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Storming the Gatekeepers: When Compliance Officers and In-House Lawyers Are at Risk 2017

Speaker(s): Abbe R. Tiger, Charles V. Senatore, Daniel Nathan, Elaine H. Mandelbaum, Hank B. Walther, Jessica B. Hopper, Karyn S.W. Polak, Lee S. Richards III, Lynn A. Neils, Mark K. Schonfeld, MaryJeanette Dee, Peter H. White, Robert H. Hotz, Jr., Robert Stern, Samantha J. Leventhal, Samuel J. Winer, Sandra M. Hanna, Sheldon L. Pollock, Susan L. Merrill
Recorded on: Sep. 27, 2017
PLI Program #: 204223

Abbe R. Tiger currently is the Head of Compliance US for Computershare, Inc. and Chief Compliance Officer for Georgeson Securities Corporation. Abbe joined Computershare in October 2013. She is an attorney who has been admitted to practice law since 1983.  Just prior to joining Computershare, Abbe served as the Chief of the New Jersey Bureau of Securities in the New Jersey Office of Attorney General where she oversaw a staff of professional and clerical staff charged with administering all aspects of the New Jersey securities laws.  In that position, Abbe also sat on the Investment Advisor and Enforcement Committees of the North American Securities Administrators Association (NASAA).

Earlier in her career, she served as an Assistant District Attorney in Brooklyn, NY and a Branch Chief in the Division of Enforcement of the US Securities and Exchange Commission in Washington, DC.  Abbe also spent 14 years in various in-house roles at Merrill Lynch including as the Head of Internal Reviews.  Abbe received her BA and JD degrees from the State University of New York at Buffalo.  Abbe holds Series 7, 24 and 99 securities licenses.

Daniel Nathan, a partner at Morvillo LLP, uses his deep enforcement and regulatory experience to represent U.S. and international financial institutions and individuals before financial regulators.  With a combined 26 years as a senior enforcement official with the SEC, CFTC and FINRA, he is a particularly effective advocate for those facing investigations and/or enforcement action by those regulators.

Mr. Nathan provides clients facing SEC and FINRA examinations and enforcement investigations with detailed guidance and counsel related to broker-dealer supervisory procedures, sales practices, research, anti-money laundering, product disclosure and supervision, and securities and broker registration.  He also represents clients in SEC investigations involving financial reporting, insider trading, the JOBS Act, Dodd-Frank Act, ETFs, and the EB-5 Visa program.  On the derivatives side, he represents energy companies and traders and other market participants in CFTC and derivatives SRO investigations.  Mr. Nathan also speaks and writes frequently on a wide range of topics concerning financial institutions and enforcement.

Lee Richards is a founding partner of Richards Kibbe & Orbe LLP. He concentrates his practice in white collar criminal defense, securities enforcement defense, regulatory proceedings, internal investigations, and complex commercial litigations. He regularly represents investment banks, hedge funds, public companies, investment advisers, corporate officers and directors, and other professionals in investigations and proceedings by the DOJ, SEC, FINRA, and other governmental entities and SROs.

Prior to forming RK&O, Mr. Richards was an Assistant United States Attorney for the Southern District of New York, where he handled major prosecutions of insider trading and securities fraud, including the first successful criminal prosecution of an insider trading case in U.S. history. He has been recognized as one of the top ten White Collar Lawyers in New York by Conde Naste and was recently named one of The National Law Journal's Litigation Trailblazers & Pioneers.

Lynn A. Neils’ practice focuses on representing companies and individuals on matters related to white collar criminal defense, internal investigations, regulatory enforcement, corporate compliance and complex commercial litigation. Drawing on her extensive prosecutorial, corporate and private practice experience that spans more than twenty-five years, she has counseled clients in large-scale federal criminal investigations, as well as advised clients on the Foreign Corrupt Practices Act (FCPA) and other regulatory matters involving the SEC and federal, state and foreign regulators. Ms. Neils has significant trial experience in both the federal and state courts.

Ms. Neils is highly regarded by clients for her ability to "look at the full picture to get an understanding of what is going on" and her "impressive level of depth” (Chambers USA, Litigation: White-Collar Crime & Government Investigations, 2015).

