SIFMA - Compliance & Legal Division

December Monthly Luncheon

Tue, 05 Aug 2008 15:52:26 GMT

December Monthly Luncheon
Start Date: 16-Dec-08 12:00 PM
End Time: 16-Dec-08 2:00 PM
Location: Harvard Club, New York, NY
Speaker:

Harvard Club

November Monthly Luncheon

Tue, 05 Aug 2008 15:44:32 GMT

November Monthly Luncheon
Start Date: 18-Nov-08 12:00 PM
End Time: 18-Nov-08 2:00 PM
Location: Harvard Club, New York, NY
Speaker:

Harvard Club

New York Fall Compliance Seminar

Tue, 05 Aug 2008 15:34:36 GMT

New York Fall Compliance Seminar
Start Date: 11-Nov-08 8:00 AM
End Time: 11-Nov-08 5:30 PM
Location: Hilton Avenue of the Americas, New York, NY
Speaker:

Hilton Avenue of the Americas

October Monthly Luncheon

Tue, 05 Aug 2008 15:31:54 GMT

October Monthly Luncheon
Start Date: 23-Oct-08 12:00 PM
End Time: 23-Oct-08 2:00 PM
Location: Harvard Club, New York, NY
Speaker:

Harvard Club

Charlotte Regional Seminar

Tue, 05 Aug 2008 15:25:57 GMT

Charlotte Regional Seminar
Start Date: 25-Sep-08 8:00 AM
End Time: 25-Sep-08 5:30 PM
Speaker:

Event Details:

Registration is not yet available for this event. Please continue to check back for updates.

September Monthly Luncheon

Tue, 05 Aug 2008 15:29:14 GMT

September Monthly Luncheon
Start Date: 16-Sep-08 12:00 PM
End Time: 16-Sep-08 2:00 PM
Location: Harvard Club, New York, NY
Speaker:

Harvard Club

Los Angeles Topical Breakfast

Fri, 11 Jul 2008 17:46:43 GMT

Los Angeles Topical Breakfast
Start Date: 13-Aug-08 8:30 AM
End Time: 13-Aug-08 10:30 AM
Speaker:

Event Details:

Los Angeles Topical Breakfast

Dear Industry Colleague,

On behalf of the SIFMA Compliance and Legal Division, I would like to invite you to our Los Angeles Topical Breakfast Seminar. Do not miss this opportunity to hear firsthand the examination agendas and findings of the SEC, FINRA and state regulators. This complimentary breakfast seminar will be hosted by Morgan Stanley. Sign up now, space is extremely limited.

When: Wednesday, August 13th

8:30 am – 10:30 am

Where: Morgan Stanley

335 North Maple Drive, Suite 150

Beverly Hills, CA 90210.

Speakers:

Michael G. Rufino

Senior Vice President, Member Regulation, Sales Practice Review

Financial Industry Regulatory Authority (FINRA)

Susan Axelrod

Senior Vice President, Office of Regulatory Operations

Financial Industry Regulatory Authority (FINRA)

David A. Greene

Director, District 2

Financial Industry Regulatory Authority (FINRA)

(Southern California that part of the state south or east of the counties of Monterey, San Benito, Fresno, and Inyo),

southern Nevada (that part of the state south or east of the counties of Esmeralda and Nye) and the former U.S. Trust Territories

Reservations:

If you are able to attend please RSVP to Shana Madoff at smadoff@madoff.com or call 212-230-2411. Space is limited so respond as soon as you can.

Sincerely,
Shana Madoff
Executive Committee Member, SIFMA - Compliance & Legal Division

Morgan Stanley

Beverly Hills, CA 90210

July 2008 - Breakfast CLE Seminar Presentations & Materials

noemail@sifmacl.org — 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

noemail@sifmacl.org — 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

noemail@sifmacl.org — 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

noemail@sifmacl.org — 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

noemail@sifmacl.org — 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

July 2007 Monthly Luncheon

noemail@sifmacl.org — Mon, 10 Sep 2007 22:00:00 GMT

July 2007 - Monthly Luncheon

The Princeton Club • New York, NY

Tuesday, July 17^th of 2007

Speaker: Walter G. Ricciardi

Deputy Director of the Division of Enforcement
U.S. Securities and Exchange Commission.

