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Financial Services Industry Regulatory Compliance & Ethics Forum 2015


Speaker(s): Andrew M. Calamari, Anthony Masella, Brian L. Rubin, Carole Basri, Catherine C. Gordon, Clifford E. Kirsch, Karyn S.W. Polak, Keith M. Golden, Savaria B. Harris, Scott M. Kirwin, Steven A. Yadegari, Timothy E. Katsoulis
Recorded on: Oct. 9, 2015
PLI Program #: 57132

Keith M. Golden is a Managing Director and Associate General Counsel at Convergex Group.  In this role, Mr. Golden provides legal and regulatory coverage to Convergex’s institutional broker-dealers and other regulated and unregulated businesses.  He advises on issues relating to cash equities, listed options, ETFs, electronic and algorithmic trading, portfolio trading, alternative trading systems, commission management, clearing, market structure, and registration of broker-dealers and investment advisors.  Prior to working at Convergex, Mr. Golden was the General Counsel and Chief Compliance Officer at M. R. Beal & Company from 1999 to 2006.  He has held various other legal and compliance roles throughout his more than twenty year career in financial services.  He received a B.A. from Duke University and his J.D. from Brooklyn Law School.  He is a member of the New York and New Jersey bars.


Brian Rubin is the leader of the Washington, DC litigation department of Eversheds Sutherland (US) LLP and he is the head of the SEC, FINRA and State Securities Enforcement Team.  Brian defends companies and individuals being examined, investigated and prosecuted by the U.S. Securities and Exchange Commission, FINRA and states.  He also represents clients in litigation and arbitrations, and counsels them on regulatory and compliance matters.  Brian has been named to The Best Lawyers in America in the areas of securities law, securities litigation and securities regulation and he has been selected for inclusion in Washington, D.C., Super Lawyers® in the area of securities litigation.

Brian regularly writes and gives presentations about securities issues.  He won the Burton Award for Legal Achievement for writing, “The House That the Regulators Built: An Analysis of Whether Respondents Should Litigate Against NASD.”  In addition, he has authored numerous articles on chief compliance officer liability, including (1) #CCOsGoingViral: An Analysis of SEC and FINRA Enforcement Actions Against Compliance Officers, Written for Millennials (and those who work with Millennials); (2) “Harry Potter and the Compliance Stone: SEC and FINRA Enforcement Actions Against Compliance Officers” (using everyone’s favorite wizard as a theme); (3) “CCOs and In-House Counsel Who Got Whacked: SEC and FINRA Disciplinary Actions Against Chief Compliance Officers and In-House Counsel” (using the Sopranos as a theme), and (4) “The Girl with the SEC/FINRA Tattoo: Disciplinary Actions Taken Against Chief Compliance Officers” (using the Stieg Larsson book as a theme).

Before joining Eversheds Sutherland, Brian was Deputy Chief Counsel with the NASD’s Enforcement Department, where he managed attorneys and examiners throughout the country.  Previously, he was Senior Counsel in the SEC’s Division of Enforcement.  Brian received his J.D. and his M.A. in Economics from Duke University and his B.S. degree from the Wharton School of Business of the University of Pennsylvania.


Carole Basri is an adjunct professor at Fordham University School of Law and a visiting professor at Peking University School of Transactional Law. She helped to create the Corporate Compliance program at Fordham Law School, which includes a certificate and LLM in Corporate Compliance that launched in 2012.

Ms. Basri is a graduate of Barnard College and NYU School of Law, where she was a member of its National Moot Court Team. She then joined the Federal Government, where she was an Assistant Counsel with the United States Senate Antitrust and Monopoly Subcommittee and an attorney with the Federal Trade Commission. She later became in-house counsel with the advertising agency, NW Ayer Inc., and left to become an associate, first with Baker & McKenzie and then with Hall Dickler Lawler Kent and Friedman. Ms. Basri then became in-house counsel with Maidenform Inc. and a consultant with the Perrier Group Inc. From 1994 to 2002, she was a consultant to Deloitte & Touche LLP, where she helped to create its Ethics and Compliance practice. During this time, she also served as General Counsel of China On Line Inc.