Ms. Neils served as an Assistant United States Attorney in both the Southern District of New York (SDNY) and the District of New Jersey. During her more than 11 years as an Assistant United States Attorney, Ms. Neils worked on a wide variety of complex white collar cases, including securities fraud, accounting fraud, bank fraud, Bank Secrecy Act, tax fraud, wire fraud, money laundering, health care fraud, art fraud, insurance fraud, FCPA, U.S. sanctions and obstruction of justice matters.

In 2004, she was promoted to Chief of the Major Crimes Unit in the SDNY where she supervised approximately 20 senior Assistant United States Attorneys in handling the investigation and prosecution of a wide variety of complex, and often multinational, white collar cases. In that role, she coordinated with multiple prosecutorial and regulatory offices, including many outside the United States, including the U.K. Serious Fraud Office and the Financial Services Agency.  She also acted as a liaison with the banking regulators in New York, including the Federal Reserve Bank, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency.

For several years, Ms. Neils also served as Senior Counsel at Johnson & Johnson and was responsible for handling a large caseload of criminal and civil matters; conducting internal investigations; advising on compliance and regulatory matters, including those related to the FCPA; and conducting training of employees on regulatory and legal matters, including those related to the FCPA and other anti-corruption laws and regulations.

Mark K. Schonfeld is a litigation partner in the New York office of Gibson, Dunn & Crutcher and Co-Chair of Gibson Dunn’s Securities Enforcement Practice Group. He is also a member of the Crisis Management and the White Collar Defense and Investigations Practice Groups.

Mr. Schonfeld’s practice focuses on the representation of financial institutions, public companies, hedge funds, accounting firms and private equity firms in investigations conducted by the Securities and Exchange Commission (SEC), Department of Justice (DOJ), States Attorneys General, Financial Industry Regulatory Authority (FINRA) and other regulatory organizations. Mr. Schonfeld also conducts internal investigations and counsels clients on compliance and corporate governance matters.

Mr. Schonfeld is ranked as a leading lawyer in Securities Regulation and Enforcement by Chambers USA: America’s Leading Lawyers for Business, which highlighted client praise for his “invaluable current knowledge of agency practice, procedure and personalities active at the SEC” and noted he is “a very strategic, seasoned professional. He's measured, thoughtful and incredibly proactive in terms of keeping clients updated. He's detail-oriented and produces extremely high quality work.”

Prior to joining Gibson Dunn, Mr. Schonfeld concluded a 12-year career with the SEC, the last four years as the Director of the New York Regional Office, the largest of the SEC’s regional offices. Mr. Schonfeld oversaw professional staff of nearly 400 enforcement attorneys, accountants, investigators and compliance examiners engaged in the investigation and prosecution of enforcement actions and the performance of compliance inspections of more than 4,000 SEC registered financial institutions in the

region. Mr. Schonfeld led the New York Office through one of the most vibrant and rapidly evolving periods in the history of the SEC and securities law enforcement and brought many of SEC’s major landmark cases dealing with complex accounting fraud, mutual fund trading, hedge fund abuses, foreign bribery, insider trading and market manipulation.

MaryJeanette Dee is a partner in the Government Contracts, Investigations and International Trade Practice Group in the firm’s New York office. She is a member of the firm’s Executive Committee and serves as the Firm’s Co-Managing Partner.

MaryJeanette concentrates in internal investigations and regulatory and white collar criminal defense. Ms. Dee frequently represents banks, broker-dealers, investment advisers, corporate officers, financial advisors and other securities professionals in connection with domestic and cross-border investigations and inquiries by U.S. Attorney’s Offices for the Southern and Eastern Districts of New York, the SEC, the CFTC, FINRA, the NY Attorney General’s Office, the FRB, the NY Department of Financial Services and other governmental entities and self-regulatory organizations. She has conducted numerous internal investigations into a wide variety of allegations, including insider trading, trading and position valuation issues, misuse of confidential information, embezzlement, money laundering and BSA/AML issues, sanctions compliance and retail brokerage sales practice violations.

