Hot Topics in National Futures Association Audits 2014
Overview:In this two hour live webcast, The Knowledge Group organized a panel of thought leaders and professionals that will provide an in-depth discussion on the latest trends and issues with regards to the National Futures Association audits.
Some of the major topics that will be covered in this course are:
- Frequency of NFA Audits
- How to Prepare for an Audit
- Practice Tips for During and After the Audit
- Areas of Focus
- Common Deficiencies on NFA Audits
- Latest issues and trends
Deborah A. Monson, Partner
Ropes & Gray LLP
- Introductory How to Prepare for an Audit
- Practice Tips Before, During and After the Audit
- Areas of Focus
Heather Wyckoff , Counsel
Haynes and Boone LLP
- Compliance Manuals How to Prepare for an Audit (especially re: written policies and procedures manuals)
- Areas of Focus
- Common Deficiencies on NFA Audits
Robert V. Cornish, Jr., Partner
Phillips Lytle LLP
- NFA audit issues for firms that also conduct business as broker-dealers and RIAs
- How different lines of business can create issues during audits
Dorothy D. Mehta, Special Counsel
Cadwalader, Wickersham & Taft LLP
- Recent CFTC no action letters and impact on NFA audits
Who Should Attend:
- Audit Partners
- Audit Committee
- Audit & Compliance Executives from Government Contractors
- Other related/interested professionals
Deborah Monson focuses her practice on commodities law, asset management and private investment funds. Debbie has represented registered and exempt commodity pool operators and commodity trading advisors for nearly 30 years and also regularly advises mutual funds, banks, insurance companies, endowments and foundations on commodities law matters. She represents U.S. and offshore private investment funds, fund sponsors and investment advisers. She has significant experience with registration, regulation and compliance issues, as well with counseling clients on product design, fund formation, securities offerings, marketing, and negotiations and documentation with service providers and trading counterparties. This experience includes working with regulators on behalf of clients, assisting with regulatory audits, and obtaining exemptive and no-action relief. For institutional investors, Debbie concentrates on reviewing and negotiating the terms of their investments in private equity, hedge, managed futures, real estate and infrastructure products. In the past year, various publications recognized Debbie as a leading lawyer in her field, including Best Lawyers in America, which named Debbie “Lawyer of the Year” in Chicago for private funds / hedge funds law; Legal 500 US and The International Who’s Who of Private Fund Lawyers, which listed her as a top lawyer in the funds space; and The Chicago Daily Law Bulletin, which cited Debbie as one of Chicago’s “top hedge funds lawyers.”
Deborah Monson focuses her practice on commodities law, asset management and private investment funds. Debbie has represented registered and exempt …
Robert V. Cornish Jr. is a partner with Phillips Lytle LLP and focuses his practice on litigation, arbitration, regulatory and compliance matters for broker/dealers, investment advisors, hedge funds, commodity firms, institutional investors and family offices in the U.S. and abroad. He represents clients on FINRA and NFA arbitrations and court proceedings. He also represents securities and commodities registrants in connection with enforcement and disciplinary proceedings before FINRA, NFA, CFTC, SEC and state securities regulators. Having previously held positions of in-house counsel and Chief Legal & Compliance Officer with prominent investment firms, Mr. Cornish provides valuable insight and counseling for investment management clients with complex business management and marketing matters. Additionally, Mr. Cornish is a member of SIFMA Legal & Compliance Division, a certified speaker for CFA Institute Speaker’s Bureau, and an industry arbitrator for FINRA and National Futures Association. He graduated with a political science degree from Davidson College in 1989 and received his J.D. from Samford University, Cumberland School of Law in 1993.
Robert V. Cornish Jr. is a partner with Phillips Lytle LLP and focuses his practice on litigation, arbitration, regulatory and …
Dorothy D. Mehta is Special Counsel in the Firm’s Financial Services Department, concentrating her practice on alternative investment matters. Ms. Mehta has extensive experience representing investment advisers to hedge funds and managed accounts, commodity pool operators and commodity trading advisors. Her practice includes the structuring, formation and operation of a variety of alternative investments products, including U.S. and non-U.S. hedge funds, hybrid funds, funds-of-funds, and commodity pools (both privately- and publicly-offered), and the establishment of separately managed account arrangements.