Materials: July Monthly Luncheon Notes

10-Sep-07 6:00 PM

June 2007 Monthly Luncheon

noemail@sifmacl.org — Wed, 20 Jun 2007 20:00:00 GMT

SIFMA-CL Luncheon
Princeton Club

June 18, 2007

"An Update on the Examination Programs of the NASD, NYSE and SEC"

Examination and Regulatory Priorities
Examination Findings
Repetitive Industry Problems
Examination Coordination
Oversight Examinations

Materials: June Monthly Luncheon Outline

June Monthly Luncheon Handout

Speakers:

Mary Ann Gadziala
Associate Director, Office of Compliance Inspections and Examinations
United States Securities and Exchange Commission

Grace B. Vogel
Executive Vice President
Member Firm Regulation, New York Stock Exchange, Inc.

Robert C. Errico
Executive Vice President
Member Regulation, NASD

R. Gerald Baker
Executive Director
SIA Compliance & Legal Division

20-Jun-07 4:00 PM

Issues Regarding Fee-Based Brokerage Accounts

noemail@sifmacl.org — Thu, 17 May 2007 16:00:00 GMT

SIFMA-CL
Issues Regarding Fee Based Brokerage Accounts

Below is information regarding the D.C. Circuit Court's recent decision in Financial Planning Association v. SEC, in which the court ruled that the SEC exceeded its authority under the Investment Advisers Act when it promulgated Rule 202 (a)(11)-1 exempting certain broker-dealers providing fee-based brokerage accounts from registering as investment advisers.

2007 May Monthly Luncheon Presentation - Financial Planning Association v. SEC: Fee Based Brokerage

SIFMA-CL Annual Seminar 2007 Panel Materials: Investment Adviser Issues for Broker-Dealers

SEC Press Release

D.C. Court Ruling

17-May-07 12:00 PM

May 2007 Monthly Luncheon

noemail@sifmacl.org — Tue, 15 May 2007 16:00:00 GMT

SIFMA-CL Luncheon
Princeton Club

May 15, 2007

Speaker Lori Martin
Partner, WilmerHale

Presentation:

Financial Planning Association v. SEC: Fee Based Brokerage

Ms. Lori Martin, a Partner at WilmerHale, along with Mr. Michael Udoff, Vice-President and Associate General Counsel of the Securities Industry and Financial Markets Association spoke on issues regarding fee-based brokerage accounts. This presentation was especially timely in light of the D.C. Circuit Court's recent decision in Financial Planning Association v. SEC, in which the court ruled that the SEC exceeded its authority under the Investment Advisers Act when it promulgated Rule 202 (a)(11)-1 exempting certain broker-dealers providing fee-based brokerage accounts from registering as investment advisers.

15-May-07 12:00 PM

Davitt, Andrew

Thu, 29 Dec 2005 15:02:21 GMT

Andrew W. Davitt
adavitt@mdwcg.com

1845 Walnut St., 17th Fl.

Philadelphia, PA 19103-4797

(215) 575-2679

Freedman, Adam

Thu, 29 Dec 2005 14:55:40 GMT

Adam Freedman
adam.freedman@morganstanley.com

1601 Broadway, 12th Fl.

New York, NY 10019

(212) 259-1287

Meiselman, Abby

Thu, 29 Dec 2005 14:30:00 GMT

Abby Meiselman
abby.meiselman@bankofamerica.com

1 Horseshoe Rd.

Cocob, CT 06807

(203) 869-2483

Berry, Anders T.

Thu, 29 Dec 2005 14:00:00 GMT

Anders T. Berry
aberry@dadco.com

8 Third St. N., P.O. Box 5015

Great Falls, MT 59401

(406) 727-4200

Tiger, Abbe R.

Thu, 29 Dec 2005 14:00:00 GMT

Abbe R. Tiger
abbe_tiger@ml.com

222 Broadway, 16th Fl.

New York, 10038

(212) 670-0254

Behar, Adam S.T.

