The document outlines 5 requirements for moderating a successful panel discussion: 1) The moderator should facilitate the discussion and not dominate it with their own presentation; 2) The moderator must clearly state the topic to provide context for the audience; 3) The moderator needs to hold preparatory calls with the panelists to coordinate responses; 4) The moderator must craft clear and concise questions for the panelists in advance; 5) The moderator should prompt panelists to provide concise answers and summarize key points. The article provides examples of how the moderator of an affiliate marketing panel discussion failed at these tasks, resulting in an uninformative session.