2018 Compliance Outreach Program National Seminar for Investment Adviser and Investment Company Senior Officers

Introductory Remarks from SEC Directors
Speakers

• Dalia Blass, Director, Division of Investment Management
• Peter Driscoll, Director, Office of Compliance Inspections and Examinations (National Exam Program)
• Stephanie Avakian, Co-Director, Division of Enforcement

Panel I: Insights from SEC Leadership Regarding Program Priorities ^*

• Update on certain National Exam Initiatives
• Fiscal year 2018 priorities
• Update on certain fiscal year 2017 priorities

Speakers

• Paul Cellupica, Deputy Director, Division of Investment Management
• C. Dabney O’Riordan, Co-Chief, Division of Enforcement, Asset Management Unit, Los Angeles Regional Office
• Kristin Snyder, Co-National Associate Director, National Exam Program, San Francisco Regional Office

Question & Answer Session 1
Speakers

• Ahmed Abdul-Jaleel, Assistant Regional Director, National Exam Program, Chicago Regional Office (Moderator)
• Brian Blaha, Staff Accountant, National Exam Program, Denver Regional Office
• Sara Cortes, Assistant Director, Division of Investment Management, Investment Adviser Regulation Office
• Louis Gracia, Deputy Associate Regional Director, National Exam Program, Chicago Regional Office
• Barbara Gunn, Assistant Director, Division of Enforcement, Asset Management Unit, Fort Worth Regional Office
• Michael Spratt, Assistant Director, Division of Investment Management, Disclosure Review Office

Panel II: Fees and Expenses Impacting Retail Investors

• Reviewing how the fiduciary standard relates to fees and expenses
• Disclosing, mitigating and managing conflicts of interest (e.g., allocation and layering of fees and expenses)
• Operating business models that may create increased risks that investors will pay excessive and/or inadequately disclosed fees, expenses or other charges.

Speakers

• Louis Gracia, Deputy Associate Regional Director, National Exam Program, Chicago Regional Office (Moderator)
• Adam Aderton, Assistant Director, Division of Enforcement, Asset Management Unit
• Jennifer Porter, Branch Chief, Division of Investment Management, Investment Adviser Regulation Office
• Nicole Tremblay, Senior Vice President and Chief Compliance Officer, Weston Financial

Panel III: Emerging Trends in Portfolio Management

• Exploring the impact of FinTech (e.g., process automation and big data analytics)
• Changing wealth management practices (e.g., increased use of portfolio modeling)
• Embracing risk management frameworks, implementing stress testing methodologies, and managing liquidity

Speakers

• Carolyn O’Brien, Senior Staff Accountant, National Exam Program, National Exam Program Office (Moderator)
• Benjamin Alden, General Counsel, Betterment LLC
• Michelle McCarthy Beck, Chief Risk Officer, TIAA-CREF Investment Management Inc
• Barbara Gunn, Assistant Director, Division of Enforcement, Asset Management Unit, Fort Worth Regional Office
• Timothy Husson, Associate Director, Division of Investment Management, Analytics Office

Question & Answer Session 2
Speakers

• William Delmage, Assistant Regional Director, National Exam Program, New York Regional Office (Moderator)
• Ahmed Abdul-Jaleel, Assistant Regional Director, National Exam Program, Chicago Regional Office
• Adam Aderton, Assistant Director, Division of Enforcement, Asset Management Unit
• Diane Blizzard, Associate Director, Division of Investment Management, Rulemaking Office
• Mark Dowdell, Assistant Regional Director, National Exam Program, Philadelphia Regional Office
• Craig Ellis, Exam Manager, National Exam Program, Denver Regional Office
• Douglas Scheidt, Chief Counsel, Division of Investment Management Kristin Snyder, Co-National Associate Director, National Exam Program, San Francisco Regional Office

Panel IV: Regulatory Hot Topics

• Custody
• Business continuity (lessons learned from natural disasters)
• Initial Coin Offerings and cryptocurrencies
• MiFID

Speakers Daniel Kahl,

• Chief Counsel, National Exam Program (Moderator)
• David Bartels, Senior Special Counsel to the Director, Division of Investment Management
• Steven Felsenthal, General Counsel & Chief Compliance Officer, Millburn Ridgefield Corp
• Ryan Hinson, Regulatory Counsel, National Exam Program, Los Angeles Regional Office
• Corey Schuster, Assistant Director, Division of Enforcement, Asset Management Unit
• Marshall Sprung, Managing Director & Head of Global Compliance, Blackstone

Panel V: Cybersecurity

• Reviewing current cybersecurity threats affecting investment management firms
• Understanding the legal landscape
• Highlighting effective industry practices

Speakers

• David Joire, Senior Special Counsel, Division of Investment Management, Chief Counsel’s Office (Moderator)
• Keith Cassidy, Associate Director, National Exam Program, Technology Controls Program (TCP)
• Robert Cohen, Chief, Division of Enforcement, Cyber Unit
• Shamoil Shipchandler, Regional Director, Fort Worth Regional Office
• Steven Yadegari, Chief Operating Officer & General Counsel, Cramer Rosenthal McGlynn LLC

Panel VI: Observations on Ways to Improve Compliance

• Reviewing recent enforcement cases and lessons learned about firms’ compliance programs
• Educating and monitoring supervised persons
• Strengthening disclosures and transparency
• Keeping up with regulatory and internal reporting

Speakers

• Donna Esau, Associate Regional Director, National Exam Program, Atlanta Regional Office (Moderator)
• Marshall Gandy, Associate Regional Director, National Exam Program, Fort Worth Regional Office
• Martin Kimel, Senior Special Counsel, Division of Investment Management, Enforcement Liaison Office
• Joseph McGill, Chief Compliance Officer, Lord Abbett & Co LLC
• Brendan McGlynn, Assistant Director, Division of Enforcement, Asset Management Unit, Philadelphia Regional Office

Closing Remarks
Speaker

• Donna Esau, Associate Regional Director, National Exam Program, Atlanta Regional Office
• Marshall Gandy, Associate Regional Director, National Exam Program, Fort Worth Regional Office