Program
March 19–22 • Palm Desert, CA
Program
All program times are shown in pacific time (PT).
Sunday, March 19 | Monday, March 20 | Tuesday, March 21 | Wednesday, March 22
Sunday, March 19
2:00–4:00 p.m.
Modernizing the 1940 Act for Today’s Investors and Markets | Sinatra Ballroom
ICI has established working groups to consider possible ways to modernize the 1940 Act regulatory scheme. ICI and IDC staff, together with partners from participating law firms, will report on progress to date.
This session is closed to the media.
4:00–7:00 p.m.
Conference Registration | South Counter
5:00–7:00 p.m.
Welcome Reception | JW Pavilion
Monday, March 20
7:00 a.m.–4:15 p.m.
Conference Registration | South Counter
7:00–8:30 a.m.
Breakfast | Springs Patio
8:30–8:35 a.m.
Welcoming Remarks | Sinatra Ballroom
TERRY NILSEN
President and Chief Operating Officer
Hennessy Advisors, Inc.
8:35–8:55 a.m.
ICI President’s Address | Sinatra Ballroom
ERIC J. PAN
President and CEO
Investment Company Institute
9:00–9:30 a.m.
Keynote Remarks | Sinatra Ballroom
WILLIAM A. BIRDTHISTLE
Director, Division of Investment Management
Securities and Exchange Commission
9:30–10:30 a.m.
GENERAL SESSION
Sprinting a Marathon: Keeping up with the SEC’s Rulemaking Activity | Sinatra Ballroom
The pace and volume of the SEC’s investment management rulemaking activity in 2022 were extraordinary, and 2023 promises to be no different. This panel of senior industry and SEC experts will discuss key regulatory developments impacting funds, investment managers, and markets.
SUSAN M. OLSON, Moderator
General Counsel
Investment Company Institute
PAULITA A. PIKE
Partner
Ropes & Gray LLP
JOSHUA D. RATNER
Head of Americas Operations
Pacific Investment Management Company LLC
MARA L. SHRECK
Managing Director
Head of Regulatory Affairs – Asset & Wealth Management
J.P. Morgan Chase & Co.
SARAH G. TEN SIETHOFF
Deputy Director and Associate Director for Rulemaking
Division of Investment Management
Securities and Exchange Commission
10:30–11:00 a.m.
Refreshment Break | Sinatra Foyer
11:00–11:45 a.m.
CONCURRENT PANELS
Session A: Fund Disclosure Developments: Implementing the SEC’s New Tailored Shareholder Report and Form N-PX Requirements | Sinatra Ballroom
The SEC recently adopted sweeping changes to fund shareholder report and proxy voting reporting requirements. Hear from a group of industry experts discussing some of the latest issues and challenges that firms are facing as they implement these new rules.
ERICA L. EVANS, Moderator
Assistant General Counsel
Investment Company Institute
JILL M. FORTE
Senior Counsel
Thrivent Financial
MEGAN C. JOHNSON
Partner
Dechert LLP
TIMOTHY W. McHALE
Senior Counsel
Capital Research and Management Company
Session B: SMAs and CITs for Retail Investors: Regulatory and Compliance Considerations | Springs Salon G
Separately managed accounts (SMAs) and collective investment trusts (CITs) are increasingly being used by investment management firms to deliver investment strategies to retail investors. Join us for this interactive panel that will discuss industry trends and key regulatory and compliance considerations raised by these products.
SARAH A. BESSIN, Moderator
Deputy General Counsel – Markets, SMAs & CITs
Investment Company Institute
VADIM AVDEYCHIK
Partner
Clifford Chance US LLP
KASEY LEKANDER
Senior Vice President and Deputy General Counsel
State Street Global Advisors
DEIDRE E. WALSH
Managing Director
Morgan Stanley Eaton Vance
Session C: Cross-Discipline Collaboration as the Industry Landscape Evolves | Springs Salon F
Coordination and collaboration across disciplines has become even more essential. Join us to hear tax, accounting, and securities law experts discuss how they navigate new ways to structure/wrap products, renewed interest in existing products, and tax-related developments impacting products and investments.
KEITH LAWSON, Moderator
Deputy General Counsel, Tax Law
Investment Company Institute
ALLISON M. FUMAI
Partner
Dechert LLP
JOY L. LOPEZ
Head of Investment Tax and Vice President
Dimensional
DANA S. SMITH
Managing Director, Fund Administration
Charles Schwab Investment Management, Inc.
11:45 a.m.–1:30 p.m.
Lunch on your own
1:30–2:00 p.m.
Keynote Remarks | Sinatra Ballroom
MARK UYEDA
Commissioner
Securities and Exchange Commission
2:00–2:15 p.m.
