While tokenization does not alter an investment adviser’s existing fiduciary obligations under the Advisers Act, it presents novel operational, technological, legal, and regulatory considerations. Join this expert panel for a practical discussion of recent developments for tokenized securities, as traditional and on-chain finance converge. This webinar will examine SEC interpretive guidance on tokenization models, the innovation exemption, and evolving market structure, as well as opportunities for issuers such as registered and private funds. Panelists will also discuss how tokenized securities intersect with core adviser responsibilities, including custody and blockchain wallets, trading and execution, disclosure, valuation, proxy voting, recordkeeping, and related compliance issues.
Register NowTokenization of Securities: What Advisers Need to Know
October 28, 2026 from 1:00 PM to 2:00 PM (ET)
If you have questions about this webinar or need help registering, please contact Mike Zapata at mike.zapata@investmentadviser.org.
Webinar Speakers
J. Michael Bresnahan is a partner at Foley & Lardner LLP and a member of the firm’s Fund Formation & Investment Management Practice. He counsels fund managers on the formation, structuring, and operation of private equity, private credit, venture capital, real estate, and hedge funds, including general partner and management company structuring, side letter negotiations, secondary sales, and Investment Advisers Act registration and compliance. Bresnahan regularly advises exchanges, investment firms and digital asset (crypto) issuers on securities regulations, capital raising, product launch, offshore structuring, and corporate governance matters. He holds a B.S. from Indiana University Bloomington, an MBA from Loyola University Chicago Quinlan School of Business, and a J.D., cum laude, from Loyola University School of Law
Brenden Carroll is a partner in Dechert’s financial services group. He represents investment advisers and U.S. registered investment companies in a wide variety of regulatory, transactional, and compliance matters, including the development and launch of new fund products, including “tokenized” registered and private funds, “funds of funds,” and funds that incorporate ESG factors into their investment processes. He also advises clients on seeking exemptive, interpretive and no-action relief (including novel relief) from the SEC and in SEC examination and enforcement matters. He advised the first ever U.S. registered mutual fund that tokenized its shares on a public blockchain. Carroll holds a B.A. in economics from University of Colorado at Boulder and a J.D. from Georgetown University Law Center.
Todd Kuehl is head of compliance, Americas, at Invesco Ltd. He has more than 25 years of experience in securities regulation, investment management, and compliance leadership. Prior to joining Invesco, Kuehl served as managing director and chief compliance officer at Legg Mason. Earlier in his career, he served as a branch chief in the SEC Division of Investment Management and held leadership positions at Deutsche Asset Management. He is also an adjunct professor at Emory University School of Law, where he teaches Digital Asset Regulation. Kuehl holds a B.S. in Finance from the University of Maryland Smith School of Business, a J.D. from the University of Maryland School of Law, and an LL.M. in Securities and Financial Regulation from Georgetown University Law Center.
Aaron Miller is senior regulatory counsel at Broadridge Financial Solutions, Inc. In his current role, he is focused on regulatory matters related to Broadridge’s broker-dealer, tokenization, and digital asset products. Prior to joining Broadridge, he was assistant general counsel in JPMorgan’s Commercial & Investment Bank, special counsel at the CFTC, and an associate at Cahill, Gordon & Reindel. Miller holds a J.D. from the University of Pennsylvania, and a B.A. in Economics from Syracuse University.
Monique S. Botkin is associate general counsel of the IAA. Prior to joining the IAA in 2004, she was an associate in the financial services groups at Dechert LLP in Newport Beach, California, and Alston & Bird LLP in Washington, DC. While in private practice, Botkin represented investment advisers, registered investment companies, private funds, and broker-dealers in corporate, securities and investment management matters. Botkin also served as an attorney in the SEC’s Division of Investment Management disclosure review office from 2013 to 2014. She earned her B.A. in government and politics from the University of Maryland at College Park and her J.D., cum laude, from Southwestern University School of Law in Los Angeles, where she was an editor of the Law Review.