8:45 Keynote Address: Public Finance Matters The Story of New Orleans

Transcription

1 NAMA 2016 Annual Conference October 5-7 Hotel Monteleone 819 Conti Street, New Orleans Wednesday, October 5 6:00 p.m. Registration Opens 7:00 p.m. Welcome Reception Hotel Monteleone Courtyard Thursday, October 6 7:00 a.m. Registration Opens 7:45 Breakfast 8:30 President s Welcome Terri Heaton 8:45 Keynote Address: Public Finance Matters The Story of New Orleans 9:20-9:30 9:30-10:20 News From the Municipal Securities Rulemaking Board and the SEC s Office of Municipal Securities Leaders from the MSRB and the SEC s Office of Municipal Securities will present on current rulemaking and other regulatory initiatives related to municipal advisors and the broader municipal securities market. Become more familiar with SEC rulemaking in the general municipal securities market and those specific to municipal advisors Identify key regulatory matters, important to municipal advisors, including those related to MSRB Rules G- 20, G- 37 and G- 42 1/Regulatory Ethics MODERATOR: Terri Heaton, President, NAMA; Senior Vice President, Springsted Inc. Lynnette Kelly, Executive Director, Municipal Securities Rulemaking Board Rebecca Olsen, Deputy Director, Office of Municipal Securities, Securities and Exchange Commission 10:20-10:30

2 10:30 10:45 Break 10:45 12:00 OCIE Update: Exam Findings and Future Officials from the SEC s Office of Compliance, Inspections and Examinations will discuss their findings following two years of the MA examination process and their work plan going forward. Gain understanding of OCIE s exam process and key findings from past OCIE exams that are relevant and important to your practice Learn ways to enhance Firm policies and procedures in order to be best prepared for an OCIE exam 1.5/Regulatory Ethics MODERATOR: Dave Sanchez, Of Counsel, Norton Rose Fulbright, LLC Suzanne McGovern, Assistant Director, Office of OCIE, SEC Robert Miller, Supervisory Attorney and Examination Manager, Office of OCIE, SEC 12:00-12:15 12:15 1:30 Lunch 1:30 2:20 Knowing Your Compliance Responsibilities Municipal Advisors have increased responsibilities in order to ensure compliance with MSRB rulemaking and to meet the expectations of SEC examiners. This session will provide a discussion as to how peer MA firms have addressed their compliance responsibilities in order to comply with the current regulatory regime. Identify key items related to rulemaking compliance that need to be incorporated into policies and practices Recognize ways to incorporate compliance responsibilities into project management 1/Specialized Knowledge- Technical MODERATOR: Christina Bourdeau, Chief Compliance Officer & Client Administrator, Fiscal Advisors and Marketing Inc. Brian Colton, Partner, H.J. Umbaugh Suzanne Harrell, President, Harrell & Company Advisors 2:20 2:35 2:35-2:45 Break

3 2:45 3:35 MA Practice Management Municipal Advisors have had to accept numerous new responsibilities recently, including compliance and qualification standards, as well as adjusting to more formalized interactions with clients and other professionals. However, the way in which municipal advisors engage in the business of being a MA and running a MA firm are also changing significantly. This session will provide an overview of issues that Municipal Advisors may be beginning to address as part of their practice. Examine ways to implement and practice tasks built into your policies and procedures Assess whether available insurance options are needed in your practice Recognize business lessons from other firms that may apply to your practice, including data management 1/Business Management& Organization Non- Technical MODERATOR/SPEAKER: Mike Sudsina, President, Sudsina and Company SPEAKER: Steve Apfelbacher, CEO Ehlers and Company Dave Perkins, US Risk 3:35-3:50 3:50-4:00 Break 4:00 5:30 Business Meeting. Closed to Public. Firm representatives only. Association By- Laws Election Committee Updates 6:30 Reception, Broussard s Restaurant 7:30 Annual Dinner, Broussard s Restaurant (Hosted by Build America Mutual BAM) Please note that Broussard s is four blocks from the Hotel Monteleone. No group transportation will be provided Friday, October 7 7:30 a.m. Registration Opens 7:45 Breakfast

4 8:30-9:45 Everything You Always Wanted to Know about Bond Structuring, But Were Afraid to Ask (maybe not everything - just what will fit in the hour we have) The rise of an algorithmic market can make us feel as if we re in The Matrix. This session will present answers to questions that municipal advisors have when structuring bond offerings. Attendees will learn from market experts about bond structuring parameters, including: pricing, couponing, duration and how decisions in these areas should respond to market conditions, tax treatment and investor strategies. Knowing how to research, evaluate information for, and optimize debt structures to the benefit of clients. Gain insight into the practical application of the bond structuring concepts presented. Develop new thinking about knowledge needed to optimize bond structures. Intermediate Forthcoming 1.5/Specialized Knowledge - Technical MODEATOR: Lori Raineri, President, Government Financial Strategies Inc. Shelley Aronson, President, First River Advisory, LLC David Abel, Managing Director, William Blair & Company LLC Winthrop Smith, President, Win Analytics, LLC 9:45-10:00 Sponsor presentations 10:00 10:10 Break 10:10 11:00 Rating Agencies Outlook The credit rating agencies have revised their criteria on numerous types of state and local government credits in recent years. In this session, Moody s, Fitch and Standard and Poor s will provide an overview of these changes, and what to expect in Recognize the criteria being used by the rating agencies to evaluate credits Determine ways in which rating agency methodologies can be applied to client work Identify issues that may be forthcoming from the rating agencies in the future MODEATOR: Brian Osowski, President, AMKO Advisors Representative from Moody s Investor Service Geoffrey E. Buswick, Managing Director & Sector Leader, U.S. Public Finance, Standard and Poor s Global Ratings Laura Porter, Managing Director and Head of State and Local Ratings Group, Fitch Ratings

