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Our Speakers

NRS are delighted to announce our speaker line-up below. Please click on each speaker name for biography details where available.

Biographies 

 

Karen M. Aavik, First Vice President, Assistant General Counsel, First Niagara Financial Group

KAREN AAVIK is Assistant General Counsel at First Niagara, supporting investment and bank-side business units by identifying and analyzing applicable laws/regulations and assisting in the development of policies/procedures. She previously served as the FNFG SVP/Commercial, Investments and Corporate Compliance Officer and Privacy and Ethics Officer. Ms. Aavik holds a J.D., LL.M., and M.B.A. from SUNY at Buffalo, and is a member of the NYS Bar. She is Series 4, 7, 24, 53, 63, and 65 licensed; is NYS LAH licensed; and has earned NRS IACCP® and CIPP/US, CIPP/IT, and CIPP/E designations.


 

Luanne Borowski, RIA Chief Compliance Officer, First Allied Securities

LUANNE BOROWSKI is Chief Compliance Officer of First Allied Advisory Services, Inc., First Allied Asset Management, Inc., and First Allied Securities, Inc’s registered investment adviser. First Allied Securities, Inc., member Finra/SIPC, was founded in 1994 as a privately held company with a vision of providing independent financial advisors with cutting-edge technology, innovative products, and superior service. Approaching 1,000 financial advisors in 500 branches across the United States, First Allied is fast becoming recognized as a premier broker/dealer and registered investment adviser for successful, high-producing independent financial advisors.

Luanne began her career in compliance in 1996 and has held positions as the CCO of a broker/dealer, a dual registrant, and a registered investment adviser. She holds the Series 7, 24, 65 and 53 securities licenses and is an Investment Adviser Certified Compliance Professionalism (IACCPsm). 


 

Luke T. Cadigan, Partner, K&L Gates

LUKE CADIGAN is a partner in the Government Enforcement Group of K&L Gates LLP (Boston office). An experienced trial attorney, he concentrates his practice on securities enforcement matters, internal investigations, regulatory compliance, and related litigation. Prior to joining K&L Gates, Mr. Cadigan was a Senior Trial Counsel and an Assistant Director in the SEC’s Enforcement Division.

 

 

 


 

Bill Cavell, Executive Consultant, NRS

BILL CAVELL joined NRS in 1995 and is an Executive Consultant of NRS Investment Adviser Services Division.

For over 15 years, Bill has been conducting mock investment adviser examinations for both small and large advisory firms, independently or as a result of an SEC requirement. In addition, Bill consults with NRS clients on such topics as due diligence reviews, hedge fund due diligence engagements, Form ADV reviews, trading issues and Investment Advisers Act matters, SEC requirements and industry best practices.

Since 1995, Bill has contributed to the introduction and ongoing support of NRS products such as NRS Online Policies and Procedures Manual, Compliance in a Box® and NRS ComplianceEssentials. Drawing upon his legal and administrative experience in the investment advisory and broker-dealer industry, Bill continues to be a primary contributor and speaker for NRS Conferences, the IACCP Program and Desktop Seminar series and other industry conferences and seminars. He has also been called upon regularly to contribute articles to various industry publications.

Prior to joining the firm, Bill was First Vice President and Associate General Counsel of Mitchell Hutchins Asset Management Inc., the investment advisory and broker-dealer subsidiary of PaineWebber Incorporated, now UBS. During his employment with Mitchell Hutchins from 1987 to 1995, he provided legal and advisory support to the private account advisory division and the institutional investment advisory subsidiary, Mitchell Hutchins Institutional Investors Inc. From 1978 to 1987, Bill was Vice President, PaineWebber Incorporated and, as an attorney in the Legal Department, represented the firm in industry arbitrations and litigation and provided legal and advisory support to many areas of the firm. From 1974 to 1978, Bill was Assistant Arbitration Director of the New York Stock Exchange, and prior to The Exchange, he was employed from 1969 to 1974 as a Special Agent of the Federal Bureau of Investigation.

Bill is a member of the Michigan and New York bar associations and received his law degree from the Detroit College of Law. He received a Bachelor of Arts degree in Humanities from Michigan State University. During his prior employment, he maintained various industry registrations including Series 3, 7, 8, 24, 63 and 65 exams.


 

John Cooney, Chief Compliance Officer, Essex National Securities

JOHN COONEY serves as Chief Compliance Officer of Essex National Securities, LLC (ENSI), which provides retail brokerage services to financial institutions. John’s primary responsibilities include oversight of compliance, supervision, and operations of the broker/dealer and investment advisor. John serves as a member of ENSI’s Executive Management Team. He has over 30 years of investment operations and compliance experience. Prior to joining ENSI in 1993, John spent 9 years at Transamerica Financial Resources, a broker dealer distributing securities through Transamerica’s insurance agents. At Transamerica, he occupied positions in marketing, operations, and compliance. John began his career in financial services in 1982, working in the marketing department of a limited partnership syndicator.


 

Rick Cortese, Vice President, Educational Services, NRS

RICK CORTESE is Vice President, Education Services at National Regulatory Services (NRS). He joined NRS in 1999. His responsibilities include providing consulting services to the firm's clients on investment adviser, investment company, insurance, anti-money laundering and broker-dealer regulatory matters, acting as a regulatory liaison, and contributing to corporate development.

Prior to joining NRS, he was Deputy Commissioner in charge of the Securities Division of the Vermont Department of Banking, Insurance and Securities, the state agency responsible for oversight of the securities laws in Vermont.

While serving as Vermont’s securities administrator, Richard was Treasurer and an elected Board member of the North American Securities Administrators Association ("NASAA"). He also chaired or co-chaired NASAA Working Groups that oversaw the implementation of model state laws to implement the National Securities Markets Improvement Act of 1996, the development of the Investment Adviser Registration Depository (IARD), and the creation of the Series 65 and 66 investment adviser competency exams.

