2021 Compliance Conference

Agenda

Wednesday, March 3, 2021

(All times are Eastern)

10:00am – 6:00pm	Exhibit Hall Open
11:00am – 12:00pm	Optional Session: Ethics for Advisers – Part 1 This session is approved for one hour of IACCP® continuing education ethics credit. An adviser’s code of ethics reflects its fiduciary obligation to its clients. Discuss codes of ethics, and related policy issues and scenarios, and best practices for monitoring, testing, administering and enforcing these policies. Kevin Ehrlich, Manager, U.S. Regulatory Affairs & CCO, Western Asset Management Company Gretchen E. Lee, Chief Compliance Officer, Clifford Swan Investment Counselors Kurt Wachholz, IACCP, Executive Consultant and Director of Education, National Regulatory Services Sara Crovitz, Partner, Stradley Ronon Stevens & Young, LLP, MODERATOR
12:05 – 12:15pm	Welcome Remarks Jon K. Hadfield, Chief Compliance Officer, Vanguard Global Advisers, LLC, Conference Chair Karen L. Barr, President & CEO, Investment Adviser Association
12:20 – 1:05pm	GENERAL SESSION: Hot Topics from Inside the Beltway Hear about what’s happening on Capitol Hill, the change in Administration, and noteworthy regulatory developments. Rana Wright, Partner, Chief Administrative Officer and General Counsel, Harris Associates, L.P. Langston Emerson, Partner, Mindset DC Neil Simon, Vice President, Government Relations, Investment Adviser Association Karen L. Barr, President & CEO, Investment Adviser Association, MODERATOR
1:05 – 1:30pm	Break
1:30 – 2:15pm	GENERAL SESSION: Investment Management: A Conversation with SEC Acting Director Sarah ten Siethoff, with Gail Bernstein, IAA General Counsel Followed by a Conversation with Dr. Alexander Schiller, Assistant Director of the Office of Asset Management, SEC Division of Economic and Risk Analysis
2:20 – 2:50pm	Diversity, Equity, and Inclusion in the Investment Management Industry Featuring a panel of IAA members sharing stories and suggestions for how we can all contribute to making the profession more diverse, equitable, and inclusive. Robert E. Burks, Jr., Chief Compliance Officer, Brown Capital Management, LLC Carlotta King, General Counsel and Corporate Secretary, Diamond Hill Capital Management, Inc. Hope L. Newsome, Managing Partner, Virtus LLP, MODERATOR
2:50 – 3:15pm	Break
3:15 – 4:15pm	Concurrent Breakout Sessions Choose one of four sessions to attend. Video recordings of these breakout sessions will be available online to conference attendees shortly after the conference. Risk Management for Larger Firms Hear how compliance and legal professionals at larger firms can learn the advisory business from portfolio managers, traders, and other operations colleagues. Learn tips for working with business managers – your first line of defense – and becoming better partners in strategic risk management. Discuss dealing with tension between different risk appetites. Consider circumstances that contribute to or mitigate CCOs’ personal liability. Gain ideas for handling flat or shrinking compliance budgets in an era of extended market volatility and contracting revenues. Jon K. Hadfield, Chief Compliance Officer, Vanguard Global Advisers, LLC Rosa Licea-Mailloux, Vice President, Director of Corporate Compliance, MFS Investment Management Melissa Schiffman, Compliance Manager and Vice President, J.P. Morgan Asset Management Carlo di Florio, Partner and Global Chief Services Officer, ACA Compliance Group Karen A. Aspinall, Partner, Practus, LLP, MODERATOR Risk Management for Smaller Firms Hear how compliance and legal professionals at smaller firms can learn the advisory business from portfolio managers, traders, and other operations colleagues. Learn tips for working with business managers – your first line of defense – and becoming better partners in strategic risk management. Discuss dealing with tension between different risk appetites. Consider circumstances that contribute to or mitigate CCOs’ personal liability. Gain ideas for handling flat or shrinking compliance budgets in an era of extended market volatility and contracting revenues. Geoffrey Edelstein, Co-Founder, Principal & Portfolio Manager, Granite Investment Partners, LLC Sarah Ronnenberg, IACCP, Compliance Director, Horizon Investments, LLC Neshie Tiwari, Former Chief Compliance Officer and Counsel, Ellevest, Inc. Linda Paullin-Hebden, Partner, Warner Norcross & Judd LLP, MODERATOR ERISA Updates The Department of Labor has been very active in adopting rules and guidance that impact investment advisory firms, not without controversy. Topics will include the DOL’s ESG and proxy voting rulemakings, the new fiduciary exemption, and other ERISA issues facing investment adviser fiduciaries. Kimberly H. Novotny, Senior Associate General Counsel, Franklin Templeton Kathy D. Ireland, Consultant, K.D. Ireland Consulting, LLC Bradford P. Campbell, Partner, Faegre Drinker Biddle & Reath LLP Sarah Buescher, Associate General Counsel, Investment Adviser Association, MODERATOR International Developments Explore hot topics on the international front, including Brexit implications, the EU’s new ESG regulatory framework, the EU Shareholder Rights Directive, and EU delegation rules. Hear compliance strategies to help firms operating in multiple countries. Tracy Soehle, Senior Vice President and Senior Counsel, Affiliated Managers Group, Inc. Daniel Worthington, Vice President, Legal Counsel, T. Rowe Price Michelle Kirschner, Partner, Gibson, Dunn & Crutcher UK LLP, MODERATOR
4:20 – 5:00pm	Virtual Happy Hour

