SEC Proposed Rule 2a-5: What you need to know.

Recorded On: 06/25/2020

Amid an evolving regulatory environment, asset management industry professionals are focused on synching up valuation processes with the SEC's proposed Rule 2a-5. Our panel of experts will discuss best practices for a consistent, modern approach to the determination of fair value. Join us for key takeaways of the proposed rule and its potential impact on boards, advisers, and auditors.

Learning objectives:

· Developing best practices for fair value methodologies

· Updating testing (e.g. back-testing or calibration) and record keeping processes

· Assessing material risks

· Evaluating third party services

Paul Kraft (Moderator) (Moderator)

Lead Partner, U.S. Mutual Fund and Investment Adviser Practice Leader, Deloitte

Chris Maher

Deputy Treasurer, Fidelity Funds

Chris Maher is Vice President and Deputy Treasurer of the Fidelity funds. In this role, he is responsible for oversight of the funds’ valuation and liquidity risk management operations; fund policy setting and interpretation with respect to valuation and liquidity risk management matters; leading the funds’ Fair Value Committees & Liquidity Risk Management Committees; and liaising with the funds’ boards of trustees. Prior to assuming his current responsibilities Mr. Maher led Fidelity’s Asset Management Regulatory Reform Program Office providing governance and implementation support for new financial regulations.

Mr. Maher earned a Master of Science degree in finance from Brandeis University, and a Bachelor of Science degree in accounting from Nichols College. He has been in the investments industry since 1994.

Ira Cohen

Independent Chairman, Angel Oak Funds Family of Funds

Ira Cohen is a successful mutual fund executive with over 39 years of retail, offshore and institutional experience. He currently serves as an Independent Chairman of the Angel Oak Funds Family of Funds. He is also Chairman of the Audit Committee of the Griffin Capital Funds and the Governance Chairman for the Valued Adviser’s Series Trust Funds .

Ira is also Executive Vice President of Recognos Financial which is a developer of AI data and software solutions.

In addition, over the last fifteen he has run his own successful consulting company. His client list includes DTCC, Fidelity, Goldman Sachs, Waddell & Reed, DST Systems and FINRA.

Prior to becoming a consultant, Ira spent 13 years as a Senior Vice President of INVESCO Fund Services, formerly known as AIM Investments. He was responsible for all Transfer Agent Operations and Services for retail, retirement, institutional, and offshore funds. Before joining INVESCO he held senior management positions at Bank of New York and Prudential Mutual Fund Services.

Ira has held FINRA Registered Series 6, Series 26, and Series 63 licenses. While regarded as a mutual fund expert, Ira has been a keynote speaker at many industry conferences and has been an active member on several industry wide committees.