In 1999, he was invited to serve as a member of the IARD Implementation Advisory Council, which assisted with the development and implementation of the new investment adviser database.

Richard is a member of the bar in Florida and Vermont and formerly served as an administrative law judge for the State of Florida. He has been a frequent speaker and panelist on regulatory and compliance issues at industry conferences and continuing education seminars. He has also written extensively on compliance topics for industry publications and has been quoted in such publications as the New York Times, the Wall Street Journal, Money, Smart Money, among others. He recently was asked to join the Editorial Board of the Journal of Securities Law, Regulation & Compliance.


 

Mederic Daigneault, Director, Hedge Fund Services, NRS

MEDERIC DAIGNEAULT is Director of Hedge Fund Services at NRS. Mederic works closely with firm officers to identify their firm’s regulatory obligations, unique conflicts of interest and other risks to assist in the development, implementation and testing of a comprehensive compliance program tailored to the firm’s practice. Mederic conducts on-site mock SEC examinations and compliance reviews of advisers of various sizes from ultra-large investment managers with global operations or intricate hedge fund complexes to smaller yet sophisticated firms with a handful of staff. Areas reviewed include, as applicable, the latest developments and “hot topics” in compliance regulation: risk assessments, annual reviews, code of ethics and personal trading, third-party due diligence, valuation, soft dollars, best execution, side-by-side management issues, business continuity planning and other areas.

During his time at NRS, Mederic has drafted or revised Forms ADV for hundreds of investment adviser firms at both the state and federal level including scores of hedge fund and private equity fund managers. He has guided scores of private fund managers through the process of SEC registration and compliance program development and implementation. Mederic is a frequent speaker at NRS and industry conferences as well as topical live and desktop seminars sponsored by Pershing, Sungard Systems, the Alternative Asset Summit, Infovest21, the Connecticut Department of Banking, the California Hedge Fund Association, Financial Research Associates, LLC, the Hedge Fund Business Operations Association and others. He is also an expert lecturer in the IA Certified Compliance Professional Program (IACCP) co-sponsored by NRS and the Investment Adviser Association (IAA). Mederic contributes to and/or has been sought for comment by leading industry publications, including, among others, The Hedge Fund Law Report and Financial Planning Magazine, on various compliance topics.


 

Jerry Danielson, AVP - Audit Director, Lincoln Financial Group

JERRY C. DANIELSON is Director of Compliance Audit with the Lincoln Financial Group. His duties include overseeing audits of compliance on an enterprise-wide basis and include topics within securities laws and regulations as well as other subject matters. Mr. Danielson was the Chief Compliance Officer for Lincoln National Corp. from 1989 - 1996. Previously, Mr. Danielson was employed in various legal and compliance roles in the financial services industry since 1978, including the Board of Directors of the National Society of Compliance Professionals (1991 to 1994 and 2001 - 2004), various American Council of Life Insurer’s sub-committees, past President of the Fort Wayne Chapter of the Institute of Internal Auditors as well as Board member, member of the Editorial Board of Practical Compliance & Risk Management for the Securities Industry and member of the Audit Committee for the City of Fort Wayne, Indiana.


 

Ida Wurczinger Draim, Partner, Schulte Roth & Zabel

IDA WURCZINGER DRAIM is a partner in the Washington, D.C. office of Schulte Roth & Zabel, a New York-based law firm that is renowned for its representation of the hedge fund industry. Ida’s practice focuses on SEC and CFTC regulatory and compliance counseling for fund managers, other types of investment advisers and broker-dealers. She also represents such clients in SEC and CFTC examinations, investigations and proceedings. One of Ida’s strengths is that she has experienced the regulatory world from both sides of the aisle. After several years as a securities litigation associate with a Wall Street law firm, Ida joined the SEC, first serving as staff attorney in the Division of Enforcement, where she earned a Special Achievement award, then as Special Counsel to SEC Chairman John Shad. Ida is a panelist and member of the Securities Industry and Financial Markets Association (SIFMA) Legal and Compliance Division and a former Chair of the Corporation, Finance and Securities Law Section of the District of Columbia Bar. Ida received her J.D. from Harvard Law School and her B.A., cum laude, from Rutgers University. She has been recognized by The Best Lawyers in America in the area of securities law.


 

Jonathan I. Ezor, Of Counsel, Olshan Frome Wolosky

JONATHAN I. EZOR is the Director of the Touro Law Center for Innovation in Business, Law and Technology, and an Assistant Professor of Law. He also serves as Counsel to Olshan Frome Wolosky, a full service business law firm based in Manhattan, on the Board of Directors of CALI (the Center for Computer-Aided Legal instruction), and on the IT Advisory Board for the Zarb School of Business at Hofstra University. A technology attorney for more than eighteen years, Professor Ezor has represented advertising agencies, software developers, banks, retailers and Internet service providers as well as traditional firms, and has been in-house counsel to an online retailer, an Internet-based document printing firm and a multinational Web and software development company. He was also named one of Long Island Business News’ “Top 40 Under 40” for 2005, and served as the Reporter for the New York State Bar Association E-Filing Task Force.

Author of Privacy and Data Protection in Business: Laws and Practices (LexisNexis 2012), the free e-book Shooting From the Hip: Managing the Risks of Portable Computing and Smartphones in Your Business (available at http://www.mobilerisk.com) and the Internet law handbook Clicking Through: A Survival Guide for Bringing Your Company Online (Bloomberg Press, 2000) (http://www.clickingthrough.com), and coauthor of Producing Web Hits (IDG Books, 1997), Professor Ezor has been a guest columnist on legal issues for BusinessWeek Online and a regular contributor to technology and business blogs. He has also written for Business 2.0, Advertising Age (which named him a "Web Warrior" in 1995), Law Technology News, the New York Law Journal, and many other publications. Professor Ezor is a graduate of Brandeis University (Magna Cum Laude; Phi Beta Kappa) and Yale Law School. He teaches courses including Cyberlaw, Cybercrime, Licensing Intellectual Property, International Intellectual Property, Privacy in the Digital Age, Negotiable Instruments and Payment Systems, and the Business Technology Law Externship, and established and directed Touro’s first summer law school program in Jerusalem, Israel in 2008.