Thursday, March 4

(All times are Eastern)

10:00am – 6:00pm	Exhibit Hall Open
11:00am – 12:00pm	Optional Session: Ethics for Advisers – Part 2 This session is approved for one hour of IACCP® continuing education ethics credit. 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. Eric C. (“Rick”) Oppenheim, General Counsel & Chief Compliance Officer, Telemus Capital, LLC L. Allison Charley, Senior Principal Consultant, ACA Compliance Group Kurt Wachholz, IACCP, Executive Consultant and Director of Education, National Regulatory Services Genna Garver, Partner, Troutman Pepper Hamilton Sanders LLP, MODERATOR
12:05 – 12:35pm	GENERAL SESSION: Conversations with the Division of Examinations Director and the Division of Enforcement’s Asset Management Unit Co-Chiefs, with Gail Bernstein, IAA General Counsel Peter Driscoll, Director, SEC Division of Examinations
12:35 – 1:05pm	Adam S. Aderton, Co-Chief, Asset Management Unit, SEC Division of Enforcement C. Dabney O’Riordan, Co-Chief, Asset Management Unit, SEC Division of Enforcement
1:05 – 1:30pm	Break
1:30 – 2:30pm	GENERAL SESSION: Tips and Trends to Help Advisers Prepare for SEC Examinations In addition to going over the SEC exam process and providing tips for preparing to be examined, the panel will help you understand exam trends in the COVID environment, common deficiencies, recent focus areas, and what to expect when examiners look at Form CRS and LIBOR issues. Anil Abraham, Associate General Counsel, Managing Director – Legal, Focus Financial Partners, LLC Kristin A. Snyder, Deputy Director, Co-National Associate Director and Associate Regional Director, SEC Division of Examinations Michelle L. Jacko, CSCP, Managing Partner and CEO, Jacko Law Group, PC, and Founder and CEO, Core Compliance & Legal Services, Inc. Mark Perlow, Partner, Dechert LLP, MODERATOR
2:30 – 2:45pm	Break
2:45 – 3:45pm	Concurrent Breakout Sessions Choose one of four sessions to attend. Video recordings of these breakout sessions will be available online to conference attendees shortly after the conference. ESG Investing and Implementation Environmental, Social, and Governance investing has become a significant area of focus for regulators, investment advisers, and their clients. Topics will include recent regulatory activity related to ESG investing and issues advisers need to consider in developing an ESG strategy, including how to define ESG, understanding how your firm collects and discloses ESG data, and oversight of compliance policies and procedures. Anthony Eames, Director, Responsible Investment Strategy, Calvert Research and Management Sean Murphy, Vice President, EIG Global Energy Partners Bob Toner, Chief Legal Counsel – Investment Management, William Blair Investment Management, LLC Gwendolyn A. Williamson, Partner, Perkins Coie, MODERATOR Adapting Technology to Improve Compliance Efficiency and Results Adding efficiency to often manually intensive efforts can be a more efficient use of resources and bring better results, including enhancing the review of communications. Hear how firms have adapted their use of technology to compliance in remote working environments, as well as how firms may be addressing data sharing and aggregation for clients. Panelists will identify “CompliTech” and “RegTech” uses that support the administration of compliance programs, such as trading oversight and overall workflow improvements. Learn also about the SEC’s new Strategic Hub for Innovation and Financial Technology (FinHub). Alexander C. Gavis, Senior Vice President and Deputy General Counsel, Fidelity Investments Jennifer B. McHugh, Senior Special Counsel, SEC Division of Investment Management Disclosure Review and Accounting Office, and Division of Investment Management Delegate to FinHub Keith Marks, Executive Director, Compliance Solutions Strategies Michael S. Didiuk, Partner, Perkins Coie LLP, MODERATOR Trading, Best Execution, and the Future of Soft Dollars Investment advisers’ trading practices are evolving. Examine the increasingly complex legal and compliance issues related to the duty to seek best execution, soft dollars and the provision of research, MiFID II, trade aggregation and allocation, and principal and cross trading. Explore hot topics including the move to zero commissions and disclosure practices. Lori Renzulli, Chief Compliance Officer & Chief Counsel, Harding Loevner LP Ari Burstein, President, Capital Markets Strategies Steven W. Stone, Partner, Morgan, Lewis & Bockius LLP Monique Botkin, Associate General Counsel, Investment Adviser Association, MODERATOR COVID-19 Impacts In light of COVID-19’s unprecedented disruptions to advisory businesses, explore compliance lessons learned. This panel will address BCP, HR, tax, privacy, supervision, recordkeeping of virtual meetings and communications, vendor due diligence, office reopening issues, and policies governing employees who will remain working remotely. Lee Faria, Chief Compliance Officer and Vice President, Columbia Management Investment Advisers, LLC Christopher Hayes, Principal and Chief Compliance Officer, 1919 Investment Counsel, LLC Jennifer L. Klass, Partner, Baker McKenzie Laura Grossman, Associate General Counsel, Investment Adviser Association, MODERATOR
3:50 – 4:30pm	Virtual Happy Hour

