Key Regulatory Issues for Advisers Trading Derivatives


Webinar: Key Regulatory Issues for Advisers Trading Derivatives

Wednesday, May 15, 2013, 1:00 pm - 2:30 pm ET


  • Susan C. Ervin, Partner, Davis Polk & Wardwell LLP
  • Predrag Rogic, Senior Legal Counsel, T. Rowe Price Associates, Inc.
  • Karen L. Barr, General Counsel, IAA (Moderator)

Topics Covered

Many investment advisers that trade derivatives or other commodities have been focused on CPO/CTA requirements or exemptions. Beyond these requirements, however, the Dodd-Frank Act has significant implications for advisers trading derivatives. These advisers must become familiar with new reporting, clearing, trading, documentation, and margin requirements in the U.S. Advisers trading with non-U.S. counterparties must also be aware of non-U.S. regulation governing derivatives trades, including EMIR (European Markets Infrastructure Regulation). Topics include:

  • Swaps data reporting, clearing and trading
  • Margin requirements
  • Business conduct and documentation rules/ISDA protocols
  • Recordkeeping
  • Position limits
  • Large trader requirements
  • EMIR
  • Risk assessment and practical challenges for advisers


Registration for the live webinar has closed. To purchase a recording of this webinar, please select the "Registration" link on the left side of this page. The recording costs $125 for an IAA member or associate member and $200 for a non-member. If you have any questions, please contact the IAA events team at or (202) 293-4222.

About the Presenters

Susan C. Ervin is a partner in Davis Polk’s Financial Institutions Group. She has a unique combination of direct CFTC and SEC regulatory and private practice experience in futures, commodities and derivatives, including the new swaps regulatory requirements. Ms. Ervin spent 15 years as an attorney for the Commodity Futures Trading Commission (CFTC), the last 10 of which she served in a senior capacity as Deputy Director and Chief Counsel of the CFTC’s Division of Trading and Markets. She left the CFTC at the end of 1997 to reenter private practice, where she also advised on derivatives matters and transactions, including the derivatives activities of investment companies. In 2009, she returned to the public sector as an Attorney Fellow/Senior Advisor at the U.S. Securities and Exchange Commission.

Predrag Rogic is senior legal counsel in the Legal Department of T. Rowe Price, where he heads a group responsible for various transactional matters including derivatives, trading agreements, private placements, bank debt and other matters. Before joining T. Rowe Price, he practiced in the areas of derivatives and structured finance at Sidley Austin LLP in New York City. Some of his recent publications include “Position Limits for Commodity Derivatives Under Dodd-Frank,” Thomson Reuters Accelus, June 1, 2011, and “Recent Regulatory Developments Affecting Private Fund Managers,” Futures & Derivatives Law Report, April 2011.

Karen L. Barr is General Counsel of the Investment Adviser Association, a not-for-profit association that exclusively represents the interests of investment advisers registered with the SEC. Prior to joining the IAA in 1997, Ms. Barr was in private practice at Wilmer, Cutler & Pickering (now WilmerHale), where she represented clients with respect to SEC investigations, securities class action litigation, internal corporate investigations, and regulatory matters. Ms. Barr received her B.A., magna cum laude, from the University of Pennsylvania and her law degree, cum laude, from the University of Michigan Law School.

Cancellation or Substitution

For the live webinar, cancellations and substitutions must be received in writing no later than 5:00 pm ET Monday, May 13, 2013. There are no refunds for cancellations received after this date. Email your requests to