Additional program details will be posted as they become available.

*Subject to modification.

FRIDAY, September 28, 2006

8:00 a.m. - 8:45 a.m.

Registration and Continental Breakfast

Hosted by Corero Systems Limited

8:40 a.m. – 8:45 a.m.

Welcome and Introduction of Keynote Speaker

Michael Decker
Senior Managing Director
Head of Research and Public Policy
Securities Industry and Financial Markets Association

8:45 a.m. – 9:15 a.m.

Keynote Speaker:

Douglas Shulman
Vice Chairman
Financial Industry Regulatory Authority

9:15 a.m. – 12:00 p.m.

Morning General Session

Hosted by RIXML.org

9:15 a.m. - 10:30 a.m.

Research Regulation

Moderator:

John Ayanian
Partner
Morgan, Lewis & Bockius LLP

Panelists:

James Brigagliano
Associate Director
Office of Trading Practices
Division of Market Regulation
U.S Securities and Exchange Commission

William Jannace
Managing Director of Rule and Interpretive Standards
Member Regulation
Financial Industry Regulatory Authority

Philip Shaikun
Associate Vice President
Associate General Counsel
Financial Industry Regulatory Authority

Richard Sutcliffe
Head of Department
Institutional Business Policy
Financial Services Authority

10:30 a.m. – 10:45 a.m.

Morning Refreshment Break

Hosted by Investars

10:45 a.m. - 12:00 p.m.

New Trends in Research Products and Services

Moderator:

Roy M. Blumberg
Director of Research
Janney Montgomery Scott

Panelists:

Stephen Biggar
Director
U.S. Equity Research
Standard & Poor's

Terry Gardner, Jr.
President
S-2 Research, Inc.
Gardner Capital Advisors, Inc.

Gaurav Gupta
Executive Director
Dawnay Day AV Analytics Private Limited

Kei Kianpoor
Chief Executive Officer
Investars

12:00 p.m. – 1:30 p.m.

Luncheon

Luncheon Speaker

Eric P. Linder, CFA
President
SavaNet

Hosted by FactSet Research Systems

1:30 p.m. – 4:15 p.m.

Afternoon General Session

Hosted by Dawnay Day AV Analytics Private Limited

1:30 p.m. – 2:45 p.m.

Practical Issues for Research: Communications, Compensation and Conduct

Moderator:

Ray Abbott
General Counsel
Research
Merrill Lynch & Co., Inc.

Panelists:

John Curtis
Managing Director
General Counsel
The Goldman Sachs Group, Inc.

Paula Dominick
Managing Director
Global Research
Bank of America Securities LLC

Mark Egert
Managing Director
Chief Compliance Officer
Cowen & Co.

Yoon-Young Lee
Partner
Wilmer Cutler Pickering Hale and Dorr LLP

2:45 p.m. – 3:00 p.m.

Afternoon Refreshment Break

3:00 p.m. - 4:15 p.m.

Research Business Models

Moderator:

Aron Miodownik
President
Cambrian Associates

Panelists:

Tom Conigliaro
Managing Director
Goldman, Sachs & Co.

Anne N. Mathias, CFA
Director of Research, Policy Research
Stanford Group Company

Jon V. Rogers
Deputy Director
U.S. Equity Research
Citigroup

4:15 p.m.

Adjournment