When IIS is started, LLAWP starts up but webagent log and trace file is not being created.
When you are configuring a Webagent, you are defining the path where it will log and trace information on its execution in the agent ACO : LogFileName and TraceFileName
Depending on the folder permission, the Webagent log and traces will not be created and will not log any activity.
By default SiteMinder module is defined globally.
The user used to start the LLAWP process depends on the application pool defined on the website/virtual directory that you are first accessing if the Siteminder module is defined globally. You should set the Permissions of the folder depending on the application pool User associated with the application.