Pete White is co-chair of the Schulte Roth & Zabel Litigation Group and a member of the firm's Executive Committee.  He regularly represents corporations and executives in criminal and related civil and administrative matters, including grand jury investigations, internal investigations, SEC enforcement proceedings, False Claims Act and qui tam lawsuits, and shareholder class actions. Pete has litigated disputes involving accounting and securities fraud, Foreign Corrupt Practices Act violations, government program fraud, false claims and statements, antitrust violations, public corruption, tax evasion, insider trading, and environmental violations. A former Assistant U.S. Attorney for the Eastern District of Virginia and the District of Columbia, Pete has served as lead counsel in over 80 federal and local jury trials and many more bench trials.

A recipient of the Department of Justice Director’s Award for Superior Performance as an Assistant U.S. Attorney, Pete has performed with comparable skill as a private practitioner. Among the many publications that have recognized him as a leading litigator are: Chambers USA, Washingtonian Magazine ("Washington’s Top Lawyers” – white collar criminal defense), Best Lawyers in America (corporate compliance law, criminal defense: white collar, and litigation-securities), Ethisphere: Attorneys Who Matter, The Legal 500 United States, Washington DC Super Lawyers, and The Washington Post (“Their Own Defense,” June 18, 2007).

Pete obtained his B.A., with high honors, from University of Notre Dame and his J.D. from The University of Virginia School of Law, where he was Order of the Coif and on the Management Board of the Virginia Law Review. Upon graduation, he had the distinction of serving as a law clerk to The Honorable Richard L. Williams of the Eastern District of Virginia.

Samantha J. Leventhal is the Global Financial Crimes Executive responsible for the oversight for Individual and Small Business Banking, Merrill Lynch Wealth Management, Bank of America Private Bank and Merrill EDGE.  Samantha has also recently assumed oversight of Bank of America’s Enterprise Fraud Program.  In this role, Samantha is responsible for driving the execution of the anti-money laundering and fraud program through the Consumer and GWIM businesses and evaluating and mitigating risks presented by those businesses.

Prior to this role, Samantha was the Global Wealth and Investment Management Risk Executive serving as the Chief Risk Officer for Merrill Lynch Wealth Management and Merrill EDGE.  In this role, Samantha was responsible for looking across all seven risk types that define our risk management program and evaluate the impact of those risks on our retail broker-dealer activities. 

Samantha joined Merrill Lynch & Co. Inc. in May 2002 as a member of the Office of General Counsel in the Global Monetary and Financial Control Group.  This group was responsible for developing and implementing the company’s anti-money laundering program.  Samantha was part of that team until 2008 and as part of the transition work between Bank of America and Merrill Lynch, Samantha assumed responsibility for the Enterprise Client Coverage Team which was responsible for building a client referral program between the newly combined Bank and broker-dealer.  In 2012, Samantha joined GWIM Compliance and served as the GWIM Compliance Chief Operating Officer coordinating strategic business initiatives across the GWIM businesses.  In 2015, Samantha was named the GWIM Compliance Executive responsible for the GWIM Investment Solutions Group and Retirement and Personal Wealth Solutions group overseeing the compliance program for these retail broker-dealer products.  In 2017, Samantha was named the Merrill Lynch Wealth Management/Merrill EDGE Chief Risk Officer and Samantha assumed her current role as Global Financial Crimes Executive in May 2019.  

Samantha graduated from the University of Pennsylvania where she studied Diplomatic History and subsequently attended the Benjamin N. Cardozo School of Law.  After law school, Samantha practiced white collar criminal defense where she represented both corporations and individuals in complex business investigations. 

Samantha lives in New York and is active with fundraising for the Memorial Sloan Kettering Cancer Center.  Samantha is also an avid hiker and has hiked across six of the seven continents around the globe. 

Samuel J. Winer is a partner in the Washington, D.C. office of Foley & Lardner, specializing in the representation of public companies, board members, senior executives, auditors, and financial services firms before the SEC and other regulators.

