Eric Moss is Vice President of FINRA's Office of Emerging Regulatory Issues. In this role, he coordinates FINRA’s cross-department program to anticipate commercial trends within the securities industry that may give rise to pervasive investor protection and market integrity issues, and implements strategic responses.

He served in the same role at NASD before its 2007 consolidation with NYSE Member Regulation, which resulted in the formation of FINRA. Previously, he served as an Associate General Counsel at NASD. Mr. Moss also worked at the SEC as Counsel to SEC Commissioner Laura Unger and in the Office of the General Counsel, and as an associate at the law firm of Williams & Connolly, Washington, DC. Prior to attending law school, he worked as a CPA at the accounting firm of Arthur Young and Company.

Dr. Brown-Hruska is a Vice President in NERA's Securities and Finance Practice. She is a leading expert in securities, derivatives, and risk management. Prior to joining NERA, she served as Commissioner (2002-2006) and Acting Chairman (2004-2005) of the US Commodity Futures Trading Commission (CFTC).

Economics Advisory: Dr. Brown-Hruska provides consulting, analysis, and advisory services to various industries, associations, and entities regarding market design and the implications for credit and financial risk management. She has evaluated and advised on the auction rules and processes for the valuation and allocation of reference entity securities underlying Credit Default Swaps. She has analyzed techniques and innovations in clearing mechanisms for operational and counterparty risk management in the over-the-counter (OTC) derivatives markets. She has also compared and evaluated various markets (exchange and OTC) and auction mechanisms for differences in market quality and their susceptibility to manipulation.

Financial Markets and Information: Dr. Brown-Hruska is an expert on financial markets and how changes in regulation, market structure, and information technology can affect measures of market quality (including liquidity, risk, and price efficiency). She has published various articles and reports on market transparency and the proprietary nature of market information, and has opined on the trading strategies of market makers and how changes in market structure have affected their operation and the efficiency of the markets. As Chairman of the CFTC's Technology Advisory Committee, she directed consideration of intellectual property in trading and settlements technology, the usage of exchange settlement prices in OTC markets, and the regulatory implications of electronic trading.

Energy: Dr. Brown-Hruska provides consulting and advice on energy markets, energy trading, and their regulation. She has spoken on energy issues to many forums and organizations, including the Energy Bar Association, Edison Electric Institute, and the World Forum on Energy Regulation. She has published articles in the Energy Daily on energy derivatives and in theFutures and Derivatives Law Report on market manipulation in the energy markets. She was awarded the Key Women in Energy's Global Leadership Award in March 2004, announced at the National Energy Marketers Association Conference in Washington, DC.

Regulation: Dr. Brown-Hruska served as a member of the President's Working Group on Financial Markets, with the Secretary of the Treasury, Chairman of the Federal Reserve Board, and the Chairman of the Securities and Exchange Commission. She testified on the function and regulation of the US futures and options markets before the US Senate Committee on Agriculture, Nutrition, and Forestry, and the House Subcommittee on General Farm Commodities and Risk Management. She has addressed numerous governmental, financial organizations, and associations, including the International Monetary Fund, Structured Products Conference, Managed Funds Association, Futures Industry Association, Securities Industry Association, Bond Market Association, and the International Swaps and Derivatives Association.

International: Dr. Brown-Hruska participated in high level international meetings with members of the European Commission, the Committee of European Securities Regulators (CESR), the International Organization of Securities Commissioners (IOSCO), and various other governmental and regulatory organizations. She initiated the Transatlantic Cooperation Initiative to identify practical solutions to regulatory challenges in the cross-border derivatives business. She presided over the Joint Meeting of the CFTC and the CESR to Facilitate Transatlantic Business in Paris, and addressed the IOSCO Technical Committee in Frankfurt and New York. Her articles in the area of international regulation have been published in Revue bancaire et financière, International Commodities Review, and Swiss Derivatives Review.

