Skip to main content

FinTech 2020

Speaker(s): A. Kristina Littman, Alma M. Angotti, Andras P. Teleki, Angela Angelovska-Wilson, Annemarie Tierney, Barbara A. Stettner, Brian S. Trackman, Chris Setaro, Daniel Alter, Deborah Connor, Derek Newman, Elizabeth N. Pendleton, Haimera Workie, John Zecca, Matthew Hays, Michael Sherman, Neelanjan Maitra, Paul D Glenn, Robert H. Ledig, Rochelle G Kauffman Plesset, Sandra M. Hanna
Recorded on: Aug. 10, 2020
PLI Program #: 277883

Alma Angotti is a Managing Director and Co-Head of the Global Investigations & Compliance practice. With over 25 years of regulatory practice, Ms. Angotti has held senior enforcement positions at the SEC, Treasury’s Financial Crimes Enforcement Network (FinCEN) and FINRA (Financial Industry Regulatory Authority). In these positions, she was responsible for conducting investigations involving securities fraud, insider trading, financial fraud, anti-money laundering (“AML”) and counter terrorist financing, market manipulation, investor and market protection, and other regulatory violations.  At FinCEN and FINRA, she designed and lead the AML enforcement programs.  She regularly worked with criminal prosecutors in a variety of jurisdictions and the U.S. Department of Justice to investigate and bring actions jointly.

Ms. Angotti has counselled her clients, large global financial institutions, multinational companies, smaller financial institutions, broker-dealers and Fintech companies, in a variety of projects, including gap analyses, compliance program reviews, risk assessments, remediation efforts, investigations and transaction reviews. Recently, she held interim senior compliance leadership positions at several global and regional financial institutions providing day-to-day management of their compliance programs and assisting them with implementing enhancements, often in the context of a regulatory or criminal enforcement action. 

She has trained and advised the financial services industry as well as other regulators and government officials worldwide on AML, sanctions, and combating the financing of terrorism (CFT) and other regulatory compliance issues.

András Teleki is the managing member of the Teleki AML and Cybersecurity Law Firm based in Washington, DC.  He also serves as the Chief Legal Officer and Head of Compliance for M3Sixty Administration and oversees internal and external firm legal and compliance matters.  András Teleki received his Juris Doctorate from Tulane Law School in 1998 and is admitted to practice in New York and the District of Columbia.   He is a frequent speaker on topics impacting the investment management industry. 

Prior to founding the Teleki AML and Cybersecurity Law Firm and joining M3Sixty, Mr. Teleki was a partner at the law firm of K&L Gates where he was a member of the Investment Management group from 2001 to 2015.  His practice focused on regulatory and compliance issues facing registered investment companies, including mutual funds and closed-end funds, broker-dealers, investment advisers, unregistered funds, variable insurance product issuers and distributors, and related service providers. He also advised insurance companies on variable insurance and other registered products and financial institutions on anti-money laundering, OFAC, cybersecurity, privacy, social media and financial technology issues. Mr. Teleki also has experience conducting internal investigations and working on regulatory enforcement matters with the SEC and FINRA.

Barbara Stettner is the Head of Allen & Overy’s US Financial Services Regulatory Practice, a member of the Global Financial Services Regulatory Steering Committee, and a member of the Global Board. Barbara's practice focuses on advising U.S. and foreign financial institutions on their regulatory and compliance obligations under the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, and the Bank Secrecy Act. Barbara has extensive experience representing foreign and domestic banks, asset managers, and broker-dealers on the various regulatory obligations of domestic and cross-border securities distributions and fundraising activities, including broker-dealer, investment adviser, finder and placement agent status questions, sales practice requirements, research, and custody arrangements. She regularly applies this experience in the Fintech and digital asset space to various custodians, “robo advisers,” “crowdfunding platforms,” and DLT (“blockchain”) or other digital securities distribution and trading platforms. She has a particular focus on the interstitial and complex regulatory issues that arise between bank, broker-dealer, and investment adviser affiliates who provide services to the same clients.

Before entering private practice, she worked at the SEC’s Division of Market Regulation (now Trading and Markets), where she served as Special Counsel in the Office of the Chief Counsel and as an Attorney-Advisor in the Office of Risk Management and Control. She also served as Senior Counsel in the Commission’s Office of International Affairs, where she worked on a multi-country committee to produce the first IOSCO paper addressing cross-border securities transactions over the Internet.  At the SEC and in private practice, Barbara served with the Financial Services Volunteer Corp, providing pro bono technical assistance to emerging markets on the regulatory and supervisory systems of markets and market intermediaries, including Jordan, the UAE, Russia, and Romania. She is a current member of the Board of Advisors of the SEC’s Historical Society.  

