Speaker(s): Christopher D. Christian, Clifford E. Kirsch, James A. Capezzuto, John H. Walsh, Peter M. Rosenblum, Sandra Lu, Sara P. Crovitz, Sharanya Mitchell Recorded on: Sep. 9, 2019
PLI Program #: 247691
Christopher D. Christian advises U.S. and European asset managers and investment funds and their boards of directors, including U.S. registered funds, funds organized under the European Union directive on Undertakings for Collective Investment in Transferable Securities (UCITS), and funds organized in other jurisdictions offered on a private basis.
His practice has a significant international component. He advises offshore funds on compliance with U.S. regulatory requirements and routinely counsels European retail and institutional funds on organization, registration, corporate governance, and global distribution issues. He has assisted clients in coordinating offering advisory services and various types of investment funds in compliance with local law in jurisdictions in Europe, Asia, the Middle East, and Latin and South America.
Mr. Christian is also the architect of Dechert’s World Compass, an innovative marketing compliance subscription service that offers investment firms advice in more than 100 jurisdictions.
Mr. Christian has been recognized in Chambers USA as a leading lawyer for registered funds and in Chambers Global as a Foreign Expert in Ireland. He has also been recognized in The Legal 500 (U.S.) in the area of mutual/registered funds.
He is the former Chair of the International Bar Association's Investment Funds Committee and was recently selected as Chair of the Irish Funds North America Distribution Working Group. He has spent considerable time working in Dechert's London office and is a frequent conference speaker.
Mr. Christian is a graduate of Brandeis University (B.A.), The Catholic University of America, Columbus School of Law (J.D., cum laude) and Georgetown University Law Center (LL.M., Securities and Financial Regulation).
Cliff Kirsch began his career at the U.S. Securities and Exchange Commission (SEC), became chief legal officer for one of the country’s largest dually- registered broker-dealer/advisers and then joined Sutherland (now Eversheds Sutherland) in 2006. He relies on his regulatory and in- house background and an up-to-date knowledge of regulatory developments to provide practical and innovative counsel to broker-dealers and investment advisers in the areas of securities regulation and compliance.
With more than 25 years of experience, Cliff regularly counsels clients on the design and distribution of investment products including wrap-fee programs and other advisory products, mutual funds, bank collective investment funds and insurance products. He also focuses on issues related to the design and implementation of compliance programs at financial services firms.
While at the SEC, Cliff received the Manuel F. Cohen Award, which recognizes younger lawyers who have displayed outstanding legal ability, integrity and judgment and he served as assistant director of the SEC's Division of Investment Management.
Cliff is a frequent speaker at industry conferences, and is the author and editor of two of the leading treatises in the broker-dealer and adviser arena: Broker-Dealer Regulation and Investment Adviser Regulation (published by the Practising Law Institute).
Cliff is also co-founder of the Julia Anne Kirsch Foundation, which seeks to serve the needs of disabled individuals and their families.
Eversheds Sutherland counsels a coalition of major life insurance companies on evolving state and federal regulations and other legal developments.
Eversheds Sutherland represents a coalition of major life insurance companies, which collectively account for more than 80% of the annuity business in the United States, in their efforts to affect the direction and details of various SEC, FINRA, CFTC, NAIC and state rule proposals and initiatives.
Eversheds Sutherland serves as outside counsel on broker-dealer and adviser regulatory issues for one of the largest independent broker-dealer networks in the country. Eversheds Sutherland serves as regular primary outside counsel on broker-dealer and adviser regulatory issues for one of the largest independent broker-dealer networks in the country.
Eversheds Sutherland represents coalition of collective trust fund sponsors, advisers and other service providers.
Eversheds Sutherland serves as counsel to the Coalition of Collective Trust Funds. Among other things, Sutherland monitors and reports on legal and regulatory matters affecting collective trust funds.
Member, New York City Bar Association
Faculty, FINRA Compliance Institute at The Wharton School of the University of Pennsylvania
Former Chair, FINRA Variable Products Committee
Former Board Member, National Society of Compliance Professionals
John Walsh is a 23-year veteran of the Securities and Exchange Commission (SEC), John Walsh joined Eversheds Sutherland (US) in October 2011. With his deep, insider’s experience and perspective of the SEC, John now represents broker-dealers, hedge funds, investment advisers and other securities firms in compliance and regulatory issues involving the agency. He counsels clients on the full spectrum of securities issues from development and compliance to cooperation in examinations and defense in enforcement proceedings.
