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U.S. Securities and Exchange Commission

SEC Seniors Summit to Help Securities Firms and Professionals Better Serve Older Investors


Washington, D.C., Sept. 17, 2008 — The Securities and Exchange Commission today announced the final agenda for the afternoon session of its Seniors Summit for financial services professionals who want to learn firsthand how to effectively deal with new emerging issues involved with managing the finances and investments of senior citizens.

The SEC's Seniors Summit will take place at its Washington D.C. headquarters on Monday, September 22.

Employees of financial services firms are encouraged to attend this free event. Advance registration is required. The afternoon session, from 1:15 p.m. to 5:15 p.m. ET, is called: "What Financial Services Firms and Industry Professionals Need to Know About Serving the Senior Investor." Speakers include SEC Chairman Christopher Cox, FINRA Chief Executive Officer Mary Schapiro, NASAA President Fred Joseph, AARP Chief Operating Officer Thomas Nelson, experts on aging issues, representatives of industry groups, and other federal, state and FINRA officials.

"The largest demographic wave in U.S. history is approaching — Americans are living far longer than ever before and more than 76 million baby boomers are set to reach retirement age in coming years," said Lori Richards, Director of the SEC Office of Compliance Inspections and Examinations. "This presents a challenge to securities firms and securities professionals — they must develop ways to ensure that they are prepared to serve this vastly expanded customer base of older investors and effectively serving their interests with respect to their retirement assets and savings. The Seniors Summit will help them do that."

The Seniors Summit's afternoon session will focus on how securities firms and professionals can effectively serve older investors, and the challenges that come with that responsibility.

Attendees can expect to learn:

  • The new practices that other firms have implemented to serve senior investors, so financial services professionals can apply those practices at their own firms.

  • The signs of diminishing capacity and what to do.

  • What will get securities professionals into trouble with regulators and enforcement officials.

  • New surveillance techniques to make sure firms are in compliance with the law.

Financial services professionals can register to attend the SEC's Seniors Summit by sending an e-mail to SeniorSummitAfternoon@pcicom.com or calling 1-800-732-0330.

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Seniors Summit Agenda

Afternoon Session for Financial Services Firms: "What Financial Services Firms and Industry Professionals Need to Know About Serving the Senior Investor"

1:15–1:45 p.m.

Opening Remarks

  • SEC Chairman Christopher Cox
  • FINRA Chief Executive Officer Mary Schapiro
  • NASAA President Fred Joseph
  • AARP Chief Operating Officer Thomas Nelson
1:45–2:45 p.m.

"Protecting Senior Investors: Compliance, Supervisory and Other Practices Used by Financial Services Firms in Serving Senior Investors"


  • Lori Richards, Director, SEC's Office of Compliance Inspections and Examinations
  • Joseph Borg, Director, Alabama Securities Commission
  • Daniel Sibears, Executive Vice President, Member Regulation Programs, FINRA
  • Ira Hammerman, Senior Managing Director and General Counsel, Securities Industry and Financial Markets Association
  • David Tittsworth, Executive Vice President and Executive Director, Investment Adviser Association


  • SEC Commissioner Luis Aguilar
2:45–3:45 p.m.

"Diminished Capacity: What Every Financial Services Professional Should Know"


  • Jason Karlawish, M.D., Associate Professor of Medicine and Medical Ethics, University of Pennsylvania Medical School
  • Michelle Bryan Oroschakoff, Managing Director and Co-Chief Compliance Officer, Morgan Stanley
  • Charles Sabatino, Director, ABA Commission on Law and Aging
  • Ryan Wilson, Strategic Policy Adviser, AARP, Public Policy Institute
  • Joseph Snyder, Director, Older Adult Protective Services, Philadelphia Corporation for Aging


  • SEC Commissioner Kathleen Casey
4–5 p.m.

"Enforcement Trends Involving Seniors"


  • Linda Thomsen, Director of SEC's Division of Enforcement
  • Susan Merrill, FINRA Executive Vice President and Chief of Enforcement
  • Patricia Struck, Administrator, Division of Securities, Wisconsin Department of Financial Institutions
  • Bradford Campbell, Assistant Secretary of Labor, Employee Benefits Security Administration, U.S. Dept. of Labor
  • Susan Voss, Iowa Insurance Commissioner


  • SEC Commissioner Troy Paredes
5–5:15 p.m.

Closing Remarks

  • Lori Richards, Director of SEC's Office of Compliance Inspections and Examinations



Modified: 09/17/2008