U.S. Securities & Exchange Commission
SEC Seal
Home | Previous Page
U.S. Securities and Exchange Commission

Roundtable on the Execution, Clearance and Settlement of Microcap Securities

Roundtable Agenda

U.S. Securities and Exchange Commission
100 F Street N.E. Washington, DC
Station Place I Multipurpose Room

October 17, 2011

1:00 p.m. Call to Order and Opening Remarks: Chairman Mary Schapiro and Robert Khuzami, Director of the Division of Enforcement
1:15 p.m.

Panel 1 — Compliance Challenges Associated with Microcap Securities

Moderator: Peter Curley, Associate Director, Division of Trading and Markets.


  • Claire Santaniello — Managing Director and Chief Compliance Officer, Pershing
  • Mihal Nahari — Chief Compliance Officer, The Depository Trust & Clearing Corporation (“DTCC”)
  • Thomas Merritt — Senior Managing Director, Deputy General Counsel and Corporate Secretary, Knight Capital Group
  • Steven Nelson — Chairman, Continental Stock Transfer and Trust Company
  • Marvin Pickholz — Partner, Duane Morris
  • Brian Lebrecht — Founder, The Lebrecht Group, APLC
  • David Chapman — Director, Department of Market Regulation, FINRA
2:15 p.m. Break
2:30 p.m.

Panel 2 — Anti-Money Laundering Monitoring

Moderator: Sarah Green, Bank Secrecy Act Specialist for the Office of Market Intelligence


  • Betty Santangelo — Partner, Schulte Roth & Zabel
  • Susan DeSantis — Managing Director and Deputy Chief Compliance Officer, DTCC
  • Lynne Johnston — US Head of Anti-Money Laundering Compliance, RBC Capital Markets
  • Harold Crawford — Global Director of Anti-Money Laundering & Sanctions, Brown Brothers Harriman & Co.
  • Aaron Fox — Managing Director, IPSA International Inc.
  • Jeff Horowitz — Managing Director and Chief Anti-Money Laundering and OFAC Officer, Pershing
  • Bill Park — Director, FINRA Department of Enforcement
3:30 p.m. Break
3:45 p.m.

Panel 3: Potential Changes to the Regulatory Framework Concerning Microcap Securities

Moderator: John Polise, Associate Director, Office of Compliance, Inspections and Examinations.


4:45 p.m. Concluding Remarks (John Polise)
5:00 p.m. End



Modified: 10/11/2011