Robert C. Pozen
Chairman
MFS Investment Management

Jay Hooley
Executive Vice President
State Street Corporation

Howard Putnam
former CEO
Southwest Airlines

Judith Posnikoff, PhD
Managing Director
Pacific Alternative Asset Management Company, LLC (PAAMCO)

Patricia Watters, PhD
Chief Operating Officer/Chief Compliance Officer
Pacific Alternative Asset Management Company, LLC (PAAMCO)

CNBC's Tyler Mathisen, moderating NICSA's signature panel, "Face the Membership", a panel of industry senior executives discussing the hottest issues of the day. Panelists will include:
 

Bill Bridy
President
Financial Data Services, Inc. / Merrill Lynch

Virginia Meany
President & Chief Executive Officer
JP Morgan Investor Services Co.

John Perlowski
Managing Director
Goldman, Sachs & Co.

Evelyn Dilsaver
Executive Vice President
Charles Schwab Corporation

Sue Coté
Partner
Ernst & Young LLP

9:00 –10:00 a.m.
Keynote Address: Hedge Funds Overview and Outlook
presented by NICSA’s Alternative Investments Committee
Palms North

Judith Posnikoff, PhD, Managing Director
Pacific Alternative Asset Management Company, LLC

9:00 –10:00 a.m.
Security Practices for the Ever-Changing Enterprise
Palms South

Anthony Basile
Managing Director, Chief Information Security and Privacy Officer
Merrill Lynch & Co., Inc.

George Batejan, Sr.
Vice President and Chief Information Officer
Evergreen Investments

Michael Logan, President Delivery and Operations, Founder
Axis Technology, LLC

Financial service organizations have evolved from places where employees could exchange information freely within the confines of a secure network, to expanses where employees and contractors are spread across the globe to work, access, and exchange critical information.

Learn how business leaders are keeping up with the expanding workplace by adhering to security policies and practices for the ever-changing global enterprise. Discussion will include:

• Authentication— Who is a valid user? Are users who they claim to be?
   
• Authorization— Which users can see which data? Who can make changes to that data?
   
• Encryption— Is data transported safely? Can anyone from the outside see or tamper with that transport?
   

Patricia Watters, PhD
Chief Operating Officer/Chief Compliance Officer
Pacific Alternative Asset Management Company, LLC

Noted Alternative Investments experts, Judith Posnikoff and Patricia Watters will address various issues related to the current state of the hedge fund industry including relationships with managers, the impact of the growth in institutional investors, and the regulatory and compliance environment.

10:15 –11:15 a.m.
Migrating from Mutual Funds to Hedge Funds:
Regulatory Compliance Implications
Presented by NICSA’s Alternative Investments Committee
Palms North

Barry Greenberg, Partner
Akin Gump Strauss Hauer & Feld LLP

Jahan Raissi, Partner
Shartsis Friese LLP

Jill R. Whitelaw
Vice President and Associate General Counsel
Gartmore Global Investments

Recognizing the critical need to keep investment management talent at their firm, more and more long managers are entering into the long/short space. Is this a fad or a trend?

Whether buying hedge funds or creating them, these firms face challenges by entering into the long only space that were not issues in the Act of 40 world. This session will focus on the regulatory/compliance challenges of operating in the hedge fund space.

10:15 –11:15 a.m.
Importance of Maintaining the Confidentiality of Fund Data as it Relates to Fund Administration and Custody
presented by NICSA’s Fund Administration and Custody Committee
Palms South

Michael Drobac, Director
Merrill Lynch Global Private Client

Michael C. Kardok, Senior Vice President, Fund Treasurer
IXIS Asset Management Advisors Group

Nora McDonnell, CISM, Vice President
State Street Corporation

Peter A. Rabinowitz
Financial Services Privacy Risk and Compliance Consultant
PricewaterhouseCoopers LLP

A great deal of attention has been paid to the importance of protecting shareholder information, but service providers also have access to a great deal of confidential information at the portfolio level.

