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2023 Investment Adviser Compliance Conference

Agenda

All times are Eastern.

Sunday, March 12

Time Description
5:00 – 9:00 p.m.
Early Registration

Beat the morning rush. Check in tonight.

6:00 – 8:00 p.m.
Welcome Reception

Monday, March 13

Time Description
7:00 a.m. – 5:00 p.m.
Conference Registration/Exhibit Hall
7:00 – 8:30 a.m.
Continental Breakfast with Exhibitors

Find your old friends, make new ones, and get to know the exhibitors.

8:30 – 8:45 a.m.
Welcome Remarks
  • Larry Nakamura, Vice President, Head of U.S. Wealth Compliance, CI Private Wealth US, LLC; Chair, Conference Planning Committee
  • Karen L. Barr, President & CEO, Investment Adviser Association
8:45 – 9:15 a.m.
GENERAL SESSION: Fireside Chat with SEC Commissioner
  • Karen L. Barr, President & CEO, Investment Adviser Association
9:20 – 9:50 a.m.
GENERAL SESSION: Diversity, Equity & Inclusion Best Practices in the Asset Management Industry

This expert panel will share strategies to develop and strengthen DE&I policies and procedures, measure progress and goals, and build an inclusive workforce that will benefit your clients.

9:50 – 10:15 a.m.
Networking Break
10:15 – 11:15 a.m.
GENERAL SESSION: Marketing Rule Lessons Learned

It’s been four months since you’ve implemented the new Marketing Rule. Hear from this expert panel about lessons learned so far and innovative ways advisers are taking advantage of the new rules for communicating with clients, prospective clients, and other investors. Discuss how firms are handling interpretive issues they continue to face.

  • Danielle Nicholson Smith, Vice President and Managing Legal Counsel – U.S. Communications and Digital Services, T. Rowe Price
  • Sanjay Lamba, Associate General Counsel, Investment Adviser Association (Moderator)
11:20 a.m. – 12:20 p.m.
Concurrent Compliance Breakout Sessions

Choose one of four sessions to attend. Video recordings of these breakout sessions will be provided.  

  • Identifying and Managing Conflicts of Interest
    This panel will address practices that advisers employ in identifying, managing, mitigating, and disclosing conflicts of interest and risks, as well as related compliance policies and procedures.

    • Lee Faria, Vice President and Chief Compliance Officer, Columbia Management Investment Advisers, LLC
    • Steve Farmer, Chief Compliance Officer, Confluence Investment Management, LLC
    • Marshall Sprung, Managing Director and Global Head of Compliance, Blackstone Inc.
    • David Bartels, Partner, Dechert LLP (Moderator)
  • Recordkeeping Obligations Around the Use of Personal Devices and Messaging Apps
    The panel will discuss the use and supervision of personal devices and messaging apps for business purposes and related compliance and recordkeeping practices, including lessons learned from SEC enforcement actions.

    • Kevin Spence, Director, Compliance Officer, TIAA
    • Adam Aderton, Partner, Willkie Farr & Gallagher (Moderator)
  • DOL Fiduciary Rule Under ERISA and Rollovers
    This panel will address how investment advice fiduciaries are dealing with challenges in complying with the DOL Fiduciary Exemption, PTE 2020-02, including best practices and documentation to consider in meeting requirements.

    • Kim Novotny, Senior Associate General Counsel, Franklin Templeton
    • Aliya Robinson, Senior Legal Counsel, Legislative and Regulatory Affairs, T. Rowe Price Associates, Inc.
    • Jennifer E. Eller, Principal, Groom Law Group, Chartered (Moderator)
  • Trading Issues for Advisers
    Learn how advisers handle best execution, soft dollars and the provision of research, MiFID II, trade aggregation and allocation, principal and cross trading, and margin. The panel will also discuss market structure issues for the buy side including the expected move to T+1 for trade settlements.
12:20 – 1:35 p.m.
Lunch: SEC Division of Investment Management
1:45 – 2:45 p.m.
Concurrent Compliance Breakout Sessions

Choose one of four sessions to attend. Video recordings of these breakout sessions will be provided.

  • Considerations for Retail Clients, Including Senior Investors
    Obtain guidance on policies, procedures, and training, including contracts, disclosure, implementing investment strategies, and business development. Tackle contractual and operational steps to prepare for any concerns with senior or diminished capacity clients.