Ms. Basri was the Senior Vice President of B3 Legal, a national legal and compliance staffing company that provides, among other things, attorneys and compliance professionals to serve as in-house counsel attorneys and Compliance Officers at financial institutions.  In addition, she has been Executive Director of the Greater NY Chapter of the Association of Corporate Counsel (ACC) for over 10 years (until September 2006).

Ms. Basri is also President of the Corporate Lawyering Group LLC, which advises on corporate compliance programs. She has created comprehensive compliance and ethics programs for major corporations, including the Dunn & Bradstreet Corporation, Cendant, Benjamin Moore & Co. and Dannon Inc. These programs were all launched within nine months and, in many cases, in multiple languages and locations. She also provides advice on law department management, document retention and corporate governance issues.

Carolina Academic Press just published two casebooks by Ms. Basri: Corporate Legal Departments and Corporate Compliance. 


Cliff Kirsch began his career at the U.S. Securities and Exchange Commission (SEC), became chief legal officer for one of the country’s largest dually- registered broker-dealer/advisers and then joined Sutherland (now Eversheds Sutherland) in 2006. He relies on his regulatory and in- house background and an up-to-date knowledge of regulatory developments to provide practical and innovative counsel to broker-dealers and investment advisers in the areas of securities regulation and compliance.

With more than 25 years of experience, Cliff regularly counsels clients on the design and distribution of investment products including wrap-fee programs and other advisory products, mutual funds, bank collective investment funds and insurance products. He also focuses on issues related to the design and implementation of compliance programs at financial services firms.

While at the SEC, Cliff received the Manuel F. Cohen Award, which recognizes younger lawyers who have displayed outstanding legal ability, integrity and judgment and he served as assistant director of the SEC's Division of Investment Management.

Cliff is a frequent speaker at industry conferences, and is the author and editor of two of the leading treatises in the broker-dealer and adviser arena: Broker-Dealer Regulation and Investment Adviser Regulation (published by the Practising Law Institute).

Cliff is also co-founder of the Julia Anne Kirsch Foundation, which seeks to serve the needs of disabled individuals and their families.

Experience

Eversheds Sutherland counsels a coalition of major life insurance companies on evolving state and federal regulations and other legal developments.

Eversheds Sutherland represents a coalition of major life insurance companies, which collectively account for more than 80% of the annuity business in the United States, in their efforts to affect the direction and details of various SEC, FINRA, CFTC, NAIC and state rule proposals and initiatives.

Eversheds Sutherland serves as outside counsel on broker-dealer and adviser regulatory issues for one of the largest independent broker-dealer networks in the country.  Eversheds Sutherland serves as regular primary outside counsel on broker-dealer and adviser regulatory issues for one of the largest independent broker-dealer networks in the country.

Eversheds Sutherland represents coalition of collective trust fund sponsors, advisers and other service providers.

Eversheds Sutherland serves as counsel to the Coalition of Collective Trust Funds. Among other things, Sutherland monitors and reports on legal and regulatory matters affecting collective trust funds.

Professional Activities

Member, New York City Bar Association

Faculty, FINRA Compliance Institute at The Wharton School of the University of Pennsylvania

Former Chair, FINRA Variable Products Committee

Former Board Member, National Society of Compliance Professionals


Savaria Harris is an experienced litigator with trials in state and federal courts as well as with government and internal investigations in the white collar context.

She is experienced in government and internal investigations, ethics and compliance training, as well as litigation and trial representation. Her practice centers on providing clients with an integrated approach to addressing fraud, anti-bribery and anti-corruption issues under the False Claims Act, Foreign Corrupt Practices Act and their equivalents.

In addition to her practice, Savaria is a frequent lecturer on workplace ethics, internal investigations and compliance. Savaria is an adjunct professor of Workplace Ethics at Georgetown University and a faculty member for the Practicing Law Institute, the American Conference Institute and The TRACE Anti-Bribery Specialist Accreditation program. She is also a member of the Advisory Council for the Association of Certified Fraud Examiners, the NYU Program on Corporate Compliance and Enforcement, and the National Employment Law Council. Finally, she is the author of an interactive video game "A Day In Your Shoes" for healthcare system clients to provide scenario-based training to physicians on the False Claims Act, Stark Act and Anti-Kickback Act laws.

