Skip to main content

Broker/Dealer Regulation and Enforcement 2016


Speaker(s): A. Duer Meehan, Alan M. Cohen, Andrew M. Hartnett, C. Annette Kelton, Carmen J. Lawrence, Christopher J. Mahon, Colleen P. Mahoney, Daniel Michael, Gerard S. Citera, Henry Klehm III, J. David Montague, James A. Brigagliano, Joaquin M. Sena, Joseph P. Borg, Joy A. Weber, Kay L. Lackey, Manal Sultan, Neal E. Sullivan, Peter Isajiw, Russell G. Ryan, Suzanne Elovic, Telemachus P. Kasulis, William R. Baker III
Recorded on: Oct. 20, 2016
PLI Program #: 150158

Alan is head of Global Compliance. He serves as a member of the Management Committee, the Firmwide Client and Business Standards Committee, the Firmwide Investment Policy Committee and the Firmwide Reputational Risk Committee. Alan joined Goldman Sachs as a partner in 2004.

Prior to joining the firm, Alan was a partner at O’Melveny & Myers, where he co-headed the White Collar and Regulatory Defense Practice and the New York Litigation Group since 1991. Prior to this, he was an assistant US attorney for nine years for the Southern District of New York, where his last assignment was as the chief of the Securities and Commodities Fraud Task Force.

Alan serves on the Board of Directors of the New York Stem Cell Foundation and the Board of Trustees of Temple University. He is also a member of the Lawyers Committee of the Innocence Project.

Alan earned a BA in 1972 from Temple University, as well as a PhD and a JD, with highest honors, from Rutgers University in 1976 and 1979, respectively.


Carmen Lawrence is a partner in King & Spalding’s Special Matters and Government Investigations practice group.

Ms. Lawrence's practice focuses on representing parties in investigations and litigations conducted primarily by the US Securities and Exchange Commission, US Commodity Futures Trading Commission, US Department of Justice, self-regulatory organizations and state securities regulators, conducting internal investigations, providing crisis management advice to public and private companies and counseling public companies and regulated entities (broker-dealers and investment advisers) on their obligations under the federal securities laws.

From 1996 until June 2000, Ms. Lawrence was the Regional Director for the SEC's Northeast Regional Office (covering 14 states and the District of Columbia), where she oversaw all enforcement and regulatory operations in the SEC's largest region.  Some of the SEC's most significant cases were brought by the Northeast Regional Office under Ms. Lawrence's leadership.

Before her appointment as regional director, from 1990 through 1995, Ms. Lawrence served as Senior Associate Regional Director, heading up the Northeast Regional Office's Enforcement Division.  From 1981 to 1989, she served in various staff and senior positions in the Enforcement Division.

Ms. Lawrence received numerous awards during her tenure at the SEC, including the Equal Employment Opportunity Award in 1998; the Presidential Distinguished Executive Award in 1995; the Stanley Sporkin Award in 1993; and the Irving M. Pollack Award, presented to an enforcement lawyer exhibiting leadership, integrity and intellect, in 1990. 

Ms. Lawrence is consistently recognized by Chambers USA: America's Leading Lawyers for Business as a leading individual for Securities Regulation and for Litigation: White-Collar Crime & Government Investigations.  She is consistently recognized by Legal 500 in Litigation: White-Collar Criminal Defense, and is additionally recognized in Financial Services: Litigation.  She is also consistently recognized by Benchmark: Litigation as a New York Litigation Star. She was named to Securities Docket’s inaugural “Enforcement 40” list of top SEC enforcement lawyers in 2013.

Ms. Lawrence has spoken extensively and participates in numerous continuing legal education programs for federal securities law matters.


Henry Klehm, co-head of the Firm’s Securities Litigation & SEC Enforcement Practice, brings almost 30 years of experience at the U.S. Securities and Exchange Commission as a senior enforcement officer, a senior in-house lawyer at two global financial institutions, and a public company director. In the last ten years, Henry has acted as counsel in major corporate investigations and civil and criminal enforcement actions throughout the world. He counsels boards, corporations, and financial institutions on cross-border internal investigations, crisis management, corporate governance, and effective compliance and ethics programs, as well as legal matters related to internal control, auditing, litigation loss contingencies (ASC 450), and whistleblowers.

