AI Use, AI Policies & SEC Expectations: Compliance Considerations for Investment Advisers

Speakers

• 

  E.J. Yerzak Managing Director, Salus GRC
  

  E.J. Yerzak

  Managing Director, Salus GRC

  E.J. Yerzak, CISA, CISM, CRISC, is Managing Director at Salus GRC. He has over two decades of experience as a cybersecurity and regulatory compliance professional and thought leader helping financial services firms manage risk. His cybersecurity experience includes governance, vulnerability and penetration testing, consulting on data security incidents, reporting frameworks and related cybersecurity risk assessments (including NIST and NYDFS), and vendor due diligence, as well as management of teams conducting phishing testing and dark web monitoring. His regulatory experience includes consulting for private equity funds, hedge funds, pension consulting firms, and retail wealth managers on investment adviser compliance programs, compliance forensic testing, risk assessments, and annual reviews.

  Prior to joining Salus GRC, E.J. was Director of Cybersecurity Services for Confluence Technologies, which acquired Compliance Solutions Strategies (CSS) where he served in the same role. CSS acquired Ascendant Compliance Management, where E.J. was a Partner and senior consultant.

  As a cybersecurity expert, E.J. has authored numerous articles on emerging technology and regulatory issues published in journals and by third parties and is the author of two award-winning technothriller fiction novels. He is frequently requested to speak at industry conferences around the world on cybersecurity, regulatory compliance, and blockchain.

  E.J. holds a juris doctorate (J.D.) magna cum laude from Quinnipiac University School of Law and is licensed to practice at the State Bar of Connecticut and in federal court before the District Court for the District of Connecticut. He also has an MS from Central Connecticut State University in Computer Information Technology/Computer Science, and a dual BA from Colgate University magna cum laude in English and Computer Science.

• 

  Matt Calabro Managing Director, Salus GRC
  

  Matt Calabro

  Managing Director, Salus GRC

  Matt Calabro is a Managing Director at Salus GRC. His broad compliance, operations and consulting experience enables him to help organizations make compliance a strategic asset. He works with firms to develop compliance programs, conduct risk assessments and exams and implement control improvements. He has specific expertise on compliance matters relating to investments and trading for equities and fixed income, including CLOs and structured credit. Matt is an experienced chief compliance officer, having served as CCO for registered mutual funds, investment advisers and UCITS funds, both in an in-house and outsourced capacity.

  Before joining Salus GRC, Matt was Executive Director and co-head of the Compliance Services practice at Confluence Technologies (formerly Ascendant Compliance Management). There, he was responsible for all aspects of the business, including business development and leading a team of consultants in client delivery. Prior to that, he was Deputy CCO at Macquarie Investment Management, where he led the daily activities of the firm’s compliance department and oversaw improvements in the compliance program and technology. Before Macquarie, Matt spent 20 years in Raymond James’ asset management business in a variety of compliance, operations and financial executive roles, and ultimately led mutual fund operations. Matt began his career as an auditor at Price Waterhouse.

  Matt earned his B.S. in Accounting and Master of Accounting from the University of Florida. He is a Certified Public Accountant.

• 

  Angela McCray General Counsel, SurgoCap Partners, LP
  

  Angela McCray

  General Counsel, SurgoCap Partners, LP

  Angela McCray is the General Counsel and Chief Compliance Officer at SurgoCap Partners, an investment firm based in NYC. Prior to joining Surgo in 2022, she was the General Counsel at Greenoaks Capital Partners and Entangled Ventures, a venture studio building companies in the education space. Prior to this, Angela was a corporate attorney at Gunderson Dettmer representing venture capital firms and venture backed companies after starting her legal career at Simpson Thacher & Bartlett in New York. Before attending law school, Angela worked as a CPA at PwC in both the audit and tax groups. Angela holds a J.D. from Stanford Law School and attended the University of Louisiana at Monroe. Angela is a member of the ULM Foundation Board of Trustees and a member of the boards at Start Small Think Big, a nonprofit focused on creating pathways to sustainable economic mobility for under-resourced small businesses, and Indego Africa, a nonprofit supporting artisan owned businesses in Rwanda and Ghana.

• 

  Steven W. Stone Partner, Morgan, Lewis & Bockius LLP
  

  Steven W. Stone

  Partner, Morgan, Lewis & Bockius LLP

  Steven W. Stone is a leading securities lawyer and head of the firm’s financial institutions practice, advising many of the largest US broker-dealers, investment banks, investment advisers, and mutual fund organizations. He counsels clients on SEC, FINRA, and state regulations, focusing on broker-dealer, investment adviser, bank fiduciary, and pooled investment vehicle matters. Steve represents clients before the SEC and FINRA in both regulatory relief and enforcement contexts.

  He advises major broker-dealers serving high-net-worth, retail, and self-directed clients, with particular expertise in the SEC’s retail advice regulations, including Regulation Best Interest and Form CRS. He is also a recognized authority on managed accounts and wrap fee programs, serving as counsel to the Money Management Institute. His work covers institutional investment management issues such as conflicts, trading, disclosure, advertising, distribution, and compliance, and he regularly advises industry groups including SIFMA and the ICI.

  Steve’s practice spans regulatory and transactional matters, including innovative product development, hedge fund regulation, trading practices, soft dollar arrangements, and mergers and acquisitions involving broker-dealers and advisers. He has secured significant SEC relief for clients on matters ranging from research payment arrangements to custody, principal trading, and electronic delivery requirements.

  A co-leader of the firm’s investment funds industry team and former managing partner of its Washington, DC, office, Steve is consistently recognized for his expertise. Chambers USA has named him among the nation’s top investment management and broker-dealer lawyers since 2005, praising his “tremendous expertise” and business-focused approach. The US Legal 500 has listed him for mutual fund formation and management since 2009.