Sandy graduated from Boston University School of Law in 1974, where he served as an editor in the law review.  After graduation, he served as a law clerk to the Chief Justice of the Supreme Court of Rhode Island and as special counsel in the Division of Enforcement of the SEC before going into private practice.  Sandy has been a partner at Foley since 1995.

Mr. Winer has also been selected by his peers to be included in The Best Lawyers in America© since 2006 and was named the Washington, D.C. Securities/Capital Markets Law Lawyer of the Year by Best Lawyers® in 2015 and the Washington, D.C. Litigation – Securities Lawyer of the Year in 2017.  He was rated to be one of the top securities regulation attorneys in the nation by Chambers USA for 2009-2017 and one of the top regionally in the District of Columbia for 2007, 2008, and 2009.  Mr. Winer was selected for inclusion in the Washington, D.C. SuperLawyers® lists for 2008-2017.

SUSAN MERRILL is a partner in Sidley’s New York office. Susan assists broker-dealers, investment advisers, financial institutions, exchanges and Fortune 500 companies across the U.S. in investigations before the SEC, CFTC, FINRA and state securities regulators. She also conducts internal investigations and advises clients on regulatory compliance matters. Susan is the former head of enforcement at FINRA, where she oversaw the establishment and development of its enforcement program. Susan has earned accolades from leading publications, including Law360’s Most Influential Women in Securities Law, The Legal 500 US (2013-2017), Chambers USA (2012-2020) and was named as Lawyer of the Year” in Securities Regulation The Best Lawyers in America (New York, 2020). Susan received her B.A., cum laude, from the University of Maryland, and her J.D., summa cum laude, from Brooklyn Law School.

Elaine H. Mandelbaum is General Counsel of Interactive Brokers LLC and Senior Vice President of IBG LLC, an automated global electronic broker-dealer.  In her role, she is responsible for the global legal team of Interactive Brokers.  Prior to that, Elaine worked for Citigroup for 21 years, most recently as Head of Litigation and Regulatory Investigations for Citi’s Institutional Clients Group (ICG). Prior to starting at Citigroup, Ms. Mandelbaum was a litigation attorney at the New York office of Jones, Day, Reavis & Pogue, and previously at Paul, Weiss, Rifkind, Wharton & Garrison.

Elaine is the immediate past President of the SIFMA Compliance & Legal Society, and has served on the SIFMA C&L’s Executive Committee for over a decade. Elaine was previously Vice Chair of the FINRA National Adjudicatory Council, the appellate body for decisions rendered in FINRA disciplinary and membership proceedings. Elaine serves on the Board of Directors of the Legal Action Center and of the National Council of Jewish Women, and was the recipient of the 2015 “Woman Who Dared” Award from the NCJW.

Elaine is a frequent speaker at PLI, SIFMA and other industry conferences on topics relating to complex securities litigation, corporate governance, internal and regulatory investigations and issues relating to women in the securities industry. She is an honors graduate of Yale College and of Harvard Law School.

For over a decade, Karyn Polak has provided strategic business counsel for the banking, brokerage, and asset management business lines of top-ten financial institutions, supporting C-suite executives in accelerating growth and managing risk, including by building and leading exceptional teams.  She also has over a decade of top law firm experience in corporate finance, securities, and M&A.

Karyn is Deputy General Counsel for PNC Bank, National Association, responsible for the Asset Management Group (AMG), one of PNC’s three main business lines.  She has been with PNC Legal since 2011.  Karyn’s team of 18 professionals includes lawyers and paralegals supporting AMG’s Wealth Management, Institutional Asset Management, Hawthorn multi-family office, PNC Capital Advisors, and PNC Realty Investors businesses.

Karyn came to PNC from Citigroup, Inc., where she most recently served as General Counsel for its Morgan Stanley Smith Barney joint venture.  Prior to that role, Karyn held a number of legal positions at Citi, including General Counsel and Managing Director for the Citi Private Bank; General Counsel and Managing Director for Citi Investment Research; and Managing Director for the Institutional Clients Group.  In private practice prior to Citi, Karyn was a corporate associate covering capital markets, corporate reporting, and mergers and acquisitions at Cleary Gottlieb Steen & Hamilton LLP, Rogers & Wells (now Clifford Chance), and Jones Day in New York City.

