L os Angeles, California
THURSDAY, NOVEMBER 18, 2010
(All times Pacific Standard Time)
9 :00 am – 9:05 am WELCOME AND INTRODUCTION
Presented by: Richard M. Phillips
Mr. Phillips concentrates his practice in securities regulation, particularly SEC enforcement, investment management and broker/dealer matters. He
previously held various positions on the SEC staff, including Assistant
to the Chairman; Assistant General Counsel; and Staff Director of SEC
Corporate Disclosure and Investment Company Studies. Contact him on:
415.249.1010 or richard.phillips@klgates.com.
9:05 am – 9:45 am HIGHLIGHTS AND UPDATE ON REGULATORY REFORM
Presented by: Mark D. Perlow and Richard M. Phillips
• Framework of the Reforms: Systemic Risk Regulation, Private Fund Regulation, Derivatives, Credit Ratings
• Impact of the Reform: It Depends on the Regulators Mr. Perlow’s practice focuses on investment management and securities law. He regularly represents mutual funds, investment advisers, fund
boards of directors, hedge funds and broker-dealers on a variety of regulatory and transactional matters. He served as senior counsel in the Office of the General Counsel of the Securities and Exchange Commission from 1998-1999 and in the SEC’s Division of Enforcement
from 1994-1997. He worked on regulatory initiatives on fund governance,
the scope of the securities laws online, personal trading of investment
personnel, and foreign custody of fund assets, and advised the SEC on
enforcement actions involving mutual funds and investment advisers.
Contact him on: 415.249.1070 or mark.perlow@klgates.com.
9:45 am – 10:45 am THE REVITALIZED SEC EXAMINATION AND ENFORCEMENT PROGRAMS
Presented by: J. Matthew Mangan, Mark D. Perlow and Richard M. Phillips
• The Restructuring of OCIE and the Division of Enforcement
• The New Approach to Examinations
• Enforcement: New Tools and Their Aggressive Use
• Major Focus Areas and Enforcement Cases
Mr. Mangan counsels investment advisers, private fund managers and broker-dealers on a variety of fund formation, product structuring, transactional, regulatory and compliance, and securities law matters. He structures and documents U.S. and offshore private investment funds and assists clients with a variety of state and federal regulatory and compliance issues. He also represents government plans and other institutional investors and represents individuals and entities on securities enforcement matters involving the SEC, FINRA and other regulatory authorities. He has substantial experience conducting internal
investigations in matters relating to securities regulation and compliance. Mr. Mangan passed the Certified Public Accountant’s examination and
also served as a judicial extern to the Honorable Thomas E. Carlson,
Judge, U.S. Bankruptcy Court, Northern District of California. Contact
him on 415.249.1046 or matt.mangan@klgates.com.
L os Angeles, California
THURSDAY, NOVEMBER 18, 2010
(All times Pacific Standard Time)
10:45 am – 11:00 am
BREAK
11:00 am – 11:45 am ERISA FOR FUND MANAGERS
Presented by: William P. Wade
• Mutual Funds, Collective Trusts, Private Funds
• ERISA Basics
• Recent Developments
Mr. Wade is a nationally recognized expert on the subject of bank-
sponsored collective investment funds. He concentrates his practice in investment management, ERISA, fiduciary, regulatory, and related securities and tax matters for financial institutions. He has assisted banks,
trust companies, investment advisers, and other financial institutions in planning for and creating collective investment funds, proprietary mutual funds, and other investment management vehicles, products, and services for individual and institutional investors, including employee benefit plans subject to ERISA. Reach him on: 310.552.5071 or william.wade@klgates.com.
11:45 am – 12:15 pm DERIVATIVES REFORM: PRACTICAL IMPLICATIONS FOR ASSET MANAGERS
Presented by: Gordon Peery and Mark D. Perlow
Mr. Peery works exclusively as a derivatives lawyer. He represents a wide
range of clients in the firm’s Investment Management, Derivatives and
Structured Products practice groups and is a leader of the firm’s Derivatives
Task Force. Mr. Peery runs the derivatives, prime brokerage and repurchase
facility training program within the firm. Reach him on: 949-623-3535 or gordon.peery@klgates.com.
