Kelley Drye helps clients achieve their business objectives in the securities industry by guiding them through the ever-shifting landscape and handling their most complex corporate, regulatory enforcement and litigation matters. Kelley Drye operates a standalone broker-dealer practice that adapts to clients' needs and requirements.
The broker-dealer practice team operates from offices in New York, Connecticut, Washington, D.C., New Jersey and Illinois, which allows us to track and anticipate the trends in regulatory agencies' regional offices and in district courts and to transform this knowledge into actionable legal strategies.
The core of Kelley Drye's broker-dealer practice involves counseling and defending a range of clients, including national and regional brokerage firms, direct access and specialist firms, investment and financial advisors, transfer agents, options execution firms, and many other organizations and individuals who strive for success in the securities business.
The firm represents these clients in their dealings with examining authorities, through the entire spectrum of regulatory investigations, grand jury investigations, enforcement proceedings, arbitrations and courtroom challenges. Kelley Drye also advises clients regarding supervisory and sales practice issues, trading violations, internal investigations, mutual fund compensation issues,
and matters involving internet technology and electronic record retention. The broker-dealer practice team also has the experience and breadth necessary to provide interpretive advice for clients grappling with one-of-a-kind legal issues. This broad, first-hand experience provides ready corporate and business counselors, courtroom advocates and backroom guides,
with the range to play the discreet specialist for complex matters as well as the seasoned generalist for those needing General Counsel-like support.
Kelley Drye understands that the core regulatory and competitive issues facing broker-dealers are often surrounded by tangential legal complications that impact their leadership, financial strength, operations and reputation. Accordingly, the firm has assembled a team which integrates its significant broker-dealer experience with an array of complementary legal
capabilities in such areas as litigation, labor and employee benefits and executive compensation, white collar crime and internal investigations, advertising and government relations. This multidisciplinary approach allows Kelley Drye to quickly assess a client's challenges and formulate the most effective legal strategies to respond.
The following practice areas complement our core regulatory practice:
Litigation and Arbitration
Handling disputes involving regulatory issues, contract claims, unfair trade practices and unfair competition claims, franchise disputes, class action defense, and litigation involving real estate, environmental, products, bankruptcy, antitrust, employment and intellectual property.
Enforcement, White-collar Crime and Internal Investigations
Representing businesses, securities brokerages, and corporate executives in grand jury investigations, enforcement proceedings, internal investigations, congressional investigations and other contested matters. Recent examples of our work include representing a former New York Stock Exchange specialist in a SEC hearing involving allegations of stock
fraud relating to trading activity, a NYSE-listed corporation in a SEC investigation regarding allegations of insider trading and representing securities brokerage executives in grand jury investigations related to illegal transactions.
Labor and Employment
Counseling clients on strategies for avoiding litigation, defending lawsuits, and representing them before federal, state and local agencies. We are currently advising a large financial institution in legal matters involving traditional labor relations, wage and hour issues, employment contracts
and employment discrimination claims.
Employee Benefits and Executive Compensation
Advising clients on various forms of executive compensation, including accounting treatment and securities laws issues, as well as employment and severance agreements. We have advised several brokerage firms on sponsoring IRAs and prototype retirement plans, including the tax implications
associated with the operation and administration of such plans. We also represent many senior Wall Street executives and Wall Street firms in employment agreements and negotiations.
Advertising
Guiding clients' competitive strategies through a combination of experience: in advertising litigation and National Advertising Division proceedings; in the area of advertising, promotion marketing, and privacy law; and at the Federal Trade Commission, the offices of State Attorneys General
and the networks.
Government Relations and Public Policy
Helping clients achieve and maintain market leadership through strategies that encompass multiple forums, using law, economics, government relations and public relations, as needed. The firm's services range from strategic campaigns encompassing public relations and litigation, to regulatory
efforts, to legislative affairs management and advice on specific initiatives.
Technology and Licensing
Representing clients in drafting and negotiating technology license and service agreements, stock clearing agreements, direct access agreements, and reporting agent transmission agreements. Additionally, the firm regularly represents clients, including brokerage firms, investment advisors and
banks, in arrangements involving the outsourcing of their IT functions and business processes to third-party service providers.
Broker-Dealer Practice Group Biographies
Paul McCurdy is the Chair of the Broker-Dealer practice group. His practice focuses on counseling firms in regulatory, compliance, litigation and corporate matters. Paul represents clients in internal investigations, enforcement proceedings and contested matters
ranging from clearing and partnership disputes to customer complaints. He has represented and defended witnesses in regulatory maters in more than 100 on-the-record interviews. Paul serves as an arbitrator for FINRA and is a guest panelist for The Compliance Reporter. Paul is ranked nationally in
the Financial Services - Broker Dealer Regulation arena by Chambers USA: America's Leading Lawyers for Business 2008.
M. Ridgway Barker counsels securities and investment advisory firms on regulatory and compliance matters as well as on corporate structure, corporate governance and financing matters. He is Chair of Kelley Drye's Corporate Finance and Securities practice group.
Joseph A. Boyle represents broker-dealers and other financial services firms in adversarial proceedings and has substantial first chair and appellate litigation experience. He handles arbitrations, unfair competition litigations, investigations and trials.
