Agenda
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Thank you to all attendees, sponsors, and exhibitors for helping to make our 9th annual National Fixed Income Conference our strongest yet. A detailed summary of our conference is below and please reach out with any questions or comments. We need your feedback to ensure we continue building a tangibly beneficial conference with the right topics and speakers all focused on the U.S. markets.
Key Highlights from the Event Include:
- 220 attendees - fixed income leadership representing all aspects of the markets
- Over 85 firms represented from literally coast-to-coast
- Over 30 exhibitors and sponsors whose support helps to make this event possible
Conference Sessions - October 19th
Fixed Income Oversight and Regulation - a Fireside Chat with FINRA President and CEO Robert Cook
Specifically, Dannenberg and Cook discussed:
- The evolving role of the SRO model
- Regulation through enforcement
- Regulatory impact on market liquidity
- FINRA Rule 4210
- Retail Confirm Disclosure
U.S. Corporate Bond Market Structure
Panelists:
- Fred Allen, Managing Director & Head of Credit Sales, KeyBanc Capital Markets
- Horace Carter, Managing Director, Head of Fixed Income Trading, Raymond James
- Richard Schiffman, Open Trading Product Manager, MarketAxess
Additional topics discussed included, electronic trading, corporate bond market liquidity, MiFID II, and buy side activity.
Market Opportunities and Outlook for U.S. Public Finance
Panelists:
- Keith Kolb, Managing Director & Director of Public Finance, Robert W. Baird
- Scott Sollers, Manager, Western Region, Build America Mutual
- David Medanich, Vice Chairman, Hilltop Securities, Inc.
This session began with the expert panelists identifying the trends in the market and dealer businesses, including direct purchase and publicly offered transactions, and explained how these trends are impacting middle-market dealers. More specifically, panelists talked about:
- The impact that tax reform may have on the municipal securities market
- The current credit landscape and future trends
- The current regulatory development and the impact to the market and dealer businesses
- The current overall business activity of middle-market dealers and forecasted trends
Market, Business and Regulatory Trends Impacting the U.S. Fixed Income Markets
Panelists:
- John Fechter, Managing Director Taxable Fixed Income Trading, Wells Fargo Advisors
- Steve Genyk, Managing Director, Head of Municipal Trading, WMA Capital Markets, UBS
- Bill Gartland, Vice President, Fixed Income Data and Analytics, Broadridge Financial
During this panel discussion, senior capital markets professionals focused on the most significant trends impacting the fixed-income business, including the sift from the brokerage model to the advisory model, how regulation, including the DOL's Fiduciary Duty Rule and the Muni MA Rule are changing the way dealers engage with clients, as well as how dealers are utilizing technology to connect with clients.

View from the Buy Side: The Future of Fixed Income
Panelist:
- Jim Switzer, Head of Credit Trading, AllianceBernstein

Conference Sessions - October 20th

Managing the Growing Regulatory Burden
Panelists:
- John Holman, Chief Operating Officer/Chief Compliance Officer, First Southern Securities
- John Reilly, Managing Director, Head of Business Strategy & Capital Markets Trading, Wells Fargo
- Don Winton, Chief Operating Officer, Crews & Associates
- Gregg Bienstock, Chief Executive Officer & Co-Founder, Lumesis

Municipal Market Rulemaking - An Interview of MSRB Executive Director Lynnette Kelly
Panelist:
- Lynnette Kelly, Executive Director, Municipal Securities Rulemaking Board (MSRB)

Tax Reform and the DC Outlook
Panelists:
- Jane Campbell, Director of Washington Office, National Development Council
- Bob Kyle, Partner, Hogan Lovells
- Vince Sampson, Special Counsel, Cooley LLP
Members of the Municipal Bonds for America (MBFA) Coalition discussed the political climate in Washington and the potential for Congressional action on tax reform, including the potential impact on the municipal bond interest exemption, the possibility of a federal infrastructure package and what it could mean for public-private partnerships, and financial services regulatory reform. Panelists also discussed:
- Five (5) key considerations for tax reform
- The constant threat of losing the tax-exempt status of municipal bonds balanced withe other "revenue raisers"
- The differences between comprehensive tax reform and the political challenges that will bring forth a tax cut
Roundtables & Networking Reception
In addition to the featured National Fixed Income Conference, the BDA also hosted for its members, two dealer roundtables: