Program
October 24 and 26 • Virtual
Program
All program times are shown in eastern time (ET).
Tuesday, October 24 | Thursday, October 26
Tuesday, October 24
11:00–11:10 a.m.
Welcoming Remarks
11:10–11:55 a.m.
Keynote Fireside Chat
WILLIAM BIRDTHISTLE
Director
Division of Investment Management
Securities and Exchange Commission
SUSAN OLSON
General Counsel
Investment Company Institute
11:55 a.m.–12:50 p.m.
Drinking from a Firehose: The SEC’s Rulemaking Agenda for Funds and Advisers
The SEC’s rulemaking affecting funds and advisers has continued at a dizzying pace over the past year. This panel will discuss the agency’s current agenda and what’s next on the horizon.
SARAH BESSIN, Moderator
Deputy General Counsel, Markets, SMAs and CITs
Investment Company Institute
HEIDI HARDIN
Executive Vice President and General Counsel
MFS Investment Management
VEENA JAIN
Partner
Faegre Drinker Biddle & Reath LLP
NASEEM NIXON
Vice President and Associate Counsel
Capital Research and Management Company
SARAH TEN SIETHOFF
Deputy Director and Associate Director, Rulemaking Office
Division of Investment Management
Securities and Exchange Commission
12:50–1:50 p.m.
Ropes & Gray Thought Leadership Session
Artificial Intelligence: Advisor Risks and Board Oversight
Ropes & Gray attorneys will discuss how asset managers are currently using AI; SEC regulations and enforcement actions around AI practices, including the recently proposed predictive data analytics conflicts of interest rules; the interaction of AI and privacy laws applicable to asset managers; and the role of fund boards in overseeing AI in mutual funds.
KEVIN ANGLE
Counsel
Ropes & Gray LLP
MIKE DOHERTY
Partner
Ropes & Gray LLP
JAMES McGINNIS
Counsel
Ropes & Gray LLP
JAMES THOMAS
Partner
Ropes & Gray LLP
1:50–2:35 p.m.
Try, Try, Try Again: The SEC Adopts Another Round of Money Market Fund Reforms
The SEC’s most recent amendments to the rules governing money market funds take effect in 2024. Join this panel of experts to hear the latest, including insights into challenges and potential impacts.
BRENDEN CARROLL, Moderator
Partner
Dechert LLP
ANDREW DeLORME
Managing Director and Managing Counsel
State Street Global Advisors
NEESA PATEL SOOD
Partner
Willkie Farr & Gallagher LLP
LAURA STANLEY
Director
Invesco Investment Services, Inc.
2:35–2:45 p.m.
Break
2:45–3:30 p.m.
Economic Analysis and Its Impact On SEC Rulemaking
Every proposed and final SEC rule contains an economic analysis. This panel will discuss how a proposing or adopting release interacts with its economic analysis and how comment letters contribute to the economic analysis.
CHRISTOF STAHEL, PhD, Moderator
Senior Economic Advisor
Investment Company Institute
PROF. MARK FLANNERY, PhD
Bank of America Eminent Scholar Chair
Eminent Scholar
Warrington College of Business
University of Florida
Former Chief Economist and Director
Division of Economic and Risk Analysis
Securities and Exchange Commission
JENNIFER MARIETTA-WESTBERG, PhD
Vice President
Cornerstone Research
Former Deputy Chief Economist and Deputy Director
Division of Economic and Risk Analysis
Securities and Exchange Commission
Thursday, October 26
11:00–11:05 a.m.
Welcoming Remarks
11:05–11:50 a.m.
Keynote Conversation
A Conversation with Former Commissioner Roisman About the SEC (Past and Present)
Join us for a spirited conversation between former SEC Commissioner Elad Roisman and Barry Barbash, former director of the SEC’s Division of Investment Management. They will offer perspective on the SEC’s current approach to rulemaking, exams, and enforcement and their experience at the Commission.
ELAD ROISMAN
Partner
Cravath, Swaine & Moore LLP
Former Commissioner
Securities and Exchange Commission
BARRY BARBASH
Former Director, Division of Investment Management
Securities and Exchange Commission
Retired Partner
Willkie Farr & Gallagher LLP
11:50 a.m.–12:05 p.m.