 

Diana J. Foley, Securities Administrator, Securities Division, Nevada Secretary of State

DIANA J. FOLEY, Esq., was appointed Securities Administrator in December 2011. She oversees the Securities Division of the Secretary of State’s office and is the Chief Regulator of the securities industry in Nevada. The Securities Division pursues both criminal and civil penalties for violations of Nevada’s securities law, and licenses firms and individuals engaged in the sale of securities, including those who provide investment advice for compensation.

 


 

Sharon Gaare, Chief Compliance Officer, Capital Investment Counsel

SHARON GAARE has a Bachelor of Arts degree from Metro University in Denver Colorado. She has over 19 years of experience working in the Investment Adviser Industry. Most of Sharon's experience is with the small adviser where she served as Administrator, Operations Manager, and Chief Compliance Officer. Sharon currently serves as the Chief Compliance Officer of Capital Investment Counsel, a firm with $2 billion in assets. Sharon's 19 years of experience includes Chief Financial Officer, Chief Compliance Officer, mergers and acquisitions, and participated as the lead person in two SEC audits.


 

John Gebauer, Managing Director, NRS

John joined NRS in 1992 to establish a software development division at NRS dedicated to providing automated solutions for the financial services industry. Under his guidance, NRS has developed and marketed many software programs including E-Z Registration software, Registration Management System, ComplyNet, IA-Info, and the NRS Regulatory Databases.

Prior to coming to NRS, John was a Senior Systems Engineer at Mycroft, Inc., and a Systems Engineer for the Grumman Corporation. While at Grumman, John specialized in managing the requirements development process of large-scale military space satellites. He also oversaw the development of algorithms used to determine the inertial effects of multi-dimensional movement of objects in space.

John received his Bachelor of Science degree from Columbia University in 1986 and completed graduate studies in Systems Engineering at Polytechnic Institute.


   

Kevin Goodman, Acting Co-Regional Director, U.S. Securities and Exchange Commission, Denver Regional Office

KEVIN W. GOODMAN serves as Associate Regional Director of the SEC’s Denver Regional Office, where he manages the Regulation program. Mr. Goodman joined the SEC staff in Los Angeles in 1992 as an Attorney-Adviser, and later served as Branch Chief, Senior Special Counsel, and Assistant Director, all with the Investment Adviser/Investment Company examination program.

Mr. Goodman graduated from Purdue University in 1982 with a degree in accounting and received his law degree from Indiana University in 1985. Prior to joining the staff, Mr. Goodman practiced corporate and securities law in the private sector with an emphasis on mergers and acquisitions.


 

Darien Gould, Marketing Consultant, DG Analytics

DARIEN GOULD, founded DG Analytics, Inc. to personally assist select investment management firms with a variety of back office functions including marketing and compliance.

With almost two decades in the industry and experience at Alpine Partners, Inc., a premier third party marketing firm, Darien has worked with many money management firms of all sizes, and various types of products.

DG Analytics values long-term relationships with clients, providing marketing, compliance and business solutions tailored to client needs. We employ strategic partnerships to offer resources not normally available through smaller firms.

Darien has written articles of interest to investment management firms and other marketers, and speaks at conferences on a variety of marketing, compliance and management topics. She has participated in panel discussions and made presentations at the Third Party Marketers Association conferences, Investment Managers Summit on Mastering RFP’s and Consultant Databases and NRS Compliance Conferences. Darien has also been a member of PAICR (Professional Association for Investment Communications Resources) since 2000.


   

David Greene, Director, FINRA

DAVID GREENE is the Director of FINRA Los Angeles - District 2 - Member Regulation Sales Practice. He served in the same role at NASD before its 2007 consolidation with NYSE Member Regulation, which resulted in the formation of FINRA. In his capacity as District Director, Mr. Greene oversees the sales practice oversight process of FINRA regulated securities firms based in District 2, as well as their employees, with responsibility for ongoing surveillance, examinations and investigations. In January 2000, Mr. Greene joined FINRA (then NASD) as a regional counsel for FINRA’s Enforcement Department, and was based in the Los Angeles District Office. For two and a half years preceding his appointment as Director, Mr. Greene served as the Deputy Regional Chief Counsel, FINRA Enforcement Western Region, where his responsibilities included managing Enforcement attorneys in FINRA district offices of Los Angeles, San Francisco, Denver and Seattle, developing and overseeing FINRA’s national non-summary proceedings programs, as well as his own Enforcement docket. Among the significant cases Mr. Greene handled were those involving mutual fund share classes, gifts and gratuities, market timing, brokered certificates of deposit, sales practice violations, and operational compliance issues.

Prior to joining FINRA, Mr. Greene was associated with a law firm in Los Angeles for 10 years. Mr. Greene received his undergraduate degree from Pepperdine University and his Juris Doctorate from Southwestern University School of Law. Mr. Greene is licensed to practice law in California, and is admitted to practice before various federal courts. He is an Executive Committee Liaison of the Los Angeles County Bar Association Business & Corporations Law Section and is frequently a speaker at securities industry events. Mr. Greene is also designated as a Certified Regulatory and Compliance Professional (CRCP) through the FINRA Institute at Wharton.