This session will look at the current legal and regulatory environment and how service providers are responding to ensure confidentiality of client fund information and promote ethical behavior. Panelists will discuss:

• Current best practices
• How technology can assist

11:30 a.m. – 12:30 p.m.
Setting Up Offshore Funds: Guidance for the Uninitiated
presented by NICSA’s Alternative Investments Committee
Palms North

Howard Altman, CPA, Co-managing Principal
Principal-in-Charge of Financial Services
Rothstein Kass

Tim Clark, Partner
Dechert LLP

Cary M. Klivan, Head of HSBC Securities Services, Bermuda
The Bank of Bermuda Limited
Member, HSBC Group

This session will guide firms in the options to consider when setting up offshore hedge funds. The question becomes “where do clients feel comfortable?” The panelists will look at issues surrounding various domiciles, jurisdictions and tax implications of the offshore choice.

11:30 a.m. – 12:30 p.m.
Wealth Transfer Alert: Boomer Migration From Workplace Plans to IRA Rollovers
Palms South

Carolyn Clancy, Senior Vice President
Fidelity Investments

Jude C. Metcalfe, Chief Executive Officer
Wealth Management Systems, Inc.

Baby boomers have reached retirement age and industry analysts estimate that $1 trillion in assets will transfer to IRAs from defined contribution plans in the next ten years. This session will provide insight into how firms are preparing to capture and retain assets as this wealth transfer unfolds and how the wealth transfer process can become more efficient for TPAs and financial consultants.

9:45 – 11:15 a.m.
Regulation/Compliance Track

Chief Compliance Officer Testing, Reporting and Other Administration Under Rule 38a-1
presented by NICSA’s Compliance and Risk Management Committee
Ballroom

James E. Hillman, Consultant

Paul O'Neil, Senior Director
Boston Financial Data Services, Inc.

Michael Whitaker, Senior Vice President and Chief Compliance Officer
MFS Investment Management

As the 18-month window for funds and advisers to complete the first annual review of their policies and procedures is closing, firms are focused on completing their remaining adequacy and effectiveness evaluations, analyzing the results of these evaluations, and preparing board reports.

During this session, our panelists will present the lessons learned in conducting these evaluations and in preparing board reports, and will include discussions on:

Evaluation of service providers and sub-advisers

• Use of third-party attestations
• Consolidation of risk and control evaluation initiatives
• Board reporting considerations
• Technology solutions

9:45 – 11:15 a.m.
Product/Distribution Track

Around the World in Eighty Ways – A Look at Global Issues in the Industry
Palms South

Rob Bagdasarian, Vice President,
Product and Technology Solutions
State Street

Robert Hoffman, Directeur Général
L'Association Luxembourgeoise des Fonds d'Investissement (ALFI)

Anthony Previte
Vice President, International Investments
Prudential International Investments

The worldwide fund industry is quickly growing and developing. Assets in non-U.S. domiciled funds are approaching the value of the U.S. fund industry.

Our expert panel, including representatives from Europe, Asia and the U.S., will provide an overview and update on the developments, issues and opportunities in the global investment funds industry.

9:45 – 11:15 a.m.
Innovation Track

Re-engineering Retirement Plans
presented by NICSA’s Retirement Committee
Palms North

Carol Gransee, Assistant Vice President and Compliance Officer
OppenheimerFunds Services

Carolyn Richardson
Director of Business Development
RolloverSystems, Inc.

Derek L. Winegard, Senior Sales Director
DST Systems, Inc.

The complexity of encouraging Americans to save while balancing both business and legislative requirements in a constantly changing environment presents ongoing challenges. This panel will tackle those challenges as they examine retirement plan issues including the way firms offer and service plans and how the business is managed. Discussion will include:

• Changes to and impacts of legislation
• Retirement savings plan education
• Business and operations issues
• Forecast for the future

12:30 – 5:30 p.m.
NICSA Golf Tournament
Blue Monster, Gold & Red Courses

Boxed Lunch Sponsored by

Bottled Water Sponsored by

See details.

12:00 noon – 1:00 p.m.
Lunch (non-golfers)
Lobby Lounge

12:30 – 5:15 p.m.
NICSA Duck Tour of Miami
 
Participants meet at the Doral Resort lobby entrance at 12:15 p.m. Bus will leave at 12:30 and return around 5:15 p.m. Pre-registration is required and space is limited. See details.

9:45 –10:45 a.m.
Regulation/Compliance Track

Omnibus Transparency
presented by NICSA’s Transfer Agent Committee
Ballroom

Debbie Lima, Senior Vice President
American Funds Service Company

Charles H. (Chip) Miller
Executive Vice President and Managing Director of Professional Services
Access Data Corp.