Karyn is on the Board of Directors and Governance Committee and is the Corporate Secretary of Philabundance, the region’s largest hunger relief organization.  She is also a Board member of the Economy League of Greater Philadelphia; co-chair of the The National Women’s Law Center Leadership Advisory Council; and a member of The Forum of Executive Women, the Women’s In-House Counsel Leadership Institute (WIHCL), and Impact100.  She participates in financial industry, Bar association, and women’s initiative groups to address legal issues as well as diversity, leadership, and law firm/department management matters and has spoken extensively on these topics.  Before moving to Philadelphia, she was a member of the New York City Bar’s Women in Law Committee.  In 2009-2010, Karyn completed the Coro Leadership New York program, a year-long civic engagement program for public, private, and government sector professionals.

Mr. Hotz, a former federal prosecutor, represents individuals and corporations in white collar matters and related civil litigation. Prior to joining Akin Gump in 2004, Mr. Hotz served for more than five years as a prosecutor in the U.S. Attorney’s Office for the Southern District of New York and was a member of the Securities and Commodities Fraud Task Force. He was co-lead prosecutor in the successful insider trading prosecutions arising out of the leak of the U.S. Treasury Department’s decision to suspend issuance of the 30-year bond.

Mr. Hotz is a member of the New York Council of Defense Lawyers and the New York State Bar Association Committee on White Collar Criminal Litigation. He has written and spoken on developments in white collar crime.

Representative Matters:

Mr. Hotz’s recent matters include:

  • defending the former Chief Financial Officer of a financial services firm in government investigations and parallel civil litigation
  • defending current and former executives of a major global financial services company in a DOJ, CFTC and FSA investigation regarding the London InterBank Offered Rate (“Libor”)
  • representing employees of a Fortune 500 company in an SEC investigation into certain accounting practices in the U.S. and Europe
  • defending the retired vice chairman of Tax of a big-three accounting firm in a criminal tax shelter prosecution
  • representing executives of a global financial services provider in an investigation concerning possible violations of U.S. sanctions
  • representing hedge funds in insider trading investigations brought by the DOJ and SEC
  • representing employees of an interdealer broker in an SEC investigation concerning trading practices
  • representing the former head of exploration and production of a leading energy company in a DOJ, SEC and FSA investigation of its accounting for petroleum reserves
  • representing executives of a Fortune 50 pharmaceutical wholesaler in an SEC/DOJ investigation and parallel shareholder litigation
  • representing a former executive of a mining and resource company in a Foreign Corrupt Practices Act (“FCPA”) investigation by the DOJ and SEC.
  • Community Involvement
  • Mr. Hotz is a member of the board of directors of the New York Lawyers for the Public Interest.

Rob Stern is the Chair of the Firm’s White Collar, Investigations, Securities Litigation & Compliance practice group and a nationally recognized securities litigator by both Chambers USA (Band 1) and Legal 500 (Leading Lawyer).

Rob has a demonstrated track record of achieving outstanding results for financial services institutions, Fortune 100 companies, officers and directors of public companies and accounting firms. Rob's mastery of the field enables him to develop creative litigation strategies and business solutions for his clients in a broad array of situations.

For the past 20 years, Rob has handled many of the most complex financial services and civil and governmental securities matters. Rob has litigated dozens of securities and commodities class actions and the parallel SEC, CFTC, PCAOB and/or criminal enforcement matters that accompany them. Rob has also tried numerous FINRA, AAA and international arbitrations and litigated merger and acquisition disputes in Delaware Chancery Court. Rob possesses particular expertise litigating claims involving accounting-related matters, structured products, mortgages, futures and derivatives.

In addition to being a recognized practitioner, Rob is also a thought leader -- lecturing and publishing widely. Rob is a faculty member of Practicing Law Institute’s Securities Litigation program and Chairs PLI's Storming the Gatekeepers:  When Compliance Officers and In-House Lawyers Are at Risk program. Rob has also spoken on Bond Buyer webinars, NERA's Securities and Finance Seminar, the Advanced Litigation Strategy Summit and Strafford Seminars.