Enforcement: Dr. Brown-Hruska issued separate opinions in adjudicatory matters where the decisions could be detrimental to the conduct of business and in the markets regulated by the CFTC. In Hussain, she argued against a standard that viewed a brokerage firm's efforts to liquidate the margin account of a defaulting customer as a form of unauthorized trading. In Man Financial, she challenged the assumption that omissions absent deceit should be construed as a breach of a fiduciary that rose to the level of fraud. In Nikkhah, Miller, R&W, Gorski, andStaryk, she emphasized the importance of economic methods to achieving deterrence in determining civil monetary penalties. In Gorski, she urged the CFTC to be more open to the use of tools derived from economic analysis, and to strive to complement institutional knowledge of trading practices with empirical techniques for evaluating and interpreting market information that impart greater objectivity and weight to the evidence.

Derivative and alternative assets: Prior to her public service, Dr. Brown-Hruska was an Assistant Professor of Finance at George Mason University (1998-2002) and at Tulane University (1995-1998) specializing in derivative and alternative asset markets. Her articles have appeared in Capital Markets Law Review, Barron's, the Journal of Futures Markets, and the Review of Futures Markets. She holds a PhD and MA in economics and a BA in economics and international studies from Virginia Tech in Blacksburg, Virginia.

Paul Caulfield is Senior Vice President and Deputy Bank Secrecy Act (BSA) Officer at Israel Discount Bank of New York, a leading commercial and private bank with $9 billion in assets and branches in Beverly Hills, Miami and throughout Latin America. He presently heads the Bank’s Compliance Testing Group for all BSA/Anti-Money Laundering (AML) and Consumer Compliance regulations including Fair Lending, Foreign Corrupt Practices Act (FCPA) and Gramm-Leach-Bliley Act (GLBA). He serves as a voting member on the Bank’s Suspicious Activity Report (SAR) Committee and acts as the BSA liaison during annual Safety and Soundness examinations conducted by the Federal Deposit Insurance Corporation and New York State Banking Department.

In 2009, Mr. Caulfield assisted the Bank in exiting a three and half year cease and desist order levied by its regulators for AML deficiencies. His BSA oversight has included foreign correspondent banking, U.S. and international private banking, trade finance and commercial lending with concentrations in Customer Information Programs, Enhanced Due Diligence and Know Your Customer requirements. For non BSA matters, he has assisted the Bank’s broker-dealer subsidiary in complying with the Securities and Exchange Commission and Financial Industry Regulatory Authority's regulations. He served on the Bank’s Business Process Reengineering Committee where he acted as interim head and developed a weekly business intelligence briefing that covered international developments in both private banking and AML compliance.

Prior to this, he was a director at The Arkin Group, an international risk consulting and private intelligence firm operated by the former chief of worldwide operations for the Central Intelligence Agency. In this capacity, Mr. Caulfield oversaw financial investigations and complex due diligence for Fortune 500 companies, financial firms and investment companies while managing former intelligence officers from the CIA, MI6 (Britain), Mossad (Israel) and KGB (Russia) and set internal policies on FCPA, GLBA and Fair Credit Reporting Act requirements. Representative matters included directing a time sensitive audit for a global insurance company under investigation by a state attorney general’s office, assessing terrorist financing allegations by a Middle East bank under investigation by the Office of the Comptroller of the Currency and investigating motives behind a surge in short sales against a publicly traded finance company.

He is formerly the founder of a legal start up that leveraged technology to provide streamlined general business counsel to midsize companies in New York and Washington, D.C. In this capacity he appeared on media networks such as FOX News and MSNBC, and his practice was featured in business and legal journals including The National Law Journal, The Legal Intelligencer and Law.com.

From 2001 through 2004, he served as Manhattan Assistant District Attorney where he investigated and prosecuted street and white collar crimes including international investment fraud, large scale identity theft rings and employee corruption. He began his legal career clerking for the Office of the Independent Counsel, Robert W. Ray, during the Whitewater Development Company/Madison Guaranty Savings & Loan and Paula Jones/Monica Lewinsky matters where he drafted internal memoranda and edited final reports to the U.S. Court of Appeals for the District of Columbia.

He received his law degree from The Catholic University of America and his undergraduate degree from Fairfield University where he was co-captain and all league selection for the Men’s Division I lacrosse team. He holds his Series 7, 24 and 66 securities licenses, is a Certified AML Specialist and speaks Spanish, which he acquired during a year of voluntary service in Durán, Ecuador. He resides in Northport, New York where he is an active member in the Northport Lacrosse Club and Northport/East Northport Drug and Alcohol Task Force.

