<p><span>Thank you, Susan Olson, for that kind introduction. After graduating law school in 1995, I became an associate with the asset management practice of a law firm in Washington, D.C. The following spring, I remember the partners getting excited about the Investment Company Institute’s upcoming conference in Palm Desert, California. Since attendance was largely a “partners-only” affair, this conference carried a bit of mystique to the associates and as a native Southern Californian, this event was doubly intriguing to me. Thus, I was quite honored to be invited to speak with you here today and share some thoughts. My remarks reflect solely my individual views as a Commissioner and do not necessarily reflect the views of the full Commission or my fellow Commissioners.</span></p>