Broker-Dealer Accounting Virtual Conference

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Broker-Dealer Accounting Virtual Conference

CPE Credit: 8 Hours

Price: $499.00

NASBA Field of Study: Accounting



This is the one Virtual Conference where you'll hear directly from FINRA, CFTC and PCAOB regulators on their latest initiatives and key priorities. Discover how these decisions may influence your company’s practices and bottom line, get critical updates on regulatory, accounting and auditing issues, and keep up with recent developments, such as the use of cryptoassets, and the ongoing impact of COVID-19.

Through our comprehensive agenda and immersive online platform, you’ll gain expert guidance and real-world strategies from current and former regulators, Big 4 leaders and other industry specialists on implementing the latest accounting standards, dealing with regulators, mitigating risks, and more.


•  State of the Brokerage Industry

•  The Impact of COVID-19

•  Regulatory Trends, Industry Initiatives & Challenges

•  Technical Accounting Update

•  SEC Standard of Conduct Rulemakings: Regulation Best Interest & Form CRS

•  Internal Controls—Hot Topics

•  Comments from the CFTC

•  Auditing Standards Update


LEARNING OBJECTIVE  To update financial professionals working for broker-dealers on the latest rules and regulations from the SEC,
PCAOB and FASB, and show them the best ways to handle these rules.

DELIVERY METHOD  Group Internet-Based.


This Conference is also avaliable as a Self-Study Program
Broker Dealer Accounting Conference Self-Study (11 Hours)



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

State of the Brokerage Industry
 – 9:45 AM
This session will provide an overview of the broker-dealer landscape, deliver an update on regulatory initiatives, cover the impact of regulations on capital formation, present related innovations, and offer a glimpse into the future of the broker-dealer industry. Topics to be discussed include:
Key Regulators of the Securities Industry
Self-Regulatory Organizations (SROs)
Equity Market Structure
Current Issues in Trading Equities
   – The maker-taker model
   – Access fees
   – Market data fees
   – Fragmentation
Current Proposals to Address Issues in Equity Trading
   – Transaction Fee Pilot Program
   – Market data fees
Bond Market Structure
   – Issues in bond markets
SIFMA Capital Committee Focus
SIFMA Actions to Address COVID-19

9:45 – 9:50 AM

Regulatory Trends, Industry Initiatives & Challenges
 – 11:05 AM
Broker-dealer firms continue to be challenged by regulatory, accounting and auditing issues. This session will focus on the challenges faced by the broker-dealer industry and provide insights into the changes and evolution of the market, as well as supply an overview of FINRA priorities. Topics to be discussed include:
Recent Guidance: COVID-19 Related FinOp Issues
Other Recent Regulatory Guidance
   – Regulatory Notice 19-11 – Underwriting Backstop Agreement Net Capital Treatment
   – SEC No-Action Letter: Treatment of Operating Leases under Rule 15c3-1
   – Regulatory 19-08 – Guidance on FOCUS Reporting for Operating Leases
   – Amendments to the Broker-Dealer Financial Reporting Rule
FINRA Risk Monitoring and Examinations
FINRA Key Topic Pages

11:05 – 11:10 AM

Technical Accounting Update
11:10 AM – 12:10 PM
• Accounting for leases
• Current Expected Credit Losses (CECL)
• Revenue Recognition—year 2 considerations
• Adoption Reminders: Statement of Cash Flows and Restricted Cash

12:10 – 12:55 PM

SEC Standard of Conduct Rulemakings: Regulation Best Interest & Form CRS
12:55 – 1:55 PM
   – Regulation Best Interest (Reg BI)
   – Form CRS
Retail Customers and Retail Investors
   – Definitions
   – Legal representatives
   – Identifying retail customers and retail investors
   – Definition
   – Types
Compliance with Reg BI
   – Care obligation
   – Requirements
   – Recommendation of account types and rollovers
   – Retail customer investment profile
   – Determining and documenting “Reasonable Basis”
   – Significant investments/complex and risky products
   – Disclosure
   – Conflict of Interest Obligation
   – Compliance Obligation
Form CRS
   – Who must receive Form CRS?
   – Delivery and filing requirements
Books and Records Requirement

1:55 – 2:00 PM

Internal Controls—Hot Topics
2:00 – 2:45 PM
   – 17a-5 Compliance Report
   – Financial Responsibility Rules (FFRs)
   – Internal Control Over Compliance (ICOC)
Regulatory Findings and Themes
   – Management review controls
   – Information produced by the entity
   – Third party service organizations
Impact of COVID-19
   – Regulatory relief and oversight
   – Control challenges faced with working from home
Enhancement Opportunities
   – Governance Structure
   – Scope and mix of controls

2:45 – 2:50 PM

Comments from the CFTC   
2:50 – 3:50 PM
Regulators from the CFTC will update you on the latest hot button issues and the most effective ways to handle them.

3:50 – 3:55 PM

Auditing Standards Update
3:55 – 4:55 PM
Auditing accounting estimates
Testing the company’s process
Developing an independent expectation
Evaluating transactions after the measurement date
Risks of material misstatement related to fair value of financial instruments
Third-party pricing information
Using the work of an auditor-engaged specialist

Conference Ends
4:55 PM



Sarah Kenny, Director, National Professional Services Group, PwC, is an expert in valuation and fair value estimates, as well as a thought leader in standard-setting activities.

Tim Vintzel, Audit Partner, Banking and Securities Group, Deloitte & Touche LLP, is a Chartered Financial Analyst who specializes in audits of large, multinational clients, and technical securities industry matters.


Wes Althoff, Senior Associate and Assistant General Counsel, SIFMA

Ann Cheeseman, Partner, Financial Accounting and Advisory Services (FAAS), Ernst & Young LLP

John Clemente, Director, Risk and Regulatory - Financial Services Advisory, PwC

Nicholas DiLorenzo, Associate, Financial Services Group, Dechert LLP

Thomas Favia, Managing Director, Regulatory Reporting, Goldman Sachs

Janet Fischenich, Senior Manager, Assurance Financial Services, Ernst & Young LLP

Susan Grafton, Partner, Dechert LLP

Rachel Grandovic, Senior Manager, Accounting and Reporting Advisory, Deloitte

John Iacobellis, Assurance Partner, BDO

Kathryn Mahoney, Senior Director, Financial & Operational Risk Policy, FINRA

Nicole Nistorescu, Audit Senior Manager, BDO

Gerald Nudge, Associate Director, Branch Chief – Eastern Region, CFTC

Laura S. Pruitt, Partner in Financial Markets, Jones Day

Joe Thomas, Senior Manager, Financial Accounting Advisory Services, Ernst & Young LLP

Anthony Vinci, Director, Financial and Operational Risk Policy, FINRA

Mike Walters, Associate Director, PCAOB


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