Richard is CEO of Briefcase Analytics, Inc. (Cambridge, MA). He has 20 years of leadership experience with data and information companies serving legal, business, and professional markets. Richard previously served as CFO &General Counsel of Salary.com Inc. (NASDAQ: SLRY), a compensation data company; and Chief Marketing Officer of Integrity Interactive (Boston, MA), a global provider of compliance risk management services. He began his career as an M&A associate at Milbank Tweed in New York City. Richard has an AB and JD from Georgetown University, and an LLM from the University of Cambridge (UK). He is admitted to the practice of law in New York and the District of Columbia.

Briefcase Analytics helps leading companies reduce supply chain risk. Briefcase mines official databases from 60+ countries around the world to score vendors in risk-areas such as Bribery &Corruption, Sustainability, Environmental Harm, Intellectual Property, Data Privacy, Breach of Contract, and others. Recent Briefcase clients include BP, Microsoft, UK Ministry of Justice, Alcatel Lucent, and Zurich Insurance. Briefcase helps Procurement, Supply Chain, &Legal/Compliance professionals identify high-risk vendors, evaluate low-risk alternatives, and satisfy compliance requirements. Briefcase makes global vendor risk scoring achievable, actionable, and affordable. For more information, please visit www.briefcasedata.com.

Lee G. Dunst is a partner in the New York office of Gibson, Dunn & Crutcher LLP. Mr. Dunst is a member of the firm’s Litigation Department and White Collar Defense and Investigations Practice Group. His practice covers a wide range of general commercial litigation, as well as government investigations and white-collar criminal matters. His extensive experience includes securities class actions, accountants liability cases, directors and officers liability matters and general business litigation. He also represents numerous clients, including individuals, companies and special board committees, in connection with criminal and regulatory investigations. Mr. Dunst has a particular focus on matters involving alleged violations of the Foreign Corrupt Practices Act. He was recognized in The Legal 500 US 2008 edition, in connection with the firm’s White Collar Defense and Investigations practice. Recently, The Legal 500 US 2010 edition described Mr. Dunst as “knowledgeable and responsive,” noting that he “provides a broad range of expertise and regularly advises clients accused of corporate fraud and alleged accounting irregularities, as well as FCPA violations.” He has represented various corporate and individual clients in connection with white-collar criminal investigations by federal and state prosecutors, as well as related civil investigations by the Securities and Exchange Commission, the New York Attorney General’s office, the Financial Industry Regulatory Authority and various state regulators. His cases have included the representation of senior business executives and corporate entities in connection with criminal and regulatory investigations of various types of alleged corporate fraud and alleged accounting irregularities, as well as alleged violations of the FCPA. He also has conducted numerous internal investigations of alleged misconduct at many United States and international companies.

Mr. Dunst has been involved extensively in the successful defense of several securities class action lawsuits filed against major accounting firms and underwriters in federal court in New York, New Jersey, Connecticut and Maryland. He also has defended members of boards of directors in several litigations relating to their performance of their fiduciary duties as board members.

Prior to joining the firm, Mr. Dunst served as an Assistant United States Attorney in the Eastern District of New York from 1995 through 2000, and was involved in a series of significant criminal investigations and prosecutions. He led the investigation and prosecution of an international money laundering organization that operated in the United States and Switzerland, resulting in numerous convictions and the imposition of financial penalties of nearly $10 million, which he successfully defended upon appeal to the United States Court of Appeals for the Second Circuit. In another case, Mr. Dunst received the Director’s Award for Superior Performance from the Department of Justice for the successful prosecution of an insurance fraud scheme that resulted in the payment of $20 million in restitution. During his tenure with the U.S. Attorney’s Office, Mr. Dunst also served as the Deputy Chief of the Narcotics Section and was widely quoted in the national and international media, including The New York Times, Washington Post, Los Angeles Times and Times of London.

