THE FOURTH ANNUAL ALBERT A. DESTEFANO LECTURE ON CORPORATE, SECURITIES & FINANCIAL LAW/PANEL DISCUSSION: CRISIS IN CONFIDENCE-SELF-REGULATION IN THE SECURITIES INDUSTRY[dagger]
Peloso, John F. X., Fordham Journal of Corporate & Financial Law
Partner, Wilmer Cutler Pickering Hale and Dorr LLP
Deputy Director, Division of Market Regulation, Securities and Exchange Commission
Richard G. Ketchum
Chief Regulatory Officer, New York Stock Exchange, Inc.
Marc E. Lackritz
President, Securities Industry Association
Annette L. Nazareth**
Director, Division of Market Regulation, Securities and Exchange Commission
Mary L. Schapiro
Vice Chairman, National Association of Securities Dealers, Inc.
WELCOME & INTRODUCTION
DEAN TREANOR:1 Good evening, everyone. I am Bill Treanor, the Dean of Fordham Law School, and it is my pleasure to welcome you to the Fourth Annual Albert A. DeStefano Lecture, which is entitled "Crisis in Confidence-Self-Regulation in the Securities Industry."
I thank our distinguished panelists for graciously being with us tonight and for sharing their expertise and insight.
I especially thank Becker Ross Stone DeStefano & Klein for establishing this lecture series honoring Albert A. DeStefano, a prominent alumnus of the Law School who is currently Of Counsel to the firm, and for the support which they have given to our Center for Corporate, Securities and Financial Law (the "Center"). Our faculty and students, as well as members of the community at large, all benefit from the firm's generosity.
In these times in which continual controversies and new developments have pushed the issues of corporate law and corporate governance to the forefront of debates throughout the country, the Law School is particularly proud to have established the Center. The Center allows the Law School to capitalize on its strengths in the business law area. Our business law faculty is comprised both of well-known scholars and prominent practitioners. Our students are enthusiastic about business law and many of them will form the next generation of business law leaders. Our current law alumni include many leaders in the business community. And of course we are located in New York City, the financial capital of the world.
Tonight's DeStefano Lecture is an important component of the work of the Center, which is designed to provide a forum for dialogue on policy issues and business law. In addition to the DeStefano program, the Center offers a second annual public lecture, the A.A. Sommer Lecture, which is typically given in the fall. This year's lecture was delivered by The Honorable William McDonough, Chairman of the Public Company Accounting Oversight Board.2
In addition to our public lectures, the Center hosts private roundtable discussions. Last fall, the Center sponsored a roundtable discussion on "The Role of the Corporate Attorney After Enron and the Sarbanes-Oxley Act,"3 a discussion that was held just after the SEC released its proposed rules regarding attorney conduct.4
In the spring the Corporate Center sponsored a roundtable that considered "The Continued Role of Self-Regulation in the Securities Industry,"5 a roundtable that inspired tonight's program. Just last week, the Center sponsored a roundtable on "Directors' Evolving Duty of Public Faith and the Role of Ethics in the Board Room."6
The Center also hosts the bi-annual Eugene P. and Delia S. Murphy Conference on Corporate Law. Our most recent conference, which was held this past November, was entitled "Recent Developments in Corporate Law,"7 and featured leading scholars from across the country presenting current work on cutting-edge issues in business law.
Within the Law School, the Center works closely with the Fordham Journal of Corporate & Financial Law, which is one of the few student-run journals specializing in business law. The Journal publishes transcripts of many of the Center's public programs. The most recent issue, which is available this evening, contains the proceedings from last year's DeStefano Lecture. …