At the SEC, John played a key role in creating the Office of Compliance Inspections and Examinations (OCIE), which administers examinations of U.S. registered securities entities. He designed and implemented the SEC’s securities compliance examination practices, first as a senior advisor for compliance policy and then, most recently, as associate director-chief counsel. In 2009, he served as OCIE’s acting director and led a massive retraining of examination staff on antifraud techniques.
Prior to his tenure at OCIE, John was special counsel to former SEC Chairman Arthur Levitt from 1993 to 1995. From 1990 to 1993, he worked in the SEC Division of Enforcement, serving first as senior counsel and then as chief of the branch of regional office assistance, where he regularly appeared before the Commission’s closed meetings to present and discuss regional office enforcement cases.
He also advised the commissioners and staff on securities laws and agency policy. John began his career with the SEC in 1988 as an attorney in the Office of General Counsel.
Recognized by The Legal 500 United States in the area of financial services: regulatory(2018)
Recipient, SEC Law and Policy Award (2010-2011)
Recipient, SEC Examination Award of Excellence (2000)
Recipient,SEC Regulatory Simplification Award (1996)
Member, American Law Institute
Peter M. Rosenblum is a partner at Foley Hoag LLP, a co-chair of its Mergers & Acquisitions Group and chairman of its Private Equity Transactions Group. He is actively involved in the firm’s corporate, corporate finance and international practices. His clients include private equity and venture capital funds, registered investment advisers, hedge funds, and other private funds, both onshore and offshore. He is active in representation of investors in private equity, venture capital and other private funds. He has structured and organized numerous partnerships, limited partnerships, limited liability companies and offshore companies employed in the management and ownership of investments in public and private securities and alternative investments. He is principal outside counsel to numerous clients in a broad range of other industries.
Mr. Rosenblum was Chairman of Foley Hoag’s Business Department from 2008 to 2011, a member of its Executive Committee from 2013 to 2016, and Co-Managing Partner from 2000 to 2005. He was Chairman of the Corporate Law Committee of the Boston Bar Association from 1995 to 1997 and Chairman of the Business Law Section of the Boston Bar Association from 1997 to 1999.
Mr. Rosenblum has been listed in The Best Lawyers in America since 1999. He is also listed in Chambers U.S.A.: America’s Leading Business Lawyers for private equity-buyouts and venture capital investment and corporate/mergers and acquisitions and in Legal Media Group’s Guide to the World’s Leading Lawyers for Banking, Finance and Transactional Law for investment funds and private equity, and was listed in Chambers Global: The World’s Leading Lawyers for Business for private equity-buyouts and venture capital investment.
Mr. Rosenblum graduated, summa cum laude, from Amherst College, and received his M.A. in History from Yale University and his J.D., cum laude, from Harvard Law School. Prior to entering the private practice of law, he served as Law Clerk to Chief Justice G. Joseph Tauro of the Massachusetts Supreme Judicial Court. He is Chairman of the Boston Lawyers Group and a member of the Board of Directors of Ceres, Inc. He is a member of the Society of Investment Law.
Mr. Rosenblum has written and lectured on a wide variety of subjects related to investment advisers and private funds. He is the author of “Offshore/Non-U.S. Advisers” and “Overview of Institutional and Offshore Advisory Activity” in C. Kirsch, Investment Adviser Regulation (2006, 2008, 2016) and “Organization of a Private Investment Fund: Basic Structural and Legal Issues” in C. Kirsch, Financial Product Fundamentals (New York 2006, 2009, 2013).
Sara P. Crovitz provides counsel on all aspects of investment company and investment adviser regulation, including global compliance with custody, inducement/soft dollar and privacy provisions.
Sara’s recent speaking engagements:
Panelist, “Mutual Funds and Governance Issues for Regulated Funds,” International Bar Association’s Annual Conference
Panelist, “The Polls Are Open: Reexamining SEC Proxy Voting Requirements,” Investment Company Institute’s Mutual Funds and Investment Management Conference
Panelist, “Regulatory Developments and Compliance Challenges Facing SEC-Regulated Private Funds,” Practising Law Institute’s Private Fund Regulatory Developments and Compliance Challenges Conference
Moderator, “EU/Offshore Regulatory Update,” Practising Law Institute’s Global Investment Funds Program
Prior to joining Stradley Ronon, Sara was Deputy Chief Counsel and Associate Director at the U.S. Securities and Exchange Commission in Washington, DC. Sara worked at the SEC for 21 years, including 17 years in the Division of Investment Management focusing on issues under the Investment Company and Investment Advisers Acts of 1940. While in the Division, Sara supervised the provision of significant legal guidance to the investment management industry through no-action and interpretive letters, exemptive applications, IM guidance updates and other written and oral means. For many years, Sara also led the Division's international efforts, including numerous IOSCO and FSB work streams, such as private fund manager and non-bank systemically important financial institution oversight. She spoke on panels for the International Bar Association and ICI Global.
