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SIFMA-CL June 2009 Monthly Luncheon Notes

Thu, 25 Jun 2009 16:00:00 GMT

June 2009 - Monthly Luncheon

The Harvard Club • New York, NY

Thursday, June 25th of 2009

Luncheon Speakers:

        Moderator
        R. Gerald Baker

        Executive Director, SIFMA-CL

        Panelists

        Hans Reich

        Regional Director, New York, FINRA

        Mary Ann Gadziala

        Associate Director, SEC, Office of Compliance Inspections and Examinations

        Grace B. Vogel

        Executive Vice President, Member Regulation, FINRA

        James B. Wall

        Examining Officer, Federal Reserve Bank of New York

Materials:

25-Jun-09 12:00 PM

January 2009 Monthly Luncheon Notes

Mon, 09 Feb 2009 17:00:00 GMT

January 2009 - Monthly Luncheon

The Harvard Club • New York, NY

Thursday, Janurary 22nd, 2009

The guest speaker for this luncheon was Susan Merrill, Executive Vice President, Chief of Enforcement, FINRA.

Materials: January 2009 Monthly Luncheon Notes

9-Feb-09 12:00 PM

December 2007 Monthly Luncheon

Fri, 19 Dec 2008 13:00:00 GMT

December 2007 - Monthly Luncheon

The Princeton Club • New York, NY

Thursday, December 18th of 2007

Luncheon Panelists:

Gerald Baker, Executive Director, SIFMA-CL
Marc Menchel, Executive Vice President and General Counsel for Regulation, FINRA Grace Vogel, Executive Vice President, Member Regulation, FINRA

Materials: December Monthly Luncheon Remarks

19-Dec-08 8:00 AM

October 2008 Monthly Luncheon Presentation

Thu, 23 Oct 2008 18:00:00 GMT

October 2008 - Monthly Luncheon

The Harvard Club • New York, NY

Thursday, October 23rd, 2008

The guest speaker for this luncheon was Ira D. Hammerman, Senior Managing Director and General Counsel, SIFMA.

Materials: October Monthly Luncheon Presentation

23-Oct-08 2:00 PM

July 2008 - Breakfast CLE Seminar Presentations & Materials

Wed, 30 Jul 2008 16:00:00 GMT

July 2008 - Breakfast CLE Seminar

The Harvard Club • New York, NY

Wednesday, July 30th, 2008

NUTS AND BOLTS OF
THE CREDIT CRISIS

Luncheon Panelists:

Jeff Nielsen, Managing Director, Navigant Consulting
Vinita M. Juneja, Ph.D., Senior Vice President, NERA
Scott Bieler, Managing Director, Merrill Lynch

Presentations:

Jeff Nielsen presentation

Vinita M. Juneja presentation

Handouts:

AAG_Auction_Rate_3-08

PUB_Auction_Rate_Securities_0708

PUB_Subprime_Part_III_0708

SEC_SubprimeSeries_Part1_June2007

SEC_SubprimeSeries_Part_II_2-08

Subprime Litigation_TortSource_4_8_08

Referenced White Papers:

Navigant Subprime Litigation 1Q2008 Update (April-08)

Navigant Subprime Litigation 2007 study (Feb-08)

30-Jul-08 12:00 PM

Blueprint for a Modernized Financial Regulatory Structure Information

Mon, 31 Mar 2008 12:00:00 GMT

March 31, 2008

Dear SIFMA-CL Member:

Please see below from Tim Ryan, CEO of SIFMA, on the Treasury Department’s “Blueprint for a modernized Financial Regulatory Structure” released today.

Below you will find:

SIFMA’s summary of the plan’s executive summary
A link to Treasury’s fact sheet on the plan
A link to the plan’s executive summary
A link to the Blueprint
A link to Secretary Paulson’s speech text
SIFMA’s public reaction from Friday evening to the expected unveiling of a plan
Contact information for SIFMA

SIFMA’s summary of the Blueprint’s executive summary

Last March, Treasury convened a blue-ribbon discussion of capital markets competitiveness. Industry leaders and policymakers alike agreed that the competitiveness of our financial services sector – and its ability to support U.S. economic growth – are constrained by an outdated financial regulatory framework.