CREDENTIALS

Education

Georgetown University Law Center J.D.

Yale University B.A.

Admissions

District of Columbia

New York

Languages

Spanish


Scott M. Kirwin is Vice President and Associate General Counsel in the Brokerage and Wealth Management group of the legal department of Fidelity Investments. In his current role, Mr. Kirwin serves as the Chief Legal Officer for Strategic Advisers LLC, the Fidelity registered investment adviser responsible for the money management aspects of Fidelity’s managed account, asset allocation and financial solutions products.  As part of his role, Mr. Kirwin and his team support Fidelity’s retail, workplace and intermediary managed account offerings, its digital investment advisory program, and its financial planning products and services. In addition, Mr. Kirwin provides legal support for Fidelity’s Personal Investing and Workplace Investing business units.  During his time at Fidelity, Mr. Kirwin has supported a number of Fidelity divisions and business units in various capacities, including the Global Asset Allocation Division, the Portfolio Advisory Services group, the Strategic Advisers group of mutual funds and Fidelity’s 529 educational savings vehicles.

Prior to joining Fidelity, Mr. Kirwin was an associate with Ropes & Gray LLP, where his practice focused on the representation of mutual funds and their advisers, closed-end fund offerings, private fund advisers and leveraged finance transactions.  Mr. Kirwin earned a J.D., cum laude, from Harvard Law School in 2001, where he was Executive Editor of the Harvard Human Rights Journal and an Instructor of Legal Reasoning and Argument. He received a Bachelor of Science in Political Science, summa cum laude from Northeastern University in 1998.


Tim Katsoulis is Senior Vice President and Deputy General Counsel of HSBC Bank USA, N.A., where he serves as the General Counsel of the Private Bank, which offers banking, credit, brokerage, investment management and fiduciary products and services to high net worth clients located in the United States and Latin America.

Tim is also the Head of Risk Management and Assurance for HSBC’s US Legal department, directing a group of attorneys and risk managers responsible for supporting US Legal’s role within HSBC’s Operational Risk Management Framework.

Tim joined HSBC in 2008 after holding several legal roles at Citigroup, including supporting its global internal audit division and the investment management offerings at its Smith Barney subsidiary.

Tim is a graduate of The Johns Hopkins University, The Graduate School of Political Management at The George Washington University, and Cardozo Law School.


For over a decade, Karyn Polak has provided strategic business counsel for the banking, brokerage, and asset management business lines of top-ten financial institutions, supporting C-suite executives in accelerating growth and managing risk, including by building and leading exceptional teams.  She also has over a decade of top law firm experience in corporate finance, securities, and M&A.

Karyn is Deputy General Counsel for PNC Bank, National Association, responsible for the Asset Management Group (AMG), one of PNC’s three main business lines.  She has been with PNC Legal since 2011.  Karyn’s team of 18 professionals includes lawyers and paralegals supporting AMG’s Wealth Management, Institutional Asset Management, Hawthorn multi-family office, PNC Capital Advisors, and PNC Realty Investors businesses.

Karyn came to PNC from Citigroup, Inc., where she most recently served as General Counsel for its Morgan Stanley Smith Barney joint venture.  Prior to that role, Karyn held a number of legal positions at Citi, including General Counsel and Managing Director for the Citi Private Bank; General Counsel and Managing Director for Citi Investment Research; and Managing Director for the Institutional Clients Group.  In private practice prior to Citi, Karyn was a corporate associate covering capital markets, corporate reporting, and mergers and acquisitions at Cleary Gottlieb Steen & Hamilton LLP, Rogers & Wells (now Clifford Chance), and Jones Day in New York City.

