SEC Meetings and Other Events

2022 Compliance Outreach Program National Seminar for Investment Advisers

Nov 15, 2022
8:30AM – 5:00PM ET

National Seminar Chairpersons

  • Marshall Gandy, National Associate Director, SEC, Division of Examinations
  • Natasha Greiner, National Associate Director, SEC, Division of Examinations 

Agenda

TimeSpeakers and Panelists
8:30 am – 8:40 am

Welcoming Remarks Speaker

  • SEC Chair Gary Gensler
8:45 am – 9:30 am

SEC Directors Panel

  • Examination priorities and initiatives
  • Rulemaking agenda
  • Enforcement actions

Speakers

  • Richard Best, Director, SEC, Division of Examinations (Moderator)
  • William Birdthistle, Director, SEC, Division of Investment Management
  • Gurbir Grewal, Director, SEC, Division of Enforcement
9:40 am – 10:45 am

Panel I: Fiduciary Interp. and Form CRS

  • Standard of Conduct and framework vis-à-vis Regulation BI and Investment Adviser Fiduciary Standard
  • Staff guidance, examination observations, and recent enforcement matters

Speakers

  • Elena Ro, Associate Regional Director, SEC, Division of Examinations, San Francisco Regional Office (Moderator)
  • Aaron Ellias, Senior Counsel, SEC, Division of Investment Management
  • Corey Schuster, Co-Chief, SEC, Division of Enforcement, Asset Management Unit
  • Donna Esau, Associate Regional Director, SEC, Division of Examinations, Atlanta Regional Office
  • Kris Easter-Guidroz, Managing Legal Counsel & Director – N.A. Institutional Compliance, T. Rowe Price

 

10:55 am – 12:00 pm

Panel II:  New Marketing Rule

  • General prohibitions and compliance policies and procedures
  • Impact on solicitor rule, testimonials, and endorsements
  • Performance advertisements
  • Enforcement’s perspective on the new marketing rule

Speakers

  • Vanessa Horton, Associate Regional Director, SEC, Division of Examinations, Chicago Regional Office (Moderator)
  • Christine Schleppegrell, Acting Branch Chief, Private Funds Branch, SEC, Division of Investment Management
  • Robert Baker, Assistant Director, SEC, Division of Enforcement, Asset Management Unit, Boston Regional Office
  • Christopher Mulligan, IA/Private Funds Senior Advisor, SEC, Division of Examinations
  • Steven Felsenthal, Principal, General Counsel & Chief Compliance Officer, Millburn Ridgefield Corporation

 

12:00 pm – 12:30 pmLunch Break
12:30 pm – 1:35 pm

Panel III:  Registered Funds Topics

  • Valuation and board oversight
  • Fees, expenses, disclosures, and advisory contracts renewal process
  • Derivatives risk management and limits on leverage and controls
  • Liquidity risk management, liquidity classifications, and vendor oversight
  • Fund compliance topics

Speakers

  • Maurya Keating, Associate Regional Director, SEC, Division of Examinations, New York Regional Office (Moderator)
  • Chris Carlson, Senior Counsel, SEC, Division of Investment Management
  • Andrew Dean, Co-Chief, SEC, Division of Enforcement, Asset Management Unit, New York Regional Office
  • Craig Ellis, Exam Manager, SEC, Division of Examinations, Denver Regional Office
  • Francine Rosenberger, Chief Compliance Officer, Transamerica Asset Management, Inc.

 

1:45 pm – 2:50 pm

Panel IV:  Environmental, Social, and Governance-Related Topics

  • Consistency and adequacy of disclosures regarding products, strategies, and practices
  • False and misleading marketing statements
  • Compliance oversight
  • Operational resiliency and climate-related risks

Speakers

  • Cindy Eson, Associate Regional Director, SEC, Division of Examinations, Los Angeles Regional Office (Moderator)
  • Sara Cortes, Senior Special Counsel, SEC, Division of Investment Management
  • Kimberly Frederick, Assistant Director, SEC, Division of Enforcement, Asset Management Unit, Denver Regional Office
  • Andy Sohrn, Exam Manager, SEC, Division of Examinations, Los Angeles Regional Office
  • John Boese, CCO, Impax Asset Management LLC

 

3:00 pm – 4:05 pm

Panel V:  Private Fund Adviser Topics

  • Private fund adviser examination process, focus areas, and common deficiencies
  • Fees and expenses issues
  • New marketing rule: private fund-related topics

Speakers

  • Kevin Kelcourse, Associate Regional Director, SEC, Division of Examinations, Boston Regional Office (Moderator)
  • Tom Strumpf, Senior Counsel, Private Funds Branch, SEC, Division of Investment Management
  • Nikolay Vydashenko, Assistant Director, SEC, Division of Enforcement, Asset Management Unit, Fort Worth Regional Office
  • Matthew Harris, Assistant Director & Co-Head of Private Funds Unit, SEC, Division of Examinations, Chicago Regional Office
  • Scott Weisman, Managing Director & Global Chief Compliance Officer, Bain Capital

 

4:15 pm – 5:20 pm

Panel VI: Hot Topics Lightning Round

  • Cybersecurity
  • Crypto Assets
  • Automated Investment Advice
  • Electronic Messaging
  • Hidden Markups
  • Leveraged and Inverse ETFs
  • LIBOR Transition
  • Hedge Clauses
  • Board Approval of Advisory Contracts
  • Form ADV – Staff Observations

Speakers

  • Lou Gracia, Associate Regional Director, SEC, Division of Examinations, Chicago Regional Office (Moderator)
  • Joe Murphy, Attorney Adviser, SEC, Division of Examinations, Denver Regional Office
  • Nadia Brannon, Securities Compliance Examiner, SEC, Division of Examinations, San Francisco Regional Office
  • Carolyn O’Brien, Senior Staff Accountant, SEC, Division of Examinations
  • Zachary Sturges, Senior Counsel, SEC, Division of Enforcement, New York Regional Office
  • Nicholas Madsen, Assistant Regional Director, SEC, Division of Examinations, Denver Regional Office
  • Virginia Kostka, Staff Accountant, SEC, Division of Examinations, Chicago Regional Officev
  • Chris Mulligan, IA/Private Funds Senior Advisor, SEC, Division of Examinations
  • Luisa Lewis, Attorney Adviser, SEC, Division of Examinations, Chicago Regional Office

 

5:25 pm – 5:30 pmClosing Remarks
Richard Best, Director, SEC, Division of Examinations 

 

 

Last Reviewed or Updated: Dec. 18, 2025