Sandra M. Hanna represents public companies, regulated entities, boards of directors, audit committees, auditors, and individuals in investigations and proceedings by the Securities and Exchange Commission, Department of Justice, PCAOB, FINRA, and various other state and federal agencies. Ms. Hanna also has significant experience working as the independent corporate monitor, or counsel to the monitor, in connection with settled enforcement matters with the DOJ and SEC, and routinely provides clients with regulatory and compliance advice.

Ms. Hanna is recognized as a nationwide leader in enforcement matters. Chambers USA (2014 – 2021) has described her as “a terrific, incredibly smart and experienced SEC lawyer” and “an expert in her field: thoughtful, tenacious and dedicated to client service.” Securities Docket has recognized her on its “Enforcement 40” list of “the best and brightest securities defense lawyers,” and The Best Lawyers in America® has recommended her as a leading attorney in the area of Securities Regulation since 2016. Ms. Hanna previously served as the Co-Chair of the DC Bar Committee on SEC Enforcement and is a regular speaker at industry conferences concerning government enforcement matters and corporate governance issues.

Prior to co-founding the firm, Ms. Hanna worked at Willkie Farr & Gallagher, Foley & Lardner, and Morrison Foerster. Ms. Hanna also worked in the Summer Honors Program in the SEC’s Division of Enforcement. Prior to attending law school and business school, she managed the professional careers of a number of Grammy Award-winning musicians.

Ms. Hanna grew up in New York City and attended the United Nations International School. She graduated from Tufts University in 1993, and earned a law degree and an MBA from Georgetown University in 2001. Ms. Hanna is active in several charitable organizations, and also devotes significant time to pro bono activities.

Sheldon L. Pollock is an Assistant Director for the Division of Enforcement in the U.S. Securities and Exchange Commission’s New York Regional Office.  Prior to becoming an Assistant Director in 2015, Mr. Pollock was a Senior Counsel in Enforcement’s Market Abuse Unit, during which time he also served as a Special Assistant United States Attorney in the United States Attorney’s Office for the District of Connecticut.  Before joining the SEC in 2010, he practiced law at Davis Polk & Wardwell LLP.  Mr. Pollock began his career as a law clerk for the Honorable Colleen Kollar-Kotelly on the United States District Court for the District of Columbia from 2001 to 2003.  Mr. Pollock received his JD from Harvard Law School in 2001, an M.Sc. in International Accounting and Finance from the London School of Economics in 1998, and a Bachelor of Science in Accountancy from Villanova University in 1997.  He also serves as an Adjunct Faculty Member at Seton Hall Law School where he teaches a course on Securities Regulation.

Jessica Hopper is Executive Vice President and Head of Enforcement, responsible for FINRA’s disciplinary actions across the country. Prior to assuming this role in January 2020, she was Senior Vice President and Deputy Head of Enforcement for four years, and Senior Vice President in charge of the Regional Enforcement program in the 14 FINRA District Offices from 2011 to 2016. Hopper joined FINRA in 2004 and was a Director in FINRA’s Washington D.C. office until 2011.

Prior to joining FINRA, from 2000 to 2004, she was part of Legg Mason Wood Walker, Inc.'s Legal & Compliance team, where her responsibilities focused on retail sales compliance. She began her career as a litigation attorney in private practice.

Hopper holds a J.D. from the University of Toledo College of Law and earned a B.A. from Hillsdale College.

Hank Walther is an accomplished investigator and trial lawyer.  He has significant experience investigating and defending Foreign Corrupt Practices Act, health care fraud, securities fraud, False Claims Act, and other financial fraud matters.  As a former federal prosecutor who led large, complex financial fraud and corruption cases at the Department of Justice, Hank often handles sensitive U.S. and cross-border matters that could significantly impact a company's health and reputation.  Hank has conducted financial fraud and corruption investigations in the U.S. and in more than 25 other countries.  He defends companies that are facing criminal prosecution and civil liability from numerous government agencies and civil litigants in multiple countries.