Friday, March 5

(All times are Eastern)

10:00am – 6:00pm	Exhibit Hall Open
11:00 – 11:50am	Optional Session: Service Provider Solutions Choose one of four sessions to attend. Video recordings of these breakout sessions will be available online to conference attendees shortly after the conference. GameStop, Reddit, What’s Next? Oh My! *Sponsored by Bates Compliance* The frenzy in GameStop and AMC Entertainment Holding stocks has caused firms to pause and regulators to scrutinize practices to protect investors. Should we expect more online forum fueled frenzies? How should compliance prepare and address for this new reality?Join us as we walk through the GameStop frenzy: What happened exactly? What are the after effects? What are regulators saying? What should investment advisers do to prepare and protect their firm and clients going forward? Linda Shirkey, Managing Director, Bates Compliance, Bates Group Alex Russell, Managing Director & Practice Leader, White Collar, Regulatory & Internal Investigations, Bates Group Robert E. Burks, Jr., Chief Compliance Officer, Brown Capital Management, LLC A. Valerie Mirko, Partner, Baker McKenzie LLP Investment Advisory Firm Insights from Broadridge Fi360 Solutions Attendees will receive information on insights, observations and trends based on key findings from our Centre for Fiduciary Excellence (CEFEX®) assessment data report on investment advisory firms. CEFEX® conducts hundreds of independent, third-party assessments of investment advisory firms annually. Topics covered will include the following: Investment strategies Investment philosophy Target date funds 3(38) investment manager Data security Michael Muirhead, Senior Director, Learning & Development, Fi360, A Broadridge Company SEC Hot Topic: Compliance Tips for Evaluating Your Firm’s Advisory Fees and Expenses Sponsored by Core Compliance & Legal Services, Inc.Advisory Fees and Expenses continue to remain a top SEC examination focus area. In its 2018 Risk Alert, “The Most Frequent Advisory Fee and Expense Compliance Issues Identified in Examinations of Investment Advisers,” the SEC provided guidance on compliance advisory fee issues identified in examinations, which remain a concern today. In this session, we will review highlights from the Risk Alert, including disclosure considerations and exam observations. We will review what to expect in terms of examination questions and document requests. Using a case study, we will explore best practices and forensic testing methods that compliance should consider in evaluating your firm’s advisory fees and expense practices. We will also provide key takeaways and risk management tips to consider for 2021.By attending this session, you will learn about: The SEC’s guidance on the most common compliance issues involving advisory fees and expenses; Common exam document requests; Best practices and tips to consider for evaluating your firm’s advisory fees and expenses; and The latest SEC exam questions related to advisory fee structures. Michelle L. Jacko, CSCP, Managing Partner and CEO, Jacko Law Group, PC, and Founder and CEO, Core Compliance & Legal Services, Inc. Janice Powell, Senior Compliance Consultant, Core Compliance & Legal Services, Inc. Exam Deficiencies for Private Fund Advisers Sponsored by Foreside Private fund advisers face unique regulatory risks. In this session we’ll discuss common issues and deficiencies that fund advisers experience during SEC exams and practice tips to avoid them. Specific topics discussed will include conflicts of interest, allocation of fees/expenses, compliance programs, valuation, and Form ADV and Form PF filings. Curtis Flippen, Senior Director, Foreside Financial Group, LLC Craig Moreshead, Managing Director, Foreside Financial Group, LLC
12:00 – 12:30pm	GENERAL SESSION: Fireside Chat with SEC Commissioner The Honorable Hester M. Peirce, Commissioner, Securities and Exchange Commission Karen L. Barr, President & CEO, Investment Adviser Association
