AICPA/SIFMA FMS National Conference on the Securities Industry 2012 Live

Nov 29, 2012 ‐ Nov 30, 2012



Sessions

The Securities Industry: A CEO's Perspective

Nov 29, 2012 9:00am ‐ Nov 29, 2012 9:50am

As the head of one of the largest securities firms in the world, James Gorman has a bird’s eye view of the past, present and future of the financial services industry. He will provide us with his perspective on where he thinks the industry is headed, both globally and here in the US.

Speaker(s):

Accounting UpdateAccounting Update

Preview Available

Accounting Update

Nov 29, 2012 9:50am ‐ Nov 29, 2012 10:40am

While the FASB and SEC are working to develop the rules, regulations, and standards governing certain accounting practices across all sectors, there are other accounting issues that practitioners are working on with their securities industry clients. David will discuss select accounting developments and implementation issues for securities industry participants.

Speaker(s):

Analysts View of the Banking and Securities Industries

Nov 29, 2012 11:10am ‐ Nov 29, 2012 12:00pm

Jason and Roger are leading analysts covering the financial services industry. They will provide their views and insights on the regulatory, economic and political implications currently impacting the financial industry.

Speaker(s):

Report on the Progress of the Interim Inspection Program of Audits of Brokers and Dealers

Nov 29, 2012 1:00pm ‐ Nov 29, 2012 1:50pm

The Dodd-Frank Act gave the PCAOB authority with respect to the inspections, standards-setting, investigations, and disciplinary proceedings over auditors of brokers and dealers. Following that, the PCAOB began interim inspections of broker-dealer audits to help in its process of developing a permanent inspection program. This summer the PCAOB released its report on the interim inspections conducted at securities firm audits. Bob Maday will walk us through what they found and how those findings might shape the PCAOB’s permanent program.

Speaker(s):
  • Robert Maday, Regional Associate Director, Division of Registration and Inspections, Public Company Accounting Oversight Board

Liquidation of Large Broker Dealers and FCMs - The Challenges Faced and Lessons for the Future

Nov 29, 2012 1:50pm ‐ Nov 29, 2012 2:40pm

Three of the largest liquidations in SIPC’s 42-year history are taking place now, with James Giddens as the trustee for two of them, Lehman Brothers and MF Global. Chris Kiplok, who serves as chief of staff and principal deputy to the trustee, will provide insight regarding the challenges faced in the liquidations, and give his views about lessons learned for the future.

Speaker(s):

How Can the Customer Protection System Be Improved?

Nov 29, 2012 3:05pm ‐ Nov 29, 2012 3:55pm

Following the liquidations of Lehman, Madoff, MF Global and Peregrine, much attention is being paid to the adequacy of the protections afforded by the securities and commodities custody rules. Mike Macchiaroli and Kevin Piccoli will discuss current proposals that their agencies are considering and ideas for potential further improvements.

Speaker(s):

Challenges Related to Implementation of the Volcker Rule - A Panel Discussion

Nov 29, 2012 3:55pm ‐ Nov 29, 2012 5:10pm

When Dodd-Frank was enacted, it included a provision that prohibits “proprietary trading” by certain banks and their affiliates—popularly referred to as the “Volcker Rule.” Since then, the U.S. banking agencies have proposed rules that include specific requirements designed to determine, among other things, what transactions should be treated as proprietary trades. These proposals would require a lot of effort by securities firms to comply, and include extremely detailed data mining and complex quantitative risk analysis. Our panel of experts will explain those requirements and provide insight on what their clients are doing to prepare.

Speaker(s):

Too Big to Fail and the Structure of the Financial Services Industry

Nov 30, 2012 8:45am ‐ Nov 30, 2012 9:35am

Following the financial crisis, much attention has been paid to the stability and structure of the financial services industry. Thomas Hoenig has been outspoken and provocative in his view regarding how restructuring the industry will improve financial stability, reduce barriers to entry, and increase industry competitiveness. The FDIC has recently been given added responsibility for resolving large, complex financial institutions. It is also a key participant on the Financial Stability Oversight Council. Director Hoenig will share his vision of the financial industry and the role of securities firms.

Speaker(s):

Legislative and Regulatory Policy Update

Nov 30, 2012 9:35am ‐ Nov 30, 2012 10:25am

A former U.S. Congressman from Texas and prior member of the House Financial Services Committee, Ken will provide insight on how SIFMA is working with regulators, legislators and market participants to promote the securities industry’s substantive reform agenda and its efforts to stabilize the financial markets. He will also offer insights on what impact the election result may have on the financial services industry.

Speaker(s):

FASB UpdateFASB Update

Preview Available

FASB Update

Nov 30, 2012 10:45am ‐ Nov 30, 2012 12:00pm

The mission of the FASB is to establish and improve standards of financial accounting and reporting for the guidance and education of the public, including issuers, auditors, and users of financial information. Kevin will review recently enacted accounting standards which may have a direct impact on the securities industry and provide an update on potential evolving issues.

Speaker(s):
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