FINRA Annual Conference

May 26-28, 2010
Baltimore Marriott Waterfront Hotel
Baltimore, MD

 

UPDATE: November 11, 2009 – The full conference agenda and session descriptions are now available. Register in 2009 to take advantage of reduced registration rates.

 

In today’s environment, compliance professionals, securities attorneys and other industry professionals are called upon to lead their firm’s process of revisiting, developing and implementing practices to protect investors. With that focus in mind, FINRA’s Annual Conference provides them with an important opportunity to compare regulatory and compliance solutions with financial services firm experts and peers, regulators, policymakers and other key industry mainstays.

 

The 2010 FINRA Annual Conference addresses the complex compliance, business and operational challenges firms face. Salient areas addressed during the conference include regulatory reform and refocused compliance priorities.

 

For 2010, the FINRA Annual Conference has been expanded to three days to cover core areas— including anti-money laundering, examination findings and focus, risk management, supervision and suitability—along with topics addressing the unique challenges of dually-registered IA-BD firms and BD-insurance affiliates. New for 2010, the conference will feature a CLE-eligible session on ethics. Office hours will also be available for one-on-one discussions with FINRA staff.

 

Make plans now to attend in May 2010.

 

Agenda

 

This agenda is current as of November 11. Updates will continue to be made as speakers are confirmed. Note that times are subject to change.

 

