SEC to Hold National Compliance Outreach Seminar for Investment Companies and Investment Advisers
Original Press Release:
https://www.sec.gov/news/press-release/2018-17
FOR IMMEDIATE RELEASE
2018-17
Washington D.C., Feb. 13, 2018 —
The Securities and Exchange Commission today announced the opening of registration for its compliance outreach program’s national seminar for investment companies and investment advisers. The event is intended to help Chief Compliance Officers (CCOs) and other senior personnel at investment companies and investment advisory firms to enhance their compliance programs for the protection of investors.
The SEC’s Office of Compliance Inspections and Examinations (OCIE), Division of Investment Management (IM), and the Asset Management Unit (AMU) of the Division of Enforcement jointly sponsor the compliance outreach program. The national seminar will be held on April 12 at the SEC’s Washington, D.C., headquarters from 8:30 a.m. to 5:30 p.m. ET. In-person attendance is limited to 500; a live webcast will be available at www.sec.gov.
The agenda for the national seminar includes discussion of OCIE, IM, and AMU program priorities in 2018, issues related to fees and expenses, portfolio management trends, regulatory hot topics, cybersecurity, compliance, and rulemaking.
“Regularly hosting this seminar is one of the key ways we work to improve compliance in the industry,” said OCIE Director Peter Driscoll. “The U.S. capital markets are among the most vibrant, fair, and effective in the world in large part because of the important work that compliance professionals do on a daily basis to ensure risks are addressed, securities laws are followed, and investors are protected. This event allows us to share our thoughts and observations with these professionals and to listen to the ideas and concerns they want to share with us.”
“Chief Compliance Officers and their teams play an important role in protecting American investors, a goal that the SEC staff shares. This outreach event is a valuable opportunity to engage and build relationships with these knowledgeable professionals so that we may benefit from their insights as we consider policies affecting investment companies and investment advisers,” said Division of Investment Management Director Dalia Blass.
Investment adviser and investment company senior officers may register online to attend the event in-person. If registrations exceed capacity, investment company and investment adviser CCOs will be given priority on a first-registered basis. Registration instructions also will be sent to SEC-registered advisers using the e-mail account on the adviser’s most recent Form ADV filing. The event will also be made available via live and archived audio webcast. For more information, contact: [email protected] .
Agenda
(Targeted Discussions For Larger Firms)
April 12, 2018
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7:30 am
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Registration Opens |
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8:30 am
to
8:40 am
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Welcoming Remarks |
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8:40 am
to
9:10 am
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Introductory Remarks from SEC Directors |
|
9:10 am
to
10:20 am
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Panel I: Insights from SEC Leadership Regarding Program Priorities*
- Update on certain National Exam Initiatives
- Fiscal year 2018 priorities
- Update on certain fiscal year 2017 priorities
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|
10:20 am
to
10:45 am
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Question & Answer Session 1 |
|
10:45 am
to
11:00 am
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Break (Q & A Session 1 May Continue Through the Break) |
|
11:00 am
to
12:00 pm
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Panel II: Fees and Expenses Impacting Retail Investors
- Reviewing how the fiduciary standard relates to fees and expenses
- Disclosing, mitigating and managing conflicts of interest (e.g., allocation and layering of fees and expenses)
- Operating business models that may create increased risks that investors will pay excessive and/or inadequately disclosed fees, expenses or other charges
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12:00 pm
to
1:15 pm
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Lunch Break |
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1:15 pm
to
2:00 pm
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Panel III: Emerging Trends in Portfolio Management
- Exploring the impact of FinTech (e.g., process automation and big data analytics)
- Changing wealth management practices (e.g., increased use of portfolio modeling)
- Embracing risk management frameworks, implementing stress testing methodologies, and managing liquidity
|
|
2:00 pm
to
2:30 pm
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Question & Answer Session 2 |
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2:30 pm
to
2:45 pm
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Break (Q & A Session 2 May Continue Through the Break) |
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2:45 pm
to
3:45 pm
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Panel IV: Regulatory Hot Topics
- Custody
- Business continuity (lessons learned from natural disasters)
- Initial Coin Offerings and cryptocurrencies
- MiFID
|
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3:45 pm
to
4:30 pm
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Panel V: Cybersecurity
- Reviewing current cybersecurity threats affecting investment management firms
- Understanding the legal landscape
- Highlighting effective industry practices
|
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4:30 pm
to
5:25 pm
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Panel VI: Observations on Ways to Improve Compliance
- Reviewing recent enforcement cases and lessons learned about firms’ compliance programs
- Educating and monitoring supervised persons
- Strengthening disclosures and transparency
- Keeping up with regulatory and internal reporting
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5:25 pm
to
5:30 pm
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Closing Remarks |