 

Rivers Herrington, SVP/Director of Audit Programs, Audit Department, First Allied

RIVERS HERRINGTON is Senior Vice President and Director of Audit Programs for First Allied Securities, Inc. First Allied Securities, Inc., member FINRA/SIPC, was founded in 1994 as a privately held company with a vision of providing independent financial advisors with cutting-edge technology, innovative products and superior service. With nearly 1,000 financial advisors and 500 branches throughout the United States, First Allied is fast becoming recognized as one of the premier broker/dealers for successful independent financial advisors. As a fourteen year industry veteran, Rivers has held various senior positions in trading, supervision, compliance and audit. In his current role, he manages First Allied’s branch audit, internal audit, and vendor risk programs as well as overseeing the firms regulatory audit coordination and response efforts.


 

Jennifer L. Klass, Partner, Morgan, Lewis & Bockius

JENNIFER L. KLASS is a Partner in Morgan Lewis's Investment Management and Securities Industry Practice. Ms. Klass advises investment managers and broker-dealers on a broad range of regulatory matters.

Ms. Klass has counseled compliance and business personnel on legal and regulatory matters associated with high-net-worth brokerage and asset management business, including SEC examinations and self-regulatory organization sweeps; wrap fee and other separately managed account programs; electronic delivery and online brokerage services; private banking; new products; account opening and the application of broker-dealer and investment adviser registration to non-U.S. affiliates.

Prior to joining Morgan Lewis, Ms. Klass was Vice President and Associate General Counsel at Goldman, Sachs & Co., where she advised the private wealth management and asset management business. She previously served as an Investment Management associate in the Washington, D.C. office of Morgan Lewis.

Ms. Klass received her J.D. from Widener University School of Law in 1997 and her B.A. from Lehigh University in 1992.

Ms. Klass is admitted to practice in New York, the District of Columbia, and Pennsylvania.


 

David H. Lui, Chief Compliance Officer & Principal, Galliard Capital Management

DAVID LUI is Chief Compliance Officer & Principal at Galliard Capital Management, a wholly-owned subsidiary of Wells Fargo with over $85 billion in assets under management in Minneapolis.

Prior to joining Galliard, David was the Chief Compliance Officer of U.S. Bancorp Asset Management and Franklin Advisers and Chief Compliance Counsel for Charles Schwab in San Francisco.

David earned his B.A. in history from Brown University in Providence, Rhode Island, and a J.D. from the University of California, Hastings College of Law, in San Francisco. He has been admitted to practice law in both California and Minnesota.
He is a past Chairman of the Board of Directors of the National Society of Compliance Professionals and is a nationally-recognized speaker on compliance issues. David has more than 25 years of experience in compliance and investment company law.


 

Barbara Brooke Manning, Mgr. Dir., General Counsel & CCO, ClearBridge Advisors

BARBARA BROOKE MANNING is Managing Director, General Counsel & Chief Compliance Officer for ClearBridge Investments, which consists of the active equity platform of the legacy investment advisers purchased by Legg Mason, Inc. from Citigroup Inc. She is also Managing Director and Chief Compliance Officer of Legg Mason Private Portfolio Group, LLC and Managing Director, General Counsel & Chief Compliance Officer of Legg Mason Capital Management, LLC. She is a frequent speaker on regulatory issues. Prior to the Legg Mason purchase, she was Deputy Director of Compliance for North America at Citigroup Asset Management. Before joining Citigroup, she was the Chief Compliance Officer of Schroder Investment Management North America Inc., its London-based affiliate, Schroder Investment Management North America Limited and the Schroder mutual funds, and she was in the Asset Management Regulatory Consulting Group at Ernst & Young LLP. She has practiced law at Rosenman & Colin LLP, where she was Special Counsel, and at Kramer, Levin, Naftalis & Frankel. Before entering private practice, she was Assistant Regional Administrator, ’40 Acts Enforcement & Legal Counsel, in the SEC’s New York office. She received her J.D. with distinction from Hofstra University School of Law in 1979.


 

Ish Manzanares, Director, Consulting, NRS

Ish joined NRS in 2010 and is located in their San Diego office. 
He specializes in both Broker-Dealer and RIA consulting. While at NRS, he has conducted dozens of AML, 206(4)-7 reviews and BD compliance examinations.

Prior to joining NRS he was the President of Manzanares Compliance Solutions, an independently owned consulting firm. Preceding his consulting career, Ish was Director of Compliance with Prudential Retirement. In addition, Ish was the President and CEO of Madison Avenue Securities, a full service broker-dealer and advisor located in San Diego. Earlier in his career, Ish served as President of Foresters Equity Services, a San Diego based broker-dealer. Prior to being appointed as President at Foresters, he served as Chief Compliance Officer.

He has over 20 years of experience in the financial services industry, including a position with FINRA as a Senior Examiner in Los Angeles. He is held in high regard at FINRA and well respected by his peers in the industry. He served on the Western Region District Committee-District 2, has served as committee member of the National Association of Independent Broker/Dealers-NAIBD and the Southern California Compliance Group-SCCG.

During his career, Ish has been a guest speaker at various FINRA, NRS and NAIBD conferences and special programs, and an instructor at the FINRA Institute for the Wharton Certificate Program.

Ish holds a B.A. in psychology from Columbia University and maintained his series 4, 7, 24, 63. 


 

Michael W. McGrath, Of Counsel, K&L Gates 

MICHAEL MCGRATH is of counsel in the firm’s Boston office. He practices in the area of investment management and securities law, and focuses on counseling institutional investment firms, private fund managers, commodity pool operators, and broker-dealers in connection with regulatory aspects of their U.S. and global operations, particularly relating to SEC, CFTC, and FINRA regulation. He also advises clients with respect to the structuring, operation, and offering of mutual funds, hedge funds, and private equity funds.

