Financial Services Compliance Boot Camp UNC School of Law Center for Banking and Finance AGENDA. DAY 1 June 11, 2018

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1 1 Financial Services Compliance Boot Camp UNC School of Law Center for Banking and Finance AGENDA DAY 1 June 11, 2018 Time General Session/Break-out Sessions 8:45 am 9:00 am Welcome and Introductions Lissa Broome, UNC School of Law Tracy Calder, LPL Financial 9:00 am- 10:00 am General Session: Building an Effective Compliance Program During this session, participants will learn about the components of an effective Compliance program. Among the topics to be covered are: Culture, governance and oversight Policies, procedures and Compliance education Implementing a Compliance Risk Assessment Integrating technology Moderator: Marie Terezakis, Bank of America Matthew Frank, Bank of America Mike Lambeth, KPMG Tracy O Donnell, Bank of America 10:15 am 11:30 am Breakout Session: Product Basics This session will address key compliance-related issues associated with some of the more common types of products. Among the topics to be discussed are: Equities: Low-priced securities and managing risk in volatile markets Mutual funds: Share class suitability and switching Variable annuities: Replacements and principal review and approval Municipal securities: Required disclosures and trade reporting Loans and lines of credit: Investor risks, fair lending and the Service Members Civil Relief Act of 2000 Breakout Session: Surveillance and Monitoring Systems This session will cover best practices in developing and enhancing surveillance and monitoring programs. Tailoring programs to address the specific nature and risks of a firm s business model Creation and review of exception reports The importance of verifying data source accuracy Technology opportunities and challenges Moderator: Suzy Auletta, LPL Financial Sean Delaney, Bank of America Scott Douglass, UBS

2 2 Moderator: Tracy Whille, KPMG John Han, Moore & Van Allen Sam Turvey, TIAA John F. Malitzis, Citadel Lou Moschetta, Wells Fargo 11:30 am 11:45 am Coffee 11:45 am 1:00 pm Breakout Session: Complex Product Breakout Session: Trading Compliance Issues Suitability This session will address the wide range of issues firms consider with respect to complex products, from determining whether to offer a particular product to its clients, to training registered representatives on the products features and risks. Specific topics to be discussed include: New product approval process Risks of specific product types (e.g., exchange-traded products, alternative investments, structured notes) Industry developments related to cryptocurrency/initial coin offerings Customer-specific suitability Best practices for supervising complex product suitability Training requirements for registered representatives Moderator: Ken Fasone, LPL Financial This session will cover compliance issues related to trading desk activities and the controls firms are required to maintain relative to these activities. Specific topics to be discussed will include: Algorithmic trading Best execution Market access rule Trade reporting requirements Moderator: Stefan Cooper, KPMG John Malitizis, Citadel Wayne Aaron, Milbank Todd Thompson, Wells Fargo West Weemhoff, LPL Financial Andrew Sidman, Bressler, Amery, Ross 1:00 pm 2:15 pm Luncheon Speaker: Susan Schroeder, EVP and Head of Enforcement, FINRA 2:30 pm 3:45 pm Breakout Session: Understanding Fiduciary Duties and Conflicts of Interest Regulators and firms continue to be focused on the identification and mitigation of conflicts of interest that can lead to compliance and supervisory breakdowns. This session will cover: The DOL fiduciary rule and state developments Key conflicts o Outside business activities Breakout Session: Anti-Money Laundering Customer Identification Program (CIP) and Customer Due Diligence (CDD) Best Practices This session will cover the laws and regulations governing firms anti-money laundering programs with a focus on CIP and CDD requirements. Specific topics to be discussed will include: The five pillars of anti-money laundering/bank Secrecy Act compliance Implementation of the new CDD rule (the

3 3 o Gifts and gratuities o Supervisory conflicts Registered representative compensation Best practices in developing a conflicts policy and program Moderator: Melissa Pavese, LPL Charis Jones, LPL Financial Frances Amos, Wells Fargo David Buffa, Bressler Amery Ross 3:45 pm 5:00 pm Breakout Session: Communications with the Public/Social Media The session will cover the ever-evolving area of communications with the public with a focus on the following topics: Advertising do s and don ts Challenges associated with supervising text messaging The use of social media Registered representative titles and designations new, 5 th pillar) Customer risk assessments High-risk customer management Moderator: Charlie George, Wells Fargo Katrina Carroll, LPL Financial Paul O Brien, Wells Fargo Paul Tyrell, Sidley Austin Breakout Session: Anti-Money Laundering Surveillance and Investigations This session will cover the components of an effective anti-money laundering surveillance and investigations program and regulatory trends in this area. Specific topics to be discussed will include: Life cycle of an AML investigation Suspicious activity reporting The importance of connecting the dots Moderator: Emily Gordy, McGuireWoods Elizabeth Gibson, E*Trade David Roscum, FINRA Kimberly Johnson, LPL Financial 5:30 pm 7:00 pm Networking Event Moderator: Charlie George, Wells Fargo Kerry Zinn, Bressler, Amery, Ross Neysa Alecu, Wells Fargo DJ Johnson, Charles Schwab Day 2 June 12, 2018 Time General Session/Break-out Sessions 8:45 am 9:00 am Introduction to Day 2 9:00 am 10:30 am General Session: Senior Investors This session will cover the continued focus by regulators and firms on the issues confronted by the aging investor population. Among the topics to be discussed are: Regulatory developments and areas of focus, including state law requirements Identifying red flags of diminished capacity and financial exploitation Product suitability concerns Implementing effective policies, procedures, and supervision Moderator: Matt Rossi, BB&T Regulatory & Compliance Risk Management

