SEC / DFI / NASAA Joint Public Roundtable

The Securities and Exchange Commission (SEC), the North American Securities Administrators Association (NASAA), and the Wisconsin Department of Financial Institutions (DFI) are holding a joint public roundtable at the DFI Headquarters on Tuesday, July 25 beginning at 11 a.m. ET (10 a.m. CT). Chair Gary Gensler will give pre-recorded remarks, and Commissioner Mark Uyeda will be in attendance. A portion of the event will be webcast on SEC.gov from 2-4:15 p.m. ET.

The event will consist of a few key sessions:

• Investor roundtable focused on retail investor issues, where investors will engage in a moderated discussion with the Investor Advocate and the WI DFI Securities Administrator
• Public roundtable webcast and investor case studies, where retail investors, investigators, and regulators will share experiences of securities frauds, and engage in discussions related to identifying frauds and avoiding suspicious investments
• Securities Investor Protection Corporation (SIPC) and Canadian Investor Protection Fund (CIPF)-moderated discussion on investor protection during periods of firm insolvency
• Stakeholder discussion with the SEC’s Retail Strategy Task Force on retail investor frauds, deceptive practices, and what the future of investor protection looks like

AGENDA

• [+] 10:00-10:10 a.m. CT | Welcome Remarks

  • Leslie Van Buskirk, Administrator, WI DFI Division of Securities
  • Cristina Martin Firvida, Investor Advocate, SEC
  • Andrew Hartnett, NASAA President; and Deputy Commissioner, Iowa Insurance Department

• [+] 10:10-11:30 a.m. CT | Investor Roundtable

  Moderated Discussions with Investor Advocate and Wisconsin DFI Administrator.

  • Focused on Retail Investors
  • Opportunity to hear directly from investors
  • Listen to presentations from investors and advocates/regulators on issues affecting retail investors

  Stage-Setting and Reflections on Retail Investors in Nebraska

  • Claire McHenry, NASAA President-Elect; and Deputy Director, Securities Bureau, Nebraska Department of Banking and Finance

  Retail Investor Stories

  • Four retail investors will speak about their experiences with investing products, decisions, and services.
  • Reflections on Retail Investors in Iowa
    Andrew Hartnett, NASAA President and Deputy Commissioner, Iowa Insurance Department
  • Presentation on Variable Annuity Frauds
    Lauren Van Buren, Chief Counsel, Wisconsin Office of the Commissioner of Insururance

• [+] 12:00-12:45 p.m. CT | Lunch, Elder Justice Coalition, and Informal Discussions

  Informal lunch and discussion with SEC, Wisconsin DFI, and NASAA Staff.

  
  Presentation and Discussion regarding the Wisconsin Elder Justice Coalition

  • Doreen Goettsch, Greater Wisconsin Agency on Aging Resources
     
  • The Honorable Mark T. Uyeda, Commissioner, SEC
  • Cristina Martin Firvida, Investor Advocate, SEC
  • Daniel Gregus, Director, Chicago Regional Office, SEC
  • Leslie Van Buskirk, Administrator, WI DFI Division of Securities
  • Cheryll Olson-Collins, Secretary-Designee, WI DFI
  • Patti Epstein, Deputy Secretary, DFI
  • Deborah Fabritz, Director, Bureau of Professional Registration & Compliance, Division of Securities, WI DFI
  • Robin Jacobs,  Attorney Supervisor, Bureau of Enforcement, Division of Securities, WI DFI
  • Andrew Hartnett, NASAA President; and Deputy Commissioner, Iowa Insurance Department
  • Claire McHenry, NASAA President-Elect; and Deputy Director, Securities Bureau, Nebraska Department of Banking and Finance
  • Hemant Sharma, Deputy General Counsel, Securities Investor Protection Corporation
  • Brian Hellmer, Assistant Secretary, Investor Advisory Committee, SEC
  • Adam Anicich, Special Advisor and Investor Engagement Manager, SEC

• [+] 1:00-2:30 p.m. CT | Joint Public Roundtable Webcast and Investor Case Studies
  (webcast on sec.gov)

  Public Roundtable with presentations and case studies from retail investors, investigators, and regulators on topics related to retail investor issues.

  • Opening Remarks
    • Leslie Van Buskirk, Administrator, WI DFI Division of Securities
    • Cristina Martin Firvida, Investor Advocate, SEC
    • Andrew Hartnett, NASAA President and Deputy Commissioner, Iowa Insurance Department
  • Welcome Remarks
    • The Honorable Gary Gensler, Chair, SEC
    • The Honorable Mark T. Uyeda, Commissioner, SEC
  • Wisconsin DFI Investigators - Recent Case Examples
    • Robin Jacobs, Enforcement Director, WI DFI
      • Overview of Case Studies and Introductions by Investigators
      • Each Investigator will introduce their Investor, and share a preview of the case
      • Six (6) different investors will share their stories and speak about their experiences with securities fraud - firsthand
      • DFI Examiner Case Studies

• [+] 2:30-2:40 p.m. CT | Investor.gov / NASAA.org Investor Resources
  (webcast on sec.gov)

  SEC and NASAA will provide an overview of the resources available for investors on Investor.gov and NASAA.org.

  • Lori Schock, Director, Office of Investor Education and Advocacy
  • Claire McHenry, NASAA President-Elect; and Deputy Director, Securities Bureau, Nebraska Department of Banking and Finance

• [+] 2:40-3:00 p.m. CT | SIPC / CIPF Discussion on Investor Protection
  (webcast on sec.gov)

  In this moderated fireside chat, the audience will hear from representatives from the Securities Investor Protection Corporation (SIPC) and the Canadian Investor Protection Fund (CIPF) on issues related to the protection of investors during periods of firm insolvency, especially in the wake of high-profile bank failures.

  • Hemant Sharma, Deputy General Counsel, Securities Investor Protection Corporation
  • Ilana Singer, Vice President and Corporate Secretary, Canadian Investor Protection Fund

• [+] 3:00-3:15 p.m. CT | Closing Remarks – Wisconsin DFI and SEC Investor Advocate
  (webcast on sec.gov)

  • Leslie Van Buskirk, Administrator, WI DFI Division of Securities
  • Cristina Martin Firvida, Investor Advocate, SEC
  • Andrew Hartnett, NASAA President; and Deputy Commissioner, Iowa Insurance Department

• [+] 3:15-4:45 p.m. CT | Retail Investor Case Studies – SEC and Wisconsin, Iowa, and Nebraska Securities Staff and NASAA

  Discussion with stakeholders that focus on specific retail investor issues. The SEC’s Retail Strategy Task Force’s Chief Hane Kim will join the discussion.

  • Wisconsin DFI Investigators and Law Enforcement
  • IA Practices
  • Retail Investor Fraud
  • Targeted discussion on what the future of investor protection and prosperity looks like.

Location
Wisconsin Department of Financial Institutions Headquarters
Hill Farms State Office Building
4822 Madison Yards Way, Madison, WI 53705

Registration for In-Person Attendance
Wisconsin DFI Registration

This event will be webcast on SEC.gov from 2-4:15 p.m. ET.