Fred Potts, Senior Vice President, Asset Management Client Services
Charles Schwab & Co., Inc.

This panel will explore the operational, technology and compliance implications surrounding the evolving pressures for increased transparency of shareholder activity underlying omnibus positions. As industry trends and regulatory changes (Rule 22c-2) continue to expand fund company access to detailed omnibus information, what practices and tools can be considered in effectively managing the new flow of data and its related regulatory compliance implications. Discussion will include:

• Whether funds’ being given the right to access underlying account detail implies that they have an obligation to monitor all of the related activity;
   
• What frequency and level of detail is appropriate and does it vary by distribution channel;
   
• How are the various entities (Fund, Brokers, Trusts, TPA’s) preparing to manage the new requirements of 22c-2;
   
• What type of data standards exist, are emerging, or are still missing.
   

9:45 –10:45 a.m.
Product/Distribution Track

Striking the Right Balance:
Evolving Distribution Strategies in Today's Regulatory Environment
presented by NICSA’s Distribution Channels Committee
Palms South

Karen Becker, Senior Vice President,
Chief Compliance Officer
Calvert Funds

Phil Graham, Senior Vice President, Director of Relationship Management
Evergreen Investments

David C. Martin, CLU, ChFC
Senior Compliance Officer
Phoenix Investments

Senior sales and compliance executives will discuss their ever-evolving distribution strategies that balance the need for day-to-day compliance requirements with the goal to increase the firm’s overall assets. In a lively question and answer format, the panel will identify practices that extend beyond the traditional wholesaling models. Join us to learn:

• How to manage training, entertainment and gift limits within your organization. How to best track wholesaler expenditures and manage reporting needs to outside parties.
   
• How to bring technology from the home office to the field and to your clients. Is the self-service marketing model for brokers as effective as face-to-face? How using the web has supported sales and helped compliance.
   
• How investment managers gather assets through the insurance and mutual fund channels and the different compliance requirements necessary when promoting these products.
   

9:45 –10:45 a.m.
Innovation Track

Everything You Wanted to Know
About Exchange Traded Funds
But Were Afraid to Ask
Palms North

Noel Archard, CFA
Principal, Vanguard VIPERs
The Vanguard Group, Inc.

Tom Carter
Managing Director of Sales and Finance
ALPS Mutual Fund Services, Inc.

Jim Ross, Principal
State Street Global Advisors

Our roundtable of industry experts will bring you up to speed on Exchange Traded Funds (ETFs), today’s fast growing product offering exposure to an ever-expanding range of benchmarks and asset classes. Join us to learn everything you ever wanted to know about ETFs including:

• What elements differentiate ETFs from traditional mutual funds, including how their structure contributes to lower costs and higher tax-efficiency;
   
• What are the issues associated with the launch of ETFs, including distribution, legal and regulatory concerns, and the importance of innovation in this rapidly evolving market;
   
• Where are ETFs headed next, including the potential for actively managed funds and new asset classes not yet offered?
   

11:30 a.m. – 12:30 p.m.
Regulation/Compliance Track

Regulatory Developments and Tax Consequences
presented by NICSA’s Tax & Accounting Committee
Ballroom

Gwen L. Shaneyfelt, Director, Fund Tax
Franklin Resources, Inc.

Michael Spiryda, Senior Tax Manager
PricewaterhouseCoopers LLP

The panel will address current Tax and Accounting issues affecting the asset management industry, as well as look at what 2006 will hold in store. Specific discussion will include:

• Continuity of business regulations for fund mergers
• Voluntary compliance initiative for information reporting
• Disguised sales of partnership interests guidance and effects on master feeder funds
• Qualified interest paid to Non-U.S. shareholders
• IRS notice on residual interests held by mutual funds
• Update for foreign qualified dividend income
• FIRPTA update

11:30 a.m. – 12:30 p.m.
Product/Distribution Track

Buy American! Gaining Direct Access to the U.S. Mutual Fund Market
presented by NICSA's Distribution Channels Committee
Palms South

Brian Fabbri, Chief Economist North America
BNP Paribas

Steve Ganis, Vice President, Anti-Money Laundering Officer, U.S. Sanctions Officer
Fidelity Investments

David Richardson, Managing Director, Investment Management Tax
PricewaterhouseCoopers LLP

How will the pending tax law change (HR 4250: Allowing foreign institutions to invest directly into U.S. domiciled mutual funds without double-taxation) affect the way investment companies market funds? Will the weak U.S. dollar continue to impede efforts to gain foreign investors' dollars? Will institutional investors eventually prefer domestic funds over their sister offshore counterparts and might this cause investment companies to consolidate?

