As the contours of financial regulatory reform begin to develop, it is critical to identify now the potential compliance implications for broker-dealers, among others. Since the peak of the financial crisis, there has been a shift in regulatory focus to issues such as fiduciary responsibility, short selling, OTC derivatives, disclosure, investment advisor regulation and more. This panel will review the regulatory changes that have occurred over the last year in relation to broker-dealers, those yet to come and how the impending changes will impact firms and compliance.

The Federal Reserve will gain significant new systemic risk and oversight powers under the Obama Administration’s regulatory restructuring plans, including the authority to require reports, conduct exams and impose stricter prudential requirements on regulated entities. With the Fed now the primary regulator of many large broker-dealers, investment banks and FHCs, firms need to familiarize themselves with the new regulatory environment and the practices and culture of regulation at the Fed. This panel will address what firms can expect from the Fed and provide a roadmap to successfully dealing with their new regulator.

Money laundering, terrorist financing and other financial crimes continue to remain a large concern for firms and regulators alike as the global markets begin to recover. With additional emphasis on fighting institutional financial crimes - mortgage fraud, Ponzi schemes, data and identity theft, tax evasion - firms need to assess the priorities both new and old on a risk-weighted basis. What will regulators be focusing on over the next 12 months? Panelists will explore the answer to this question, along with recent impact cases, the lessons other firms can learn and current practices for managing risk in the financial crime arena.

Tougher oversight for financial firms is one of the few certainties as we look to the future of regulation. Record-setting fraud cases, looming regulatory reform and shrinking tolerance for malfeasance of any kind provide the background for an aggressive overhaul by the SEC and FINRA of their examination programs. Firms can expect this new approach to include more sweep exams, stricter deadlines to produce information, increased pre-exam preparation, and highly specialized and knowledgable examiners. This panel will address likely forthcoming examination priorities and what firms can do to ensure they are fully prepared to meet the more stringent requirements.