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News October 3, 2005 Issue

Date for CCOutreach National Seminar Set

The SEC’s first "CCOutreach Program National Seminar" will be Tuesday, November 8, from 9:00 am until 4:45 pm, at the agency’s Washington, D.C., headquarters. It also will be webcast at

In-person attendance is limited to 500, "with CCOs given priority on a first-come, first-served basis," according to an SEC statement.

In contrast to the regional CCO seminars, which "focused on the ‘nuts and bolts’ of the examination process" and SEC resources available to help CCOs, the National Seminar will include panel discussions with SEC staff and industry CCO representatives "on the latest policy developments relevant to CCOs." The seminar also will address questions raised at the regional seminars and elsewhere.

The agenda for the seminar has not yet been published. However, the program will be geared towards CCOs for mutual funds as well as advisory firms. An SEC statement announcing the date provided the following IM Division phone number for folks with questions: (202) 551-6733.

Also in the works: a periodic SEC staff newsletter, titled the "CCObserver." The newsletter will be posted on the SEC’s CCOutreach website, but will not be e-mailed directly to CCOs as originally envisioned. The CCObserver will allow the staff to communicate with CCOs — and apparently everyone else — about new rules, interpretive releases, recent examination findings, relevant enforcement actions, and other areas of interest. "Readers of the CCObserver are invited to submit general questions or comments or techniques for effective compliance to the CCObserver editors at," said a statement on the SEC’s CCOutreach website.

In addition to the newsletter, the staff will post "Compliance Call-Outs," which apparently are as-needed compliance updates, on the CCOutreach website. Again, the SEC is not currently planning to e-mail Compliance Call-Outs directly to CCOs.