San Francisco, California
TUESDAY, NOVEMBER 5, 2013
(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 at 415.249.1010 or richard.phillips@klgates.com.
9:05 am – 9:30 am
The Era of Regulation by Enforcement
• The Activism of the Asset Management Unit
• OCIE as an Enforcement Unit
• Rule 38a-1 as an Enforcement Weapon
Presented by Mark D. Perlow and Richard M. Phillips
• The SEC's Increasing Enforcement Mindset
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 at 415.249.1070 or
mark.perlow@klgates.com.
9:30 am –10:30 am CCO Roundtable: Addressing the SEC's Hot Topics
Moderated by Mark D. Perlow with Industry Speakers
• Conflicts of Interest
•Valuation
• Portfolio Management
• Advertising and Marketing
10:30 am –10:45 am
Break
San Francisco, California
TUESDAY, NOVEMBER 5, 2013
(All times Pacific Standard Time)
10:45 am –11:30 am
ERISA Questions You Were Afraid to Ask — But Better Safe than Sorry
• The 25% Test
• Compliance Considerations
Presented by William P. Wade and Marc Mehrespand
• The Consequences of Fiduciary Status
• QPAM and Other Exemptions
Mr. Mehrespand is a partner in the Washington, D.C. office. He
represents investment advisers, banks, broker-dealers and other
participants in the financial services industry in a practice that
encompasses the major federal securities and commodities laws
as well as general corporate law. In particular, Mr. Mehrespand
regularly works with clients to form and operate U.S. and offshore
private investment funds. He also registers newly-formed investment
advisers, commodity pool operators, commodity trading advisors
and investment companies. Contact him at 202.778.9191 or
marc.mehrespand@klgates.com.
Mr. Wade, a partner in the Los Angeles office, 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. He has also assisted these
institutions in addressing legal problems arising under ERISA and
other fiduciary laws and applicable banking regulations. Before
entering private practice, Mr. Wade was inside counsel for a major
bank for more than ten years, where his responsibilities included
advising the bank’s trust and investment management departments
and affiliates. Contact him at 310.552.5071 or william.wade@klgates.
com.
11:30 am –12:15 pm CPO/CTA Regulation: The CFTC is Here to Stay
Presented by Marc Mehrespand and Industry Speaker
• The "Harmonization" of CFTC and SEC Rules
• Updates on Recent CFTC and NFA Guidance
• Living with CFTC/NFA Compliance
12:15 pm–1:15 pm Lunch
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San Francisco, California
TUESDAY, NOVEMBER 5, 2013
(All times Pacific Standard Time)
1:15 pm – 2:45 pm
CONCURRENT SESSIONS
Separate Registered Fund and Hedge Fund and Private Fund Tracks
(choose one Track)
Concurrent Session
Registered Fund Track
Presented by Kurt J. Decko, Richard M. Phillips and Yusef Alexandrine
1:15 pm – 2:45 pm
• Morgan Keegan and Northern Lights:
What They Mean for Fund Directors and Managers
• Distribution and the SEC's Focus on Sub-Transfer Agents
• The Expanding World of ETFs, Including Actively Managed ETFs
• The State of Money Market Fund "Reform"
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 at 415.249.1053 or kurt.
decko@klgates.com.
Mr. Alexandrine is an associate in K&L Gates’ San Francisco office and
a member of the Investment Management practice group. He advises
participants in the financial services industry, including investment
advisers to hedge funds, private equity funds, and venture capital funds,
registered open-end and closed-end funds, exchange traded funds and
mutual funds, as well as mutual fund independent directors, investment
banks and broker-dealers, on regulatory, transactional and counseling
matters involving the securities and commodities laws. He also regularly
provides advice with respect to exemptions, no-action letters, and other
forms of regulatory relief. In addition, he advises clients on state blue
sky issues, particularly California securities law regulatory issues. He
may be reached at 415.249.1044 or yusef.alexandrine@klgates.com.
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San Francisco, California
TUESDAY, NOVEMBER 5, 2013
(All times Pacific Standard Time)
Concurrent Session
1:15 pm – 2:45 pm
Hedge Fund and Private Fund Track
Presented by J. Matthew Mangan, Marc Mehrespand, Mark D. Perlow
and Sonia Gioseffi
• The JOBS Act and the New General Solicitation Rules
• The Reg D Bad Actor Rules and Compliance Challenges
• Marketing and Sales Professionals and Broker-Dealer Status Issues
• Examination and Enforcement Focus Areas
• The Cross-Border Reach of AIFMD
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. Contact him at 415.249.1046 or matt.mangan@klgates.
com.
Ms. Gioseffi is an associate in the San Francisco office and
concentrates her practice in the investment management area,
where she focuses on a variety of regulatory, transactional and
counseling matters involving state and federal securities laws.
She advises sponsors regarding the organization and regulatory
requirements of private equity funds, venture capital funds, hedge
funds and other private investment funds. She also represents
institutional investors and public pension plans in connection with
their investments in private investment funds. Contact her at
415.882.8006 or sonia.gioseffi@klgates.com.
END OF CONCURRENT SESSIONS
2:45 pm – 3:00 pm
Break
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San Francisco, California
TUESDAY, NOVEMBER 5, 2013
(All times Pacific Standard Time)
3:00 pm – 3:45 pm
Derivatives Reform in 2013: The New Regime Settles In
Presented by Juan Arciniegas and Industry Speaker
• CFTC and SEC Cross-Border Guidance
• Getting Ready for Central Clearing
▪ Legal Documentation
▪ Trade Processing and Operational Issues
▪ Collateral and Risk Mitigation
• Regulatory Reform and What to Expect Next
Juan Arciniegas is a counsel in the firm’s New York and Orange County
offices. Mr. Arciniegas works primarily as a derivatives lawyer and has
substantial experience in derivatives and commodities trading
documentation, including documentation relevant to futures, prime
brokerage, OTC clearing, securities lending, and repurchase
transactions. In that regard, Mr. Arciniegas advises on a range of
substantive rules and regulations related to derivatives reform and
regularly participates in industry initiatives in the development of
standards in the OTC and cleared derivatives markets. Contact him
at 212.536.4844, 949.623.3579 or juan.arciniegas@klgates.com.
3:45 pm – 4:00 pm
Break
4:00 pm – 5:00 pm
Regulatory Regime Change? Views from the Industry
Moderated by Richard M. Phillips with Industry Speakers
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