12:15 pm – 1:00 pm LUNCH
L os Angeles, California
THURSDAY, NOVEMBER 18, 2010
(All times Pacific Standard Time)
1:00 pm – 2:30 pm CONCURRENT SESSIONS
Separate Mutual Fund and Hedge Fund/Adviser Tracks
1:00 pm – 2:30 pm 1:00 pm – 2:30 pm (choose one Track)
CONCURRENT SESSION
Mutual Fund Track Presented by: Kurt J. Decko and Richard M. Phillips
• Distribution and 12b-1 Reform
• Jones v. Harris Associates and the Contract Renewal Process
• Risk Management and Board Oversight
• The Indirect Effects of Dodd-Frank
Mr. Decko concentrates his practice in the investment management area. He represents and advises investment companies, investment advisers and investment company independent directors in connection with various regulatory, compliance and transactional matters. Prior to joining K&L Gates,
Mr. Decko was an associate in the financial institutions and corporate and
finance groups of a New York law firm dealing with the Investment Company
Act of 1940, the Securities Act of 1933 and private equity matters. From 1999-2000 he was a judicial law clerk for The Honorable Thomas J. Meskill of the U.S. Court of Appeals for the Second Circuit. Contact him on
415.249.1053 or kurt.decko@klgates.com.
CONCURRENT SESSION
Hedge Fund/Adviser Track
Presented by: J. Matthew Mangan, David Mishel and Mark D. Perlow
• The New Era of Hedge Fund Regulation
• The New Form ADV Part 2
• Regulatory Focus Points – Conflicts of Interest, Valuation, Side Letters
• Impact on Private Equity Managers
Mr. Mishel counsels broker-dealers and investment advisers on regulatory and
compliance matters, and represents broker-dealers and investment advisers in
SEC, NASD, NYSE and AMEX investigations and proceedings, as well as in the
formation and licensing process. He advises major broker-dealers about Internet
and online public and private capital raising issues including Dutch auctions. Mr. Mishel also has extensive experience in corporate and securities practice including public and private securities offerings, mergers and acquisitions, venture capital and formation and representation of private investment entities.
Prior to joining K&L Gates, he was a partner at another law firm and worked
previously for the Securities and Exchange Commission as a member of a special task force that authored the WHEAT report, the forerunner of the integrated disclosure system and restricted stock rules. Mr. Mishel served in the U.S.
Navy JAG Corps. Contact him on: 415.882.1015 or david.mishel@klgates.com.
END OF CONCURRENT SESSIONS
L os Angeles, California
THURSDAY, NOVEMBER 18, 2010
(All times Pacific Standard Time)
2:30 pm – 2:40 pm
BREAK
2:40 pm – 3:15 pm
THE REGULATION OF PERSONAL CONDUCT:
POLITICAL CONTRIBUTIONS AND PERSONAL TRADING
Presented by: Kurt J. Decko and Richard M. Phillips
• New Pay-to-Play Rules
• Insider Trading Compliance
3:15 pm – 3:50 pm
DEVELOPMENTS IN MARKET STRUCTURE AND TRADING REGULATION
Presented by: David Mishel and Mark D. Perlow
• Dark Pools, High-Frequency Trading, Flash Orders, and Large Trader Reporting
• The May 6 Flash Crash
• The Continuing Scrutiny of Short Selling
3:50 pm – 4:00 pm
BREAK
4:00 pm – 5:00 pm
REGULATORY CHANGE: NEW PRODUCTS, NEW DEVELOPMENTS
Presented by: Kurt J. Decko, David Mishel, Mark D. Perlow,
Richard M. Phillips and William P. Wade
• Exchange-Traded Funds
• Collective Investment Trusts
• A Fiduciary Duty for Broker-Dealers?
• Target Date Funds