This is a webcast of the live New York session.Why you should attend
Nearly 40% of investment advisers that are currently registered with the Securities and Exchange Commission manage at least one private fund. As a result, the SEC’s examination staff has developed new strategies and processes to address the risks associated with managing hedge funds and other private funds. In addition, in light of the Commodity Futures Trading Commission’s increased jurisdiction over private funds, the National Futures Association has also expanded and modified its examinations of hedge fund managers.
At this program, regulators, in-house legal and compliance officers, and outside counsel will discuss the regulatory and compliance challenges facing hedge fund managers from three perspectives:
- Building an effective compliance program and strategies for working with regulators,
- Investor-facing compliance issues, and
- Portfolio trading issues
Panelists will not only provide updates on regulatory developments affecting hedge funds, but also provide practical suggestions for how legal and compliance professionals can cope with the increased compliance burdens and regulatory focus.
What you will learn
- Key regulatory trends affecting hedge funds
- Compliance challenges facing hedge funds in 2014, including SEC and NFA examination priorities
- Constructing and implementing an effective compliance program, and strategies for addressing and anticipating potentially problematic compliance and regulatory risks
- Tips for navigating ethical dilemmas, including managing conflicts of interest, allocating trades and providing effective disclosures
- Current issues affecting investor solicitation and communications and portfolio trading
Special Features
- Earn one full hour of Ethics credit analyzing ethical considerations, including conflicts of interest, trade allocations, and investor communications
- Convenient half-day program format
Who should attend
Hedge funds’ in-house and outside counsel and compliance officers as well as legal and compliance professionals interested in or currently working in the hedge fund industry will benefit from this program.
PLI Group Discounts
Groups of 4-14 from the same organization, all registering at the same time, for a PLI program scheduled for presentation at the same site, are entitled to receive a group discount. For further discount information, please contact membership@pli.edu or call (800) 260-4PLI.
PLI Can Arrange Group Viewing to Your Firm
Contact the Groupcasts Department via email at groupcasts@pli.edu for more details.
Cancellations
All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.
All times are E.S.T.
Afternoon Session: 1:30 p.m. - 5:15 p.m. (E.S.T.)
1:30 Opening Remarks and Introduction
K. Susan Grafton
1:45 Designing an Effective Compliance Program
- Regulatory focus in 2014: views from the SEC and NFA
- The building blocks of an effective compliance program
- Implementation and testing
- Working with regulators and preparing for an exam
Jessica A. Davis, Jane E. Jarcho, Cary Meer, Regina G. Thoele
2:45 Networking Break
3:00 Portfolio Trading Issues
- CFTC compliance challenges, including complying with aggregation requirements
- SEC hot button issues, including the continued focus on Rule 105 of Regulation M and the use of expert networks
- Market structure issues; the heighted regulatory focus on electronic trading
- The prime broker perspective; issues raised by capital introduction and other services
Brian Daly, Michael T. Dorsey, Scott Reinhart, John J. Sikora, Jr.
4:15 Investor Facing Compliance Challenges and Ethical Considerations
- Best practices for interacting with investors and prospective investors
- Regulatory Focus in 2014
- Managing conflicts of interest: weighing the appropriate approach
- Advertising and solicitation and advertising post- JOBS Act
- Soliciting investors and avoiding broker-dealer registration
Michael R. Butowsky, Ken C. Joseph, Joseph McGill
5:15 Adjourn
Chairperson(s)
Speaker(s)
Jessica A. Davis ~ Senior Managing Director, General Counsel & CCO; Co-Head of Operational Due Diligence, Protégé Partners, LLC
Michael T. Dorsey ~ Associate Geberal Counsel and Chief Compliance Officer, RCap Securities, Inc. and Fixed Income
Jane E. Jarcho ~ National Associate Director, Investment Adviser / Investment Company Examination Program, U.S. Securities and Exchange Commission
Ken C. Joseph ~ Associate Regional Director, Investment Management, New York Regional Office, U.S. Securities and Exchange Commission
Joseph McGill ~ Chief Compliance Officer, Legal and Compliance, UBS Global Asset Management
Scott Reinhart ~ Special Counsel and Policy Advisor, U.S. Commodity Futures Trading Commission
John J. Sikora, Jr. ~ Assistant Director, Chicago Regional Office, Asset Management Unit, U.S. Securities and Exchange Commission
Regina G. Thoele ~ Senior Vice President, Compliance, National Futures Association
Program Attorney(s)
PLI makes every effort to accredit its Live Webcasts. Please check the CLE Calculator above for CLE information specific to your state.
PLI's Live Webcasts are approved for MCLE credit (
unless otherwise noted in the product description) in the following states/territories: Alabama, Alaska, Arkansas, California, Colorado, Delaware, Florida, Georgia, Hawaii, Idaho*, Illinois, Indiana
1, Iowa*, Kansas*, Kentucky*, Louisiana, Maine*, Minnesota, Mississippi, Missouri, Montana, Nebraska, North Carolina, North Dakota, New Hampshire*, New Jersey, New Mexico, Nevada, New York
2, Ohio
3, Oklahoma, Oregon*, Pennsylvania
4, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia
5, Virgin Islands, Washington, West Virginia, Wisconsin, and Wyoming*.
*PLI will apply for credit upon request.
Arizona: The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement.
Arkansas and Oklahoma: Audio-only live webcasts are not approved for credit.
1Indiana: Considered a distance education course. There is a 6 credit limit per year.
2New York: Newly admitted attorneys may not take non-transitional course formats such as on-demand audio or video programs or live webcasts for CLE credit. Newly admitted attorneys not practicing law in the United States, however, may earn 12 transitional credits in non-traditional formats.
3Ohio: To confirm that the live webcast has been approved, please refer to the list of Ohio’s Approved Self Study Activities at http://www.sconet.state.oh.us. Online programs are considered self-study. Ohio attorneys have a 6 credit self-study limit per biennial compliance period. The Ohio CLE Board states that attorneys must have a 100% success rate in clicking on timestamps to receive ANY CLE credit for an online program.
4 Pennsylvania: A live webcast may be viewed individually or in a group setting. Credit may be granted to an attorney who views a live webcast individually. There is a 4.0 credit limit per year for this type of viewing. A live webcast viewed in a group setting receives live participatory credit if the program is open to the public and advertised at least 30 days prior to the program. Live webcasts viewed in a group setting that do not advertise at least 30 days prior the program will be considered "in-house", and therefore denied credit.
5Virginia: All distance learning courses are to be done in an educational setting, free from distractions.
Running time and CLE credit hours are not necessarily the same. Please be aware that many states do not permit credit for luncheon and keynote speakers.
Note that some states limit the number of credit hours attorneys may claim for online CLE activities, and state rules vary with regard to whether online CLE activities qualify for participatory or self-study credits. For more information, refer to your state CLE website or call Customer Service at (800) 260-4PLI (4754) or email: info@pli.edu.
If you have already received credit for attending some or the entire program, please be aware that state administrators do not permit you to accrue additional credit for repeat viewing even if an additional credit certificate is subsequently issued.