Overview
Navigating today’s evolving legal, regulatory, and compliance landscape.
Community Co-Chairs:
Julie Lyman, Associate General Counsel, Managing Director, Bank of America Merrill Lynch
Rebecca Ulz, Vice President, Managing Legal Counsel, T. Rowe Price
Community Leader:
Steve Stone, Partner, Morgan Lewis
Join industry peers and legal experts for timely and practical discussions on the evolving legal and regulatory landscape. This three-part Virtual Forum will address the shifting legal and compliance landscape and emerging challenges facing legal professionals across the industry.
Topics will include:
- Managing Compensation Conflicts
- Alternatives, Crypto, and Digital Assets in Managed Accounts
- SEC Investment Adviser Marketing Rule Discussion
- Side-by-Side management of retail SMAs, Model Portfolios, ETFs, and Other Vehicles
- Integrating Artificial Intelligence and Managed Accounts
This Forum is designed for legal, compliance, and risk management professionals seeking to stay ahead of regulatory developments and implement best practices across their firms.
Sessions will be recorded unless otherwise noted. If you cannot attend live, please still register so we can share any available replays with you.
Interested in registering?
Contact Arlen Oransky at aoransky@mminst.org or 646.868.8505
OR
Contact Ken Bossen at kbossen@mminst.org or 646.505.4991
The 2025 MMI Legal & Compliance Virtual Forum will take place across the following three days:
- November 07, 2025 – 11:00 AM ET – 1:00 PM ET
- November 13, 2025 – 11:00 AM ET – 1:00 PM ET
- November 19, 2025 – 11:00 AM ET – 12:00 PM ET
Friday, November 7 (Click to Expand Agenda)
Friday, November 7, 2025
| Time | Description | |
|---|
11:00 AM - 12:00 PM
1 Hour | SEC Investment Adviser Marketing Rule Discussion
This panel will discuss common themes with performance and other content in advertisements under the Marketing Rule as they relate to retail managed accounts. Areas of focus include SEC staff guidance and enforcement actions related to the Rule since the 2022 compliance date. The panel will also discuss current approaches and requirements with persons giving testimonials and endorsements, including in the social media context of arrangements involving financial influencers.
Moderator:
Christine Schleppegrell, Partner, Morgan Lewis
Speakers:
Amanda Gibbons, Assistant Vice President and Senior Counsel, MFS Investment Management
Julie Lyman, Associate General Counsel & Managing Director, Bank of America Merrill Lynch
Mike Terzuoli, Senior Legal Counsel, Corient | |
12:00 PM - 1:00 PM
1 Hour | Side-by-side Management of Retail SMAs, Model Portfolios, ETFs, and Other Vehicles
This panel will discuss issues faced by program sponsors and participating investment advisers when offering the same or substantially similar strategies in different platforms or through different vehicles (such as registered investment companies, exchange traded funds, private funds, model portfolios, and non-discretionary accounts), including from a suitability and clients’ best interest perspective. The panel will focus on how participants can differentiate similar products when considering reasonably available alternatives in this context.
Moderator:
Christine Lombardo, Partner, Morgan Lewis
Speakers:
Todd Cook, Managing Director & Associate General Counsel, JP Morgan
Lindsey Edwards, Vice President, Senior Counsel, Asset & Wealth Management Division, Goldman Sachs
Jessica Howell, Vice President, Senior Counsel, MFS Investment Solutions This session will not be recorded. | |
Thursday, November 13 (Click to Expand Agenda)
Thursday, November 13, 2025
| Time | Description | |
|---|
11:00 AM - 12:00 PM
1 Hour | Alternatives, Crypto, and Digital Assets in Managed Accounts
This panel will tackle the groundbreaking changes and legal and practical hurdles involved in adding alternatives, crypto, and digital assets in retail managed accounts. With alternatives (including private equity, hedge funds, real estate, and other private funds), the panel will discuss the recent changes allowing broader exposure to alternatives in interval funds and other registered products, the White House’s August 7 Executive Order on retirement accounts, changes to NASAA guidelines and state rules for certain non-traded alternatives subject to greater state regulation, and approaches to addressing suitability (including share class or vehicle suitability), due diligence and asset allocation issues.
Moderator:
Steve Stone, Partner, Morgan Lewis
Speakers:
Michael Annunziata, Executive Director, Head of Digital Assets and Fund and Insured Solutions Compliance, Morgan Stanley Wealth Management
Nate Saint Victor, Executive Vice President, Interim Co-Chief Legal Officer, LPL Financial | |
12:00 PM - 1:00 PM
1 Hour | Managing Compensation Conflicts
With the changing landscape of the arrangements between program sponsors, clients and participating investment advisers, this session will focus on the interplay between economic considerations associated with managed account arrangements, related conflicts and disclosure considerations, and special issues with ERISA and other retirement accounts. Topics the panel will cover include the introduction of platform fees, raise and rebate arrangements, unitary fee arrangements, financial professional compensation, and related conflicts and disclosure issues.
Moderator:
Dan Kleinman, Partner, Morgan Lewis
Speakers:
Leah Buenaventura, Managing Director & Associate General Counsel, Bank of America Merrill Lynch
Carolyn Jayne, Senior Vice President, Associate Counsel, LPL Financial This session will not be recorded. | |
Wednesday, November 19 (Click to Expand Agenda)
Wednesday, November 19, 2025
| Time | Description | |
|---|
11:00 AM - 12:00 PM
1 Hour | Integrating Artificial Intelligence and Managed Accounts
This panel will discuss how investment advisers are adopting generative artificial intelligence (AI) into retail managed accounts and, more generally, across investment processes, research, investment decision making, marketing, compliance, training, and other use cases. The panel will share perspectives on responsible use of AI, including keeping a “human-in-the-loop,” addressing risk management, conflicts of interest, and oversight of vendors and data privacy.
Moderator:
Steve Stone, Partner, Morgan Lewis
Speakers:
Aaron Ellias, Assistant General Counsel, Advisory, Robinhood Markets, Inc.
John Zevitas, Managing Legal Counsel, T. Rowe Price | |
