DOL Investment Advice Rule & PTE Workshop: Breaking It Down & Implementing the PTE

The Department of Labor (DOL), under the new Biden Administration, announced in February that its PTE for investment advice fiduciaries would go into effect as scheduled. While this is a significant step toward harmonization of standards of care, to ensure successful implementation, independent financial services firms have much work to complete.

Join compliance professionals from across the industry for a two-day workshop going over the nuts and bolts of the PTE’s requirements for dual BD/IA registrants and key implementation strategies. Regulatory experts from Baker McKenzie will share how you can leverage aspects of Reg BI and Massachusetts’ fiduciary rule, while addressing the unique compliance considerations of each. You’ll also learn practical approaches to establishing a compliance structure for the PTE and discuss strategies with fellow compliance professionals.

You will leave this workshop with actionable next steps and documents designed to help you and your team confidently develop policies and procedures that meet the PTE’s requirements. Click here to download the agenda.

This program is intended for independent channel firms (FSI members and non-members).

Speakers

Jennifer Klass

Partner, Baker McKenzie

Jennifer Klass serves as the Co-chair of Baker McKenzie’s Financial Regulation and Enforcement Practice in North America. Jen is an experienced investment management lawyer with particular focus on investment adviser regulation and the convergence of investment advisory and brokerage services. She regularly represents clients before the SEC, both in seeking interpretative guidance and in managing examination and enforcement matters. Jen is a leading practitioner in digital investment advice and the use of FinTech in the asset management industry.

Jen provides practical advice that is informed by her experience as Vice President and Associate Counsel at Goldman, Sachs & Co., where she represented the asset management and private wealth management businesses. Her practice tends to focus on the retail and wealth management businesses of investment advisers and dual registrants. Her clients include the full range of asset managers, broker-dealers, and sponsors of private investment funds, mutual funds, and exchange-traded funds.

Valerie Mirko

Partner, Baker McKenzie

Valerie Mirko regularly advises broker-dealers and investment advisers regarding federal and state securities laws and regulations, including FINRA rules. She counsels clients during all aspects of broker-dealer and investment adviser regulatory examinations and enforcement investigations. Valerie is pragmatic, drawing from her in-house and public sector background, assessing regulatory and enforcement risk within the context of federal and state regulators’ policy goals.

Valerie’s practice has a long-time focus on standards of care and conflicts of interest. She counsels clients on Advisers Act obligations, Regulation Best Interest, and state brokerage and insurance standards of care regulations, as well as intersections between the broker-dealer and investment adviser regimes and the DOL ERISA fiduciary rule and relevant exemptions. Valerie has also represented SEC-registered investment advisers in examinations and enforcement matters, with a focus on conflicts of interest, advertising and marketing practices, and the custody rule.

Immediately prior to joining Baker McKenzie, Valerie was General Counsel of the North American Securities Administrators Association (NASAA). Earlier in her career, Valerie was an associate at a Washington law firm and held legal and compliance roles at Oppenheimer & Co., Inc., and Merrill Lynch (now BofA Securities).

Gavin Meyers

Associate, Baker McKenzie

Gavin Meyers is an associate in Baker McKenzie’s Miami office. Gavin is an experienced regulatory lawyer with a focus on federal and state securities laws impacting the broker-dealer and investment adviser industries. Immediately prior to joining the Baker McKenzie, Gavin was an Assistant General Counsel with Raymond James, and previously served as Senior Counsel in the Office of General Counsel at FINRA. Gavin leverages his past regulatory and in-house experiences in providing practical guidance regarding federal and state securities laws and FINRA rules, with a focus on the broker-dealer and investment adviser industries. He represents broker-dealers and other financial services clients across a variety of regulatory and enforcement matters.

Mark your calendar for our follow-up workshop – DOL Investment Advice PTE Workshop: Your Questions Answered – where Baker McKenzie’s team will answer your questions, including those that arise as your firm works toward implementation. The workshop will take place as a pre-conference event at OneVoice 2021. This workshop’s attendees will receive an advance copy of a DOL PTE FAQs document developed by Baker McKenzie and FSI.