The current regulatory framework for financial institutions is based on a structure that has been largely knit together over the past 75 years. There are now:
- Five federal depository institution regulators in addition to state-based supervision.
- One federal securities regulator and one federal futures regulator, with additional state-based supervision and self-regulatory organizations with broad regulatory powers.
- Insurance regulation is almost wholly state-based, with 50+ regulators. This structure raises a number of issues with an international dimension that can be inefficient and costly.

This structure is antiquated and struggling to keep pace with market developments.

The optimal regulatory structure needs to attract capital based on its effectiveness in promoting innovation, managing system-wide risks, and fostering consumer and investor confidence.

In this report, Treasury presents a series of short, intermediate and long-term recommendations for reform of the U.S. regulatory structure.

The short-term recommendations present actionable changes to improve regulatory coordination and oversight immediately, including:

Modernize the President’s Working Group (PWG).
Create a new federal commission for mortgage origination to evaluate, rate, and report on the adequacy of each state’s system for licensing and regulation of participants in the mortgage origination process.
Clarify liquidity provisioning by the Federal Reserve to give the Federal Reserve the information it needs during this temporary period. The PWG will study the issue further.

The intermediate recommendations focus on eliminating some of the duplication of a functional regulatory system, but more importantly try to modernize the regulatory structure for certain financial services sectors within the current framework.

Treasury also includes a long-term model for discussion. This model holistically addresses the inadequacies of the current functional regulatory system.

Link to Treasury’s fact sheet on the plan
http://www.treas.gov/press/releases/reports/Fact_Sheet_03.31.08.pdf

Link to the Blueprint’s executive summary
http://www.sifma.org/regulatory/pdf/Paulson-BlueprintExec-summary.pdf

Link to the Blueprint
http://www.sifma.org/regulatory/pdf/Modernized-Financial-Reg-Structure-Blueprint.pdf

Link to Secretary Paulson’s speech
http://www.treas.gov/press/releases/hp897.htm

SIFMA’s public reaction to the unveiling of a plan

Friday night SIFMA was asked for its reaction to the expected unveiling of the plan. SIFMA was widely quoted as saying, “Treasury has delivered a thoughtful and sweeping plan which should provoke intense discussion, debate and potential legislative changes. Our present regulatory framework was born of Depression era events and is not well suited for today's environment where billions of dollars race across the globe with the click of a mouse. That fact, teamed with the current market conditions, result in an universal agreement that it is time to modernize and revitalize the current system. Treasury’s three step approach is very wise because it allows time for serious analysis, discussion and important choices. SIFMA, which represents global financial markets participants, intends to be an important player in this multi-year process.”

31-Mar-08 8:00 AM

February 2008 Monthly Luncheon Notes

Tue, 19 Feb 2008 19:00:00 GMT

February 2008 - Monthly Luncheon

The Harvard Club • New York, NY

Tuesday, February 19th of 2008

The guest speaker for this luncheon was Robert Colby, Deputy Director, SEC Division of Trading and Markets.

Materials: February Monthly Luncheon Notes

19-Feb-08 2:00 PM

January 2008 Monthly Luncheon

Thu, 17 Jan 2008 14:00:00 GMT

January 2008 - Monthly Luncheon

The Princeton Club • New York, NY

Thursday, January 17th of 2008

The guest speaker for this luncheon was Lori A. Richards, Director, SEC Office of Compliance Inspections and Examinations.