Recent representations include public companies, audit and special committees, financial institutions, and senior corporate officers in investigations and litigation involving disclosure, complex financial products, financial reporting, the Foreign Corrupt Practices Act, money laundering, and economic sanctions.

Prior to joining Jones Day, Henry was Deutsche Bank’s global head of compliance and Prudential Financial’s deputy general counsel for regulatory matters. He was with the SEC for ten years, serving as head of enforcement for the northeastern United States for five years, where he investigated, litigated, and supervised more than 500 enforcement actions including insider trading, financial frauds, Ponzi schemes, rogue traders, market manipulations, and investment company and advisor matters.

Since 2006, Henry has served as an independent director of RenaissanceRe Holdings, an NYSE-listed catastrophe reinsurance firm. He is currently chair of the Compensation and Governance Committee and previously chaired the audit committee.

Henry frequently lectures on cross border investigations, financial services, and corporate governance matters.


JAMIE BRIGAGLIANO is a partner of the Securities and Derivatives Enforcement and Regulatory group, which received the 2019 Chambers USA award for Financial Services Regulation Firm of the Year. Prior to joining Sidley, Jamie served as the Deputy Director of the Division of Trading and Markets at the Securities and Exchange Commission, where he held senior policymaking and management responsibilities. His practice at Sidley is composed of advising broker-dealers, hedge funds and other financial services firms on a broad variety of regulatory, enforcement, compliance and transactional matters. Jamie focuses his practice in particular on SEC and SRO rules governing trading by broker-dealers and hedge funds, and broker-dealer registration and conduct rules.

Jamie’s practice has been regularly recognized by Chambers USA and The Best Lawyers in America. In the 2015 edition of Chambers USA, Jamie was recognized as a lawyer with “a good understanding of how the SEC operates” and “strong practical skill in trading practices.” For the 2016, 2017 and 2019 rankings, The Best Lawyers in America list Jamie as a “Best Lawyer” in the Securities Regulation category.

While at the SEC, Jamie oversaw the regulation of broker-dealers, securities markets and trading practices; advised on enforcement matters and testified before Congress. Jamie was honored with numerous awards during his tenure at the SEC.  He has been a frequent speaker at seminars and conferences.

 


Joseph Borg has been Director of the Alabama Securities Commission (ASC) since 1994. Borg was twice past president of the North American Securities Administrators Association (NASAA) and is currently serving his third term as President. He served as a member on the NASAA Board of Directors, as Chair of the International Committee, Chair of Enforcement, Ombudsman and in several other capacities. He is also a member of the Board of Directors of the National White Collar Crime Center (NW3C) and previously served as a member of the Board of Directors of the Investor Protection Trust (IPT). He has also served as a member of the SIPC Modernization Task Force and the FINRA Dispute Resolution Task Force.

Borg recently (June 2018) testified before the U.S. House Financial Services Committee, Capital Markets Subcommittee hearing entitled “Ensuring Effectiveness, Fairness, and Transparency in Securities Law Enforcement.” He has previously testified before various committees of the U.S. Senate and U.S. House of Representatives including testimony on such areas as Microcap Fraud; Criminal Elements in the Financial Markets; Information Sharing among Financial Regulatory Agencies; Risks Posed to Everyday Investors from IPOs in Private Equity and Hedge Funds; Illegal Investment Sales’ Practices Victimizing Senior Citizens; and SIPA and SIPC Modernization.

Borg served as a U.S. delegate to an Intergovernmental Expert Group for the United Nations Commission on International Trade and Law (UNCITRAL).

Borg previously served as in-house corporate counsel to First Alabama Bank (n/k/a Regions Bank, 1979-1984) and has been an adjunct professor of law at Faulkner University Jones School of Law teaching securities law and banking (1982-2002), and has been a Partner in the Montgomery law firm of Capouano, Wampold, Prestwood & Sansone (1984-1994).

He is admitted to practice in Alabama, Florida, New York, U.S. Federal District Courts in Alabama and Florida, the 5th and 11th Circuit Courts of Appeal and the U.S. Supreme Court.