Karyn is on the Board of Directors and Governance Committee and is the Corporate Secretary of Philabundance, the region’s largest hunger relief organization.  She is also a Board member of the Economy League of Greater Philadelphia; co-chair of the The National Women’s Law Center Leadership Advisory Council; and a member of The Forum of Executive Women, the Women’s In-House Counsel Leadership Institute (WIHCL), and Impact100.  She participates in financial industry, Bar association, and women’s initiative groups to address legal issues as well as diversity, leadership, and law firm/department management matters and has spoken extensively on these topics.  Before moving to Philadelphia, she was a member of the New York City Bar’s Women in Law Committee.  In 2009-2010, Karyn completed the Coro Leadership New York program, a year-long civic engagement program for public, private, and government sector professionals.


Steven A. Yadegari is Chief Operating Officer and General Counsel of Cramer Rosenthal McGlynn, LLC, a registered investment adviser located in New York.  Mr. Yadegari also serves as Chief Legal Officer and Chief Compliance Officer for the CRM Mutual Fund Trust and is a Director of the CRM UCITS PLC.  Prior to joining CRM, Mr. Yadegari worked at K&L Gates and before that Proskauer.  Mr. Yadegari also has served as Senior Counsel in the Office of the Chief Counsel, Division of Enforcement at U.S. Securities and Exchange Commission and as an Attorney-Adviser in the Division of Market Regulation.  He is a frequent contributor to industry conferences and publications.  In 2007, Mr. Yadegari was recognized as a top twenty “Rising Star of Compliance” by Institutional Investor.  Mr. Yadegari is an adjunct professor at Benjamin N. Cardozo School of Law and teaches in the areas of dispute resolution and negotiation.  Mr. Yadegari is a Past President of the Association for Conflict Resolution of Greater New York, a not-for-profit organization, and is a Past President and former Chairman of the Old Westbury Hebrew Congregation.  Mr. Yadegari has received a BA from Brandeis University and earned his JD from the Benjamin N. Cardozo School of Law.  Mr. Yadegari has been awarded an honorary Master’s Degree from the CCO University, a division of the Regulatory Compliance Association for which he serves as an advisor and senior fellow.


Andrew M. Calamari is the Director of the Commission’s New York Regional office.  He served as Associate Director and co-head of Enforcement in New York for eight years before assuming his present position.  Before coming to the Commission in 2000, Mr. Calamari was engaged in private law practice for nearly 15 years, including as a litigation partner at Donovan Leisure Newton & Irvine.  He has co-authored a treatise on Complex Litigation and is co-author of the securities litigation chapter in a Matthew Bender treatise on securities law.


Anthony Masella is a Corporate Vice President at New York Life Insurance Company in charge of anti-money laundering compliance and privacy/information security programs.  Anthony reports directly to the Anti-Money Laundering Compliance Officer for New York Life Insurance Company, New York Life Insurance and Annuity Corporation, and NYLIFE Securities LLC.

Anthony joined New York Life in September 1996.   During his tenure with New York Life, Anthony spent the majority of his career in the Corporate Compliance Department, specifically in the following areas:  branch office compliance examinations, agent licensing and FINRA registration, market surveillance, and the handling of regulatory inquiries and examinations.  Additionally, Anthony was the internal compliance officer for the largest branch office in the Company’s agency field force.  He has been a manager in the Anti-Money Laundering Unit since 2007.

Anthony holds a bachelor’s Degree in International Business and Finance from Iona College, New Rochelle, NY. He also maintains FINRA’s Series 7, and 24 registrations. Anthony is New York Life’s co-representative on the Anti-Money Laundering Committee and the Insurer Corporate Confidentiality Task Force of the American Council of Life Insurers (ACLI).  He has memberships in the Association of Certified Anti-Money Laundering Specialists and the International Association of Privacy Professionals, and over the years has spoken at various seminars and conferences about the insurance industry’s AML/OFAC compliance efforts and privacy / information security issues.


Katy is a Director, Associate General Manager at E*Trade Financial Corporation, supporting both investment advisory and brokerage platforms and helps manage regulatory investigations.  Most recently, she served in the Chief Counsel’s Office of the Division of Investment Management at the SEC.  Katy has nearly 20 years of industry experience, having begun her career as an account officer at Waterhouse Securities, before becoming a compliance examiner in FINRA’s Enforcement, Market Regulation and Ad Review Departments.  Katy also worked for two major international law firms and served at the Municipal Securities Rulemaking Board as Assistant General Counsel.