Break
12:05 –12:50 p.m.
Taking a Trip Through the States: Considerations for ESG Funds and Their Boards
State officials—including legislators, attorneys general, treasurers, secretaries of state, and others—are actively taking steps to assure that their residents are protected from foregoing financial returns because of the pursuit of environmental, social or governance objectives. The panel will discuss recent state developments, what may be on the regulatory horizon, and how fund boards and advisers are navigating these issues.
KEVIN ERCOLINE, Moderator
Assistant General Counsel-Securities Regulation
Investment Company Institute
MARGUERITE BATEMAN
Partner
Vedder Price, PC
LANCE DIAL
Partner
K&L Gates
ROB SWEENEY
Government Affairs Officer, State Policy
Investment Company Institute
12:50–1:50 p.m.
Lunch Break/Thought Leadership Sessions
Morgan Lewis Thought Leadership Session
Practical Perspectives on Managing the Regulatory Environment Under Chairman Gensler
Taking into account his completion of Chairman Jay Clayton’s term from April through June of 2021, Thanksgiving Day 2023 will mark the halfway point of Gary Gensler’s tenure as Chair of the US Securities and Exchange Commission (SEC). With Chairman Gensler at the helm, the pace of rulemaking at the SEC has been unprecedented and at times nearly impossible for the industry to keep pace with.
Building on the theme of the ICI panel with the SEC Staff on August 25th, a team of Morgan Lewis lawyers will look back over the last 2.5 years of new, amended, and proposed rules affecting registered funds and predict what may be around the corner for the second half of Chairman Gensler’s term. Panelists will consider practical perspectives of fund advisers and their legal and compliance departments, fund boards, and fund shareholders.
Topics will include:
- Proxy voting
- Money market fund re-reform
- Cybersecurity
- ESG
- The “Names Rule”
- Swing pricing
- Liquidity risk management
Speakers:
LEA ANNE COPENHEFER
Partner
Morgan Lewis
LAURA FLORES
Partner
Morgan Lewis
DAVE FREESE
Partner
Morgan Lewis
AMY McDONALD
Associate
Morgan Lewis
JOHN McGUIRE
Partner
Morgan Lewis
JACK O’BRIEN
Partner
Morgan Lewis
Dechert Thought Leadership Session
Navigating the Juxtaposition Between EU and U.S. ESG Regulations
Global managers are well aware that funds marketed in the EU must adhere to disclosure and reporting requirements relating to environmental, social and governance (ESG) factors. It is becoming increasingly difficult for managers operating in both the U.S. and EU markets to navigate the juxtaposition between EU and U.S. regulations on the role of ESG in asset management. In this session, U.S. and European members of Dechert’s financial services group will discuss how managers with a global distribution strategy can seek to thread the needle between these varied and sometimes conflicting approaches.
JULIEN BOURGEOIS
Co-head Global ESG and Sustainability Practice
Dechert
MIKE MCGRATH
Partner
Dechert
MIKHAELLE SCHIAPPACASSE
Co-Head Global ESG and Sustainability Practice
Dechert
1:50–2:50 p.m.
Continuing the Engagement: A Conversation with the SEC’s EXAMS and Enforcement Staff
This panel will discuss what the SEC’s EXAMS and Enforcement Division are focused on under SEC Chair Gary Gensler and what it means for registrants.
TAMARA SALMON, Moderator
Associate General Counsel
Investment Company Institute
ANDREW DEAN
Co-Chief, Asset Management Unit, Division of Enforcement
Securities and Exchange Commission
VANESSA HORTON
Associate Regional Director, Division of Examinations
Securities and Exchange Commission
ANTHONY KELLY
Partner
Dechert LLP
2:50 –3:00 p.m.
Break
3:00 –3:30 p.m.
DC Deep Dive: Legislative Overview and Developments
JOHN EMLING, Moderator
Chief Government Affairs Officer
Investment Company Institute
HEATHER MCHUGH
Principal
Resolution Public Affairs
MANNY ROSSMAN
Partner
Harbinger Strategies