Refreshment Break | Sinatra Foyer
2:15–3:00 p.m.
CONCURRENT PANELS
Session D: Fund Governance in an Era of Regulatory Deluge | Sinatra Ballroom
Regulatory developments are top of mind for many fund boards. Some proposals, if adopted, would transform the industry, while others may require greater board oversight in particular areas. This panel will address the fund director’s perspective on the wave of SEC proposals and effective approaches for boards to work with advisers in light of regulatory uncertainty.
THOMAS T. KIM, Moderator
Managing Director
Independent Directors Council
PATRICIA LOUIE
Independent Director
Oakmark Funds
KATHRYN L. QUIRK
Lead Independent Trustee
Harbor Funds
STEPHEN J. TATE
Chief Legal Officer and General Counsel
Putnam Investments
Session E: The “Alt”- imate Product: Thoughts for Sponsors Considering Interval Funds, Tender-Offer Funds, and Business Development Companies | Springs Salon G
The closed-end fund is an ideal structure to offer increased access to less liquid, non-traditional assets, while providing robust regulatory protections. This panel will explore three types of closed-end funds that have gained adviser and investor interest of late. It will discuss recent developments, challenges, and considerations for sponsors thinking about, launching, or managing such products.
KENNETH C. FANG, Moderator
Associate General Counsel
Investment Company Institute
RYAN BRIZEK
Partner
Simpson Thacher & Bartlett LLP
LUCIE ENNS
Vice President
Blackstone Inc.
TERRY GALLAGHER
Executive Vice President, Director of Mutual Fund Accounting and Administration
UMB Fund Services, Inc.
ANDREW YONGVANICH
Managing Director, Global Product
Nuveen Fund Advisors, LLC
Session F: Market Structure Reform: Implications for Investment Management | Springs Salon F
SEC Chair Gary Gensler has made equity and fixed income market structure reform a central focus during his tenure. While many of the proposed regulatory changes are intended to promote greater competition and transparency in these markets, they also may change them in fundamental ways. This panel will explore the SEC’s recent proposals and discuss their potential effects from an investment management perspective.
NHAN NGUYEN, Moderator
Assistant General Counsel
Investment Company Institute
TIM CROWLEY
Senior Vice President and Portfolio Manager
PIMCO
MEHMET KINAK
Vice President, Global Head of Systematic Trading & Market Structure
T. Rowe Price Associates, Inc.
ZACHARY J. ZWEIHORN
Partner
Davis Polk & Wardwell LLP
3:00–3:15 p.m.
Refreshment Break | Sinatra Foyer
3:15–4:15 p.m.
DEI Practices in the Asset Management Industry: Legal Considerations and Challenges | Springs Salon G
KATHY VANDERZIEL, Moderator
Senior Vice President and Senior Counsel
Capital Research and Management Company
JOSEPH ALLESSIE
Deputy General Counsel
Harris Associates
Chief Legal Officer
Oakmark Funds
STEPHEN DENNY
Head of Human Resources, Diversity & Inclusion
Putnam Investments
Tuesday, March 21
7:30 a.m.–1:15 p.m.
Conference Registration | South Counter
7:30–8:00 a.m.
Breakfast | Springs Patio
8:00–9:00 a.m.
Keynote Remarks | Sinatra Ballroom
CHRISTIE PEARCE RAMPONE
US Soccer Icon
5x Women’s World Cup Player, 2x Women’s World Cup Winner, 4x US Olympian, 3x Gold Medalist
9:00–10:00 a.m.
GENERAL SESSION
The SEC’s History: Perspectives on a Changing Regulatory Landscape | Sinatra Ballroom
This distinguished panel of former Directors of the SEC’s Division of Investment Management will reflect on SEC priorities and practices during their tenures and today. The panel will also discuss the practical implications of regulatory challenges facing the investment management industry.
SARA P. CROVITZ, Moderator
Partner
Stradley Ronon Stevens & Young, LLP
BARRY P. BARBASH
Senior Counsel
Willkie Farr & Gallagher LLP
ANDREW J. (“BUDDY”) DONOHUE
Former Chief of Staff and Director of Investment Management Division
Securities and Exchange Commission
PAUL ROYE
Former Senior Vice President
Capital Research and Management Company
10:00–10:15 a.m.
Refreshment Break | Sinatra Foyer
10:15–11:15 a.m.
GENERAL SESSION
The Topic Du Jour: Is ESG Investing Financial, Political, or Both? | Sinatra Ballroom
ESG investing has been a topic of intense debate among regulators, legislators, state attorney generals, the press, and many other commentators. The panel will explore recent developments and the issues they raise under the federal securities laws, antitrust law, and ERISA.