Mr. Dunst currently serves on the United States Court of Appeals for the Second Circuit Pro Bono Panel and has been appointed to represent pro se plaintiffs for purposes of several appeals to the Second Circuit. Mr. Dunst also serves on the Advisory Board of the Mount Sinai Adolescent Health Center, which is the first primary care program in New York City specifically designed for the health needs of adolescents. In addition, he is a member of the Advisory Board of the Yorkville Youth Athletic Association, a community-based organization for children’s athletics in New York City.

Mr. Dunst graduated magna cum laude from Brown University in 1986 and cum laude from New York University School of Law in 1992. Following law school, Mr. Dunst clerked for the Honorable Reena Raggi, then of the U.S. District Court for the Eastern District of New York and now on the United States Court of Appeals for the Second Circuit.

Eric Foster counsels banks, broker-dealers, and other participants in the securities, foreign exchange, and derivatives markets on various types of corporate finance transactions as well as compliance, government policy risk assessment, and general legal risk management issues. He has considerable experience providing strategic advice to financial institutions on the legal, operational, and public policy implications of their activities around the globe.

Before joining Patton Boggs, Mr. Foster was a resident of Hong Kong, where he served as Executive Director of the Asia Securities Industry and Financial Markets Association (ASIFMA), an industry forum committed to promoting the development of Asia’s debt capital markets and their orderly integration into the global financial system. While in Hong Kong, Mr. Foster worked with the leading financial services firms in Asia in an effort to harmonize the region’s regulatory regimes and enhance the size, liquidity, integrity, and transparency of local markets for debt securities and other financial instruments.

Mr. Foster was seconded to ASIFMA by the Securities Industry and Financial Markets Association (SIFMA), where he had served as an Associate General Counsel for the organization and its predecessor, The Bond Market Association (TBMA). At TBMA, he was chief advisor to both its Government & Federal Agency Securities Division and its Funding Division. While later serving as Managing Staff Advisor for Global Rates & Funding at TBMA, he was also involved in the industry’s formation in London of the European Primary Dealers Association.

Previously, Mr. Foster was a counsel in the Legal Group at the Federal Reserve Bank of New York (FRBNY), where he served as Secretary to the Financial Markets Lawyers Group and focused on supervisory issues relating to foreign exchange trading, exchange traded financial futures, and the regulation of banks and their over-the-counter derivatives transactions. While at FRBNY, Mr. Foster also served as the Bank’s Chief Legislative Advisor from 1995-2000.

Mr. Foster is a frequent public speaker at international conferences on the debt capital markets and has contributed to various publications devoted to the regulatory treatment of securities, futures and OTC derivatives. He is also an Adjunct Professor and On-Site Director of the University at Buffalo New York City Program in International Finance and Law.

Ken Kopelman provides cross-product legal advice and solutions to banks, broker-dealers, hedge funds and other financial institutions. His practice covers a range of financial products and services.

Ken focuses his practice on derivatives and the application of derivatives in trading, structured products and capital markets. He has practiced in the derivatives area for over 20 years, and his subject matter knowledge covers equity derivatives, credit derivatives and structured products. Ken advises on multiple aspects of derivatives, such as documentation matters, close-outs, insolvency issues, regulatory issues, product structuring and new product development.

Ken’s practice is also focused on securities trading and broker-dealer and securities regulation. He works with and understands trading businesses and the regulatory and legal framework in which they operate. He advises clients in responding to trading questions, handling difficult regulatory and counterparty issues, establishing compliance programs, reviewing internal processes, and developing new products. Ken has advised on legal and regulatory matters for a full range of product areas, including prime brokerage; mortgages; convertibles; high-grade, high-yield and distressed debt; municipals; and energy.

Ken’s transactional practice includes financing of various assets through repos, lending arrangements, derivatives and other structured solutions. He also represents financial institutions in strategic acquisitions and investments in financial assets and companies.

Prior to joining Bingham, Ken was a senior managing director and the head of the Fixed Income and Derivatives Legal Groups at Bear Stearns, where he managed legal and regulatory aspects of the trading, markets and derivatives businesses. Ken had been with Bear Stearns since 1993.