Brian J. Calvey represents broker-dealers and specialist firms in connection with mergers and acquisitions transactions, organizational issues, operating agreements, shareholders agreements and on a variety of other corporate issues. He has nearly 30 years of experience
in corporate and securities law, advising clients ranging from privately held entities to Fortune 500 companies. Brian has a broad background in mergers and acquisitions, strategic alliances, corporate finance, corporate governance issues and a wide range of commercial agreements.
Richard S. Chargar counsels banks and brokerage firms on sponsoring IRAs and prototype retirement plans, including the legal and tax implications associated with the operation and administration of such plans. He represents clients on all aspects of executive compensation,
including deferred compensation, supplemental executive retirement plans, equity-based compensation, and employment and severance agreements. Richard advises clients on design implementation and administration of qualified retirement plans and welfare plans and on fiduciary and plan asset issues. He also advises
on the employee benefits aspects of mergers and acquisitions. Richard is Co-Chair of Kelley Drye’s Employee Benefits and Executive Compensation practice group.
Mark S. Gregory represents businesses, corporate executives and brokers in a wide variety of federal securities law, shareholder derivative claims, and customer and industry arbitration matters. He has substantial first chair experience in litigating matters to verdict or award.
David H. Laufman conducts internal corporate investigations and represents individuals and corporations which are the subject of investigations by congressional oversight committees and Offices of Inspector General. He also counsels corporations concerning compliance with applicable regulatory and criminal laws,
including the Foreign Corrupt Practices Act, export control and economic sanctions laws, the USA PATRIOT Act, money laundering statutes and the Sarbanes-Oxley Act. Before joining the firm, David served as Assistant United States Attorney for the Eastern District of Virginia and as Chief of Staff to the Deputy Attorney General of the United States.
Timothy R. Lavender represents investment advisors and money managers in all aspects of their business, including applicable SEC and state registration issues, regulatory compliance, anti-money laundering, fee structures, customer accounts, advertising and solicitation issues. He represents a number of private investment,
hedge and private equity funds in their formation, operation and exemption from registration. Tim has extensive experience representing broker-dealers and their related companies in their general corporate needs, as well as mergers and acquisitions.
James E. Nealon focuses his practice on commercial litigation, including representing financial institutions and broker-dealers in the securities industry in employment matters, customer disputes, regulatory investigations and enforcement proceedings. He has served as first chair litigation counsel for many firm clients.
Jean Y. Park represents employers in the financial services and banking industries in all aspects of employment law issues. Jean provides training to employees of broker-dealers on compliance with anti-harassment and discrimination policies, and regularly represents employers in workplace investigations.
Jay R. Schifferli advises investment advisors regarding all aspects of their business, including SEC and state registration issues, regulatory compliance, anti-money laundering, fee structures, customer accounts, advertising and solicitation issues. Jay also advises money managers and investors regarding alternative
investment vehicles, including hedge funds, private equity funds and separate managed accounts. In addition, he has extensive experience advising broker-dealers with respect to commercial contracts, as well as mergers and acquisitions.
Julian Solotorovsky represents NYSE specialists, broker-dealers and corporate executives in internal investigations, grand jury investigations, enforcement proceedings and other contested matters. He is a veteran of over 40 jury trials. Julian is Chair of Kelley Drye's White Collar Crime and Investigations practice group.
Prior to joining the firm, Julian was an Assistant United States Attorney in the Northern District of Illinois and was Deputy Chief of the Special Prosecutors Division.
Merrill B. Stone focuses on corporate and securities law, and he has spent more than 30 years representing banks, transfer agents, financial institutions and other entities in transactional, licensing and regulatory matters. He regularly represents several foreign trust companies in connection with matters relating
to U.S. transfer agent and broker-dealer activities. He also advises transfer agents on securities law and compliance matters. Merrill is Chair of Kelley Drye's Financial Institutions practice group.
Evan Barnes has experience as a manager at several major investment banks and as a compliance officer handling sales and trading and floor brokerage related issues. He joined the firm from Morgan Stanley & Co. Incorporated, where he managed the group responsible for responding to regulatory inquiries. Prior to this,
Evan managed the regulatory inquires group at Banc of America Securities LLC and was a Vice President in Citigroup Global Markets' compliance department, where he handled institutional sales and trading and floor related issues. Evan also has several years of experience with the Enforcement Division of the NYSE.
James M. Moriarty advises and represents broker-dealers in trading disputes, clearing firm responsibility issues, personnel-related matters, including raiding cases, and other litigation and arbitration matters. Jim has extensive first chair trial and arbitration experience on a wide range of cases for our broker-dealer clients.
Deepak Nambiar focuses on corporate law, mergers and acquisitions and technology licensing transactions. He routinely counsels clients in drafting and negotiating technology license and outsourcing agreements, stock clearing agreements, direct access agreements, and reporting agent transmission agreements.
For further information about Kelley Drye's Broker-Dealer practice group, please contact:
Paul F. McCurdy
(203) 351-8039
pmccurdy@kelleydrye.com
|