Wednesday, May 26
9:00 am - 7:00 pm	Registration
11:00 am - 11:20 am	Welcome Address
11:20 am - 12:30 pm	Plenary Session Industry Trends and Regulatory Reform FINRA's Chairman and CEO joins a distinguished panel of experts in a discussion of regulatory reform and key drivers shaping the industry. Panelists assess the current state of reform proposals and how the modernization of financial regulation and changes in market dynamics may impact industry and firm compliance efforts.
12:30 pm - 1:45 pm	Lunch
1:45 pm - 3:00 pm	Concurrent Sessions I Fraud Detection and Prevention Panelists from the PCAOB, SEC and industry address asset-theft and financial statement fraud. Topics include internal controls, internal audit procedures, red flag detection and fraud-prevention techniques. Panelists address how fraud prevention fits within a firm's overall risk management program and how to monitor potential areas for fraud. Product Oversight Financial and industry experts discuss product oversight practices related to vetting new products and re-assessing the risks for existing products in a changing environment. Panelists focus on the current proliferation of complex financial instruments, as well as their past experience with the changing risk profile of traditional products in reaction to market events. Topics include regulatory and compliance obligations and practices. Qualifications and Continuing Education Update FINRA staff and firm representatives discuss new initiatives in the qualifications and continuing education arena—including the redesigned industry Regulatory Element Program, revamped Series 7 content outline and new investment banking exam.
3:00 pm - 3:15 pm	Break
3:15 pm - 4:30 pm	Concurrent Sessions II Cyberfraud Panelists discuss what you need to know about potential security threats and cyberfraud, and the questions you should ask your technology staff, vendors and/or clearing firm to help protect against unauthorized access to firm and customer information. ETPs and Other Non-Conventional Instruments This session examines the characteristics of non-conventional instruments, particularly those that are gaining wide popularity among retail investors. Topics include discussions of exchange-traded products (ETPs), principal-protected notes and reverse convertibles. This session is designed to provide compliance staff with a basic overview of the structure, risks and compliance considerations for these products. Supervision This session addresses FINRA rules on supervision and supervisory controls. FINRA counsel outline key provisions of the rules and discuss the implications for firm supervisory practices and procedures with industry panelists. Compliance professionals discuss their role in maintaining effective supervisory programs and common practices for improving the firm's policies and practices.
4:30 pm - 4:45 pm	Break
4:45 pm - 6:00 pm	Concurrent Sessions III Risk Management at Small B-D Firms This session covers factors to consider when structuring a risk management program in a smaller firm environment. Panelists discuss industry practices and useful tools to help identify, prioritize, measure and monitor potential risk factors, establish internal controls and perform risk assessments. Risk Management at Large Broker-Dealers This session addresses lessons learned from the recent credit crisis and what investment banks can do to better position themselves to avoid future losses. Panelists highlight market, credit and liquidity risk, and discuss the considerations for maintaining a robust risk management program at larger firms. Trading Practices Panelists address regulatory implications and restrictions of the current trading environment, such as sponsored/direct market access, dark pools, short-selling, high-speed trading and other trading practices. Panelists discuss trading compliance and market-related issues, including the recent SEC proposal to increase transparency into dark pools' activities.
6:00 pm - 7:00 pm	Reception
Thursday, May 27
7:00 am - 6:00 pm	Registration
7:00 am - 8:00 am	Continental Buffet Breakfast
8:00 am - 9:00 am	Keynote Speaker
9:00 am - 9:15 am	Break
9:15 am - 10:30 am	Concurrent Sessions IV Risk Identification This session addresses principles and techniques for effective identification of risks and risk assumptions. Panelists draw on recent experiences to illustrate what can happen when fundamental risks are missed and risk modeling is based on incorrect assumptions. Advertising and Marketing for Dually Registered IA and B-D Firms This session provides practical guidance for IA/B-D dual registrants on compliance with advertising regulations in the dual-regulatory environment. Topics include performance advertising, global performance reporting (GIPS) compliance and disclosure requirements. Industry and state experts also address current requirements and proposed changes to Form ADV Part II. Ethics and Professional Responsibility for Securities Lawyers (Repeated Session) – CLE Ethics Credit A panel of practicing attorneys uses hypothetical scenarios to explore conflicts of interest, scope of representation, internal investigations, waiver of attorney-client privilege, advice of counsel defense, credit for cooperation and other related issues. This session is designed for in-house lawyers and outside counsel, and may be eligible for CLE Ethics credit.
10:30 am - 10:45 am	Break
10:45 am - 12:00 pm	Concurrent Sessions V Advertising Regulation Updates This session addresses regulatory requirements and industry practices for communications with the public. Panelists address proposed amendments to the advertising rules, the advertising of exchange-traded funds and other new developments. Panelists also discuss recent disciplinary actions involving communications with the public and identify red flags to help firms avoid them. ERISA Panelists address developments affecting firms with ERISA clients. Discussion topics include bonding requirements, prohibited transaction rules under the Pension Protection Act and soft dollar disclosures. Enforcement Case Trends Securities law practitioners and regulators review recent litigation and enforcement cases, and provide an overview of new developments, trends and program areas. Panelists highlight noteworthy decisions and their specific impact on securities regulation and practice.
12:00 pm - 1:30 pm	Lunch