4 4 John McDermott, UBS Amanda Ordemann, LPL Financial Susan George, Bressler, Amery, Ross 10:30 am 10:45 am Coffee 10:45 am 12:00 pm Breakout Session: Sales Practices and Registered Representative Conduct This session will cover regulatory focus areas in connection with sales practices and other conduct of registered representatives. Topics to be discussed include: The suitability and best interest standard Fair commissions and mark-ups Gifts and business entertainment Customer complaint reporting Moderator: Matt Rossi, BB&T Regulatory & Compliance Risk Management Brian Moran, Sterling Capital Management Valecia McDowell, Moore & Van Allen Louis Dempsey, Renaissance Regulatory Services Breakout Session: Maintaining the Integrity of Our Markets This session will cover the regulatory focus on preventing market manipulation and the policies and controls that firms implement to mitigate risk in this area. Topics to be discussed include: Insider trading Pump and dump schemes Developments in regulatory surveillance capabilities Recent trends in enforcement actions Moderator: Ed Rosenblatt, AXA Phil Heidkamp, Wells Fargo Suzy Auletta, LPL Financial Barry Rashkover, Sidley Austin 12:00 pm 1:30 pm Networking Luncheon 1:30 pm 2:30 pm Breakout Session: Branch Inspections This session will cover the components of an effective branch exam program. Specific topics to be discussed include: Tailoring a branch inspections program to the risks specific to the business Best practices and common pitfalls Addressing inspection findings Inspecting remote branch offices Moderator: Tara Gilchrist, LPL Breakout Session: Supervisory Controls and Issues in Supervision This session will cover regulatory requirements and hot topics related to supervision and supervisory controls. Specific topics to be discussed include: Supervision in today s regulatory landscape The impact of changes in technology The 3 lines of defense: role of business, compliance, and internal audit Lessons learned from recent enforcement actions Moderator: Kurt Lofgren, LPL Financial

5 5 Dee O Neill, Merrill Lynch John O Neill, UBS Barry Rashkover, Sidley Austin 2:30 pm 3:30 pm Breakout Session: Cybersecurity and Privacy Shayna Marshall, LPL Financial Elizabeth Hansen, Waddell & Reed Brian Moran, Sterling Capital Andrew Sidman, Bressler Amery Ross Breakout Session: Understanding the Enforcement Process This session will cover the ever growing complexity of cybersecurity and privacy risks that firms face. Specific issues to be discussed include: Regulatory developments and areas of focus Firm governance and oversight Incident response procedures Vendor management Moderator: Brian Soja, Moore & Van Allen Todd Taylor, Moore & Van Allen Michael Adams, McGuireWoods Dan Hilton, Bank of America DJ Johnson, Charles Schwab This session will provide an understanding of the enforcement process and review the lifecycle of an enforcement action. Among the topics to be discussed include: How the enforcement process differs between regulators Regulatory coordination Sanctions and fines Moderator: Ed Rosenblatt, AXA David Jonson, Wyrick Robbins Yates & Ponton LLP Michael Cowart, LPL Emily Gordy, McGuireWoods 3:30 pm - 3:45 pm Coffee 3:45 pm 4:45 pm General Session: The Role of the Compliance Officer in the Evolving Regulatory Landscape This session will cover compliance issues that are of current industry focus, including: Cryptocurrency and initial coin offerings Increasing complexity of fraud and the importance of a robust fraud prevention framework Recent developments regarding the Broker Protocol Moderator: Marie Terezakis, Bank of America Samantha Leventhal, Bank of America Colleen Montano, Bank of America David Boch Morgan Lewis Tracy Whille, KPMG LLP 4:45 pm 5:00 pm Program Wrap-Up

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Annual Compliance Meeting On-Demand Course Segments

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