    • Michelle L. Jacko, Managing Partner and CEO, Jacko Law Group PC (Moderator)
  • Considerations for Institutional Clients
    Panelists will discuss regulatory topics of interest for advisers with institutional clients, including special issues raised by international, governmental, and ERISA clients and offering new asset classes. The panel will address the request for proposal (RFP) process, client investment policies, and other challenges in this space.

    • Lori Bosi, Senior Director of Investment Compliance, MFS Investment Management
    • Michael Shoemaker, Chief Compliance Officer, Kayne Anderson Rudnick
    • Clifford Kirsch, Partner, Eversheds Sutherland LLP (Moderator)
  • Managing Private Equity Funds and the SEC’s Private Fund Adviser Rulemaking
    This panel will cover developments and trends in private equity funds, including monitoring fees and expenses, valuation, side letter provisions, limitation of liability and indemnification provisions, compliance policies and procedures, conflicts of interest, and more. Hear about priorities of the Private Funds Unit in the SEC Division of Examinations.

    • Alpa Patel, Partner, Kirkland & Ellis LLP (Moderator)
  • Managing Registered Investment Companies: Adviser and Sub-Adviser Considerations
    Discuss SEC regulations and guidance affecting advisers and sub-advisers of registered funds, including the 15(c) process, the fair valuation and derivatives rules, and the SEC’s rule proposal on swing pricing and liquidity.

    • George B. Raine, Partner, Ropes & Gray LLP (Moderator)
2:45 – 3:00 p.m.
Networking Break
3:00 – 4:00 p.m.
GENERAL SESSION: Cybersecurity and Data Privacy

Keep apprised of the latest cybersecurity and data privacy updates. Learn how to proactively improve cyber hygiene and risk governance through information security and operational resiliency to protect your firm. Hear the latest on the SEC’s proposed cybersecurity risk management rules and approaches to complying with the myriad data privacy laws.

  • Maria Chambers, Chief Compliance Officer, Klingenstein Fields Advisors
  • Jacob Prudhomme, Financial Services, Advisory, KPMG US
4:00 – 5:00 p.m.
GENERAL SESSION: ESG Investing

Investor demand for investment products and financial services that incorporate environmental, social, and governance (ESG) investing factors continues to grow. Hear the latest on best practices for ESG investing and related compliance programs. Consider how the latest moves by the SEC and other regulators will impact your firm.

5:00 – 5:10 p.m.
Recap and What to Expect on Day 2
5:10 – 7:00 p.m.
Cocktail Reception

Tuesday, March 14

Time Description
7:00 a.m. – 4:00 p.m.
Conference Registration/Exhibit Hall
7:00 – 8:00 a.m.
Compliance for Breakfast

Share information with your peers about best practices from your compliance program and the role of compliance in your firm. Choose a table with a topic that interests you:

  • Compliance Testing and Annual Reviews
  • Marketing and Endorsements
  • Cybersecurity
  • New CCOs
  • Digital Assets
  • Private Funds
  • ESG Investing
  • Small Firms
  • International
  • Third-Party Oversight
8:00 – 8:55 a.m.
GENERAL SESSION: Ethics for Advisers: Compliance with Fiduciary Standards – Part 1

An adviser’s code of ethics reflects its fiduciary obligation to its clients. Discuss codes of ethics requirements and best practices for monitoring, testing, administering, and enforcing these policies. This session is approved for one hour of IACCP® continuing education ethics credit.

  • Anil Abraham, Associate General Counsel, Managing Director – Legal, Focus Financial Partners, LLC
  • Ivy Wafford Duke, Chief Compliance Officer, National Real Estate Advisors, LLC
  • Kurt Wachholz, Managing Director, Bates Compliance
  • Patrick D. Hayes, Partner, Calfee (Moderator)
9:00 – 9:50 a.m.
GENERAL SESSION: Hot Topics from Inside the Beltway

Gain insights into the latest regulatory and legislative landscape affecting investment advisers and the IAA’s current policy priorities.

  • Langston Emerson, Partner, Mindset
  • Bret Hester, EVP & General Counsel, TIAA
  • Neil A. Simon, Vice President, Government Relations, Investment Adviser Association
  • Karen L. Barr, President & CEO, Investment Adviser Association, Moderator
9:50 – 10:00 a.m.
Networking Break
10:00 – 11:00 a.m.
GENERAL SESSION: SEC Examination Trends

Panelists will share insights about recent SEC examinations: trends, common deficiencies, recent focus areas, and what to expect when you’re examined.

