MEMORANDUM

From: Caryn Kauffman

Chief Financial Officer, U.S. Securities and Exchange Commission

Subject: U.S. Securities and Exchange Commission’s (SEC) FY 2023 Conference Report

Date: January 9, 2024

Office of Management and Budget (OMB) memorandum M-12-12, as amended by memorandum 

M-17-08, requires federal agencies to issue an annual report related to its conference-related expenditures 

for the previous fiscal year. This document constitutes the SEC’s report for Fiscal Year (FY) 2023. 

The SEC has put in place policies and procedures governing the approval and use of agency funds for 

conference expenses, to ensure that such spending is legal, reasonable, and in furtherance of the agency’s 

mission to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. 

At a high level, the major steps in this process are as follows:

1. All SEC division/office requests to spend money on hosting a conference must be approved by 

the division/office head or his/her designee. Divisions and offices are required to use SEC 

facilities for such events, whenever possible, to minimize space rental and equipment costs. 

To limit expenses for meals or refreshments, the SEC uses per diem rates established for the 

federal government as the ceiling for any such costs, except when higher rates are unavoidable 

or otherwise justified. The acquisition of any goods, services, or meeting space is subject to 

the applicable policies and regulations which govern these areas.

2. When a request for funds is necessary and has received approval from the division/office head, 

it is reviewed by staff in the Office of Financial Management (OFM) to ensure the expenses 

are permissible under the applicable polices and regulations. OFM has an automated system 

for the submission, review, and approval of all SEC conference requests that enables OFM to 

monitor and control conference spending, as well as record actual conference spending after a 

conference has been held.

3. Each request must receive final approval from designated officials according to the total 

projected cost. These designations comply with OMB Memorandum 12-12.

4. The SEC is reporting conferences which meet thresholds defined in P.L.117-328 Division E, 

Title VII, Sections 738 (a), (b), and (c), to the SEC’s Office of Inspector General via separate 

correspondence. 

For FY 2023, the SEC authorized 53 conferences (including training conferences) with costs totaling

$1,359,523.

Attachment.
ATTACHMENT 1

U.S. Securities and Exchange Commission

FY 2023 Conference Activity Report

Conferences over $100,000:

In FY 2023, the SEC authorized four conferences costing greater than $100,000, which are described 

below:

A. 2023 Southeastern Securities Conference, Miami, FL, April 27-28, 2023

• Cost incurred: $127,631

• Number of attendees: 242 (90 SEC attendees and 152 non-SEC attendees)

The Southeastern Securities Conference was held in Miami, FL. on April 27 and 28, 2023. The 

Southeastern Securities Conference highlights a comprehensive list of substantive law issues, as well 

as procedural information for federal and state regulators, investigators, and prosecutors.

B. 2023 Annual Leadership Conference for the Division of EXAMS, SEC Headquarters, Washington 

DC, May 17-19, 2023

• Cost incurred: $321,295

• Number of attendees: 312 (all SEC attendees)

On May 17-19, 2023, EXAMS held its leadership conference at SEC Headquarters in Washington, 

DC, which focused on initiatives to increase EXAMS capabilities. The conference was the first large 

scale in-person event in three years. The conference gathered SEC managers and senior staff from 

across the Examination Program to collaborate on strategic planning and to provide training. It 

included presentations and discussions on risk assessment tools and procedures, implementation of 

new requirements, and increasing EXAMS collaboration with other Commission offices and 

divisions.

C. 2023 Chief Enforcement Conference, SEC Headquarters, Washington DC, June 12-13, 2023

• Cost incurred: $174,489

• Number of attendees: 173 (all SEC attendees)

The Enforcement Division conducts investigations, litigates actions, negotiates settlements, and 

coordinates with the Commission and other SEC divisions and offices regarding the national 

enforcement program. The Chief Enforcement Conference (CEC) was held at SEC headquarters in 

Washington, D.C. on June 12-13, 2023. The conference served as a strategic planning and training 

session for the Division’s senior managers and provided an important opportunity for attendees to 

discuss relevant enforcement topics with the Chair and participating Commissioners.
ATTACHMENT 1

D. 2023 Enforcement Division National Attorneys Conference, SEC Headquarters, Washington DC, 

September 21-22, 2023

The National Trial Attorneys Conference was held at SEC Headquarters in Washington, DC, on 

September 21-22, 2023. The event provided an opportunity for all SEC trial attorneys, Regional Trial 

Counsel, Supervisory Trial Counsel, and Trial Unit Senior Officers to attend panel discussions and 

training on developments in substantive areas of law they encounter in their litigation practice at the 

SEC. Other goals were to ensure they are familiar with the Division’s policies and procedures, and 

to share ideas about how to best carry out the SEC’s litigation.

• Cost incurred1: $186,076

• Number of attendees: 166 (165 SEC attendees and one non-SEC attendee)