Broker-Dealer Accounting Virtual Conference

CONFERENCE AGENDA

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

Broker-Dealer Industry Perspective
9:00 – 9:30 AM
This session will highlight all of the latest challenges and opportunities in the Broker-Dealer industry and what to expect in the future from the perspective of financial professionals. A highly qualified expert will demonstrate how accountants can safely and efficiently keep up with changing regulatory compliance requirements, new accounting pronouncements, digital transformation and other potential risks.

Break
9:30 – 9:35 AM

SEC Enforcement Issues
9:35 – 10:35 AM
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:
• Overall Trends in Enforcement Actions
• The Whistleblower Program
• SEC Exam Priorities
• PCAOB Trends
• Recent Auditing & Accounting Related Activities
• Electronic Communications
• Digital Asset Securities
• Cybersecurity Regulations
• Regulation Best Interest/Form CRS
• Unregistered Dealers

Break
10:35 – 10:40 AM

PCAOB Update
10:40 – 11:40 AM
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 Annual Report
• Inspection Results & Status
• Information Technology Controls
• Customer Reserve Computation
• Review Engagements—Audit Evidence
• Financial Statement Areas—Revenue, Evaluating Audit Results, Related Party Transactions,
  Expenses & Accruals, Securities Owned & Sold, Receivables & Payables, Post-audit Matters
• Supplemental Information—Customer Protection Rule, Net Capital Rule
• Quality Control Systems

Break
11:40 – 11:45 AM

Comments from the CFTC   
11:45 AM – 12:30 PM
Regulators from the CFTC will update you on the latest hot button issues and the most effective ways to handle them.

Lunch
12:30 – 1:15 PM

Regulatory Trends, Industry Initiatives & Challenges
1:15 – 2:15 PM
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's latest priorities. Topics to be discussed include:
• Recent Regulatory Guidance
   – SEC electronic filing proposal
   – Exemption reporting
• Regulatory Updates
   – T+1 Settlement Cycle
   – 4210 and Covered Agency Trades
• Risk Monitoring & Examination Observations
• FINRA FAQs
• FINRA Key Topics—Annual Reports, Books and Records, Business Continuity Planning, 
  Cybersecurity, FinTech, & Funding and Liquidity, Examination & Risk Monitoring, Margin Regulation

Break
2:15 – 2:20 PM

Technical Accounting Update
2:20 – 3:20 PM
Now more than ever, Broker-Dealer firms must remain aware of the latest changes to technical accounting. Many new standards have become effective for year-end entities. This session will catch you up on everything you need to know, as well as discuss relevant active projects, including:
• Improvements to Reportable Segment Disclosures
• Accounting for and Disclosure of Crypto Assets
• Improvements to Income Tax Disclosures
• Scope Application of Profits Interest Awards
• Current FASB Projects
• Accounting for Environmental Credits & Obligations
• Software Costs

Break
3:20 – 3:25 PM

Accounting for Digital Assets
3:25 – 4:25 PM
The FASB has released new accounting guidelines dealing with digital assets known as Fair Value Accounting. As a result, financial professionals are quickly playing catchup to understand the accounting and auditing issues related to important new technologies such as cryptography and blockchain. In this session, an expert will address:
• Fundamentals of Distributed Ledger Technology
• Types of Crypto Asset Transactions
• Accounting & Auditing Considerations on Certain Crypto Assets
  – Investment in Cryptocurrencies
  – Receipt of Cryptocurrencies in Exchange for Goods or Services—ASC606, ASC610, ASC845
  – NFTs
• Staff Accounting Bulletin No. 121 ("SAB 121")

Break
4:25 – 4:30 PM

Digital Transformation
4:30 – 5:15 PM
With the Broker-Dealer industry undergoing significant changes over the past several years, it has become essential for broker-dealers to prioritize integrating technological innovations including digitalization. Specifically, we will cover:
• Broker-Dealer Business Trends
• Key Technologies Reshaping Business
• Evolution of Enterprise Architecture
• Investing in AI & GenAI
• Implications of Platform Economics
• Emerging Trends to Watch
  – Quantum
  – DeFi
  – Digital Twins

Closing Remarks
5:15 – 5:20 PM

Conference Ends
5:20 PM