11:00 – 11:15 a.m.
Networking Break
11:15 a.m. – 12:15 p.m. Concurrent Compliance Breakout SessionsChoose one of four sessions to attend. Video recordings of these breakout sessions will be provided. 

  • Compliance Testing and Use of Technology
    As the use of technology in the investment process and compliance continues to surge, compliance officers need tools to oversee, monitor, and test compliance in an ever-growing number of areas. The panel will discuss how firms use technology for compliance testing and monitoring and how to keep your compliance testing innovative, adaptable, and relevant. 

    • Wei Zhao, Chief Compliance Officer, Fiera Capital, Inc.
    • Alan Goldberg, Partner, Stradley Ronon Stevens & Young, LLP (Moderator)
  • Marketing Rule: Performance
    The panel will discuss performance marketing materials, including 1-, 5-, and 10-year results, gross and net returns, understanding the methodologies around related, extracted, and hypothetical performance, portability of predecessor performance, the interplay between the GIPS standards and the new Marketing Rule, and recordkeeping rules. 
  • Prevention of Misuse of MNPI and Insider Trading: Alternative Data and Expert Networks
    This panel will discuss how to design reasonable policies and procedures for the protection and use of nonpublic information, including dealing with onboarding and diligence processes for alternative data services and relationships with expert network consultants.

    • Paul M. Miller, Partner, Seward & Kissel LLP
    • Steven Yadegari, Founder and CEO, FiSolve, LLC
    • Pamela Krill, Partner, Godfrey & Kahn, S.C. (Moderator)
  • Considerations for Investing in Digital Assets for Clients
    This panel will discuss the legal and compliance issues around investing in digital assets, including portfolio management, trading venues and settlement, custody, risk management, disclosure, valuation, RAUM calculations, and recordkeeping.

    • Tanya Kerrigan, General Counsel, Eaglebrook Advisors
12:15 – 1:40 p.m.
Lunch: A Conversation with SEC Division of Examinations and Division of Enforcement
1:45 – 2:45 p.m.
Concurrent Compliance Breakout Sessions

Choose one of three sessions to attend. Video recordings of these breakout sessions will be provided. 

Internal and External Supervision: Oversight of Third-Party Service Providers and Employees

Join these breakout panels to hear the latest on best practices for initial and ongoing due diligence and monitoring of outsourcing to third-party service providers and oversight of supervised persons of the adviser. Learn also about the SEC’s proposed requirements for outsourcing “covered functions” to service providers.

  • Breakout 1: Small Firm
    • Kelley A. Howes, Partner, Morrison & Foerster
    • Erik Olsen, Chief Compliance Officer, Vident Investment Advisory, LLC
    • Laura Grossman, Associate General Counsel, Investment Adviser Association (Moderator)
  • Breakout 2: Medium Firms
    • Larry Nakamura, Vice President, Head of U.S. Wealth Compliance, CI Private Wealth US, LLC
    • Mari-Anne Pisarri, Partner, Pickard Djinis & Pisarri LLP
    • Khaley Sestak, Chief Compliance Officer, Betterment LLC
    • Monique Botkin, Associate General Counsel, Investment Adviser Association (Moderator)
  • Breakout 3: Large Firms
    • Jeff Blumberg, Partner, Faegre Drinker Biddle & Reath LLP
    • Dianne Descoteaux, Associate General Counsel, Investment Adviser Association (Moderator)
2:50 – 3:50 p.m.
Ethics for Advisers: Compliance with Fiduciary Standards – Part 2

An adviser’s code of ethics reflects its fiduciary obligation to its clients. This panel will discuss the protection of material nonpublic information (MNPI) and prevention of insider trading, whistleblower policy issues and scenarios, and best practices for monitoring, testing, administering, and enforcing these policies. This session is approved for one hour of IACCP® continuing education ethics credit.

  • Laurin (Laurie) Blumenthal Kleiman, Partner, Sidley Austin LLP
  • Karen Aspinall, Partner, Practus, LLP (Moderator)
3:50 – 4:00 p.m.
Closing Remarks and Conference Adjournment
  • Larry Nakamura, Vice President, Head of U.S. Wealth Compliance, CI Private Wealth US, LLC; Chair, Conference Planning Committee
  • Karen L. Barr, President & CEO, Investment Adviser Association

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