5 11:00-11:15 11:15-12:05 Disclosure: What MAs Need to Know for Their Clients and Themselves There have been numerous changes in the municipal securities disclosure landscape, that effect issuers and municipal advisors alike. This session will provide attendees with an overview about the information investors want to see from issuers, how issuers and their finance team can help meet disclosure requirements, and what recent SEC enforcement actions mean for all players in the marketplace. Be informed of recent securities law regulatory activity that impact marketplace participants Evaluate how information requested by investors can be provided by clients Recognize tools available to help MAs, issuers and other parties meet disclosure responsibilities MODERATOR: 12:05-12:20 12:30-1:30 1:30-2:20 James Mann, Partner, Ehlers and Company Lisa Washburn, President, National Federation of Municipal Analysts and Managing Director, Municipal Market Advisors Gregg Beinstock, CEO and Co- Founder, Lumesis, Inc. Meredith Hathorn, Foley and Judell Lunch Understanding P3s Public Private Partnerships are being considered by many public entities as a way to finance new projects. This session will help Municipal Advisors better understand these types of transactions, including when they are used in conjunction with a bond issuance, and the role of municipal advisors should serve in these transactions, to best serve their clients. MODERATOR: Tom Kaleko, Client Representative, Springsted Inc. Nathan Flynn, Managing Director, Fifth Third Securities Anthony King, Managing Director, Kidwell and Company Determine the usefulness of P3 financing opportunities for your clients Apply understanding of P3 financings, including risks and rewards, to your knowledge base Identify how P3 financings can be combined with traditional bond financings to meet client project objectives

6 2:20 2:30 2:30-3:20 Special Topic: Bank Loans and Private Placements Bank loans and private placements have become more attractive to state and local governments in recent years, despite a lack of guidance from federal regulators, and varied bank and investor practices. This session will review the current market landscape associated with these financings, as well as how Municipal Advisors should navigate through regulatory limits related to their MA role in these transactions. Secure understanding of the regulatory parameters related to MA work on bank loans Recognize current environment for bank loan and private placement opportunities for your clients Evaluate the pros and cons of recommending a bank loan versus traditional bond financing to your clients. Moderator/Speaker: Alex Handlers, Bartle Wells Heidi Amspaugh, Partner, H.J. Umbaugh Dan Schroder, Senior Vice President/Senior Client Manager, Public Sector Banking, Bank of America Merrill Lynch 3:20-3:30 3:30-4:30 Experience with OCIE Exams (closed session/only for NAMA members) Roundtable discussion from those who have been through the exam process and what MA firms should expect in the future, and how to be prepared for an exam. MODERATOR: Dave Sanchez, Of Counsel, Norton Rose Fulbright Mike Sudsina, President, Sudsina and Associates Dan Wiles, Principal and General Counsel, Fieldman Rolapp and Associates 8/31

7 GENERAL CONFERENCE INFORMATION CPE Credits will be offered*. Please note that CPE credits (as approved by the National Association of State Boards of Accountancy) are not required for NAMA's CIPMA program. Reservation Policy and Payment: Participants must register for the program through the portal - conference- program. Seating is limited; therefore, registration is on a first come, first served basis. To reserve a seat, registration must be accompanied by payment. Substitutions: A one- for- one substitution is allowed. Cancellation and Refund Policies: Certain costs must be incurred on behalf of each attendee in advance of the conference. Due to these costs, no refunds will be given for cancellations received after Friday, September 9, Cancellations received after Friday, September 16, 2016 are subject to a $100 cancellation fee. Registration Deadline and Space Availability: The Registration deadline for the 2016 NAMA Annual Conference is Friday, September 16, Due to space issues, NAMA may close or extend this registration deadline; therefore, early registration is advised. NAMA will close registration prior to the registration deadline if maximum occupancy for the conference facility has been met. At that time, no additional registrations will be accepted. However, interested parties can request to be placed on a waiting list. Enrollment after the deadline is permitted only if space is available. NAMA will post any deadline extension on its website. "Walk- in" registration will be allowed on the day of the program if space is available, so long as the only form of permitted same- day payment (a check) is brought to the Welcome Desk at the venue. Please contact the NAMA conference coordinator at NAMA@municipaladvisors.org to determine if space is available. For more information regarding refund, complaint and/or program cancellation policies, please contact the NAMA conference coordinator at NAMA@municipaladvisors.org. *The National Association of Municipal Advisors (NAMA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have final authority on the acceptance of individual courses for the CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: