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U.S. Securities and Exchange Commission

CCOutreach National Seminar
for Investment Adviser and Investment Company Chief Compliance Officers

November 8, 2005
U.S. Securities and Exchange Commission
Station Place Auditorium
Washington, DC

8:00 - 9:00 a.m. Registration and Security Processing (please plan to arrive early to accommodate the processing of all Seminar attendees)


Introduction (9:00-9:15)

Welcome and Introduction to CCOutreach
Lori A. Richards
Director, Office of Compliance Inspections and Examinations

Opening Message
Chairman Christopher Cox
US Securities and Exchange Commission

II.   The Role of the CCO and the Annual Review (9:15-10:45)
Gene A. Gohlke (Office of Compliance Inspections and Examinations)(moderator), Robert E. Plaze (Division of Investment Management), Aaron D. De Angelis (Brandywine Asset Management), James M. Davis (Franklin Templeton Investments)
  1. Who can be a CCO?
  2. CCO Interactions with Management and Employees, Outside Service Providers and Fund Boards
  3. SEC Staff Expectations of the CCO
  4. SEC Staff Expectations with Respect to the Annual Review

Break 10:45-11:00*

III.   Exams and Inspections (11:00 – 12:15)
Kevin W. Goodman (SEC Pacific Regional Office)(moderator), Kimberly Garber (SEC Fort Worth District Office), Teresa L. Sanderson (Flippin, Bruce and Porter), Mary E. Keefe (Nuveen Investments)
  1. General Best Practices Relating to SEC Examinations
  2. Examination Guidelines to Evaluating Firms’ Compliance Programs
  3. What is OCIE Generally Looking for and Observing in Exams?
  4. Relevant Risk Factors in Establishing Firms’ Examination Schedule
  5. Factors in Determining Whether to Refer an Exam to Enforcement
  6. Forensic Measures

Lunch: 12:15-1:45*

IV.   Trading and Market Issues (1:45-3:00)
Meyer Eisenberg (Division of Investment Management)(moderator), Douglas R. Adams (SEC Midwest Regional Office), Rainey Rembert Woodward (GLOBALT Investments), Jeffrey Hiller (Merrill Lynch Investment Managers)
  1. Brokerage and Execution
    1. Market Timing
    2. Revenue Sharing
    3. Improper Trading Practices
    4. Best Execution
  2. Soft Dollars
  3. Advertising and Performance

Break: 3:00-3:15*

V.   Other Regulatory Issues (3:15 – 4:40)
Robert E. Plaze (Division of Investment Management)(moderator), Gene A. Gohlke (Office of Compliance Inspections and Examinations), Andrew Beagley (Citigroup Asset Management), Wendy Fox (Ariel Capital Management)
  1. E-mail Retention and Monitoring
  2. The CCO’s Role in Administering the Code of Ethics
  3. Form ADV and IARD
  4. Anti-Money Laundering
  5. Valuation Issues
VI.   Closing Remarks (4:40-4:45)
Meyer Eisenberg
Acting Director, Division of Investment Management

*Refreshments and lunch not provided. Dining and refreshment facilities are available at Union Station complex adjacent to SEC headquarters. Food and drink are not permitted in the auditorium.



Modified: 10/26/2005