 

 


 

Lee McPheters, Research Professor and Director, JPMorgan Chase Economic Outlook Center, W. P. Carey School of Business, Arizona State University

LEE MCPHETERS is Research Professor of Economics and Director of the JPMorgan Chase Economic Outlook Center in the W. P. Carey School of Business at Arizona State University.

Dr. McPheters has published numerous research studies emphasizing issues in regional economic development. His writings on the economy have been quoted in the Wall Street Journal, USA Today, The Economist, Business Week, The New York Times, and the Huffington Post and he has appeared nationally on Good Morning America, CNN, Fox News, and Marketplace on NPR, commenting on the economic outlook. During the 2012 presidential campaign, his “Job Growth USA” web site was often used by fact checking organizations (including PolitiFact) to verify claims about job creation made by candidates.


 

Mark Meaney, Faculty Director, Leading with Ethics and Compliance Program, Haas School of Business, University of California, Berkeley

MARK E. MEANEY, Ph.D., CCEP, has garnered an international reputation as an ethics and compliance professional with more than fifteen years of experience in program development and implementation. His experience covers a wide array of industries including healthcare, higher education, global engineering and construction, government contractors, transportation services, and non-profits. Currently, he serves as a Faculty Director with the Haas School of Business, University of California at Berkeley, for Haas’ ‘Leading with Ethics and Compliance’ program.

As Systemwide Director of Ethics and Compliance with the Office of President, University of California (UCOP), Dr. Meaney facilitated in the development and implementation of a systemwide ethics and compliance program for the UC’s 10 campuses, 5 Academic Medical Centers, the Lawrence Berkeley National Laboratory and UC Office of the President departments in assuring compliance with applicable ethical standards, and the full continuum of local, state and federal rules and regulations governing higher education.

Prior to his appointment at UCOP, Dr. Meaney held a political appointment with the Daley Administration in the City of Chicago as Chief Compliance Operations Officer and First Deputy Director of the Office of Compliance with responsibility for the creation of the first corporate-style ethics and compliance program for a municipality.

His previous academic appointments include the Legal Studies Department at the Wharton School, University of Pennsylvania, where he taught Corporate Responsibility and Business Ethics. His numerous publications include a book on professional development entitled Guide to Professional Development in Compliance.


 

Michael Megaw, Global Head of Regulatory Solutions, SS&C Fund Services

MICHAEL MEGAW has worked with SS&C Technologies Inc. since 2004. He is current-ly the Global Head of Regulatory Solutions for the firm. Most recently he headed SS&C’s launch of its Form PF software and service solution, allowing clients to easily meet the deadlines and manage the complexities of Form PF. Michael’s role also extends to managing part of SS&C’s fund administration business, helping it grow into one of the top five fund administration businesses in the world.

Prior to joining SS&C, Michael worked in the assurance business of Eisner-Amper, (for-merly Eisner LLP). Michael graduated from Franklin and Marshall College and holds his MBA from New York University Stern School of Business.


 

Max Mejiborsky, Senior Consultant, NRS

MAX MEJIBORSKY joined NRS in 2007 as a Consultant in the Investment Adviser Services Department and is based in our Massachusetts branch office. Max assists our investment advisory clients with the preparation and filing of their initial SEC and state registration documents and amendment filings, provides consulting services on a wide variety of regulatory and compliance issues regarding the Investment Advisers Act and state regulations and conducts on-site client compliance reviews. In the last few years, Max has worked closely with private fund advisers, including hedge funds, funds of funds, and private equity funds, assisting them with initial registrations with the SEC, design and implementation of fund-specific policies and procedures, compliance and operational risk assessment and testing.

Max earned his Juris Doctor degree Cum Laude from Boston College Law School in 2002. He is a member of the State Bar of Massachusetts. After the first year of law school, Max spent his summer working as a litigation associate for the City of Waltham Legal Department in Waltham, Massachusetts. Subsequently, Max was a summer associate at Choate, Hall & Stewart, a law firm in Boston, Massachusetts.

After graduating from law school, Max accepted a corporate associate position with Choate Hall. During his tenure at Choate Hall, Max specialized in secured financing transactions, mergers and acquisitions, and bankruptcy litigation.

Max has also worked in the area of insurance litigation, specializing in automobile and homeowners negligence and subrogation claims.
Max received his Bachelor of Arts degree Summa Cum Laude, graduating Phi Beta Kappa from Tufts University with majors in International Relations and Eastern European Studies.


 

Marilyn Miles,   Vice President, Consulting, NRS

MARILYN MILES joined NRS in 1994 as a Consultant. In 1999, Marilyn became a Senior Consultant; in 2007 she was named VP of NRS Investment Adviser Services; and in 2013, Marilyn was named VP of NRS Consulting. In this capacity, Marilyn manages the firm’s consulting services department, overseeing the hiring, training and overall performance of the consulting team.
Marilyn has prepared and/or reviewed hundreds of ADVs representing firms of all sizes and engaged in every aspect of investment advisory services. She has consulted with clients on all aspects of investment adviser regulations and has audited dozens of advisory firms. In addition, Marilyn is a frequent speaker for desktop seminars and conferences.
Marilyn received a Bachelor of Arts degree in English from Regis College, magna cum laude, and a Juris Doctor degree from New England School of Law. She is a member of the State Bar of Massachusetts, and is actively involved in volunteering for the Juvenile Diabetes Research Foundation.


 

Larry Nakamura, Consultant, IA/BD Services, NRS

LARRY NAKAMURA is an Investment Adviser Services consultant and has over 16 years of broad experience in the securities industry with compliance, trading, registered and unregistered fund structures, operations and executive management. Larry joined NRS in December 2010.

Larry has been a principal executive of several independent registered investment advisory firms and broker-dealers. Prior to joining NRS Larry served as the Chief Compliance Officer of Dunham & Associates Investment Counsel, Inc. During this period Larry was responsible for the compliance of 13 Reg. D funds, Section 3(c)(3) Common & Collective Funds and was also part of the executive team that lead the development and launch of 12 registered 1940 Act funds for this organization.