Joy Weber is currently an Executive Director, Deputy General Counsel at UBS Financial Services, Inc. where she heads the Firm’s Regulatory Group.  In that capacity, she manages a team of attorneys and analysts who handles the Firm’s regulatory caseload by responding to regulatory inquiries and enforcement matters including those from the SEC, Finra, and the states, among others.

Joy is also head of the Firm’s Regulatory Reporting Group and Subpoena Levies and Garnishments Group.

Prior to joining UBS almost a decade ago, Joy spent 18 years at the NYSE Division of Enforcement.  When she left the NYSE, Joy was a Vice President who reported to the Chief of Enforcement.  At the NYSE, Joy managed a group of attorneys, paralegals and other professionals who investigated and prosecuted cases involving violations of NYSE rules and the federal securities laws.

Joy has also been an Adjunct Professor of Law at her alma mater Brooklyn Law School for 14 years where she teaches a class on Securities and Market Regulation.


Kay Lackey is a Managing Director/Senior Counsel at Royal Bank of Scotland (Americas).  Kay is the Head of Litigation and Regulatory Investigations for Corporate and Institutional Banking.

Prior to joining RBS, Kay worked at the Securities and Exchange Commission for 14 years.  Kay joined the Commission in 1995 as a staff attorney in the Division of Enforcement in New York and was subsequently promoted.  When she left the Commission, Kay was an Associate Regional Director and Co-Head of Enforcement in the New York Regional Office.  While at the SEC, Kay worked on and supervised numerous enforcement actions involving a variety of areas, including financial fraud, stock options backdating, insider trading, market timing and late trading, ponzi schemes, and market manipulation.

Prior to working at the SEC, Kay was a litigation associate at Mayer Brown.  Kay also clerked for the Honorable Nathaniel M. Gorton of the United States District Court for the District of Massachusetts and the Honorable Juan R. Torruella, of the United States Court of Appeals for the First Circuit.  Kay received her J.D. from Boston University Law School and her B.A. from Williams College.


Manal Sultan is currently the Deputy Director for the Division of Enforcement and is in charge of the Division’s New York office. Ms. Sultan represented the Division in many enforcement actions, including virtual currency matters, which are filed in the United States District Court and focus on allegations of manipulation, fraud, and trade practice misconduct. She has also successfully negotiated and settled many actions including benchmark cases and spoofing cases. Prior to being appointed Deputy Director, she has served as a chief trial attorney with the Division of Enforcement at the CFTC in New York. She also served as the Squad Leader of the Manipulation and Disruptive Trading squad of the Division. Ms. Sultan is a graduate of Fordham Law School. In addition, she holds an MBA in finance and information technology.

 


NEAL SULLIVAN, a member of the Firm’s Executive Committee, is co-leader of Sidley’s Securities & Derivatives Enforcement and Regulatory practice, which received the 2016 Chambers USA Award for “Financial Services and Securities Regulation.” Neal conducts a comprehensive securities regulatory and enforcement practice in which he represents broker-dealers, investment banks, investment advisers, accounting firms, public companies, and senior corporate officers before the SEC, DOJ, DOT/FinCEN, PCAOB, FINRA, state attorneys general and securities regulators in private and public investigations and enforcement proceedings and in connection with international securities regulatory matters. He has been recognized in the areas of Securities Regulation and Enforcement since 2008 in Chambers USA: America’s Leading Lawyers for Business, where he has been described as “the epitome of a ‘wise counselor,’” with “significant credibility with the regulators and a keen sense of what all parties need to accomplish to reach resolution.”

A dynamic and effective enforcement counsel, Neal has represented financial services clients in many of the SEC’s major Wall Street investigations in the past 15 years, including anti-money laundering, insider trading, the sale of auction-rate securities, other structured products and various subprime mortgage-related matters; mutual fund market timing. He has represented public companies and accounting firms in connection with SEC investigations and proceedings related to audit work papers, accounting treatment of assets and valuations, compliance with Regulation FD and accounting treatment in connection with M&A.