Barbara is widely recognized as a leading regulatory lawyer, having been recognized in Chambers USA in both Securities: Regulation: Advisory and Financial Services Regulation: Broker Dealer (Compliance). According to Chambers USA, Barbara is described as "an amazing broker-dealer attorney" by market commentators and impresses with the breadth of her advisory practice, which encompasses state and federal broker-dealer regulations and securities laws. A client says: "She is extremely knowledgeable and also not afraid to push the envelope to improve the regulatory environment."

Michael L. Sherman is a partner in Dechert’s financial services practice group. He focuses his practice 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. He is a frequent conference speaker and author of numerous articles on related topics.

Mr. Sherman is a graduate of American University (B.A., cum laude) and Vanderbilt University Law School (J.D., associate authorities editor of the Vanderbilt Journal of Transnational Law). He is a member of the Maryland and District of Columbia Bars.

Annemarie Tierney is the Founder and Principal of Liquid Advisors, a consulting firm offering strategic advisory services around private placements and secondary liquidity structuring and regulatory requirements, including for digital or token-based securities.  Previously, Annemarie was the Chief Strategy Officer and General Counsel of Templum, Inc., a registered broker dealer/alternative trading system approved to conduct primary offerings and secondary trading in unregistered digital securities.  Annemarie is a seasoned financial services lawyer/strategist with substantial SEC, law firm, and in-house legal experience, as well as experienced in broker dealer regulation, blockchain legal and regulatory issues, securities transactional work, SEC rules and regulations, corporate governance, and international expansion.  Annemarie has led a broad range of regulatory and legislative thought leadership initiatives in the private issuer space and is a frequent speaker on a range of private market topics.  Annemarie previously served as Head of Strategy at Nasdaq Private Market and as the General Counsel of SecondMarket, Inc., now Digital Currency Group.  Annemarie has also worked at the Securities and Exchange Commission, Skadden Arps Slate Meagher & Flom, the NYSE and NYFIX.  She is a member of the Board of Directors of the Association of SEC Alumni and a former member of the SEC’s Advisory Committee on Small and Emerging Companies.   She earned her BA/BS in Finance and International Relations from the Alfred Lerner College of Business and Economics at the University of Delaware and her JD from the Catholic University of America.  Annemarie is also FINRA series 7 and 24 licensed.

As Executive Vice President and Global Chief Legal and Regulatory Officer, John Zecca is responsible for providing legal counsel to senior management and for overseeing the quality of legal services across the global organization. John is also responsible for market regulation and the Office of Corporate Secretary.

John’s career spans market regulation, corporate law, corporate governance, and market structure. He most recently served as Nasdaq’s General Counsel North America and Chief Regulatory Officer, responsible for Nasdaq’s corporate law, intellectual property and regulatory teams that maintain fair, orderly markets and protect investors.

Prior to joining Nasdaq in 2001, John served as legal counsel to a commissioner of the Securities and Exchange Commission and practiced corporate securities law at both Hogan Lovells and Kaye Scholer. Before that role, he served as a law clerk for the Honorable John H. Pratt of the United States District Court for the District of Columbia.

John receivedhis Bachelor of Science degree from Cornell University and his Juris Doctor from the University of California, Hastings College of the Law. He is a member of the bar in the District of Columbia and California, and a licensed solicitor in England and Wales. He is based in Washington, D.C.

Chris Setaro is the Global Chief Compliance Officer of SharesPost, Inc. and Chief Compliance Officer for SharesPost Financial Corporation, an SEC-registered broker-dealer and alternative trading system. Before joining SharesPost, Chris was Chief Compliance Officer for Nasdaq, Inc.’s five U.S. broker-dealer subsidiaries whose businesses included equities and options routing, U.S. Treasury securities trading, private company liquidity programs and issuer advisory services, , and Vice President of Nasdaq, Inc. overseeing the compliance staff for its registered investment advisor. Prior to Nasdaq, Chris held various positions at Instinet Incorporated, most recently as Chief Compliance Officer for Instinet, LLC.

Daniel Alter is a Shareholder in the New York office of Murphy & McGonigle, P.C., who advises clients on a wide range of fintech regulatory matters and represents them in related litigation.  Previously, Danny was the first General Counsel for the New York Department of Financial Services and was one of the primary architects of New York’s regulatory scheme for virtual currencies.  He was also General Counsel to itBit (now Paxos), which is a New York Stated chartered trust company specializing in blockchain solutions for the financial services industry that also provides a fully regulated crypto exchange platform.

Deborah is Chief of the Money Laundering and Asset Recovery Section (MLARS) in the Criminal Division of the Department of Justice.  MLARS leads the Department’s anti-money laundering and asset forfeiture enforcement efforts, providing leadership in the prosecution and coordination of complex, sensitive, multi-district money laundering and asset forfeiture prosecutions. Deborah has been a criminal prosecutor with the Department of Justice for 24 years.  Prior to joining MLARS, Deborah served for more than 16 years as an Assistant United States Attorney in the U.S. Attorney’s Office for the District of Columbia.  Prior to joining the U.S. Attorney’s Office Deborah was a Trial Attorney in the Antitrust Division and an Associate at a large D.C. law firm.  She is an adjunct professor of Trial Advocacy at Georgetown University Law Center where she graduated with a J.D. cum laude in 1994.

