2017 Summary

As part of the organization's advocacy initiatives, NASP hosts an annual Legislative Symposium with key financial oversight representatives and decision-makers from congressional committees, federal and regulatory agencies and quasi-public private sector entities. This year's event was held on September 20th at the National Press Club in Washington, D.C. and covered topics impacting broker-dealers, asset managers, and the overall financial services industry. 

The Honorable J.C. Watts, Founder, Watts Partners; Former Congressman (House Transportation and Infrastructure Committee &  House Financial Services  Committee), Former Chairman, Republican Conference kicked off the Symposium sharing his experience working with both Republicans and Democrats while in office and his thoughts on the current political climate. The Directors of the Offices of Minority and Inclusion at the SEC, the FDIC, and the Federal Reserve Board of Governors discussed ways that NASP members can assist in furthering the mission of diversity and inclusion at federal agencies as it relates to business opportunities. While the OMWI offices have been working on implementing some changes, additional research, data and policy initiatives must be conducted to truly foster the spirit of the creation of the OMWI offices which was a result of the Dodd-Frank Act (Section 342). 

Panelists from  GSE's including the 
Federal Home Loan Bank of Chicago, the Federal Home Loan Bank of New York, the Federal Home Loan Bank's Office of Finance, and Fannie Mae provided an overview of their respective agencies, initiatives implemented to include MWBE firms in transactions in the various Banks, and future potential areas to work with NASP member firms. The luncheon included speakers Chris Garcia, acting National Director of the MBDA under the U.S. Department of Commerce as well as remarks from the CEO of the Lousiana Asset Management Pool (LAMP), Theo Sanders.

The luncheon was followed by two presentations: Michael Davis, T. Rowe Price, Former Deputy Secretary, Department of Labor who discussed the history of the Fiduciary Rule as well as potential impacts of the rule on the asset management industry and Robert Owens, Capital Markets & Fixed Income Investor Relations Director at Farmer Mac - the nation's premier secondary market for agricultural credit  that provided an important overview of the agency which was represented for the first time during a NASP Symposium. The presentation discussed the financial solutions provided to agricultural lenders, agribusinesses and others to finance rural America and their current use of MWBE broker-dealers and future potential opportunities in transactions. The program ended with an update from the NASP-USAID MiDA Investment Partnership with Christian Dunbar, Deputy City Treasurer, Debt, City of Philadelphia, Christine Phillpotts, CFA, Senior Vice President, Equities, AB, Aymeric Saha, NASP/MiDA Program Managing Director and Miguel C. Thames, CFA, Managing Director, Global Institutional Relations Group, PGIM. 

The NASP Annual Meeting was also held for members and Executive Director Orim Graves provided a brief history of NASP, updates from the past year, and the future  initiatives including strategic planning, upcoming events, and areas for growth and opportunity for the organization. The day ended with a networking reception for attendees.