Neal is also one of the leading advisers to the securities industry on major compliance and regulatory matters. He has played a central role in many significant matters over the past 20 years, such as representing Freddie Mac in a multi-year investigation by the SEC and the DOJ regarding sub-prime mortgages, representing Morgan Stanley in obtaining regulatory approvals for the 2009 launch of Morgan Stanley Smith Barney, the country’s largest retail broker-dealer and in its subsequent move to self-clearing and the Boston Options Exchange’s 2012 filing with the SEC to become a national self-regulatory organization. He represented the settling banks in negotiating the NASAA model settlement that become the basis for the Global Settlement Relating to Firm Research and Investment Banking Conflicts of Interest announced by the SEC, NASD, NASAA, NYSE and the N.Y. Attorney General’s office in April 2003.

During his tenure as the executive director of the North American Securities Administrators Association, he represented the 53 states and territories in negotiations concerning The National Securities Markets Improvement Act of 1996 and was one of the principal drafters of NSMIA. He also served as chief of the Massachusetts Securities Division and was vice president of regulation at the Boston Stock Exchange.

Neal appears regularly on industry and legal panels that address issues of concern to the securities industry, including the SIFMA C&L annual meeting and certain SIFMA regional meetings. He has co-chaired the Fall PLI course on broker-dealer regulation annually since 2007. He also speaks at FINRA’s fall and spring annual conferences.  He has appeared before the U.S. Congress to provide testimony on various SEC proposals and proposed federal oversight of the U.S. capital markets. He has authored several published articles on regulation of broker-dealers.


Suzanne Elovic is the Head of Regulatory Inquiries and Relations at UBS Securities LLC.  In that role, she oversees all securities-related regulatory inquiries and examinations and represents the Firm in matters before the SEC, FINRA, and other regulators.  Prior to joining UBS in 2013, Ms. Elovic briefly held the role of Head of Regulatory Relations at MF Global, Inc. 

From 1999 through 2011, Ms. Elovic held various roles in the Enforcement Department of FINRA (and its predecessor NYSE Regulation, Inc.).  From 2008 through 2011, she served as Chief Counsel.  In that position, Ms. Elovic supervised hundreds of Enforcement investigations including matters involving violations of Regulation SHO, Bluesheet reporting, mutual fund market timing, and net capital requirements as well as numerous cases imposing sanctions for failure to comply with various regulatory requirements caused by significant systemic and operational deficiencies and attendant supervisory failures.  As a staff attorney at NYSE Regulation, Ms. Elovic held a leadership role on the joint regulatory team handling the investigations that ultimately resulted in the $1.4 billion Global Research Analyst settlement.

Ms. Elovic began her career in the New York County District Attorney's Office under the Honorable Robert Morgenthau.  An Assistant District Attorney for seven years, Ms. Elovic handled the prosecution of hundreds of criminal matters, first-chaired 15 jury trials and from 1994-1997, specialized in the handling of white-collar criminal matters as an Assistant in the Frauds Bureau.

Ms. Elovic received her J.D. from the Benjamin N. Cardozo School of Law and her B.A. from Brandeis University.


William R. Baker, III is a partner in the Washington office of Latham & Watkins.  For almost three decades, first as a senior officer at the SEC, and then at Latham, Mr. Baker has worked on some of the most significant securities regulatory and corporate governance matters. Today, he represents financial institutions, corporations, auditing and other professional firms in SEC and other regulatory enforcement proceedings.  In addition, Mr. Baker conducts internal investigations on behalf of management and boards of directors. He regularly counsels clients on SEC reporting, disclosure, compliance and corporate governance requirements.

Prior to joining Latham, he served as Associate Director of the SEC’s Division of Enforcement where he was responsible for supervising all types of SEC enforcement activities, including investigations involving issuer accounting fraud and other disclosure violations, insider trading, market manipulation and broker-dealer and investment adviser misconduct. Mr. Baker led numerous high-profile investigations that resulted in several landmark enforcement actions, including the SEC's action against WorldCom Inc., involving one of the largest financial frauds in history. While at the Commission, he was a recipient of the SEC's Stanley Sporkin Award, awarded by the Chairman of the SEC in recognition of outstanding contributions to the Enforcement program, and of the Commission's Law and Policy Award.