Materials: January Monthly Luncheon Remarks

17-Jan-08 9:00 AM

White Paper on Arbitration in the Securities Industry

Tue, 23 Oct 2007 12:00:00 GMT

White Paper on Arbitration in the Securities Industry
SIFMA-CL

October 23, 2007

23-Oct-07 8:00 AM

September 2007 Monthly Luncheon

Thu, 11 Oct 2007 20:00:00 GMT

September 2007 - Monthly Luncheon

The Princeton Club • New York, NY

Tuesday, September 18^th of 2007

The guest speaker for this luncheon was Andrew J. Pincus, senior partner at Mayer, Brown, Rowe & Maw LLP. Mr. Pincus -- who is the former General Counsel of the United States Department of Commerce and is currently an adjunct professor at Yale Law School -- specializes in briefing and arguing cases in the Supreme Court of the United States and advising corporations on legislative and regulatory matters. He reviewed significant legislative initiatives and cases in the Supreme Court that will impact the securities industry.

Materials: September Monthly Luncheon Notes

11-Oct-07 4:00 PM

Thank you for contacting the SIFMA CL

Thu, 14 Jan 2010 17:28:12 GMT

A representative will follow up with you shortly.

SIFMA-CL Subcommittees

Mon, 05 Oct 2009 19:28:07 GMT

Operational Subcommittees Education Howard Plotkin Barclays Capital 745 Seventh Avenue New York, NY 10019 212-526-0624 Tel 646-758-1609 Fax Membership I. Scott Bieler Fidelity Investments 82 Devonshire Street Boston, MA 02109 617-563-9188 Tel Member Services Louise Guarneri Credit Suisse One Madison Avenue; 9th Floor New York, NY 10010 212-538-3141 Tel 917-326-7917 Fax Finance Joseph Castro Fidelity Investments 82 Devonshire Street, MZ-G5B Boston, MA 02109 617-563-8557 Tel 617-385-2694 Fax Topical Subcommittees Compliance Michele Oroschakoff Morgan Stanley Harborside Financial Center 34 Eachange Place; Plaza 2 - 2nd Floor ...

2009 SIFMA-CL Officers

Mon, 05 Oct 2009 19:26:31 GMT

Officer/Affiliation Telephone/Fax Edward G. Turan President Citigroup Global Markets Inc. 388 Greenwich Street, 17th Floor New York, NY 10013 (212) 816-0111 Tel Linda Yarden Executive Vice President Goldman, Sachs & Co. 85 Broad St. New York, NY 10004 (212) 902-0726 Tel (212) 428-9084 Fax I. Scott Bieler Secretary Fidelity Investments 82 Devonshire Street Boston, MA 02109 (617) 563-9188 Tel Cathleen Shine Treasurer Alliance Bernstein LP 1345 Avenue of the Americas New York, NY 10105 (212)...

Legal Sub-committee

Thu, 27 Aug 2009 15:41:12 GMT

Mission Statement of Sub-Committee: The Sub-Committee will regularly monitor, analyze and discuss litigation, legislative, and regulatory issues of importance to the industry, with particular attention paid to those issues identified by the SIFMA Compliance & Legal Division Executive Committee. On selected material issues, the Sub-Committee will advocate the industry’s position through the filing of Amicus Briefs; the development and publication of White Papers; the submission of Comment Letters; and the facilitation of and participation in meetings with senior regulatory and legislative staff members. The Sub-Committee will coordinate its efforts with the Compliance and Legal Division Executive Committee and with other Committees and Organizations within SIFMA. The Sub-Committee will meet monthly by phone and quarterly in person in New York City. ...

Regional Firms Sub-committee

Thu, 27 Aug 2009 15:30:16 GMT

Mission Statement of Sub-Committee: To expand opportunities for individuals to participate in the work of the Division and its programs; To broaden participation by regional firms and firms located outside of the New York metropolitan area; To identify additional programs and services desired by the Membership; To critique and suggest enhancements and/or improvements to programs currently offered by the Division; To serve as a resource to the SIFMA Regional Firm Committee as directed by the leadership of the SIFMA Compliance and Legal Division; To serve as a feeder organization for qualified individuals to become members of the SIFMA Compliance and Legal Division Executive Committee as vacancies occur and the need arises; To foster diversity and expand opportunities for participation by all genders, races and creeds in SIFMA Compliance and Legal Division activities; and To expand services to...