12:35 – 1:35pm	GENERAL SESSION: Cybersecurity and Data Privacy Keep apprised of the latest cybersecurity and data privacy updates. What are the takeaways from the Division of Examinations’ ransomware and credential stuffing Risk Alerts? In addition to California, what key state law developments should advisers watch out for? What are the prospects for national privacy legislation? What are some approaches to complying with a myriad of data privacy laws? Keith E. Cassidy, Associate Director, Technology Controls Program, SEC Division of Examinations Tess Macapinlac, Privacy Legal Associate, OneTrust Tim Villano, CISA, CISM, CGEIT, CRISC, Chief Information Officer, Artemis Global Security, LLC Kirk Nahra, Partner, WilmerHale, MODERATOR
1:35 – 1:50pm	Break
1:50 – 2:50pm	Concurrent Breakout Sessions Choose one of four sessions to attend. Video recordings of these breakout sessions will be available online to conference attendees shortly after the conference. Individual Clients: Retail and Senior Client Matters Obtain guidance on appropriate policies, procedures, and training in the areas of retail and senior clients. Discuss how to handle difficult situations involving problematic clients. Understand changes to solicitation and finders rules. Julius Leiman-Carbia, Chief Legal Officer & Chief Compliance Officer, Wealthfront Inc. David Wong, Chief Financial Officer & Chief Compliance Officer, Private Wealth Partners, LLC Joelle A. Simms, Principal, Bressler, Amery & Ross, P.C. Mari-Anne Pisarri, Partner, Pickard Djinis and Pisarri LLP, MODERATOR Private Equity Funds Update Address key regulatory issues for private equity fund advisers, including the impact of the new Marketing Rule, allocation of fees and expenses, conflicts of interest and disclosure, valuation, ESG, changes to solicitation and finders rules, and other legal and compliance issues unique to private equity fund advisers. Discuss initiatives in the Private Funds Unit of the Division of Examinations. Letti de Little, Chief Compliance Officer, Grain Management, LLC Alexandria Stuart, Vice President, Head of Compliance & Senior Counsel, Private Equity, Vista Equity Partners Igor Rozenblit, Co-Head, Private Funds Unit, SEC Division of Examinations Alpa Patel, Partner, Kirkland & Ellis LLP, MODERATOR Registered Funds: The Latest Developments Discuss SEC regulations and guidance affecting advisers and sub-advisers of registered funds, including the new fair valuation rule, the derivatives rule, and disclosure practices. J. Christopher Jackson, Senior Vice President & General Counsel, Calamos Investments LLC Naseem Nixon, Vice President and Associate Counsel, Capital Group Brian M. Johnson, Assistant Director, SEC Division of Investment Management Nathan Briggs, Partner, Ropes & Gray LLP, MODERATOR The Third Line of Defense: The Intersection of the Audit and Compliance Functions Understand internal audit practices and how auditors look at compliance functions. Discover how compliance can facilitate working with internal and external auditors. Discussion will include auditing during the pandemic, PCAOB priorities, SEC initiatives including the new fair valuation rule, and actions against accountants. Steve Perazzoli, Partner, PricewaterhouseCoopers LLP John E. (“Jack”) Thomas, Jr., Senior Vice President & Audit Director, Asset Management Group, PNC Daniel Goelzer, Member, Sustainability Accounting Standards Board, and Retired Partner, Baker McKenzie Paul Glenn, Special Counsel, Investment Adviser Association, MODERATOR
2:50 – 3:05pm	Break
3:05 – 4:20pm	GENERAL SESSION: The New Marketing Rule for Advisers Panelists will walk through the significant elements of the overhauled Advertising and Solicitation Rules, what those changes mean for advisers, and strategies for coming into compliance with new communication and recordkeeping requirements. Pamela F. Pendrell, Chief Compliance Officer/Partner, GlobeFlex Capital, L.P. Melissa Harke, Senior Special Counsel, SEC Division of Investment Management Michael W. McGrath, Partner, K&L Gates LLP Sanjay Lamba, Associate General Counsel, Investment Adviser Association, MODERATOR
4:20 – 4:30pm	Closing Remarks and Conference Adjournment

2021 Compliance Conference

Contact

Lisa Gillette
lisa.gillette@investmentadviser.org

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