regulation of securities markets: innovation and best ... · regulation of securities...

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


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.


15:00 pm

End of Day 1 16:00 pm


MondayMorning Sessions: Regulators, Exchanges and Govenment

Agencies & Industry Professionals

EventTime

Enforcement Best Practices and an Overview of the SEC Enforcement Program


09:00 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.


10:15 am

Failures in Compliance Programs


11:30 am

Networking Break12:30 pm


End of Day for Industry Professionals


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.


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).


15:45 pm



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.


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.


09:45 am


Enforcement of Best Practices and an Overview of the SEC Enforcement Program


15:00 pm


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.


11:30 am


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.


14:00 pm

Considerations in Regulating Mutual Funds and Investment Companies

14:45 pm



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.


08:30 am

Considerations in Regulating Investment Advisers09:45 am


Panel Discussion on Interagency Cooperation


11:00 am

Government Dialogue with Industry12:00 pm



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.

regulation of securities markets: innovation and best ... · regulation of securities...

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