DOROTHY M. DONOHUE, Moderator
Deputy General Counsel, Securities Regulation
Investment Company Institute
MICHAEL P. KREPS
Principal
Groom Law Group
ROB McKENNA
Partner
Orrick, Herrington & Sutcliffe LLP
AMY D. ROY
Partner
Ropes & Gray LLP
11:15 a.m.–12:15 p.m.
Sink or Swim? Evaluating the SEC’s Liquidity, Swing Pricing, and Hard Close Proposal | Sinatra Ballroom
The SEC’s proposed liquidity, swing pricing, and hard close amendments would significantly affect open-end funds’ liquidity risk management programs; their investment portfolios, in some cases; and mutual funds’ pricing conventions and intermediary relationships. This panel will explore these potential impacts and consider where policy could be headed.
MATTHEW THORNTON, Moderator
Associate General Counsel
Investment Company Institute
MELISSA S. GAINOR
Partner
Kirkland & Ellis LLP
JASON KADAVY
Senior Vice President – Fund Administration
Voya Investment Management
ERIN KENNEDY
Senior Counsel
Dodge & Cox
LISA SHEA
Senior Vice President
Northern Trust
12:15–12:30 p.m.
Refreshment Break | Sinatra Foyer
12:30–1:15 p.m.
CONCURRENT PANELS
Session G: Addressing Compliance Challenges in Today’s Unprecedented Economic and Regulatory Environment | Sinatra Ballroom
The current economic pressures asset management firms are experiencing coupled with the unprecedented aggressive regulatory environment – from both a rulemaking and enforcement perspective – present considerable challenges to Chief Compliance Officers and compliance departments. This panel of seasoned professionals will explore these unprecedented challenges and discuss how firms are responding to them to achieve favorable outcomes.
TREVOR E. SWANBERG, Moderator
Vice President and Chief Compliance Officer
John Hancock
KATHERINE M. PRIMAS
Chief Compliance Officer
Dodge & Cox
ELIZABETH B. SCALF
Chief Compliance Officer
US Bank Global Fund Services
KRISTIN A. SNYDER
Partner
Debevoise & Plimpton LLP
Session H: Fund Industry Civil Litigation: Year in Review | Springs Salon F
The litigation landscape for the fund industry continues to evolve. This panel will review significant litigation developments and court decisions over the past year and discuss their potential impact on the fund industry.
JULIA ULSTRUP, Moderator
Senior Vice President and General Counsel
ICI Mutual Insurance Company
PAMELA M. CONOVER
Vice President and Deputy General Counsel
T. Rowe Price Associates, Inc.
MICHAEL K. ISENMAN
Partner
Goodwin Procter LLP
STEPHEN G. TOPETZES
Partner
K&L Gates LLP
Wednesday, March 22
7:30–10:30 a.m.
Conference Registration | South Counter
7:30–8:30 a.m.
Breakfast | Springs Patio
8:30–9:30 a.m.
GENERAL SESSION
Expecting the Unexpected: Looking Backward and Forward at the EXAMS and Enforcement Divisions | Sinatra Ballroom
This panel will discuss the work and priorities of the EXAMS Division and actions of the Division of Enforcement over the past year. It will also explore the aggressive posture of the SEC when it comes to overseeing registrants’ compliance efforts, including industry concerns with regulation by enforcement.
CHRISTOPHER MICHAILOFF, Moderator
Senior Counsel
TD Securities USA LLC
ANDREW DEAN
Co-Chief, Asset Management Unit
Division of Enforcement
Securities and Exchange Commission
VANESSA L. HORTON
Associate Regional Director
Division of Examinations
Securities and Exchange Commission
DABNEY O’RIORDAN
Partner
Quinn Emanuel Urquhart & Sullivan, LLP
COREY SCHUSTER
Co-Chief, Asset Management Unit
Division of Enforcement
Securities and Exchange Commission
9:30–10:30 a.m.
GENERAL SESSION
Cyber Security and Ethics: Partners or Antagonists? | Sinatra Ballroom
Robust cyber security is table stakes in today’s business world. Clients, employees, and investors expect strong information security protecting their information and investments, while regulators and legislators continue to up the ante on cyber requirements – all of which must be done within an ethical framework. Our distinguished panel of legal and ethical experts will engage in a lively discussion of how to stay cyber safe and ethically compliant in today’s dramatic cyber world.
MARTY BURNS, Moderator
Chief Information Security Officer
Investment Company Institute
MICAELA R.H. McMURROUGH
Partner
Covington & Burling LLP
KIMBERLY VARGO
Shareholder
Vedder Price P.C.
HEATHER L. ROSING
CEO and Shareholder
Klinedinst PC
10:30 a.m.