Dr. Ong is currently Professor of Finance at the Stuart School of Business, Illinois Institute of Technology. He was formerly the Director of the Finance Program and the Executive Director of the Center for Financial Markets.

Prior to his retirement from the financial industry in 2003, Professor Ong was Executive Vice President and Chief Risk Officer for Credit Agricole Indosuez in New York. He has enterprise-wide responsibility for all risk management functions for corporate banking, merchant banking, asset management, capital markets activities, and the Carr Futures Group (now Calyon Financial). He was a member of the Executive Committee. He also chaired the Risk Management Committee, Credit Committee, Market Risk Committee, Equity Investment Committee, and the Operational Risk Committee.

Previously, Dr. Ong was Head of Enterprise Risk Management for ABN-AMRO Bank. He was responsible for management information and decision support function for the Executive Committee regarding enterprise-wide market, credit, operational, and liquidity risk, as well as RAROC, ROE, and related optimization models.

Prior to that, Dr. Ong was Head of Corporate Research Unit for First Chicago NBD Corporation (which became Bank One and then merged with JP Morgan Chase). The unit supports the Bank in its global enterprise-wide risk management function – market and credit risk analyses and the allocation of economic capital – and oversees the quantitative research units of the trading areas. He also chaired the Global Risk Management Research Council which was established in recognition of the Bank’s commitment for overall control and coordination of the quantitative research efforts and systems development across all trading units. Prior to that, he was in charge of First Chicago NBD’s Market Risk Analysis Unit and was responsible for quantitative research in the First Chicago Capital Markets Group. Before joining First Chicago NBD, he was responsible for quantitative research at Chicago Research and Trading Group (which became NationsBanc-CRT and then became Banc of America Securities, Inc.). Earlier on, he served as an assistant professor of mathematics at Bowdoin College for seven years with his research specialty in mathematical physics.

In 1992 he was also an adjunct professor at the Stuart School of Business of the Illinois Institute of Technology where he designed the quantitative portion of the Financial Markets and Trading Program, which RISK acknowledged as the first of its kind.

He is a member of the Editorial Board of the Journal of Financial Regulation and Compliance, the Journal of Credit Risk, and the Journal of Risk Management for Financial Institutions. He was the founding editor and Editor-in-Chief of the Journal of Credit Risk, and was on the editorial board of the Journal of RISK and The RMA Journal. He is also a referee for trade and academic journals.

He has written numerous articles and contributed book chapters to industry publications. He is a much sought after speaker in the lecture and conference circuits. He has given many public presentations and keynote addresses, and has chaired many industry conferences.

For several years, Dr. Ong was a member of the advisory board of the Market Risk Council of The Risk Management Association (RMA) and the Academic Advisory Council of The Professional Risk Managers’ International Association (PRMIA).

The second edition of his bestselling book, The Basel Handbook, was published in January 2007. He is the author of the critically acclaimed book, Internal Credit Risk Models – Capital Allocation and Performance Measurement, published by Risk Books in 1999. He is editor of the following bestselling books: Credit Ratings – Methodologies, Rationale and Default Risk (Risk Books, 2002), The Basel Handbook – A Guide for Practitioners (Risk Books, 2004), and Risk Management – A Modern Perspective (Elsevier, 2006). He is the Series Editor for the newly launched Finance Series from Chapman & Hall and CRC Press. He is currently working on his new book entitled, Measuring and Managing Capital for Banks and Financial Institutions, to be published by Risk Books (London) in December 2011.

Dr. Ong is widely recognized in the financial industry for his work on portfolio credit risk modelling, RAROC, economic capital allocation, operational risk, enterprise risk management, his very active involvement in regulatory issues, and his thoughtful candor on issues affecting the financial industry in general. He is widely quoted in industry press. Among his earlier accomplishments in the industry are his contributions to value-at-risk (VaR), counter-party credit risk, market risk capital adequacy requirement, ALM methodology, exotic options, and interest rate term structure models for derivatives.