Larry has extensive real-world experience with helping firms develop internal controls and practical procedures in the areas of trading, operations and compliance. In 1998 Larry co-founded Nexa Technologies, Inc. which designed and developed a multi-lingual direct access trading platform, trading tools, and back office system for active trading firms.

Larry holds a PFP designation from the University of California, Los Angeles Extension and has held the FINRA Series 4, 7, 24, 55 licenses.


   

David Pickle, Partner, K&L Gates

DAVID PICKLE is a Partner in the international law firm of K&L Gates LLP. Mr. Pickle concentrates on representing clients in matters dealing with ERISA’s prohibited transactions and exemptions and ERISA’s fiduciary rules. He represents investment managers, financial institutions and plan sponsors in a wide variety of matters including investments and other transactions with ERISA plans and in litigation and government enforcement actions. He also assists clients in obtaining U.S. Department of Labor ERISA advisory opinions and prohibited transaction exemptions.

Mr. Pickle’s recent experience includes: defending major corporations in litigation and government enforcement actions alleging systematic overpricing of company stock in the corporate 401(k) plans; negotiating investment agreements for a plan’s hedge fund and other alternative investments; representing a major financial services firm on ERISA issues raised by loans to investment funds; counseling asset managers regarding fiduciary obligations raised by loss of foreign investments; and representing a trade association of investment managers in discussions with the U.S. Department of Labor relating to plan payment of fees and expenses.

Mr. Pickle was formerly a Trial Attorney at the U.S. Department of Labor’s office for ERISA enforcement, the Office of the Solicitor’s Plan Benefits Security Division. In that capacity he was responsible for ERISA investigation, enforcement and litigation of a wide variety of matters involving ERISA’s fiduciary rules and prohibited transactions. Mr. Pickle serves as an Adjunct Professor of Law at Georgetown University Law Center.

Mr. Pickle earned a J.D. from the University of Kansas School of Law (1991) and a B.A. from Carleton College (1984), and is a member of the District of Columbia Bar and the Kansas Bar.


   

Bob Plaze, Partner, Stroock & Stroock & Lavan 

Robert Plaze is one of eight corporate partners with principal responsibility for the ongoing representation of over 800 mutual funds, closed-end funds, ETFs or business development companies (or their independent board members), as well as investment advisers, industry service providers and unregistered pooled investment vehicles. Our clients represent nearly $1.2 trillion in assets under management (over 8.0% of U.S. investment company assets).

Prior to joining Stroock, Mr. Plaze served as Deputy Director of the Division of Investment Management of the U.S. Securities and Exchange Commission. During his nearly 30 years of service with the Commission, Mr. Plaze was responsible for policy development and management of many of the key regulatory initiatives during that
period affecting investment companies and investment advisers under the Investment Company Act of 1940 and the Investment Advisers Act of 1940, including rules governing fund and adviser compliance programs, fund corporate governance, personal trading, custody and brokerage practices, prohibitions on “pay to play” practices, and
protection of investor privacy. Most recently, Mr. Plaze was responsible for rulemaking to implement provisions of the Dodd Frank Wall Street Reform and Consumer Protection Act affecting investment advisers, including rules requiring advisers to hedge funds and other private funds to register with the Commission, rules implementing new exemptions from registration and rules requiring reporting by certain exempt investment advisers.

Mr. Plaze is one of the nation’s leading experts in the regulation of money market funds. While a Commission official, Mr. Plaze was responsible for the Commission’s money market regulatory program, including amendments to rule 2a-7 adopted in 1991, 1996 and 2010. He represented the Commission on several interagency committees of the Financial Stability Oversight Board dealing with systemic risk issues and the regulation of money market funds.

Mr. Plaze joined the Commission in 1983 as an attorney in the Division of Investment Management. During his tenure with the Commission, he held several positions of responsibility in the Division, including Special Counsel, Assistant Director, Associate
Director for Regulatory Policy and Deputy Director. In 2009 he was awarded the Distinguished Service Award, the Commission’s highest honorary award for a member of its staff.


   

Marc D. Powers, Partner, BakerHostetler

Marc D. Powers has been practicing securities regulation, litigation and enforcement law for over 25 years since leaving public service at the SEC’s Enforcement Division and leads BakerHostetler’s Securities Litigation and Regulatory Enforcement practice. During his career Marc has provided compliance and regulatory advice to hedge funds and broker-dealers, their principals and portfolio managers, and has represented them in disputes with investors in litigation and arbitrations. He has successfully represented funds in SEC, CFTC and criminal investigations and proceedings against charges of misleading fund valuations, insider trading, market timing and late trading, supervisory failures and futures market manipulation.

He is a member of BakerHostetler’s National Task Force on Complex Financial Fraud and is a member of BakerHostetler’s court-appointed team serving as counsel to the SIPA Trustee for the liquidation of Bernard L. Madoff Securities LLC, where he has been coordinating strategy for the SIPA Trustee’s actions against several major feeder funds. Marc is a sought after commentator on many complex securities-related issues, appearing on panels, in print media and television, and is a regular contributor to various industry publications.

Some of Marc’s clients have included Wells Fargo Advisors, EMF Financial Products, New York Life Securities, Doug Faneuil in the ImClone/Martha Stewart insider trading case, Matrix Financial Solutions and Lord Conrad Black, the former Hollinger media mogul. He is an appointed member to the Wolters Kluwer (CCH) Securities Regulation Advisory Board since 2011.