Our panel of industry experts will answer these questions and more, including AML and Patriot Act due diligence requirements and how service providers can facilitate these requirements.

11:30 a.m. – 12:30 p.m.
Innovation Track

A Comparison and Contrast of Investment Vehicle Structures
Palms North

Jim Ruane, Tax Partner
Deloitte Tax LLP

John Shields, Director
Navigant Consulting, Inc.

This panel of experts will offer an overview of the tax, legal and regulatory differences among selected investment vehicles and a discussion of how and why various vehicles are being used in response to market dynamics. They will address:

• Mutual funds and closed-end funds
• Registered hedge funds
• Hedge funds
• Collective funds
• Commodity pools
• SMAs

1:30 – 2:30 p.m.
Regulation/Compliance Track

NSCC Initiatives
Ballroom

Barbara Simon, Vice President
Depository Trust & Clearing Corporation

Fund groups are working closely with the Depository Trust & Clearing Corporation (DTCC) and their NSCC service to deliver enhanced monitoring and information sharing support in response to industry directives and government mandates.

This session will provide a high-level overview of the changes being enacted and the implications for fund groups and their service providers. Barbara will review the purpose, expected timeline and impact of updates being made to DTCC product offerings.

1:30 – 2:30 p.m.
Product/Distribution Track

Mobile Device Showcase
Palms South

Ed Buffone, Director, Palm Enterprise Solutions
Palm

Adam Kornak, Enterprise Mobility Specialist
Microsoft

Patrick McElrea, Marketing Manager, ISV Alliances
Research in Motion (RIM)

Companies are starting to pour more money into wireless technologies in 2006 because of the success of their initial deployments. But, what technologies should you invest in to get the most value for your buck? Jupiter Research reports that the number of PDA users in the United States reached just more than 14 million in 2003 and will grow to 20 million by 2008. Mobile phone use in the U.S. is expected to reach 160 million users by the end of next year. Can all this wireless technology help the financial industry?

This showcase will focus on several wireless solutions that could help your firm in both the front and back office.

1:30 – 2:30 p.m.
Innovation Track

The Cost of Quality:
How Are Leading Companies Adjusting Their Operations to Cope with Expenses and Industry Changes?
Palms North

David Driskill, Partner
National Quality Review

Using the results from the 2005 NQR/NICSA Financial Services Industry Study, NQR will discuss transfer agent industry practices in all aspects of Operations, Customer Service, E-Commerce, Expense Ratios, and Quality Management.

The presentation will include an overview of industry trends in productivity measures, expense ratios, service quality standards, organizational structure, staffing, training, and technology usage. It will focus on how top-performing companies differentiate themselves from the industry norm.

Attendees will walk away with useful data to benchmark their own operations, institute best practices, and make strategic planning decisions.

3:00 – 4:00 p.m.
Old World & New World Burgundy Wine Tasting
Spa Grand Terrace
Pre-registration required. See details below.

Sponsored by

Moderator:

C. Tyler Mathisen,
Managing Editor, CNBC Business News and Host of High Net Worth
CNBC

Jim Lockhead, Co-Chair
Boston Financial Data Services

Roger Hobby, Co-Chair
Fidelity Investments

Bill Greilich, Exhibits Chair
PFPC

 
Annual Conference Committee
 

Larry Fleischman
Venture Financial Systems Group, Ltd.

Rick Garner
Franklin Templeton Investor Services

John Hiyakawa
DST Systems, Inc.

Faye Howard
Evergreen Investments

Paul Kraft
Deloitte & Touche LLP

Michel Lentz

Barbara Mack
SunGard Investar*ONE

Donna McManus
The Bank of New York

Michael Melles
SunGard Investar*ONE

Greg Niland
American Funds/Capital Group

Peter Poulin
IBM Business Consulting Services

Anthony Previte
Prudential Investments

Paul Roselli
JP Morgan Chase

Marcia Rothschild
BNP Paribas

Chris Willis
Pyxis Mobile

Rheeta Wise
MFS Investment Management