Feedback from attendees indicates that the event was a resounding success. Even those already familiar with the subject admitted to gaining new insight.

After attendees mingled over breakfast, Moderator Wayne Jett opened the event. He introduced Patrick Byrne, CEO from Overstock.com. Patrick presented an animated slide show describing, in layman’s terms, how money can be transferred from individual investors without the reciprocal delivery of real stock shares. He was followed by Dr. Susanne Trimbath, CEO and Chief Economist of STP Advisory Services. Dr. Trimbath described how investors and companies can be damaged when short sales and stock lending are combined with trade settlement failures – the “Triumvirate of Trouble” – in the U.S. clearing and settlement system. The final speaker was Arne Alsin who received a rousing ovation for his stimulating, fresh perspective on the issues. Arne blamed the problems on the concentration of power in the broker-dealers and the lack of access to information for investors. He called for an even-handed, non-discriminatory enforcement of the rules plus greater disclosure of information to investors, especially information about settlement failures and stock lending in retail investors’ accounts.

After a short break, Wayne Jett moderated a discussion among the panelists followed by a Q&A session with the audience. The questions were so lively that virtually every attendee remained seated almost an hour after the advertised ending time of 11:00 am, while the session was extended. Questions ran the gamut from technical discussions of trading strategies and economic theories to strategies for financing entrepreneurial ventures in increasingly complex and dangerous capital markets.

Biographical information on the panelists, a complete schedule of the event activities and digital audio of the speakers’ presentations and discussions are available through the links below.