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1Regulation of Securities Markets:Innovation and Best Practiceswww.sca.gov.ae
Sunday May 15 - Wednesday May 18, 2016SCA’s Dubai Office
United Arab Emirates
Orgnized by
Regulation of Securities Markets:Innovation and Best Practices
Golden Sponsers
2 Regulation of Securities Markets:Innovation and Best Practices
Sunday: Regulators, Exchanges, Government Agenciesand Industry ProfessionalsEventTime
Registration08:30 am– 08:55 am
Introduction and Program OverviewSecurities & Commodities Authority, UAE
09:00 am
Key Note AddressH.E. Dr. Obaid Al Zaabi,Acting CEOSecurities & Commodities Authority, UAE
09:15 am
Considerations for Building Capital Markets
Speaker(s): SEC Staff
09:45 am
Coffee Break10:45 am
The Program is designed to be a forum for the exchange of best practices in the innovative development and regulation of securities markets. Senior experts from the U.S. Securities and Exchange Commission will share their insights on examination, compliance, and enforcement programs relating to market participants. The program will explore responses to market abuses, provide observations comparing and contrasting approaches by regulatory systems around the world, and highlight international best practices. The experts will use real-world case studies of market abuse to explore the regulatory, statutory, and other tools securities markets regulators need in order to confront these challenges.
The Program
3Regulation of Securities Markets:Innovation and Best Practices
EventTime
Developing and Managing an Effective Compliance ProgramThis discussion will include cultivating a compliance program for broker-dealers, investment advisers, and other market licensees and registrants. This session will cover the importance of compliance program and the role of a chief compliance officer.
Speaker(s):SEC Staff
11:00 am
Lunch + Prayer Break12:45 pm
Considerations in Regulating Investment Companies and Investment Advisers
Speaker(s):SEC Staff
14:00 am
Recognizing and Mitigating Conflicts of Interest of Market ParticipantsThis session will identify common conflicts of interest among broker-dealers and investment advisers. In addition, it will identify regulatory practices and procedures that can be used to mitigate the damaging effects of these conflicts.
Speaker(s):SEC Staff
15:00 pm
End of Day 1 16:00 pm
4 Regulation of Securities Markets:Innovation and Best Practices
MondayMorning Sessions: Regulators, Exchanges and Govenment
Agencies & Industry Professionals
EventTime
Enforcement Best Practices and an Overview of the SEC Enforcement Program
Speaker(s):SEC Staff
09:00 am
Coffee Break10:00 am
Money Laundering and the Securities IndustryThis session will describe the securities industries’ responsibility to detect and report suspicious activity, how to develop an AML compliance program, the regulator’s responsibility to examine the industries’ compliance with AML obligations, disciplinary actions against the industry for AML failures, and how AML efforts assist enforcement and prosecution efforts.
Speaker(s): SEC Staff
10:15 am
Failures in Compliance Programs
Speaker(s):SEC Staff
11:30 am
Networking Break12:30 pm
Lunch + Prayer Break13:00 pm
End of Day for Industry Professionals
5Regulation of Securities Markets:Innovation and Best Practices
Afternoon Sessions: Regulators, Exchanges and Govenment Agencies Only
EventTime
Market Manipulation & Case Study
Common techniques that fraudsters use to carry out their scams include e-mail spam, Internet chat rooms, paid promoters, and questionable press releases.The speakers will discuss tools for investigating and prosecuting market manipulation cases, including fraudulent “pump and dump” schemes.
Speaker(s): SEC Staff
14:00 pm
Broker-Dealer Enforcement
This session will cover specific investigative steps and focus on the types of cases brought against broker-dealers and their associated persons (boiler rooms, fraudulent statements, unauthorized transactions, churning, excessive mark-ups, commingling of investor assets, and failure to supervise).
Speaker(s): SEC Staff
15:45 pm
End of Day 2 16:30 pm
6 Regulation of Securities Markets:Innovation and Best Practices
TuesdayEventTime
Key Elements in Building an Effective Examination Program and Risk Based Supervision
This discussion will include cultivating a culture of compliance in the industry and best practices in structuring an examination program for broker-dealers, investment advisers, and other market licensees and registrants. This session will include a discussion of complaints, tips & referrals, and how this information can inform both a risk based examination program and enforcement priorities.
Speaker(s): SEC Staff
08:30 am
Insider Trading and Hypothetical Case Study
Illegal insider trading refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security. The speaker will discuss methods for investigating and prosecuting illegal insider trading. This session will feature a hypothetical case study (based on real cases) that will be presented to the audience.
Speaker(s):SEC Staff
09:45 am
Coffee Break11:15 am
Enforcement of Best Practices and an Overview of the SEC Enforcement Program
Speaker(s):SEC Staff
15:00 pm
7Regulation of Securities Markets:Innovation and Best Practices
EventTime
Examinations Framework and a Case Study This session will discuss routine cause and oversight examinations. Topics will include pre-examination preparation, interacting with the registrant, use of deficiency letters, examination reports, and work papers & referrals to enforcement. In addition, this session will address challenges facing regulators in these types of examinations.
Speaker(s):SEC Staff
11:30 am
Lunch + Prayer Break13:00 pm
International Enforcement CooperationThe internationalization of the world’s securities markets and the increased frequency of cross-border trading activity have created a more challenging enforcement environment. It is of critical importance for securities regulators around the world to cooperate in providing access to information necessary for the prevention, detection and prosecution of securities law violations. U.S. and international enforcement efforts and techniques will be discussed, as well as the IOSCO Multilateral Memorandum of Understanding.
Speaker(s):SEC Staff
14:00 pm
Considerations in Regulating Mutual Funds and Investment Companies
14:45 pm
End of Day 3 16:00 pm
8 Regulation of Securities Markets:Innovation and Best Practices
WednesdayEventTime
Financial Accounting and Disclosure Fraud and Foreign Corrupt Practices by Stock Issuing Companies
This session will cover the basic legal requirements governing financial reporting; the sources from which these investigations arise; the common types of financial fraud schemes; the documents that should be obtained and reviewed from the company and the company’s auditor. These concepts will be illustrated through references to an actual SEC case.
Speaker(s):SEC Staff
08:30 am
Considerations in Regulating Investment Advisers09:45 am
Coffee Break10:45 am
Panel Discussion on Interagency Cooperation
Speaker(s): SEC Staff
11:00 am
Government Dialogue with Industry12:00 pm
Lunch + Prayer Break13:00 pm
9Regulation of Securities Markets:Innovation and Best Practices
EventTime
Promoting Innovation in Markets14:00 pm
Question & Answer Session15:00 pm
Future Outlook and Closing Remarks15: 30 pm
End of Program16:00 pm
SEC Staff:
• Dalia Osman Blass is an Assistant Chief Counsel in the Division of Investment Management’s Office of the Chief Counsel.
• Peter B. Driscoll is the first Chief Risk and Strategy Officer in the Office of Compliance Inspections and Examinations (OCIE).
• Matthew Greiner is a Branch Chief in the SEC’s Office of International Affairs (OIA).
• Erin McCartney is a Senior Special Counsel in the SEC’s Office of International Affairs.