West Coast Regional Meeting

Implications of the Credit Crunch on the Investment Industry

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Conference Agenda

8:00 – 9:00 a.m.
Registration and Continental Breakfast
Sponsored by

9:00 – 9:45 a.m.
Keynote Address
A Wild Ride to Nowhere

Randal C. Burge, CFA, Managing Director, Investments
Russell Investments

The last year has produced one of the "wildest rides to nowhere" in some time. Looking back over recent events for context, Russell's Randy Burge offers his views on 2008: where the markets are heading, which trends to avoid, and which to champion.

9:45 – 11:00 a.m.
Developments in the Valuation of Portfolio Securities:
The Operational Implications of the Credit Crisis

Brian D. Bullard, Vice President, Fund Business Management Group
Capital Research and Management Company

Liz Duggan, Senior Director
Interactive Data

Tim Mundy, Partner, Investment Management
Deloitte & Touche LLP

Proper valuation of portfolio securities is a cornerstone of our industry. On a daily basis, industry professionals need to contend with evolving regulations and constantly changing market conditions as they value securities. Recently, this has been highlighted by the ongoing credit crisis and the challenges of valuing certain fixed income securities. Our panel of industry experts will share their perspectives on important regulatory developments affecting securities valuation in general such as PCAOB, FAS 157 and SEC guidance. They will also discuss how the current market conditions are directly impacting how investment, compliance and risk professionals oversee the valuation process, including use of third party pricing vendors and broker quotes.

11:00 – 11:15 a.m.
Break

11:15 a.m. – 12:30 p.m.
Risk Management in the Credit Crunch

David Chrencik, Partner
PricewaterhouseCoopers LLP

Ilene Harker, Head of Enterprise Risk
Western Asset Management Company

Charles C.S. Park, Chief Compliance Officer of U.S. Funds
Barclays Global Investors

Since the summer of 2007, the crisis in the fixed income markets has changed the operational, regulatory and legal risks faced by fund managers. Our panel of professionals on the front lines of the credit crisis will discuss these new issues as well as how they have addressed them.

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CPE Information

NICSA is pleased to offer this group-live learning activity to attendees who are seeking CPE credits. Up to 3 CPE units may be available for attendees of this conference. The conference sessions require no advanced preparation, no pre-requisite study and are appropriate for all who have a basic understanding of the investment management industry.

NICSA is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses of CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org