Broker-Dealer Accounting Virtual Conference

CONFERENCE AGENDA

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

Technical Accounting Update
9:00 – 10:00 AM
Now more than ever, Broker-Dealer firms must remain 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 discuss relevant active projects, including:
• Highlights of the FASB's Technical Agenda
   – Recognition and Measurement
   – Presentation and Disclosure
   – Selection of New ASUs for Public Business Entities
   – Reference Rate Reform
   – Fair Value Measurement of Equity Securities
• Fractional Share Accounting
• Troubled Debt Restructurings & Vintage Disclosures
• Fair Value Hedging
• SEC Rule 17a-5 Exemption Reports—Landscape & Guidance
• Exemption Reporting
• Other Broker-Dealer Industry Initiatives

Break
10:00 – 10:05 AM

Regulatory Trends, Industry Initiatives & Challenges
10:05 – 11:05 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's latest priorities. Topics to be discussed include:
• Recent Regulatory Guidance
   – Security-Based Swaps
• Regulatory Updates
   – T+1 Settlement Cycle
   – 4210 and Covered Agency Trades
• Risk Monitoring & Examination Observations
• FINRA FAQs
• FINRA Key Topics—Annual Reports, Books & Records, Business Continuity Planning, COVID-19,
  Cybersecurity, FinTech & Funding and Liquidity

Break
11:05 – 11:10 AM

PCAOB Update
11:10 AM – 12:10 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 Annual Report
• Inspection Results & Status
• Information Technology Controls
• Customer Reserve Computation
• Review Engagements—Audit Evidence
• Financial Statement Areas—Revenue, Related Party Transactions, Going Concern, Expenses 
  Accruals, Fair-Value Measurements, and Receivables & Payables
• Supplemental Information—Customer Protection Rule, Net Capital Rule
• Quality Control Systems

Lunch
12:10 – 12:55 PM

Accounting for & Auditing of Digital Assets
12:55 – 1:55 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:
• 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
1:55 – 2:00 PM

Comments from the CFTC   
2:00 – 2:45 PM
Regulators from the CFTC will update you on the latest hot button issues and the most effective ways to handle them.

Break
2:45 – 2:50 PM

SEC Enforcement Issues
2:50 – 3:50 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
• Digital Assets—Crypto/ICOS
• Cybersecurity

Break
3:50 – 3:55 PM

Cybersecurity & Ransomware
3:55 – 5:00 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
• Ransomware

Conference Ends
5:00 PM