Now that you’ve seen what ACA Insight has to offer, don’t be without it. Subscribe now!

The weekly news source for investment management legal and compliance professionals

Current subscribers - please log in to the website in the upper right-hand corner

News October 18, 2004 Issue

Noted in N'Awlins

Here are odds and ends of interesting things IM Insight heard at the NRS conference last week in New Orleans:

  • "No employee ever outgrows the need for supervision." (Dechert counsel Elizabeth Knoblock)
  • "Given the payout and the risks, why would any intelligent person want to be a compliance officer?" (conference attendee)
  • "Itís always a good idea to cooperate with SEC examiners." (OCIE general counsel John Walsh)
  • "The preparation for that exam was like nothing Iíve seen in my professional career" (LPL Financial Services V.P. of compliance, Michelle Jacko, referring to an intense, recent SEC exam at a former employer).
  • "I have socks older than some of these examiners." (compliance officer who will remain nameless).
  • "I wonít put anything in e-mails about e-mails." (same person)
  • "I donít see anything in the rule that says you have to be able to do a keyword search." (OCIE associate director Gene Gohlke, discussing e-mail retention requirements)
  • (Kenneth Wagner, director of compliance at J.J.B. Hilliard/W.L. Lyons, responding to a question from an attendee about whether e-mailed customer complaints have to be kept if they donít get past the firmís spam filter:) "Thatís a heck of a filter if it can filter out customer complaints!"

And lastly . . .

  • "What goes on in New Orleans, stays in News Orleans!" (more than one conference attendee)