His current research and professional interests center on:

• Enterprise Risk Management – market risk, credit risk, operational risk, corporate governance, and regulatory issues.
• International finance and capital markets.
• Financial risk modeling and credit derivatives.
• Corporate and investment banking.
• Business strategy and development.
• Financial regulation, risk policies, and compliance

Dr. Ong has been biographed in the Who’s Who in the East, Who’s Who Among Young American Professionals, Who’s Who in Science and Engineering, Intercapital Who’s Who in Derivatives, Who’s Who in Finance and Industry, Who’s Who in Finance and Business, Who’s Who in American Education, Who’s Who in America, and Who’s Who in the World.

Daniel M. Sibears is the Executive Vice President of Member Regulation Programs at FINRA. His career has focused on securities regulation, supervision, compliance, and enforcement, and his legal and management background includes private practice, the Michigan Court of Appeals, the U.S. Securities & Exchange Commission, the National Association of Securities Dealers (NASD), and the Financial Industry Regulatory Authority (FINRA).

Collectively, the three units of FINRA’s Member Regulation Department include over 1,000 staff members in New York City, Washington, D.C., and 15 District Offices geographically disbursed throughout major financial centers in the United States. Cycle and cause examinations, financial surveillance, membership admissions, fixed income regulation, statutory disqualifications, staff training, sales practice and financial policy, broker-dealer preventive compliance programs, and international regulatory relations are all administered through Member Regulation.

In addition to Member Regulation, Mr. Sibears serves as a liaison with state, federal, and international agencies on policy, regulatory, and strategic matters. Mr. Sibears was centrally involved in the creation of the securities industry continuing education program for U.S. broker-dealers, as well as the FINRA Institute at Wharton. Mr. Sibears is the former Chairman of the Board of Trustees for the National Endowment for Financial Education.

At NASD (now FINRA), Mr. Sibears also served two years as the Vice President of District Oversight, three years as Director of Regulatory Policy, and eight years as the Director of the Enforcement Department (formerly the Anti-Fraud Department).

Mr. Sibears received his undergraduate degree from Oakland University and his Juris Doctor Cum Laude from Michigan State University College of Law. Mr. Sibears is licensed to practice law in the Commonwealth of Massachusetts and the State of Michigan, and is admitted to practice before various federal courts.

Mr. Waltz concentrates his practice in international trade and transactions, including drafting and negotiation of international sales, agency, distributorship, technology transfer and license agreements. He routinely counsels clients on the Foreign Corrupt Practices Act (FCPA). In this regard, he assists clients in conducting transactional due diligence and in structuring, negotiating and documenting transactions. He has assisted clients both inside and outside the U.S. in drafting and implementing corporate policies and procedures designed to assure compliance with the FCPA and similar non-U.S. laws and routinely offers training on the FCPA. He has conducted or overseen internal investigations of operations with a view to identifying possible violations of the FCPA and worked closely with clients’ officers and directors in reviewing the results of those investigations. He also supports the firm’s litigators in representing clients that are under investigation for alleged violations of the FCPA.

He also advises clients on export-related issues, including the permissibility of proposed exports under the Export Administration Regulations, International Traffic in Arms Regulations and anti-boycott regulations. He assists clients in obtaining licenses and commodity classifications, creating compliance programs, represents clients in both criminal and administrative enforcement proceedings relating to exports and anti-boycott violations and is a frequent lecturer on export administration issues.

Mr. Waltz also has customs expertise, including valuation, classification, structuring of proposed transactions and the availability of benefits under preferential trade regimes such as the Generalized System of Preferences (GSP) and Caribbean Basin Initiative. He prepares protests, ruling requests and requests for internal advice on classification, valuation, marking and quota issues, and voluntary self-disclosures of past violations. Mr. Waltz has considerable experience with duty-free entry eligibility issues, including petitions for duty-free entry under GSP, the preparation of supporting briefs and participation in the hearing process.

Mr. Waltz counsels clients regarding compliance with U.S. embargoes of countries such as Cuba, Iraq, Iran, and Libya. He has prepared compliance programs, obtained interpretive rulings from the Office of Foreign Assets Control, prepared and filed license applications for a variety of different types of transactions; and has represented clients before both Customs and OFAC in compliance and enforcement proceedings.

Mr. Waltz taught International Business Transactions for two years as an Adjunct Professor at the Columbus School of Law at the Catholic University in Washington, D.C.