1:30 pm - 2:45 pm	Concurrent Sessions VI Social Media This session addresses supervision of social media, including third-party networks, firm-sponsored communities and blogs. Industry panelists discuss what their firms do and do not allow, how they monitor activity, and the types of applications they use. Ethics and Managing Conflicts in IA Firms This session centers on the code of ethics governing employees' conduct and personal securities trading that investment adviser firms must maintain. Panelists highlight key features of their codes of ethics and discuss tests firms can conduct to ensure appropriate review and reporting of employees' activities. Topics include trade allocation, soft dollars, gifts and entertainment, the Foreign Corrupt Practices Act, controls over non-public information, and others. Arbitration Case Trends Panelists discuss recent arbitration cases and their implications as leading indicators of future arbitration activity. This session also addresses overall trends in arbitration and potential rule changes that could affect firms in 2010.
2:45 pm - 3:00 pm	Break
3:00 pm - 4:15 pm	Concurrent Sessions VII Data Protection and Privacy This session addresses privacy regulations, including Reg S-P and the FTC's FACT Act, and the application of these regulations for IA and B-D firms. Panelists highlight examples of how data can be compromised and discuss actions their firms are taking to safeguard non-public customer information. Custody and Possession for IA and BD Firms Panelists provide a detailed explanation and comparison of custody requirements for firms that are dually registered as IA and B-D firms. Discussion topics include segregation of assets, client statements and financial examination requirements. Ethics and Professional Responsibility for Securities Lawyers (Repeated Session) – CLE Ethics Credit A panel of practicing attorneys uses hypothetical scenarios to explore conflicts of interest, scope of representation, internal investigations, waiver of attorney-client privilege, advice of counsel defense, credit for cooperation and other related issues. This session is designed for in-house lawyers and outside counsel, and may be eligible for CLE Ethics credit.
4:15 pm - 4:30 pm	Break
4:30 pm - 5:45 pm	Plenary Ask FINRA Senior Staff FINRA's senior staff address questions on the examination program, enforcement, rulemaking, dispute resolution and other regulatory and compliance issues. Please note that firm-specific questions can be discussed one-on-one with regulatory experts during the conference's Office Hours.
5:45 pm - 7:00 pm	Reception
Friday, May 28
7:00 am - 8:00 am	Continental Buffet Breakfast and Registration
8:00 am - 9:15 am	Plenary Sustaining a B-D Compliance Program This session focuses on sustaining robust compliance and supervisory programs. Discussion topics include how to effectively communicate compliance and regulatory updates to registered principals, the compliance process as a mechanism to communicate with senior management, and the importance of clarifying the roles and responsibilities of compliance and supervision. Panelists also discuss common examination findings, lessons learned from exams, and how they can be applied to improve compliance and supervisory programs.
9:15 am - 9:30 am	Break
9:30 am - 10:45 am	Concurrent Sessions VIII Fixed Income Transparency and Regulatory Reporting Following a brief overview of TRACE developments including the expansion of TRACE, this session covers the recent increase in retail focus on fixed income securities. Panelists discuss practical considerations of retail sales and trading practices, including training registered representatives on the use of TRACE data. Panelists also discuss market developments that affect retail investors, such as electronic trading and fixed income products like bond exchange-traded funds (ETFs). Life Settlements This session focuses on laws governing life settlements, industry practices for disclosure, supervision and suitability, and new developments such as life settlement securitization. Topics include state laws regulating life settlements and Stranger Oriented Life Insurance, the National Association of Insurance Commissioners (NAIC) Viatical Settlement Model Act, the National Conference of Insurance Legislators (NCOIL) Life Settlement Model Act and the regulatory considerations related to securitizing these products. AML Independent Testing Industry panelists discuss the role of independent testing in firms' anti-money laundering (AML) compliance programs and provide practical guidance on how to conduct an effective, comprehensive test. The session begins with an overview of the AML independent testing requirement and clarification on who can perform the independent test.
10:45 am - 11:00 am	Break
11:00 am - 12:15 pm	Concurrent Sessions IX Municipal Securities Disclosures Industry experts and representatives from FINRA, the SEC and MSRB discuss municipal securities dealers' obligations to disclose information about issuer material events to purchasers of municipal securities. Panelists discuss the importance of this disclosure in light of recent market events and publicity surrounding certain municipal issuers, the use of EMMA for filing, examination initiatives and disclosure compliance results. Annuity Suitability This session addresses regulatory requirements and industry practices for suitability and supervision relating to the sale of fixed and variable annuities. Discussion topics include FINRA rules on deferred variable annuities and suitability, and the NAIC model suitability rule. Panelists also address effective compliance procedures for insurers and distributors, and discuss compliance approaches in various distribution channels, including broker-dealers, financial planners and independent marketing organizations (IMOs). Enterprisewide AML This session addresses how to develop an effective, enterprisewide AML compliance program that complies with the Bank Secrecy Act, international regulations such as those promulgated by Canadian securities regulators and the UK's Financial Services Authority and specific regulations for insurance companies and banks. Panelists discuss practical considerations in mitigating potentials risks, identifying red flags, and monitoring and reporting suspicious activity.
12:15 pm - 12:30 pm	Break
12:30 pm - 1:30 pm	Plenary and Lunch Rulebook Consolidation FINRA counsel outline key provisions of new FINRA rules governing supervision, suitability, membership and others, and discuss the implications for firm compliance programs.
1:30 pm	Conference Adjourns

