Investment Management Institute 2009 (Live Webcast)

Apr. 2 - 3, 2009

Overview

Live Webcast on April 2-3, 2009 (E.D.T.)

This is a webcast of the live New York session.

Why You Should Attend

Significant developments in the investment management area over the past year will result in initiatives from Congress, the SEC and other regulators that will be discussed and analyzed during the program.

These include:

The potential for refocusing of the SEC's regulatory role
Priorities of new leadership at the SEC
New fund disclosure rules
Other new adviser and fund substantive rules
Retooling the financial services regulatory scheme
Dealing with potential fund industry consolidation
Recasting money market funds
Dealing with large scale and unanticipated mutual fund redemptions
Reevaluation of trading practices
Hedge and other private fund rulemaking and enforcement actions
Review of differences in regulatory treatment of investment advisers and broker-dealers
Hot topics in insurance products and services, including the SEC's indexed products proposed rule
New SEC fund and compliance positions
Recent litigation and enforcement activities

At this two-day program, you will hear from current and former regulators, industry experts and practitioners about these and other regulatory developments.

What You Will Learn

The prospects for new financial services legislation
Current SEC initiatives
Hedge fund developments
New products and services in insurance products
The latest SEC enforcement and litigation happenings
Current compliance and inspection issues
Ethics

Who Should Attend

This program is designed for attorneys in law firms, in-house counsel, compliance officers, and others involved in current issues affected by the Investment Company Act of 1940 and the Investment Advisers Act of 1940.

Special Bonus to all Registrants

All attendees will receive a complimentary copy of PLI's comprehensive Course Handbook. This softcover, bound volume was written to augment the program and to stand alone as a permanent reference. PLI's Course Handbooks represent the definitive thinking of the nation's finest legal minds, and are often the standard reference in the field.

Please Note: Webcast attendees will receive a downloadable version of the Handbook one business day prior to the 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.

Schedule

All times are E.D.T.

Day One: 9:00 a.m. - 4:30 p.m. (E.D.T.)

Morning Session: 9:00 a.m. - 12:00 p.m. (E.D.T.)

9:00 Introduction and Welcome

B. Barbash and P. Roye

9:15 Keynote Address

Andrew J. Donohue, Director, Division of Investment Management, U.S. Securities and Exchange Commission

9:45 New SEC Agenda

A refocusing of the SEC's regulatory role
Priorities of new leadership at the SEC
New fund disclosure rules
Other new substantive rules

B. Barbash, A. Donohue, J. Goldberg, P. Roye

10:45 Break

11:00 The Aftermath of Recent Market Turmoil - Part I

Retooling the regulatory scheme
Dealing with potential industry consolidation
Recasting money market funds

Moderator: B. Barbash
A. Donohue, A. Nachmany, D. Phillips

12:00 Lunch Break

Afternoon Session: 1:15 p.m. - 4:30 p.m. (E.D.T.)

1:15 The Aftermath of Recent Market Turmoil - Part II

Dealing with large scale and unanticipated mutual fund redemptions
Valuing assets in periods of illiquidity
Reevaluating the use of leverage
Addressing counterparty risks

Moderator: P. Roye
A. Donohue, T. Lemke, R. Zack

2:15 Hedge and Other Private Funds

Addressing insider trading and other hot button issues
Changing principal business terms
Dealing with the prospect of far greater regulation

Moderator: J. Baumgardner, Jr.
T. Biolsi, R. Plaze

3:15 Break

3:30 Hot Topics in Insurance Products and Services

Evaluating the SEC's indexed productsproposed rule
Addressing suitability and supervision concerns in product distribution
Keeping up with synthetic products

Moderator: G. Cohen
W. Kotapish, S. Roth

4:30 Adjourn

Day Two: 9:00 a.m. - 12:45 p.m. (E.D.T.)

9:00 Litigation and Enforcement

Evaluating recent court actions
Gleaning current enforcement themes
Preparing for the actions of multiple regulators

Moderator: B. Barbash
J. Benedict, C. Buford, L. Martin

10:15 Compliance and Inspections

Addressing key adviser and fund compliance issues
Coping with SEC examination priorities
Preparing for sweep and other types of exams

Moderator: P. Roye
G. Gohlke, P. Kirstein, E. Krentzman

11:30 Break

11:45 Ethics

SEC Rule of Professional Responsibility for Issuer's Counsel
Investment adviser's counsel's role in reporting material violations to fund counsel
Law firm advance conflicts waivers
Lawyer's role in complex structured finance transactions
Email and metadata issues

M. Sackheim

12:45 Adjourn

Faculty

Co-Chair(s)

Barry P. Barbash, Willkie Farr & Gallagher LLP
Paul F. Roye, Senior Vice President, Fund Business Management Group, Capital Research and Management Company

Speaker(s)

John E. Baumgardner, Jr., Sullivan & Cromwell LLP
James N. Benedict, Chairman, Litigation Department, Milbank, Tweed, Hadley & McCloy LLP
Thomas A. Biolsi, Principal, Regulatory Consulting Practice, PricewaterhouseCoopers LLP
Charlotte L. Buford, Assistant Chief Counsel, Division of Enforcement, U.S. Securities and Exchange Commission
Gary O. Cohen, Jorden Burt LLP
Andrew J. Donohue, Director, Division of Investment Management, U.S. Securities and Exchange Commission
Gene A. Gohlke, Associate Director, Office of Compliance Inspections and Examinations, U.S. Securities and Exchange Commission
Joel H. Goldberg, Stroock & Stroock & Lavan LLP
Philip L. Kirstein, Senior Officer & Independent Compliance Officer Mutual Funds, AllianceBernstein
William J. Kotapish, Assistant Director; Office of Insurance Products, U.S. Securities and Exchange Commission
Elizabeth R. Krentzman, Principal, Governance, Regulatory & Risk Strategies, Deloitte & Touche LLP
Thomas P. Lemke, Senior Vice President and General Counsel, Legg Mason, Inc.
Lori A. Martin, Partner, Wilmer Cutler Pickering Hale and Dorr LLP
Avi Nachmany, Director of Research, EVP, Strategic Insight
Don Phillips, Managing Director, Morningstar, Inc.
Robert E. Plaze, Associate Director, Division of Investment Management, U.S. Securities and Exchange Commission
Stephen E. Roth, Sutherland Asbill & Brennan LLP
Michael S. Sackheim, Sidley Austin LLP
Robert G. Zack, Executive Vice President and General Counsel, OppenheimerFunds, Inc.

Program Attorney(s)

Lauren Esposito, Practising Law Institute

CLE Credit

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, Arizona, Arkansas, California, Colorado, Delaware, Florida, Georgia, Hawaii, Idaho*, Illinois, Indiana¹, Iowa*, Kentucky*, Louisiana, Maine*, Minnesota, Mississippi, Missouri, Montana, Nebraska, North Carolina, North Dakota, New Hampshire*, New Jersey, New Mexico, Nevada, New York², Ohio³, Oklahoma, Oregon*, Pennsylvania⁴, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Virgin Islands, Washington, West Virginia, Wisconsin, and Wyoming*.

*PLI will apply for credit upon request.

Arkansas, Mississippi, Ohio, Oklahoma, and Rhode Island: 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.

⁴Pennsylvania: 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.

Running time and CLE credit hours are not necessarily the same. Please be aware that many states do not permit credit for luncheon 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.