MEMORANDUM 

tl/:V

From: Caryn Kauffman GVChief Financial Officer, U.S. Securities and Exchange Commission 

Subject: U.S. Securities and Exchange Commission's (SEC) FY 20 I 9 Conference Report 

Date: January 3 I, 2019 

Office of Management and Budget (0MB) memorandum M-12-12, as amended by memorandum 

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

expenditures for the previous fiscal year. This document constitutes the SEC's report for Fiscal Year

(FY) 2019.

The SEC has put in place policies and procedures governing the approval and use or 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: 

I. 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. In

order to limit expenses for meals or refreshments, the SEC uses per diem raies established for

the federal government as the ceiling for any such costs, except when hi�,her 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 fr

om th•! division/office head. 

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

are permissible under the applicable polices and regulations. OFM has imp,emented 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 a�. record actual 

conference spending after a conference has been held. 

3. Each reque�;t must receive final approval from designated officials accordin_� to the total

projected cost. These designations comply with 0MB Memorandum 12- 12.

4. The SEC is reporting conferences which meet thresholds defined in P.L. 1 16-6 Division E,

Title VII, S,!ctions 739 (a), (b), and (c), to the SEC's Office of Inspector General via separate

correspondence.

For FY 2019, the SEC authorized I 03 conferences (including training conferences) with costs totaling 

$955,382. 

I 
Conferences over $100,000: 

In FY 2019, the SEC authorized two conferences costing greater than $100,000, which are described 

below: 

A. 2019 Division of Enforcement Chief Enforcement Conference (CEC), SEC Headquarters, 

Washington, DC, September 16-17, 2019 

• Cost incurred: 1 $115,725 

• Numbei- of attendees: 188 ( I 87 SEC attendees and 1 non-SEC attendee) 

The Division of Enforcement (Enforcement) conducts investigations into peter tial violations of 

the federal securities laws, litigates actions, negotiates settlements, and coordinates with the 

Commission and other SEC divisions and offices regarding the national enforcement program. 

Because Enforcement staff are located in Washington, DC and across 11 regional offices, 

periodic gatherings of Enforcement leaders help to ensure an efficient, well-coordinated national 

program. CEC served as a strategic planning and training session for Enfor,)ement's senior 

managers and provided an important opportunity for attendees to discuss relevant enforcement 

topics with the Chairman and participating Commissioners. 

B. 2019 National Trial Attorneys Conference, SEC Headquarters, Washington, DC, S•!ptember 26-27, 

2019 

• Cost incurred:' $103,0l I 

• Number of attendees: 124 attendees (119 SEC employees, 5 non-SEC employees) 

This event provided an opportunity for all SEC trial attorneys, regional trial co'..lnsel, 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. 

This year's conference featured a panel discussion with four judges, as well as a discussion with 

the Enforcement Division's Chief Trial Counsel and Chief Counsel on the impact of recent court 

decisions on enforcement cases. To help make the attorneys' approach to cases consistent 

nationwide, the conference also focused on procedures and considerations related to summary 

exhibits and witnesses at trial, effective cross-examinations, collections, am:: disgorgements, 

among other areas. 

1 Figures reported in whole dollars. 

2