 

Gerald Russello, Partner, Sidley Austin

GERALD RUSSELLO has spent almost 15 years representing individual and institutional clients in a wide variety of securities enforcement and regulatory defense actions. Prior to joining Sidley, Gerald lead a trial team in a successful defense of a clearing firm charged by the FINRA Department of Enforcement with alleged violations of FINRA’s AML rules.

Gerald served as attorney and branch chief with the United States Securities and Exchange Commission’s Enforcement Division, where, among other matters, he lead and supervised investigations into possible market manipulation, accounting fraud, insider trading, and other misconduct.

Public matters with which he was involved include In re CIHC, Inc., et al., In re MBIA, Inc., SEC v. Cobalt Multifamily Investors I, LLC, et al. and Report of Investigation Pursuant to Section 21(a) of the Securities Exchange Act of 1934 Regarding The Nasdaq Stock Market, Inc., as Overseen By Its Parent, The National Association of Securities Dealers, Inc. Gerald also served as a managing director in the legal department of Bear, Stearns & Co., Inc., where he managed significant litigations and was a member of the firm’s Suspicious Activity Report Committee;

Gerald also is an adjunct professor at the Benjamin N. Cardozo School of Law, where he teaches a seminar on securities litigation and enforcement. He regularly writes and speaks on topics such as regulatory compliance, insider trading, and enforcement trends, and is a co-author of the Securities Litigation and Enforcement Nutshell, forthcoming from West Publishing.


 

George Sepsakos, Associate, Groom Law Group

GEORGE SEPSAKOS is an associate in the Fiduciary Responsibility group at Groom Law Group. His practice focuses primarily on issues related to Title I of ERISA, including fiduciary responsibility and prohibited transaction issues.

Prior to joining the firm, Mr. Sepsakos worked as an ERISA Enforcement Advisor within the Office of Enforcement of the Department of Labor's Employee Benefits Security Administration.
 


 

Fred Shane, Due Diligence Officer, Commonwealth Financial Network

FRED SHANE assumed the role of Chief Risk Officer in August 2013. In his role, Fred is responsible for the ongoing oversight and enhancement of Commonwealth's enterprise risk management program. Fred collaborates closely with key stakeholders to ensure that Commonwealth's enterprise risk program complements the firm's unique culture while adhering to regulatory and industry standards. He actively seeks ways to improve policies, procedures, and controls to reduce or eliminate the negative impact of risk to Commonwealth. He also manages the Risk Committee, comprised of senior executives whose primary responsibilities include setting risk initiatives, establishing risk objectives and affirming risk governance.

Before taking on the role of Chief Risk Officer, Fred led the formation and oversight of Commonwealth's centralized due diligence program on behalf of Wealth Management. He is a frequent speaker at industry events on subjects related to due diligence, risk management, and regulatory issues.


 

Michael L. Sherman, Partner, Dechert

MICHAEL L. SHERMAN practice focuses on counseling investment advisers (including advisers to hedge funds), investment companies and other financial institutions in regulatory, corporate and compliance matters.

Much of Mr. Sherman’s work involves helping clients with issues related to investment adviser registration, compliance policies and procedures, marketing and advertising (including Global Investment Performance Standards), investment company status questions, and regulatory issues and examinations.


 

Daniel Sibears, EVP Member Regulation Programs, FINRA

DANIEL SIBEARS is the Executive Vice President of Member Regulation Programs at FINRA. His career has focused on securities regulation, supervision, compliance, and enforcement, and his legal and management background includes private practice, the Michigan Court of Appeals, the U.S. Securities & Exchange Commission, the National Association of Securities Dealers (NASD), and the Financial Industry Regulatory Authority (FINRA).

Member Regulation includes over 1,000 staff members in New York City, Washington, D.C., and 15 District Offices geographically disbursed throughout major financial centers in the United States. Cycle and cause examinations, financial surveillance, membership admissions, fixed income regulation, statutory disqualifications, staff training, sales practice and financial policy, and broker-dealer preventive compliance programs are all administered through FINRA’s Member Regulation Department. In addition to Member Regulation, Mr. Sibears serves as a liaison with state, federal, and international agencies on policy, regulatory, and strategic matters. Mr. Sibears was centrally involved in the creation of the securities industry continuing education program for U.S. broker-dealers, as well as the FINRA Institute at Wharton.
Mr. Sibears is the former Chairman of the Board of Trustees for the National Endowment for Financial Education.

At NASD (now FINRA), Mr. Sibears also served two years as the Vice President of District Oversight, three years as Director of Regulatory Policy, and eight years as the Director of the Enforcement Department.


 

David M. Sobel, EVP / CCO, Abel/Noser

David M. Sobel is Executive Vice President, General Counsel and Chief Compliance Officer of Abel/Noser Corp., a FINRA / NYSE member broker/dealer. He was previously a partner at The Goldstein Law Group, P.C. where he concentrated in the areas of broker-dealer compliance/regulation, securities litigation, including arbitration and mediation, and disciplinary/enforcement matters at the SEC, NYSE, AMEX and FINRA.

Mr. Sobel was a Floor Member of the New York Stock Exchange from 1982 through 1991 as a floor broker for both H.A. Brandt & Co. and First Options of Chicago, and President of his own NYSE member firm, Ampro Securities, Inc. After leaving the NYSE floor, he was a Senior Equity Trader / Market Maker for Trimark Securities.

Mr. Sobel has a Master of Science Degree from Brooklyn College and a Law Degree from Pace Law School where he was an Editor of the Intern’l Law Review and recipient of the Dean’s Award. Since 1998 he has been a FINRA Arbitrator; a 2nd term member of FINRA’s District 10 Committee; the Board of Directors of the National Society of Compliance Professionals (NSCP), 2013 Chairman of FINRA’s Small Firm Advisory Board and Past Chairman of the Board of the National Association of Independent Broker Dealers (NAIBD).