Mr. Baker is consistently recognized as a leading securities lawyer by Chambers USA and The Legal 500 US and is listed as one of the Best Lawyers in Washington by Washingtonian magazine. In 2017, he was named to BTI Consulting Group’s “Client Service All-Star List,” which recognizes national leaders in superior client service identified directly by corporate counsel and executives. He is the co-author of "Corporate Internal Investigations after Sarbanes-Oxley" published in Volume II of The Practitioner's Guide to the Sarbanes-Oxley Act (American Bar Association 2005) and is a contributor to Securities Law Techniques (Matthew Bender). He was named to the Securities Docket 2017 "Enforcement 40" list, which lists the forty leading securities enforcement defense attorneys.

Mr. Baker is a Trustee of the SEC Historical Society.  Previously, he was an adjunct professor at George Washington University Law School, where he taught Securities Regulation. He is a frequent author, speaker and panelist on securities law issues at programs organized by a wide variety of groups, including the American Bar Association, the District of Columbia Bar Association, the Association of the Bar of the City of New York, SIFMA, the Justice Department's National Advocacy Center, the Practicing Law Institute, Georgetown University Law Center and Stanford Law School. 


Annette is an associate general counsel in the Legal Department and is co-head of the department’s America’s Sales and Trading Practice Team. She advises Goldman Sachs and its affiliated US broker-dealers on a wide array of regulatory and legal issues relating to equities products and services. Annette joined Goldman Sachs in 1999 and was named managing director in 2005.

Prior to joining the firm, Annette worked with the US Securities and Exchange Commission (SEC), where she co-headed the Enforcement Program in the Philadelphia District Office. While at the SEC, she was responsible for oversight of a number of high profile federal securities law cases involving issues such as insider trading and market manipulation. During her tenure with the SEC, Annette also served as a legal assistant to SEC Commissioner Mary L. Schapiro. Prior to joining the SEC, Annette served as a federal clerk for the Honorable William F. Hall, Jr. in the US District Court for the Eastern District of Pennsylvania.

Annette earned a BS in Business Administration from Boston University School of Management in 1981 and a JD from Howard University School of Law in 1984.


Colleen P. Mahoney, a partner in Skadden's Washington, D.C. office, heads the firm's Securities Enforcement and Compliance practice, and regularly represents financial services firms, corporations, their boards, board committees, officers, directors and employees in Securities and Exchange Commission (SEC) and other law enforcement investigations.

Ms. Mahoney assists management and boards of directors performing internal inves­tigations, often advising clients on preventive and remedial measures before and after securities-related issues arise.

Ms. Mahoney has been the lead attorney representing many of the company boards and individuals embroiled in signature SEC investigations. Her clients have included many well-known U.S. and foreign companies. As is frequently the case with SEC enforcement matters, the biggest victories are the ones that never become public – the government investigations and inquiries that are put to rest before charges are filed or an indictment is issued, or even before a public disclosure of the government interest. Ms. Mahoney has succeeded in bringing a number of matters to a close in those circumstances.

Prior to joining Skadden, Ms. Mahoney spent 15 years in increasingly senior positions with the SEC, serving as acting general counsel of the agency and as deputy director of the division of enforcement. During her tenure at the SEC, Ms. Mahoney helped manage a civil law enforcement program that addressed a wide range of issues, including financial fraud and disclosure, asset management issues, derivatives and insider trading.

Ms. Mahoney frequently lectures on securities regulatory and enforcement issues at seminars and conferences in the United States and abroad.

Ms. Mahoney has been selected for inclusion in Chambers USA: America's Leading Lawyers for Business, The International Who's Who of Corporate Governance Lawyers, Lawdragon 500 Leading Lawyers in America and The Best Lawyers in America. Since 2012, she has been recognized as one of Benchmark Litigation's "Top 250 Women in Litigation" and she also was named to the shortlist of the nation's top women regula­tory lawyers by Chambers USA (2012). Additionally, Ms. Mahoney was included in Washingtonian Magazine's 2013 "Best Lawyers" list.


David leads the team of attorneys who handle the most significant regulatory matters arising out of the broker-dealer’s institutional businesses.  With more than thirty-five years of industry experience, he has broad and deep knowledge of global business, legal, compliance and risk issues.

After five years of private practice, David joined Merrill Lynch in 1983.  Since then, he has taken on numerous legal and compliance roles including equity trading counsel in New York and London, general counsel for all businesses in Australia, New Zealand and Papua New Guinea, and general counsel for the institutional businesses in Europe, Middle East and Africa.  

