Interactive Symposium on Internal Controls and Risk Management Practices
The Commodity Futures Trading Commission sponsored a one-day interactive symposium on June 24, 1996, to focus on what users, brokers and dealers in financial instruments should know about risk management practices and internal controls and the role of regulators and self-regulators in assuring maintenance of adequate risk management practices.
The symposium brought together representatives from brokerage houses, law firms, self-regulatory organizations, accounting firms, corporations, and regulators from around the world to discuss various approaches to assuring adequate internal controls and risk management practices.
The video from the Interactive Symposium on Internal Controls and Risk Management Practices will be available on August 12, 1996. This video highlights the important points and topics which came out of the timely symposium. It is a must see for all those involved in the area of commodities regulation including law firms, auditors, brokers, FCMs, end-users, regulators and self-regulators. The set of tapes is divided into 4 separate volumes each lasting 45 minutes. The first tape addresses risk management and internal controls concerns from the perspective of an FCM/dealer and a counterparty, the second one addressess what users need from audit reports, the third tape addresses end-users' perspectives on risk management and internal controls and the final segment addressess what can and should regulatory and self-regulatory authorities be doing with respect to risk management strategies and internal controls. In order to recoup the costs associated with producing this video, the CFTC must charge $34 for this 4 volume set of VHS tapes. This charge includes postage. Please make your checks payable to the CFTC and mail them to the attention of Janis Kelly, Division of Trading and Markets. For more information on this limited offering, please contact Janis Kelly or John Lewis at firstname.lastname@example.org
The proceedings of the individual panels were edited from taped transcripts of the sessions.
A BIBLIOGRAPHY OF THE HANDOUTS
ACTING CHAIRMAN JOHN E. TULL JR.'S OPENING REMARKS
DIRECTOR OF THE DIVISION OF TRADING AND MARKETS ANDREA M. CORCORAN'S OPENING REMARKS
DIALOGUE -- RISK MANAGEMENT AND INTERNAL CONTROLS CONCERNS FROM THE PERSPECTIVE OF AN FCM/DEALER AND A COUNTERPARTY
Thomas A. Russo, Lehman Brothers- Chair
Kenneth M. Raisler, Sullivan and Cromwell
Laurence Mollner, Dean Witter Reynolds, Inc.
John P. Davidson, Morgan Stanley & Co, Inc
Gordon Linn, First Options of Chicago
Daniel T. Mudge, Bankers Trust Co.
Gary Alan DeWaal, FIMAT Futures U.S.A., Inc.
COUNTERPOINT: EVALUATING RISK MANAGEMENT AND INTERNAL CONTROL SYSTEMS -- WHAT DO USERS NEED FROM AUDIT REPORTS
Leslie Rahl, Capital Market Risk Advisors- Chair
Christine Cumming, Federal Reserve Bank of New York
Don Leslie, Canadian Investor Protection Fund
David M. Kozak, John W. Henry & Co., Inc.
Bill Pauly, ING Derivatives Clearing
Debra Perry, Moody's Investor Services
Carmine DiSibio, Ernst & Young, LLP
Nicky Tan, Price Waterhouse, Singapore
Sundaresh Menon, Rajah & Tann
END-USERS' PERSPECTIVES ON RISK MANAGEMENT AND INTERNAL CONTROLS: THE POINTS OF VIEW OF THE BOARD OF DIRECTORS AND MANAGEMENT
Joseph Grundfest, Stanford University- Chair
Todd Petzel, The Common Fund
Verne O. Sedlacek, Harvard Management, Inc.
Gordon Binns, Virginia Retirement System
John Herlihy, The World Bank
David Jones, Fidelity Management & Research Co.
Allison Gregory, Long Term Capital Management
Kathryn M. Trkla, Chicago Board of Trade
Robert G. Easton, Commodities Corporation Ltd.
FREE FOR ALL: WHAT CAN AND SHOULD REGULATORY AND SELF-REGULATORY AUTHORITIES BE DOING WITH RESPECT TO RISK MANAGEMENT STRATEGIES AND INTERNAL CONTROLS
Kathryn J. Meyer, Chicago Mercantile Exchange- Chair
Michael A. Macchiaroli, Securities and Exchange Commission
William P. Miller, General Motors Investment Management Corp.
Daniel A. Driscoll, National Futures Association
Ronald S. Oppenheimer, New York Mercantile Exchange
Dennis A. Dutterer, Chicago Board of Trade Clearing Corp.