ON May 12, 2015 CFA Society-Kansas City presented a lively panel discussion entitled: “Putting Investors First – Changes In Our Industry’s Regulatory Environment Since 2008, How Is It Impacting Our Industry and What Can We Do as Investment Professionals”
The reputation of the financial services industry has been tarnished in recent years by financial scandals, scams and practices that have put investor interests in second place. The “Putting Investors First” panel program will discuss the current ethical mandates and responsibilities, key regulatory issues pertinent today and tips for managing and thriving in this environment. It aims at promoting awareness of best practices in asset management including:
- Current and emerging regulatory trends
- Discovery and prevention of investor fraud
- Fairness and transparency in the financial markets
- Ethical dilemmas and gray areas
Expert speakers and panelists, including regulators and practitioners, panelist representatives included:
Thomas M Piccone
Associate Regional Director – U.S. Securities and Exchange Commission
Thomas M. Piccone is the Associate Regional Director managing the examination program in the Securities and Exchange Commission’s Denver Regional Office (“DRO”). Mr. Piccone joined the Commission’s staff in 1997, and worked in the Enforcement Division as an Attorney, Branch Chief, Trial Counsel, and Special Counsel before transitioning into the Commission’s examination program. He served as the Assistant Regional Director for the DRO’s investment adviser and investment company examination program from 2009 until moving into his current position in 2014.
Prior to joining the SEC, Mr. Piccone worked as an attorney with Gibson, Dunn & Crutcher LLP, where his practice emphasized litigation involving accounting and securities. He also served as a law clerk for U.S. District Court Judge Alfred A. Arraj, and prior to law school he was employed as a member of the management information consulting division of Arthur Andersen & Co.
Mr. Piccone received his bachelor’s degree in business (accounting) magna cum laude from the University of Colorado at Boulder in 1983. He earned his law degree from the University of Colorado Law School in 1987, where he was awarded the Order of the Coif. He became a certified public accountant in Colorado (currently inactive) in 1988.
Mr. Piccone has worked with a number of civic and charitable organizations in the Denver area, including serving as a member of the Board of Directors of Easter Seals Colorado and as the President of the Governing Board (Board of Directors) of Littleton Preparatory Charter School.
Director of Compliance and Enforcement – Office of the Kansas Securities Commissioner
Randy serves as the Director of Compliance & Enforcement for the Office of the Kansas Securities Commissioner. Randy is responsible for the regulatory oversight of securities brokers and dealers and investment advisers doing business in Kansas and for the supervision of administrative and criminal investigations of The Kansas Uniform Securities Act and Kansas Loan Brokers Act. Randy began his regulatory career with the Office of the Securities Commissioner in 1997. Randy also served as an examiner for NASD from 2002 to 2005 assigned to the Boston office. In 2006, Randy rejoined the KSC office and in 2012 was appointed to his current position of Director. From 2006 to 2011, Randy served as member and chair of the NASAA Investment Adviser Training Project Group. Prior to his regulatory career, Randy served for 20 years as a member of the Wichita Kansas Police Department, retiring in 1997 at the rank of sergeant. Randy has competed industry exams for Series 7, 24, 53, &63, and has an undergraduate degree from Friends University.
Associate District Director – FINRA’s Kansas City District Office
Jennifer Anne Luginbill is the Associate District Director of FINRA’s Kansas City District Office where she oversees the planning and execution of the Kansas City District Office’s cycle and cause programs and is responsible for guiding staff in the development of investigations and regulatory matters. Ms. Luginbill began her career with NASD in 2000 as a Compliance Examiner conducting routine examinations of member firms and completing cause related investigations. Prior to joining NASD/FINRA, Ms. Luginbill obtained banking and financial experience while employed at a regional bank broker-dealer in several different capacities including registered investment representative. In addition, Ms. Luginbill was also employed as a Compliance Examiner for the Kansas Securities Commissioner’s Office where she was responsible for reviewing both Broker-Dealers and Investment Advisers for regulatory compliance. She holds a B.S. in Business Administration from Drake University and obtained the Certified Regulatory and Compliance Professional (CRCP) designation from the FINRA Institute at Wharton in 2008.
Executive Vice President/Chief Investment Officer – UMB Bank
KC Mathews joined UMB Private Wealth Management in 2002. As Executive Vice President and Chief Investment Officer, KC is responsible for the development, execution and oversight of UMB’s investment strategy. He is chairman of the Trust Investment and Asset Allocation Committees and chairman of the Asset Management Policy Committee.
KC has more than 25 years of experience in investments analysis and management for individuals, families, business owners and charitable organizations. Prior to joining UMB, he was a vice president and manager of the portfolio management group at Bank of Oklahoma for nine years. He was also employed by Kidder, Peabody & Co. for five years.
KC earned a Master of Business Administration from the University of Notre Dame after completing his bachelor’s degree at the University of Minnesota. He also attended the ABA National Trust School at Northwestern University and completed an advanced education program in investment management at the Harvard Business School.
KC is a member of the CFA Institute. He is past president of the Kansas City CFA Society and a past president of the Oklahoma Society of Financial Analysts.
KC sits on the board and executive committee for Junior Achievement and is also currently a board member of Operation Breakthrough. He is a member of the advisory board for the University of Central Missouri’s Harmon College of Business Administration, serves on the faculty of the School of Banks, and has taught finance and investments at several universities.
James Jones , CFA (Moderator)
Sterling Investment Advisors
James G. Jones, CFA, is the founder and managing member of Sterling Investment Advisors, LLC, a fee-based private client investment management firm. Mr. Jones was a tenured Assistant Professor of Business Administration at Southwest Baptist University. He was the 1990 recipient of the Orien B. Hendrex Distinguished Teacher Award. He previously served as chair of the Planning Committee of the CFA Institute Board of Governors, a CFA exam grader, and served on the Council of Examiners, with a term as chairman. Other service includes membership in the 2006 Practice Analysis Task Force and the 2007 Continuing Education Task Force, and the 2012 Society Partnership Working Group. Mr. Jones was awarded the C. Stewart Sheppard Award in 2008. He has a BS in economics/business administration from Southwest Baptist University and an MBA from the University of Arkansas.