ROUNDTABLE NEWS - At the Annual Meeting in Boston, members approved the slate of nominees offered by the Nominating Committee and elected the following new Directors: Charles Bennett, Keith Loveland, Lori Raineri, Thomas Taliaferro and Elizabeth Falk, as President-Elect. The President-Elect serves as the Conference Agenda Chair for the following year. Ms. Falk previously served as President in 2020-2021. Directors are typically elected for a term of three years and often serve two consecutive terms. These five Directors join the seven remaining on the Board. SER looks forward to thriving under their leadership!
ROUNDTABLE NEWS- PRESIDENT'S RECAP by Robert Graham
"What a privilege it was for me to be entrusted to preside over the 31st annual conference for the Securities Expert Roundtable (SER) in Boston. This year, we focused on member-to-member engagement and networking, hands-on workshops to enhance member competencies and presentations from impressive talent from the academia, legal and regulatory fields. Our keynote speaker touched on family, patriotism, respect and leadership under stress. With much appreciation, I want to thank all Guest Speakers, Members Speakers and all Attendees who joined us this year!"
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MEMBER HIGHLIGHT - SER member Colleen Diles was recently interviewed by Julie DiMauro of Global Relay Intelligence Practice (GRIP). Along with Lisa Crossley, Executive Director of the National Society of Compliance Professionals (NSCP), the women discussed the NSCP’s comment letter on the SEC's proposed rule changes on Safeguarding Customer Assets. The organization assembled a 15 member working group, which also consulted its Regulatory Advisory Committee and its board members, to write a comment letter to "reflect the collective concerns of NSCP’s members." Ms. Diles says the NSCP's greatest concern is the definition of custody, stating, "We need more clarity here, in order to put compliance professionals in a better position to successfully implement certain elements of the proposed rule.” You can read the full article here which includes the Comment Letter as well as the SEC's Proposed Amendments.
MEMBER HIGHLIGHT - SER member Gerry Guild has updated his chart of US Economic Statistics for the years 2021 and 2022 for SER's library. For several years Mr. Guild has provided members this overall summary of statistics that include the dollars of outstanding, issuance and trading volume of the various fixed income markets and the equities market. You can access these charts here (2021 and 2022) or in SER's Library under Notable Cases & Other Investment Related Information.
MEMBER HIGHLIGHT - SER member Colleen Diles will be a panelist at the 2023 NSCP National Conference in October. Her intermediate session, "BD LAB: Compliance Testing and Surveillance: Regulatory Expectations", explores the development of effective frameworks for monitoring, testing, and surveillance; deployment of a testing program; utilization of testing results to inform compliance priorities and remediation efforts; and factors for continually monitoring the effectiveness of testing and surveillance practices. For more information on this session, and other details on the event, visit the NSCP website.
ROUNDTABLE NEWS - Many thanks to members Andrew Auslander and Paul Carroll for their webcast on "Margining and Liquidations at U.S. Broker Dealers." The broadcast covered margining requirements including the house requirement, Regulation T and portfolio margining; the risk management view of portfolio margin; the origin and implications of the margin agreement; and liquidation of accounts. Andrew is a financial consultant and expert witness who has more than a decade of experience in secured financing including repo trading and securities lending. He has provided expert consulting in risk management, derivatives and suitability cases and has provided expert advice on margin and liquidation of brokerage accounts. Paul has over 35 years of experience in the Financial Services Industry, primarily in financial services operational control processes and supervisory best practices inclusive of trade capture, settlement, custody and margin lending. Paul served as Vice President in Global Operations for Goldman Sachs & Co., Limited Partner at Spear Leeds & Kellogg, Past-President of SIFMA’s Credit and Margin Society and former member of the SEC/FINRA Portfolio Margin Sub-Committee. The Webcast Committee is proud to broadcast these events to SER members. Members can find the recording of this broadcast in our Library.
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