA

Justin Alfano

Co-Head Litigation and Regulatory Enforcement – Americas, Associate General Counsel

Deutsche Bank

Etienne Barg-Townsend

Senior Litigation Counsel, U.S. Capital Markets Litigation

BMO Capital Markets

Paul Carlesimo

Managing Director, Head of US Markets Compliance

RBC capital Markets

Andrew J. Ceresney

Partner

Debevoise & Plimpton

Stephen M. Cutler

Of Counsel

Simpson Thacher

Jenna M. Dabbs

Partner

Kaplan Hecker & Fink

Peter Isajiw

Partner, Trial and Global Disputes

King & Spalding

Yoon-Young Lee

Partner

WilmerHale

Amy Jane Longo

Partner

Ropes & Gray

Melissa MacGregor

Deputy General Counsel and Corporate Secretary

SIFMA

Laura Magyar

Managing Director, Patomak Partners

Lorin L. Reisner

Partner

Paul Weiss

Amy Watson

Managing Director, Chief Compliance Officer for Global ICG Operations,

Citigroup Global Markets

Program

All times are in Eastern Time (ET).

10:00 a.m. - 10:05 a.m.

Welcome and Opening Remarks

Saima Ahmed, Executive Vice President and General Counsel, SIFMA

10:05 a.m. - 11:20 a.m.

Panel 1: Revisiting the definition of “business as such”

• “Business as such” under Rule 17a-4
• Impact of the SEC/CFTC settlements on generally accepted interpretations
• Ramifications of over-preserving
• RIA communications recordkeeping requirements under the Investment Advisers Act of 1940

Moderator:

Stephen M. Cutler, Of Counsel, Simpson Thacher

Panelists:

Etienne Barg-Townsend, Senior Litigation Counsel, U.S. Capital Markets Litigation, BMO Capital Markets
Paul Carlesimo, Managing Director, Head of US Markets Compliance, RBC Capital Markets
Yoon-Young Lee, Partner, WilmerHale
Amy Jane Longo, Partner, Ropes & Gray
Peter Isajiw, Partner, Trial and Global Disputes, King & Spalding

11:20 A.m. - 11:40 A.M.

Break

11:40 a.m. - 12:55 p.m.

Panel 2: Compliance practices to detect and prevent off-channel communications

• Policies to prevent off-channel communications
• Role of employee training on communications
• Assessing new communications platforms
• Implications for BYOD
• Identifying and escalating red flags

Moderator:

Andrew J. Ceresney, Partner, Debevoise & Plimpton

Panelists:

Justin Alfano, Co-Head Litigation and Regulatory Enforcement – Americas, Associate General Counsel, Deutsche Bank
Kate L. Doniger, Partner, Kaplan Hecker & Fink

Laura Magyar, Managing Director, Patomak Partners

Lorin L. Reisner, Partner, Paul Weiss

Amy Watson, Managing Director, Chief Compliance Officer for Global ICG Operations, Citigroup Global Markets

12:55 p.m. - 1:00 p.m.

Closing Remarks

Melissa MacGregor, Deputy General Counsel and Corporate Secretary, SIFMA

The Industry Viewpoint

Prudential rules have made the financial system safer and stronger, and recent studies have found capital levels in the U.S. banking system are now optimal - balancing financial stability with economic growth. Further increases, including those being considered with the Basel III Endgame reforms, will have significant economic costs particularly on U.S. capital markets.

Policymakers should take into account the totality of prudential reforms and work towards a level of bank capital that provides a substantial margin of safety without impairing economic growth, lending, and capital markets activities.

Watch more perspectives on implementation of the Basel III Endgame and read SIFMA's five-part blog series to explore the impact of US bank capital requirements on the capital markets:

Part 1: Current Regulatory Capital Requirements Applicable to US Banks

Part 2: How Basel III "Endgame" Reforms Will Transform US Capital Requirements

Part 3: Identifying an Optimal Level of Capital and Evaluating the Impact of Higher Bank Capital Requirements on US Capital Markets
Part 4: Explaining the Overlap Between the FRTB and the Global Market Shock

Part 5: The Basel III Endgame's Potential Impacts on Commercial End Users

Discover More

Useful Information

Registration

Registration is complimentary and available to SIFMA members and regulators. It closes on Oct. 25 at 5:30 p.m. ET. This Forum is closed to media.

Access Instructions

Access instructions will be sent from SIFMA Conferences to registrants within 24 hours of the start of the webinar.

Accessibility

It is a priority to make our events inclusive and accessible for all. For questions or requests, contact SIFMA Conferences.

Technical Requirements

This webinar will be hosted on Zoom. View instructions on joining and participating in Zoom webinars.

Code of Conduct

Inappropriate behavior at SIFMA events is not tolerated. View our Code of Conduct and anonymous incident report form.

Questions?

Please contact SIFMA Conferences.

CLE Credits

SIFMA has been certified by the New York State Continuing Legal Education Board as an Accredited Provider of continuing legal education in the State of New York. This webinar will be eligible for New York State CLE Credit for non-transitional attorneys.

Attendance must be certified by completing the affirmation form found on the webinar console immediately following the webinar; enter the CLE code word as provided by the moderator and email the form to conferences@sifma.org. Participants will receive CLE certificates for New York State within 60 days of the webinar; participants should self-file for CLE credit in other states. It is the responsibility of the registrant to comply with all rules and regulations governing the jurisdictions in which the attendee is seeking credit.

Registration fee reduction maybe available for qualified registrants; please view our hardship policy to learn more.

Credits

This event will be eligible for [#] CAMS credit hours. -OR- This program OR parts of this program will be available for CLE credit: [# hours] in [list states separated by comma and note if any pending approval]. -OR- This program will be available for CPE credit.

Credits are available for live programs only; they are not available for on demand content. Be sure to indicate your interest in applying for credits by checking the applicable box during registration; fees may apply.

SIFMA offers a variety of continuing education credits to help our members reach their professional development goals. Find out more details about accreditation.

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