Compliance Sub-committee

Thu, 27 Aug 2009 15:17:05 GMT

Mission Statement of Sub-Committee: To provide a forum to identify and discuss current issues facing the Broker-Dealer and Investment Adviser community and serve as a resource to resolve those issues. To assist the Executive Committee in working with regulators to satisfactorily resolve those issues. To represent the Broker-Dealer and Investment Adviser Compliance and Legal community and positively influence regulatory action and direction on issues facing the Broker-Dealer and Investment Adviser Compliance and Legal Community. Chairperson: Michele Oroschakoff Morgan Stanley Harborside Financial Center 34 Exchange Place; Plaza 2 - 2nd Floor Jersey City, NJ 07311 ...

About SIFMA-CL Seminars

Thu, 26 Feb 2009 16:33:21 GMT

The Division sponsors a monthly general luncheon with guest speakers from diverse backgrounds within the industry and regulatory communities who provide information and the opportunity to ask questions about matters which are topical and important to members. A number of these lunches are eligible for Continuing Legal Education ("CLE") credit.

Members also have the opportunity to attend regional educational seminars and the annual seminar at reduced rates. More recently, the Division has been holding smaller, less formal, breakfasts and meeting in a variety of cities across the United States. Members also receive a subscription to the Division's publication "News & Notes".

Based upon their backgrounds and experience, members may have the opportunity to serve on various committees which function in specialized areas or with respect to special projects of the Division. Membership in the Division serves the important purposes of promoting professional development and serving the best interests of member firms and the industry in general.

SIFMA-CL Memberships

Thu, 12 Feb 2009 18:41:42 GMT

Membership in the Division serves the important purposes of promoting professional development and serving the best interests of member firms and the industry generally.

Members' activities include:

Organizing educational programs on legal and compliance issues of general interest to the industry, including its regulators and those who provide various professional services to SIFMA member firms.
Providing opportunities for both formal and informal contacts with industry, regulatory and self-regulatory organizations to discuss matters of common concern and promote understanding of the compliance and legal functions in a dynamic regulatory environment.
Formulating positions and suggesting approaches to be taken by SIFMA-CL on proposed industry laws, rules and regulations and other matters of a compliance and legal nature.
Providing assistance to individual members and firms with which they are affiliated on compliance and legal matters of general concern or importance to the industry.
Coordinating positions with other divisions and standing committees of SIFMA.
Promoting the exchange of information among members.

For questions on Division Membership or Division Programs, please contact the Division's Administrative Office or click here for additional information.

SIFMA - Compliance & Legal Division
50 East 42nd St.
Suite 706
New York, NY 10017

Phone: (212) 629-9393
Fax: (212) 629-9722
e-mail: membership@sifmacl.org

2009 SIFMA-CL Executive Committee

Tue, 10 Feb 2009 21:08:01 GMT

Tracy E. Calder UBS Wealth Management 1200 Harbor Blvd., Tenth Floor Weehawken, NJ 07086 (201) 352-6476 Tel (201) 617-8483 Fax Joseph Castro Fidelity Investments 82 Devonshire Street Boston, MA 02109 (617) 563-8557 Tel (617) 385-2694 Fax Mark T. Commander RBC Capital Markets One Liberty Plaza 165 Broadway New York, NY 10006 (212) 428-6517 Tel (212) 658-6125 Fax Daniel J. Fitzpatrick Morgan Stanley 200 Westchester Avenue; 1st Floor Purchase, NY 10577 (914) 225-5554 Tel (914) 225-5717 Fax Bari Manzari Havlik Charles Schwab & Co., Inc. 101 Montgomery San Francisco, CA 94104 (415) 636-3540...

International Sub-committee

Tue, 22 Jul 2008 17:57:55 GMT

Mission Statement of Sub-Committee: To develop and facilitate among interested SIFMA CL members, an organized approach to sharing our members’ identification(s), evaluation(s) and responses to the legal, regulatory and compliance environments, and other cross-border issues, affecting the international operations of our firms. Chairperson: LaBrena Jones Martin Royal Bank of Canada One Liberty Plz., 5th Fl. New York, NY 10006-1404 212-858-7110 Tel ...