Phase III: Capstone

Session Description

Advanced Issues in Supervision

This session is designed to provide a deeper analysis of supervision issues raised in Phase I of the program. Instructors Ascher and Bullitt, through a combination of lecture and case studies, explore a variety of nuances illustrating the need for internal controls and supervisory regulations. Specifically, they tackle issues surrounding:

• The role of compliance officers
• The role of management in ensuring compliance with both law and firm policies and supervision of the business
• Failure to supervise; when supervisory gaps are most likely to surface and what lessons can be learned from past cases
• Spotting and avoiding fraud (e.g., Madoff, SocGen)
• The importance of operational controls, including audit, technology reviews, surveillance and policies and procedures
• Conducting internal investigations
• New product due diligence and controls

 

After completing this session, you will be able to:

• Explain why internal controls for broker-dealers are necessary
• Compare communication types between broker and client and discuss inherent obligations with those communications
• Elaborate on recordkeeping issues, particularly as they pertain to electronic communications
• Indicate how securities firms can identify and prevent fraud

 

Instructors:
Rachel Ascher, Global Coordinator of Private Wealth Management Legal, Goldman Sachs
Georgia Bullitt, Partner, Morgan, Lewis & Bockius LLP