Thu, 29 Dec 2005 14:00:00 GMT

Adam S.T. Behar
adam_behar@adpcos.com

26 Broadway, 11th Fl.

New York, NY 10004

(212) 747-7184

Cavallaro, Anthony

Thu, 29 Dec 2005 14:00:00 GMT

Anthony Cavallaro
acavallaro@nyse.com

14 Wall St.

New York, NY 10005

(212) 656-2613

Hooper, Abigail

Thu, 29 Dec 2005 14:00:00 GMT

Abigail Hooper
abigail.hooper@ryanbeck.com

650 Madison Ave., 10th Fl.

New York, NY 10022

(212) 407-0500

Benson, AnnDrea M.

Thu, 29 Dec 2005 14:00:00 GMT

AnnDrea M. Benson

One N. Arlington, 1500 W. Shure Dr., Ste. 150

Arlington Heights, IL 60004

(847) 392-0900

Akerman, Albert L.

Thu, 29 Dec 2005 14:00:00 GMT

Albert L. Akerman
aakerman@theseaportgroup.com

360 Madison Ave., 22nd Fl.

New York, NY 10017

(212) 616-7712

Compliance & Legal Division of SIFMA

Tue, 05 Aug 2008 15:56:16 GMT

The Compliance and Legal Division of the Securities Industry and Financial Markets Association, through the efforts of its members, has worked to foster an effective self-regulatory system for the securities industry for over forty years. Through educational programs, communication and advocacy, the Division works to preserve and enhance the reputation of the industry and prepare its members for market changes and new trends. EVENT UPDATES: LOS ANGELES TOPICAL BREAKFAST Wednesday, August 13th, 2008 Please click here for more information. SEC COMPLIANCE ALERT Released July 22, 2008 The SEC released a new compliance alert letter identifying common deficiencies and weaknesses that SEC examiners have recently found during examinations of SEC registered firms. Click here for the full content. Treasury Department: BLUEPRINT FOR A MODERNIZED FINANCIAL REGULATORY STRUCTURE Released MARCH 31, 2008 Please click here to view. SIFMA-CL NEWS & NOTES RELEASED Jan 11,...

SIFMA-CL Subcommittees

Tue, 22 Jul 2008 18:16:13 GMT

Operational Subcommittees Education Howard Plotkin Lehman Brothers Inc. 745 Seventh Avenue New York, NY 10019 212-526-0624 Tel 646-758-1609 Fax Membership I. Scott Bieler Merrill Lynch, Pierce, Fenner & Smith 222 Broadway, 16th Fl. New York, NY 10038 212-670-0436 Tel 212-670-4527 Fax 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 Brian C. Underwood Wachovia Securities, LLC One North Jefferson St....

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 ...

Institutional Sub-Committee

Wed, 16 Jul 2008 17:48:30 GMT

Mission Statement of Sub-Committee: To identify issues of common concern related to institutional (i.e., non-retail) capital markets and transactional activity through the exchange of ideas, regulatory experiences, market practices and creative solutions applied to specific challenges. When necessary take one of the following courses of action: 1) contact the appropriate regulatory organization for guidance and/or assistance; or 2) elevate pertinent issues to the SIFMA C&L Executive Committee to determine what, if any, action is required (e.g., comment letter, meeting with regulators, etc.). Chairperson: Stephen Strombelline BNP Paribas 787 Seventh Avenue New York, NY 10019 United States Tel 212-841-2657 ...

Regional Firms Sub-committee

Wed, 16 Jul 2008 17:22:47 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

Wed, 16 Jul 2008 17:07:40 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: Brian C. Underwood Wachovia Securities, LLC One North Jefferson St. Louis, MO 63103 Members: Edward...

Legal Sub-committee

Wed, 16 Jul 2008 16:46:52 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. ...

Institutional Sub-committee

Wed, 11 Jun 2008 16:37:34 GMT

Institutional Sub-Committee Mission Statement: To identify issues of common concern related to institutional (i.e., non-retail) capital markets and transactional activity through the exchange of ideas, regulatory experiences, market practices and creative solutions applied to specific challenges. When necessary take one of the following courses of action: 1) contact the appropriate regulatory organization for guidance and/or assistance; or 2) elevate pertinent issues to the SIFMA C&L Executive Committee to determine what, if any, action is required (e.g., comment letter, meeting with regulators, etc.). Officers/Affiliation Stephen Strombelline Chairman BNP Paribas (212) 841-2657 Tel Members Company ...