Broker-Dealer Accounting Virtual Conference

CONFERENCE AGENDA

Welcome & Opening Remarks
8:45 – 9:00 AM

Technical Accounting Update
9:00 – 10:00 AM
More than ever, Broker-Dealer firms must be aware of the latest changes to technical accounting. Many new standards became effective for year-end Public Business Entities. This session will catch you up on everything you need to know, as well as relevant active projects, including:
• New Standards for Public Business Entities
• Reference Rate Reform
• Equity Securities, Equity Method & Derivatives
• Simplifying Accounting for Income Taxes
• Accounting Standards Updates (ASUs)
   – Franchisors
   – Intangibles
   – Leases
   – Financial Statement Presentations
   – Stock Compensation
   – Business Combinations
   – Highlights on the Technical Agenda

Break
10:00 – 10:05 AM

Regulatory Trends, Industry Initiatives & Challenges
10:05 – 11:20 AM
Broker-Dealer firms continue to be challenged by regulatory, accounting and auditing issues. This session will provide insights into the changes and evolution of the market, as well as FINRA priorities, and new regulatory guidance. Topics to be discussed include:
• Recent Regulatory Guidance
   – Redesigned eFOCUS System and SEC Swap Reporting Requirements
   – SEC's filing extension for smaller Broker-Dealers
   – Custody of digital asset securities
   – ATS role in the settlement of digital asset security trades
   – Remaining impact of COVID relief programs
   – Exemption reporting
   – Non-covered firms (Footnote 74)
• Risk Monitoring & Examination Observations
• Questions in Regards to FINRA
• Key Topics

Break
11:20 – 11:25 AM

PCAOB Update
11:25 AM – 12:25 PM
This session will focus on updates to the Inspection Program as they relate to Broker-Dealer firms, including significant changes in terms of international outreach and staffing. We'll look at:
• The Recent 4020T Report
• Recent Inspection Reports
• Current Inspections Status
• Illustrative Examples
  – Exemption Reports (AT No. 2)
  – Revenue procedures

Lunch
12:25 – 1:10 PM

Internal Controls
1:10 – 2:10 PM
• Control Environment Considerations in Current Working Environment
   – Risk assessment impact
   – Effective allocation of resources
   – Remote access
   – Execution of controls and monitoring
• Internal Control Over Compliance (ICOC)/Risk Assessment & Relevant Control Considerations
   – Broker-Dealer reporting requirements
   – Examination procedures and requirements
   – Scope considerations
• Management Review Controls (MRCs)
• Information Used in a Control (IUC)
   – Elements of IUC
   – Management expectations

Break
2:10 – 2:15 PM

Comments from the CFTC   
2:15 – 3:00 PM
Regulators from the CFTC will update you on the latest hot button issues and the most effective ways to handle them.

Break
3:00 – 3:05 PM

SEC Enforcement Issues
3:05 – 4:05 PM
With the hiring of a new Chairman, the SEC has undergone significant changes, taking a more aggressive stance on enforcement issues. Using recent examples, this session will give you a solid understanding of how these changes are expected to impact Broker-Dealer firms, with a look at:
• Transitioning to New Leadership
• Working with Law Enforcement & SROs
• Recent Cases of Interest & Their Impact
• Areas of Focus
• Crypto Assets

Break
4:05 – 4:10 PM

Managing Cyber Risks
4:10 – 5:15 PM
Cyber threats are on the rise, and the importance of understanding and identifying them--as well as implementing effective security and management measures--will be the focus of this session. Specifically, we will cover:
• The Threat Environment
• Current Top Cyber Risk Management Trends
• Balancing Compliance & Security
• Challenges to Managing Risk
• Assessing Cyber Risk Management Program Maturity

Conference Ends
5:15 PM