 

Hotel Information

 

The 2010 FINRA Annual Conference will take place at:

 

Baltimore Marriott Waterfront Hotel
700 Aliceanna Street
Baltimore, MD 21202
Phone: (410) 385-3000
Toll free: (800) 228-9290
Fax: (410) 895-1900
Web: www.marriott.com/hotels/travel/bwiwf-baltimore-marriott-waterfront/

 

A room block is available at the Baltimore Marriott Waterfront Hotel at the special rate of $245 per night, plus tax. This rate will be available until April 28, 2010, or until the room block is sold out. After April 28, 2010, hotel reservations will be accepted on a space- and rate-available basis. Hotel reservations, cancellations and charges are the attendee’s responsibility. To reserve a room, please call (800) 228-9290 or (410) 385-3000 and identify yourself as a 2010 FINRA Annual Conference attendee.

 

Registration & Fees

 

Fees	Before December 31, 2009	Between January 1 and April 28, 2010	Between April 29 and May 28, 2010
Annual Conference (May 26 thru 28)	$595 (M) $895 (A) $1,195 (NM)	$1,195 (M) $1,495 (A) $1,795 (NM)	$1,395 (M) $1,695 (A) $1,995 (NM)
One-Day Rate (May 26 or 27 or 28)	N/A	$595 (M) $795 (A) $995 (NM)	$695 (M) $895 (A) $1,095 (NM)
Guest	$175	$175	$175

• (M) = Member: employees of FINRA member firms; must provide a valid firm CRD number when registering for the conference
• (A) = Attorney: practicing lawyers who are employed by law firms, service providers or any other organization that is not a FINRA member firm; must provide a valid bar ID number when registering for the conference
• (NM) = Non-Member: all others*

 

* Discounted rates may be available for government and regulatory agency employees. For more information or a copy of FINRA’s Financial Hardship Policy, please call (212) 858-4119.

Group Discounts Are Available:
Group rates are available for firms sending three or more employees to the conference. For more information, please call (212) 858-4119 or email for additional details.

Annual Conference fees include attendance to all sessions on Wednesday, Thursday and Friday; all conference materials; receptions on Wednesday and Thursday; continental breakfast and lunch on Wednesday, Thursday and Friday; and all refreshment breaks.

One-Day Annual Conference fees include attendance to all sessions on that day only; all conference materials; and continental breakfast, lunch, refreshment breaks and reception on that day only.

Guest Registration: Conference participants may bring a guest to conference receptions; please register this person per instructions found on the registration form. Guest registration does not permit attendance at sessions, lunches, continental breakfasts or breaks.

 

How to Register

 

Online*	Online registration is for credit card transactions ONLY. To register using this method, complete the online registration form. Online registration closes one day prior to the start of the program. For those who wish to register after this date, please fax or phone your registration to FINRA.
Mail	Print out and complete the downloadable registration form and send payment and form to the address below with a check made payable to FINRA:   FINRA Conference Registration Attn: Annual Conference (CM3000) P.O. Box 7777-W8440 Philadelphia, PA 19175-8440 Make check payable to: FINRA
Fax*	Fax registration is for credit card transactions ONLY. Fax your completed downloadable registration form to FINRA at (202) 728-6956.
Phone*	(212) 858-4119

*For credit card transactions ONLY.

 

Conference registration is limited and available on a first-come, first-served basis. Payment is required at the time your registration is submitted. Registrations without payment are considered incomplete.

 

Registrations may not be sent via overnight mail. Checks are sent directly to a bank lockbox, and P.O. boxes will not accept courier or overnight deliveries. Registrations postmarked on or before December 31, 2009, are eligible for early registration discount pricing.

 

You will receive an email confirmation of your registration within two weeks of receipt of your completed registration form and payment. Please make sure your registration has been confirmed prior to your arrival onsite at the conference.

 

FINRA suggests that you do not purchase restricted or nonrefundable tickets for travel to the conference, especially prior to receipt of your registration confirmation. FINRA assumes no liability for penalties or fare increases should the conference sell out or in the unlikely event that changes to the conference dates and/or location become necessary.

 

CE Credit
Upon completion of the conference, participants are eligible to receive CLE, CPE and/or CRCP CE credits. Ethics CLE credit for the Ethics and Professional Responsibility for Securities Lawyers session has been applied for and is pending approval from several states. General CLE credit will be applied for upon request. CPE course level: Overview

 

Cancellation Policy
Full refunds for registration, less a $100 processing fee, will be granted to written requests received 14 days or more prior to the start date of the program. We regret that refunds will not be granted after May 12, 2010.

 

Transfer Policy
Transfer requests must be received in writing prior to the start date of the conference. An additional administrative fee of $75 is charged on all transfers and must be applied to a specific upcoming program. All transfers are good for six months from the date of receipt of the written transfer request. Please fax your transfer request to (202) 728-6956 or send via email to education@finra.org.

 

Questions, Comments or Complaints
If you have questions or comments about this conference, or would like information about administrative policies such as reporting or resolving a complaint about conferences, please email or call (212) 858-4119.

 

Exhibitor Opportunities
FINRA has a limited number of exhibitor opportunities available for this conference. To secure your participation, please let us know your interest as soon as possible. Contact Jeffrey Arcuri at (508) 759-8180 or jvarcuri@aol.com to request a conference sponsorship package. (Please provide complete contact information in your message.)

 

Only FINRA’s Annual Conference is open to the media. All other FINRA conferences, pre-conferences, classroom learning, compliance boot camps and FINRA Institute at Wharton are closed to the media.

• View 2009 FINRA Annual Conference details