David has an A.B. from Indiana University and a J.D. from Northwestern University School of Law.  He has appeared on panels sponsored by SIFMA-CL, NASAA and PLI.


Jack leads Bank of America's Regulatory Inquiries Group, which responds to regulatory inquiries that potentially present significant reputational, financial or legal risk to Bank of America Corporation and its subsidiaries, including Merrill Lynch.  He is a member of the Legal Department’s Diversity and Inclusion Business Council and serves on the board of the Adams Street Foundation, which supports the Urban Assembly School for Law and Justice in Brooklyn, New York.

Jack received a Bachelor of Science degree in Economics and in Psychology from Brown University in 1982, and a Juris Doctor degree from the University of Pennsylvania in 1985.

Prior to joining Bank of America in 2005, he served in the Securities and Exchange Commission's Division of Enforcement for twelve years, including three years as a trial lawyer and nine years as an investigative attorney.  While employed by the SEC, he also served as a Special Assistant United States Attorney in the Eastern District of Virginia, where he handled various criminal matters.

Prior to joining the SEC, Jack spent four years at a law firm practicing antitrust law, which was preceded by three years at the Federal Trade Commission's Bureau of Competition.

 


Mr. Citera is senior legal advisor to large banks, investment banks, brokerage firms and other financial institutions in complex legal, regulatory and compliance matters. Previously, he was a Managing Director and Associate General Counsel at J.P. Morgan Chase & Co. where he managed the cash equities legal team.  Before joining J.P Morgan, he was Counsel in the Financial Institutions Group at Davis Polk & Wardwell and one of the senior lawyers in that firm’s Trading and Markets Practice. Mr. Citera also served as Deputy General Counsel at PaineWebber Securities and Regulatory Risk Manager for the U.S. Equities Division of UBS Investment Bank.  Earlier in his career, he was an attorney in the SEC’s Division of Market Regulation and Office of General Counsel and Special Counsel at the law firm Wilmer, Cutler & Pickering.   Mr. Citera has been a guest lecturer at the Rockefeller College of Public Administration at SUNY Albany, the University at Buffalo Law School, and Albany Law School.  He serves on the Dean’s Advisory Board to Rockefeller College and on the Advisory Council for the Institute of Financial Market Regulation at SUNY Albany.  Mr. Citera obtained his J.D. degree from the University at Buffalo Law School and his B.A. from the State University of New York at Albany.


Christopher J. Mahon is a senior vice president and head of broker-dealer legal and regulatory at AllianceBernstein, where he manages the legal and compliance functions globally for its institutional broker, Bernstein.  He serves on AB’s enterprise-wide ethics, conflicts, and internal control committees as well as other of its risk, governance and policy committees.

Chris is a member of the Compliance Advisory Committee of the U.S. Financial Industry Regulatory Authority, FINRA.  He is a former member of FINRA’s National Adjudicatory Council, serving as its Vice Chair in 2015, and of FINRA’s International Advisory Working Group.  Chris is a current member and former co-chair of the Securities Industry and Financial Markets Association’s Compliance and Regulatory Policy Committee.  He is an executive officer of SIFMA’s Compliance and Legal Society, contributing to the group’s various policy, advocacy and educational efforts.  He chaired C&L’s annual conference in 2016.

Chris is an adjunct faculty member at Fordham University’s Gabelli School of Business, where he teaches a course on financial regulation, compliance, and risk management.

Previously, Chris was a managing director at Deutsche Bank, where he held senior global and regional roles in equities and investment banking compliance.  He also was the director of compliance and counsel at D.E. Shaw & Co.  Chris served as a senior counsel in the U.S. Securities and Exchange Commission’s Division of Enforcement and was an associate in litigation and antitrust at Cadwalader.  Chris is a graduate of New York University School of Law, where he was an editor-in-chief of the Annual Survey of American Law.  He is a summa cum laude graduate of Rutgers College.


Daniel Michael is the Chief of the Complex Financial Instruments Unit of the SEC’s Enforcement Division. At the SEC, Dan supervises Unit members nationwide who investigate violations involving complex financial products, including matters relating to their structuring, sale, trading, and valuation. Dan, who is based in the New York Regional Office, joined the SEC in 2010 and was a staff attorney from 2010 to 2014 and an assistant director from 2014 to 2017.