Ms. Mehta also regularly advises clients on CFTC and SEC registration and related compliance requirements (including with the rules and by-laws of the National Futures Association), as well as on matters pertaining to the Dodd-Frank Act, the Commodity Exchange Act and federal securities laws generally.
Because of her work with public commodity pools, Ms. Mehta has significant exposure to securities offerings registered under the Securities Act and the issuers registered under the Exchange Act as well as dealing with the CFTC and NFA rules relating to public and private commodity pools. Ms. Mehta has also worked extensively with securities-type managers on fund structuring and SEC regulatory compliance matters. With recent Dodd-Frank amendments to the commodities laws, she has been significantly involved with private equity funds, registered investment companies and structured finance vehicles in their transition to CFTC regulation.
Ms. Mehta is a member of the Managed Fund Association’s CTA/CPO Forum and a member of the Education and Best Practices Committee of the New York Hedge Fund Roundtable.
Ms. Mehta received her J.D. in 2004 from Fordham University School of Law and an A.B. in 1999 from Cornell University.
Dorothy D. Mehta is Special Counsel in the Firm’s Financial Services Department, concentrating her practice on alternative investment matters. Ms. …
Heather Wyckoff is Counsel in the Investment Funds and Private Equity Practice Group in the New York office of Haynes and Boone, LLP. Her practice focuses on the formation and ongoing representation of domestic and offshore hedge funds, funds of funds, private equity funds, commodity pools, separate accounts/funds of one, and the managers of/advisers to such products.
Heather has particular experience relating to commodity pool operators and commodity trading advisors, and frequently advises clients with respect to CFTC and NFA rules and regulations, and other CPO/CTA operational matters, including with respect to the preparation and filing of NFA disclosure documents, compliance policies and procedures, and issues relating to financial reporting, exam proficiency requirements, marketing, and periodic audits.
Prior to joining Haynes and Boone, Heather was the general counsel of an asset management firm.
Heather Wyckoff is Counsel in the Investment Funds and Private Equity Practice Group in the New York office of Haynes and …
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About Ropes & Gray LLP
Increased regulatory oversight, the growth in hybrid and other sophisticated investment products, and new investor expectations all bring greater complexity to today’s asset management industry. At Ropes & Gray, clients find a global team of more than 1,100 professionals whose top-notch skills, varied backgrounds and unique perspectives can help them meet high-stakes challenges, solve complex problems and reach their goals. More than 140 attorneys worldwide serve clients in the asset management and investment funds industries with every issue they might face, including fund formation and ongoing operations, regulatory and compliance issues, derivatives and commodities, securities litigation, government enforcement, and tax, ERISA, and special situations matters. Many of the industry’s most respected institutions are longtime clients. We also serve clients at all stages of the business life cycle, from start-ups to established industry leaders. The firm has 11 offices worldwide and has consistently been recognized for its leading registered funds, private investment funds and hedge funds practice groups, and its practices in many other areas. For more information, please visit www.ropesgray.com.
About Phillips Lytle LLP
Phillips Lytle LLP is a premier regional law firm that is recognized nationally for its legal excellence. With offices in New York State, Washington, DC, and Canada, our attorneys serve a multinational client base including FORTUNE 1000 companies, global and regional financial institutions, not-for-profit organizations, middle market companies, startups, entrepreneurs and individuals on important matters affecting their businesses and personal wealth.
About Cadwalader, Wickersham & Taft LLP
Established in New York in 1792, Cadwalader, Wickersham & Taft LLP is a leading advisor to corporations and financial institutions, providing innovative solutions to complex legal issues. With offices in strategically located financial and governmental centers, the firm is well positioned to offer top-flight services to clients conducting business across the globe.
About Haynes and Boone LLP
Haynes and Boone, LLP is an international corporate law firm with offices in Texas, New York, California, Washington, D.C., Shanghai and Mexico City, providing a full spectrum of legal services. With more than 500 attorneys, Haynes and Boone is ranked among the largest law firms in the nation by The National Law Journal and has been named winner of a 2013 Thomas L. Sager Diversity Award by the Minority Corporate Counsel Association.