Sharanya Mitchell is Vice President, Senior Global Regulatory Counsel and Chief Privacy Officer of Cohen & Steers, a publicly-listed and diversified asset manager with offices in US, UK, HK and Japan. Based in New York, she advises on current and upcoming regulatory requirements domestically and internationally, including advising management and boards on trends while offering pragmatic solutions.
Prior to joining Cohen & Steers, Sharanya advised on financial regulation for a wide variety of financial entities at Davis Polk and also acted as counsel at the New York Stock Exchange in New York. Prior to her time in New York, she advised on financial regulation in-house at Banque AIG, the investment bank, in London during the financial crisis. Earlier in her career, she also advised in policy at Her Majesty’s Courts Service in the Ministry of Justice in London.
Sharanya holds a Master of Laws from Columbia Law School with honors, a Bachelor of Laws (Hons) from University of London, an Executive Education Diploma in Capital Markets, Regulation and Compliance from Henley Business School and FINRA International, and a Bachelor of Psychology (Hons) from University of New South Wales.
Sharanya is also an active member of the Institutional Investors Legal Forum, the Investment Company Institute, the Asset Management Group of SIFMA, and the Association of the Bar of the City of New York (serving on the European Affairs Committee), as well as a member of the New York bar.
Ms. Lu has extensive experience in securities investment funds (the “Fund”) and other types of asset management business. In Fund area, Ms. Lu has provided ongoing legal services for nearly 60 domestic and foreign invested securities investment fund management companies and represented dozens of onshore and offshore financial institutions to participate in the establishment, merger and acquisition of securities investment fund management companies. Meanwhile, Ms. Lu acts as the legal advisor for nearly 500 domestic open-ended Funds in the PRC, which involve varieties of Funds including equity fund, hybrid fund, bond fund, money market fund, ETF and many innovative Funds. In addition, Ms. Lu acts as the legal advisor for dozens of QDII Funds offered in the PRC, representing domestic QDII Funds to develop cooperation with well-known offshore banks and global asset managers. Ms. Lu also has extensive experience in the operation of QFII and RQFII and is expert on assisting offshore institutions to apply for QFII and RQFII licenses and providing QFII and RQFII with legal support on ongoing legal and compliance requirements in the PRC.
Ms. Lu has extensive experience in Stock Connect, Bond Connect and Mainland-Hong Kong Mutual Recognition of Funds and is often engaged by offshore asset managers as PRC legal advisor.
Since 2016, Ms. Lu has represented a large number of well-known global asset managers to set up WFOE, QDLP WFOE and PFM WFOE in the PRC and assisted them to obtain different types of business licenses in the PRC and issue various fund products.
Ms. Lu also provides professional legal services for enterprise annuity fund, social security fund and investment mandate. Meanwhile, Ms. Lu acts as the legal advisor of kinds of asset management products issued by commercial banks and trust companies. Ms. Lu represents onshore and offshore financial institutions to provide legal services for the establishment and acquisition of joint venture securities companies as well.
Ms. Lu is often invited by regulators to provide legal advice on the latest legislation. Moreover, Ms. Lu frequently provides training on PRC asset management business for fund industry associations in Mainland China, Hong Kong, the United States and Luxembourg.
James Capezzuto is the chief compliance officer for Oppenheimer Asset Management and its affiliated advisers. Previously, Mr. Capezzuto was an associate regional director at the Securities and Exchange Commission, responsible for the New York regional investment adviser and investment company exam programs. He has also served as a chief compliance officer at New York Life Investors, US counsel and chief compliance officer at Aberdeen Asset Management, senior counsel at UBS Global Asset Management, chief compliance officer at Banc of America Alternative Strategies and senior counsel at Deutsche Bank/Morgan Grenfell Asset Management. Mr. Capezzuto received his JD from New York Law School and his BA in English from the University at Buffalo. He has over 25 years of legal and compliance experience in the asset management industry.