Mr. Sobel has been quoted in and/or interviewed by: Compliance Reporter, WSJ.com, Complinet, Trader’s Magazine, Wall Street Letter, BD Week, Op/Risk and Compliance Magazine, Institutional Investor News, Dow Jones Newswire and is a frequent speaker at securities conferences for FINRA, NSCP, NRS, NAIBD, FMW and Strategy Institute. Recent Conference topics include: Enterprise Risk Management; Internal Audits; Supervisory Responsibility, Financial Responsibility, Fraud Prevention in Portfolio Management, Social Media, Foundations of Compliance, Best Practices and Forensic Compliance.

He is admitted to practice before the Supreme Courts of New York and Connecticut, the U.S. District Courts for the Southern and Eastern Districts of New York and the Second Circuit Court of Appeals. He is a member of the NY County Lawyers Ass’n, the NY State Bar Ass’n and the American Bar Ass’n.


 

Robert Stirling, Sr. Consultant, Investment Adviser Svcs, NRS

ROBERT STIRLING has worked with National Regulatory Services as a Senior Consultant for much of the past two decades: from October 1991 to June 2000, from May 2002 to June 2004, on a part-time basis staring in December 2007, and returning full-time in August 2008.

Robert has prepared and/or reviewed hundreds of ADVs representing firms of all sizes and engaged in every aspect of investment advisory services. He regularly reviews advertising and marketing materials, including websites, for compliance with SEC guidelines. Robert has also audited dozens of advisory firms and has spoken at numerous compliance conferences and seminars.

During his times away from NRS, Robert was himself a compliance officer. He was Chief Compliance Officer of PrivateAccounts, Inc. from July 2000 to October 2000, when Private Accounts, Inc. was purchased by E*TRADE Financial, where he worked as a Compliance Manager from November 2000 to May 2002. He was Chief Compliance Officer and General Counsel of Eubel Brady & Suttman Asset Management, Inc. of Dayton, Ohio from June 2004 through July 2008.

Robert’s experience as a CCO allows him to bring a practical, real-world approach to addressing compliance matters facing investment advisers of all sizes.

Robert graduated from the American University in 1975 with a Bachelor of Arts in Religion and received a Juris Doctor degree from the University Of Connecticut School Of Law in 1997. He has also been admitted to the Connecticut bar.


 

Dennis Stubblefield, Owner, The Law Offices of Dennis A. Stubblefield

DENNIS A. STUBBLEFIELD, a former SEC Enforcement Attorney, serves as counsel or expert witness in matters involving securities disputes and regulatory challenges. He also represents companies and individuals facing various other business-related disputes and issues. Mr. Stubblefield’s firm executes a client-centric “problem-solving” approach on every matter to achieve the client’s desired business end with the most effective means possible given the economics at hand.

He has substantial experience in cases involving private claims and regulatory matters concerning broker-dealers, various investment professionals, and issuers and promoters of securities. His experience includes cases involving Ponzi Schemes, selling away, private placements, and investment claims by elders.

With over 33 years’ experience in all key professional sectors - SEC Enforcement, broker-dealer legal and compliance (most recently as General Counsel of three AIG/SunAmerica firms), and private practice¬¬¬ - Mr. Stubblefield brings broad perspective and substantial resources to partner with his clients in reaching creative and effective solutions to legal problems big and small. His legal and expert witness practices complement each other, and his separate mediation practice - also focused on the resolution of investment disputes - provides valuable insight on case analysis and valuation. Mr. Stubblefield employs a professional model which leverages strategic relationships with other small law firms to deliver outstanding client value and results.


 

Kurt Wachholz, CEO and Owner, Wellspring Compliance

KURT WACHHOLZ is the Chief Compliance Officer for Wellspring Wealth Management LLC a registered investment adviser. He also provides operational leadership to The Wellspring Group a holding company of various financial service firms and supports the compliance programs of non-affiliated RIAs and Broker Dealers through his own firm WellSpring Compliance as well as in partnership with ReGroup LLC.

Mr. Wachholz has worked in the financial industry for over 20 years with experience in retail banking, life and health insurance, advisory and brokerage practice management. Prior to joining Wellspring, Mr. Wachholz was the Chief Compliance Officer for The InvestLinc Group a holding company of various financial service firms; prior to that he was with Homrich & Berg, Inc. where he served in various operational capacities including Chief Compliance Officer and Chief Technology Officer.

Mr. Wachholz has served on various industry organizations in various capacities through the years. Recently, he was selected to provide an “Ethics and Leadership” MBA Program module for the Goizueta Business School at Emory University. He has presented at national compliance conferences and participated in online webinars related to compliance programs. He has also assisted NRS with IACCP course presentations. He is currently a member of the National Society of Compliance Professionals (NSCP), the CCO Study Group of Atlanta and the Atlanta BD/IA Continuity Group. He is a volunteer judge for the InvestWrite youth program sponsored by the Foundation for Investor Education. He earned his Investment Adviser Certified Compliance Professional (IACCP) designation as well as securities licenses and has a B.A. from the University of Wisconsin.


   

John H. Walsh, Partner, Sutherland

JOHN WALSH is a Partner in Sutherland’s Business Practices Group and a member of the Securities Enforcement and Litigation Team. As a 23-year veteran of the Securities and Exchange Commission (SEC), John played a key role in creating the Office of Compliance Inspections and Examinations (OCIE), which administers examinations of the nation’s registered entities, including broker-dealers, investment managers, funds, self-regulatory organizations, and others.

Prior to this, John was Special Counsel to former SEC Chairman Arthur Levitt and worked in the SEC’s Division of Enforcement, serving first as Senior Counsel and then as Chief of the Branch of Regional Office Assistance. John began his career with the SEC in 1988 as an attorney in the Office of General Counsel.

John is a Certified Fraud Examiner and a recognized author on securities regulation and compliance.

     

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