NRS Fall 2018 Compliance Conference

Chicago partner Jim Lundy and counsel Nicholas Wendland will speak on multiple panels at the National Regulatory Services (NRS) Fall 2018 Compliance Conference, to be held November 5−8 in Carlsbad, California. The conference focuses on ways investment adviser and broker-dealer firms can navigate the disruptive currents of regulatory change and adapt procedures to compliance programs.

Jim will speak on three panels at the conference. He will be a panelist for “SEC Proposed Best Interest Rule: Where are we now?” This panel will examine the anticipated broker-dealer and investment adviser requirements under the SEC’s proposed rule and the related proposals, identify current business practices that may be impacted, and discuss strategies for monitoring and responding to a potential final rule.

Jim will also be on a panel discussing “Self-Reporting: Last Resort or Useful Option?” Concerns abound regarding the SEC’s recent Share Class Selection Disclosure Initiative that encouraged self-reporting of violations. This panel will address issues such as why and how a firm should consider self-reporting, what the industry has learned from previous self-reporting initiatives, and the key factors compliance professionals should evaluate in determining whether to self-report.

Lastly, Jim will serve as a panelist for “SEC Examinations for Investment Advisers.” The Office of Compliance Inspections and Examinations (OCIE) has expanded its ranks and concurrently increased the number of investment adviser firms that it is examining. The speakers will provide a deep dive into OCIE’s examination process, including the examiners’ approaches and motivations. They will also review the SEC’s current agenda and suggest best practices for preparing for an SEC examination.

Nicholas will serve as a panelist for a discussion on “MiFID II and International Compliance Considerations.” This session will explore the requirements under the Markets in Financial Instruments Directive (MiFID II) related to certain U.S. firms, as well as the challenges of meeting international compliance considerations. The speakers will review the compliance program considerations when providing and paying for investment research, and will provide methods for complying with challenging global regulations.