Prior to joining the SEC, Dan was a law clerk to the Honorable Richard M. Berman in the United States District Court for the Southern District of New York and before that an associate at Cravath, Swaine & Moore LLP. He is a graduate of New York University and Harvard Law School.


Duer Meehan joined FINRA in August 2012 as the Deputy Director of the Department of Market Regulation. In addition, he helps lead FINRA’s participation on the SRO Consortium that is developing the Consolidated Audit Trail NMS Plan. Prior to working at FINRA, Mr. Meehan worked in PwC’s Financial  Services Regulatory Practice, where he worked on engagements with broker-dealers, asset managers, exchanges, a clearing agency, a trade monitoring vendor and a rating agency. He helped these organizations with front-to-back regulatory reviews, regulatory governance assessments, controls related to quantitative high-frequency trading, the prevention of insider trading, regulatory reporting, the implementation of new regulations, the enhancement of trade surveillance tools, and the management of conflicts of interest. Prior to working at PwC, Mr. Meehan was the Associate Director of the Office of Market Oversight in the SEC’s Office of Compliance Inspections and Examinations. In this role, he was responsible for supervising the SEC's oversight inspections of the self-regulatory organizations’ regulatory programs with respect to trading, including their surveillance, examination and disciplinary programs. His group was also responsible for examinations of broker-dealers’ trading practices and operations, including alternative trading systems. In addition, he oversaw the SEC's examinations of credit rating agencies and managed the transfer agent examination program, as well as participated in examinations of investment advisers. Before becoming associate director, Mr. Meehan was an assistant director in OCIE’s broker-dealer group, managing examinations addressing multiple issues, including equity and debt securities trading and sales practices, supervision, internal controls and anti-money laundering. In addition, his responsibilities included helping manage the SEC's national examination program for broker-dealers. Mr. Meehan has also served as an adjunct professor of law at Georgetown University Law Center, teaching the regulation of securities trading. His experience prior to working at the SEC includes implementing trading systems at Bloomberg.


Russ Ryan is Senior Vice President and Deputy Chief of FINRA’s Department of Enforcement in Rockville, MD.  Before joining FINRA in March 2015, Russ was a partner for 11 years in the Washington, DC office of King & Spalding LLP, where he advised clients in a wide range of securities enforcement matters.  From 1994 to 2004, he worked at the Securities and Exchange Commission as a Staff Attorney, Branch Chief, and Assistant Director in the agency’s Division of Enforcement.  Earlier in his career, Russ served as law clerk to the Honorable Henry Bramwell of the United States District Court for the Eastern District of New York and was a litigation associate at Willkie Farr & Gallagher.  He received his undergraduate degree from Boston College and his law degree from St. John’s University School of Law.


Telemachus Kasulis is the Co-Chief of the Securities and Commodities Fraud Task Force at the United States Attorney’s Office for the Southern District of New York. Prior to joining the Office, Mr. Kasulis worked at a law firm in New York City and clerked for the Honorable Joseph M. McLaughlin on the United States Court of Appeals for the Second Circuit. He is a graduate of Yale University and Cornell Law School.


Andrew M. Hartnett is Commissioner of Securities for the State of Missouri in Secretary of State Jason Kander’s office. As Commissioner, he directs the activities of the Enforcement, Examination, and Registration Sections and serves as the statutory adjudicator in administrative enforcement actions filed by the Securities Division. He chairs the Broker-Dealer Section, the Board Committee on Cybersecurity, the Investment Adviser Cybersecurity and Technology Project Group, and the Federal Legislation Committee for the North American Securities Administrators Association (NASAA). He is a past chair of NASAA’s Enforcement Section. He also serves on NASAA's Board Committee on Senior Issues and Diminished Capacity. Prior to being appointed Commissioner of Securities, he worked in the Missouri Attorney General’s office, first as an Assistant Attorney General in the Consumer Protection Division and then as Chief of Staff to Attorney General Chris Koster. He began his legal career at Bryan Cave LLP. He is a graduate of Saint Louis University School of Law, New York University (MA in French Studies), and Catholic University of America in Washington D.C.