Sara Cortes has over a decade of experience in financial regulation. She currently heads the Investment Adviser Regulation Office in the Division of Investment Management of the SEC, where she leads the consideration of policy issues affecting registered investment advisers. Ms. Cortes led the Commission’s Investment Company Reporting Modernization initiative, which the Commission adopted in 2016. This rulemaking will transform the amount and quality of data that mutual funds will provide regarding their portfolios and business operations in order to enhance all aspects of the Commission’s regulation of asset managers.
As Senior Advisor to the Honorable Elisse Walter, she advised the Commissioner on a variety of enforcement actions and domestic and international regulatory initiatives. During Ms. Walter’s tenure as Chairman, Ms. Cortes served as her Deputy on the Financial Stability Oversight Council. Ms. Cortes also advised the Commissioner on rules implementing Title VII of the Dodd-Frank Act regarding the SEC’s domestic and cross-border regulation of security-based swaps, as well as rules implementing provisions of the JOBS Act.
Ms. Cortes has also advised the SEC’s Enforcement Division on numerous enforcement actions as an attorney in the SEC’s Office of General Counsel. Before joining the SEC, Ms. Cortes handled a broad range of enforcement actions and regulatory matters at the Federal Reserve Board. In private practice, Ms. Cortes conducted internal investigations and advised underwriters and issuers in public offerings and private placements.
Regina Thoele is Senior Vice President of Compliance at National Futures Association (NFA). Her current responsibilities include overseeing the Compliance Department’s exam, investigation, financial surveillance, and risk management programs; working on enforcement cases; advising Members on compliance issues; assisting NFA Member committees; participating in industry conferences; and developing and monitoring Compliance Department goals. In addition, Ms. Thoele works with NFA’s Legal Department to develop rules and interpretive guidance, makes presentations to NFA’s Executive Committee and Board of Directors and to other outside organizations, and develops strategic plans and initiatives for NFA’s Compliance Department. From July 1994 until March 1998, Ms. Thoele held the position of Arbitration Manager and was responsible for supervising staff and helping manage the Arbitration program. Ms. Thoele has also served as an adjunct faculty member at the Illinois Institute of Technology, where she taught a compliance course.
Ms. Thoele attended Indiana University and received a B.S. degree in finance. Ms. Thoele also received her designation as a Certified Regulatory and Compliance Professional through the NASD Institute at The Wharton School, as well as her designation as a Certified Fraud Examiner through the Association of Certified Fraud Examiners.
Mark Berman advises and conducts training programmes for hedge funds, investment managers, issuers, regulators and multi-national banks and brokers in Europe and Asia on SEC practice outside the United States, UK and EU issues and cross-border regulatory, compliance and AML matters.
Mark was a lawyer with the Division of Corporation Finance and the Division of Market Regulation of the US Securities and Exchange Commission where he worked on domestic and foreign private issuer disclosure and trading practices issues, respectively. He was a lawyer with the London Stock Exchange where he advised on UK, EU and US supervision, surveillance and regulatory matters and listing rules issues, and helped draft the 1994 re-write of the trading rules. Mark began his career in financial services with Merrill Lynch.
Apart from his leading CompliGlobe and his time as a regulator, he held senior positions as head of legal and compliance, compliance officer, MLRO and assistant company secretary. He chaired and served on new product committees. Mark wrote An Introduction to Hedge Funds (Risk Books). He edited and contributed to SEC Regulation Outside the United States (Risk Books) and Hedge Funds & Prime Brokers (Risk Books).