Kauffman 

Date: 2017.12.21 

10:03:24 -05'00' 

MEMORANDUM 

Digitally signed by Caryn Caryn 

From: Caryn Kauffman Kauffman 

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

Subject: U.S. Securities and Exchange Commission’s (SEC) FY2017 Conference Report 

Date: December 21, 2017 

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) 2017. 

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. 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. In 

order 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. Once submitted by the division/office head, the request is reviewed by staff in the Office of 

Financial Management (OFM) to ensure the expenses are permissible and reasonable. OFM 

has implemented an automated system for the submission, review, and approval of all SEC 

conference requests. The system gives OFM the ability 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.115-31, Division E, 

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

correspondence. 

For FY 2017, the SEC authorized a total of $505,990 for expenditures related to 76 conferences 

(including training conferences) which used FY 2017 funding. 

Conferences over $100,000: 

In Fiscal Year 2017 the SEC authorized one conference costing greater than $100,000, which is described 

below: 

A. 2017 Chief Enforcement Conference (CEC), SEC headquarters, Washington DC, September 14-15, 

2017 

x Cost incurred: $114,018 

x Number of attendees: 203 attendees (195 SEC attendees and 8 non SEC attendees) 

1 
 

 

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. Because Enforcement Division personnel are dispersed among a dozen 

office locations around the country, the SEC convenes an annual meeting of senior Enforcement 

Division managers from headquarters and the agency’s 11 regional offices to ensure effective 

internal coordination among SEC offices in service of a unified and efficient national 

enforcement program. The 2017 Chief Enforcement Conference (CEC) was held at SEC 

headquarters in Washington, D.C. on September 14 and 15, 2017. 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 Chairman and 

participating Commissioners. 

2