|Now in its 20th year, Securities Forum has kept broker-dealers, investment advisers, financial planners, securities attorneys, bankers, insurance agents, accountants and other financial professionals up-to-date on regulatory developments.|
New Keynote Speaker
Robert J. Shiller, ground-breaking author and Arthur M. Okun Professor of Economics at Yale University, will deliver the keynote address. Professor Shiller is best known for his extensive writings in the area of financial market analysis. His book Irrational Exuberance, published in sixteen languages, predicted the bursting of the tech stock bubble eight years ago. Just last month, Shiller released his latest book, Subprime Solution: How the Global Financial Crisis Happened and What to Do About It. The book analyzes the housing and economic crisis and offers timely steps to address the problem. Professor Shiller writes the "Economic View" column for The New York Times as well as a regular column, "Finance in the 21st Century", for Project Syndicate which publishes around the world. Professor Shiller has lectured extensively on the financial markets and has conducted significant research in the area. His repeat-sales home price indices, developed originally with Karl E. Case, are now published as the Standard & Poor’s/Case Shiller Home Price Indices. The Chicago Mercantile Exchange now maintains futures markets based on these indices. Professor Shiller has also co-organized behavioral finance and macroeconomics workshops for the National Bureau of Economic Research. Co-founder and chief economist of MacroMarkets LLC, Professor Shiller also served as Vice President of the American Economic Association in 2005 and President of the Eastern Economic Association from 2006 to 2007. Professor Shiller has taught at Yale since 1982 and previously held faculty positions at the Wharton School of the University of Pennsylvania and the University of Minnesota. He received his Ph.D. in economics from the Massachusetts Institute of Technology in 1972 and his B.A. from the University of Michigan in 1967.
General Session: New Directions for the Financial Services Industry
Is there light at the end of the tunnel? What lies ahead for the battered financial markets and the economy? Challenge your assumptions about upcoming trends in this probing discourse covering the actions taken by Congress and the regulatory agencies in response to the subprime lending crisis and its aftermath; the proposed Paulson Plan reforms; and the outlook for participants in the financial services industry.
Investment Advisory Clinic
Geared for the smaller investment advisory firm, this practical session will size up recent regulatory developments, including revisions to Form ADV Part II and new Connecticut laws governing the safeguarding of client data. The panel will also discuss referral fee and other compensation arrangements as well as strategies for avoiding conflicts of interest. You will also learn how the State sets examination priorities, how to best prepare for a records examination and what to do if your firm is cited for records violations.
This session will explore important issues affecting the brokerage industry, including enhancements to the Central Registration Depository (CRD) system; FINRA’s new statutory disqualification definition; developments affecting the arbitration process and the expungement of agent disciplinary records; and licensing “hot spots” at the state and federal levels.
Accent on Capital Formation
This segment measures the pulse of emerging growth and venture capital firms in an increasingly volatile economy. Panelists will also highlight regulatory changes affecting the industry and private placements, including proposed modifications to federal Regulation D and newly adopted changes in Form D and related filing requirements; the easing of Rule 144 resale restrictions on unregistered securities; and streamlined disclosure requirements for smaller public companies.
Market Volatility, the Credit Crisis and the Hedge Fund Industry
Are advisers to hedge funds and other private investment vehicles able to weather the economic downturn? What problems do they face in terms of risk management, pricing practices, due diligence, insider trading and “naked” short selling? Join a seasoned team of experts as they analyze these questions and more in a thought-provoking exchange.
Meet the Regulators
Take advantage of a unique opportunity to hear about current licensing, enforcement and examination issues from top regulators at the state and federal levels. Ample time will be provided for your questions on compliance solutions and regulatory policy trends.
Beat the Regulators: Defensive Strategies for Broker-dealers and their Legal Counsel
Economic retrenchment in the securities brokerage business poses special concerns for broker-dealers and their legal counsel, including supervisory dilemmas, agent outside business activity, “selling away”, customer suitability issues and the safeguarding of client information in a departing broker’s “book.” What are the best strategies for avoiding liability? When should a firm “self-report” to regulators and what remedies should be proffered in settlement? Join a panel of experienced defense counsel as they tackle these issues in a true to life case study.
As an added bonus, Securities Division staff will be available throughout the day to provide general advice or to discuss your individual issues.