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:
• Overview of the 4020T Report
  – Changes in presentation
  – Financial statement audit areas
• Inspection Results & Status
• Good Practices
  – Revenue

Lunch
12:25 – 1:10 PM

Accounting for & Auditing of Digital Assets
1:10 – 2:10 PM
The FASB has yet to release an accounting standard dealing with digital assets. As a consequence, financial professionals are struggling to understand the accounting and auditing issues related to important new technologies such as cryptography and blockchain, much less prepare for the challenges inherent in them. In this session, an expert will address:
• Classifying Crypto Asset Purchases
• Digital Assets as Indefinite-Lived Intangible Assets
• Third Party Services
• Recognizing Broker-Dealer-Specific Digital Assets
• Fair Value Measurement
• Risk Assessment, Processes & Controls
• Laws & Regulations

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

Cybersecurity & Ransomware
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