Elizabeth N. Pendleton (Liz) is a Chief Trial Attorney in the U.S. Commodity Futures Trading Commission’s Division of Enforcement in the Chicago office. Liz supervises a team of trial attorneys and investigators and represents the Division in enforcement actions that are filed in the United States District Courts. She is also the co-chair of the Division’s Digital Asset Task Force, where she advises the Director on legal and policy issues in the digital asset space and coordinates investigative resources across the CFTC offices. Liz has led a broad range of enforcement activities including cryptocurrency fraud and manipulation, trade practice violations, Ponzi schemes, and other abuses concerning commodity derivatives and swaps that threaten market integrity. Liz serves as the CFTC’s representative on the intra-agency Midwest Cryptocurrency Task Force, a collaborative law enforcement group that identifies and investigates individuals and criminal enterprise groups responsible for financial crimes involving digital assets. Prior to joining the CFTC, Liz spent several years in private practice representing clients in the technology, digital media, financial, manufacturing, and music industries; and clerked for a federal judge.  Liz graduated from Kenyon College and Boston College Law School. 

Haimera Workie is the Head of Financial Innovation and Senior Director at FINRA.  In this capacity, he is responsible for leading FINRA’s Office of Financial Innovation, which focuses on analyzing financial technology (FinTech) innovations and emerging risks and trends related to the securities market. As part of these responsibilities, Mr. Workie works to foster an ongoing dialogue with market participants in order to build a better understanding of FinTech innovations and their impact on the securities markets.  Previously, Mr. Workie served as Deputy Associate Director in the Division of Trading and Markets at the U.S. Securities and Exchange Commission. Mr. Workie also previously served as Counsel in the SEC Office of the Chairman. Prior to joining the SEC, he was an associate at the law firm of Skadden, Arps, Slate, Meagher & Flom, with a practice focusing on corporate law. He is a graduate of the Massachusetts Institute of Technology (B.S., M.S.) and Harvard Law School (J.D.).

Kristina Littman is the Chief of the Division of Enforcement’s Cyber Unit, a national, specialized unit that focuses on protecting investors and markets from cyber-related misconduct. Ms. Littman joined the SEC’s Division of Enforcement in 2010 in the Philadelphia office.  She has held senior attorney positions in SEC Chairman Jay Clayton’s office, the Trial Unit, and the Market Abuse Unit. Prior to joining the SEC, Ms. Littman practiced law at Drinker Biddle & Reath LLP, specializing in white collar and securities litigation. Ms. Littman earned her J.D. and M.B.A. from Rutgers University School of Law – Camden and an undergraduate degree from Florida State University.

Matthew R. Hays leads Dechert's asset-backed securitization team. Mr. Hays has considerable experience with matters across a broad range of asset classes relating to structured finance transactions, warehouse facilities, asset sale transactions, as well as public and private securitization transactions. He represents clients in numerous industries such as automotive finance, banking, technology and manufacturing. 

Mr. Hays regularly provides insight on FinTech and marketplace lending at conferences around the country, including the ABS East Conference, SFIG Conference, and Lend360 Conference. Prior to joining Dechert, Mr. Hays was a corporate partner at a large global law firm.  

Mr. Newman serves as Senior Regulatory Counsel at Motley Fool Wealth Management, LLC.   He advises the company and its advisory affiliates on a variety of regulatory, corporate and business matters, including compliance with U.S. laws and regulations governing the operations of registered investment companies and investment advisers.

Before joining Fool Wealth, Mr. Newman served as Associate General Counsel with a global asset management firm, followed by an assignment in the SEC’s Division of Investment Management. Mr. Newman spent most of his career as a corporate and securities associate in the Washington, D.C. and Hong Kong offices of a prominent U.S. financial services law firm.

Mr. Trackman has a longstanding interest in law and technology.  He began his career conducting research in Central America to support digitalization and reform of the national land registries.  After work in private practice, Mr. Trackman joined the Securities and Exchange Commission, where he reviewed novel derivative securities products.  He was on the team that analyzed the Gold ETF, the first commodity asset-backed exchange traded fund, and developed standards to permit listing of similar products.  He later oversaw the registration program for alternative trading systems.  Following the financial crisis, Mr. Trackman contributed to the Dodd-Frank implementation effort at the SEC and then the Commodity Futures Trading Commission.  In 2017, Mr. Trackman joined the effort to help stand up the CFTC’s new innovation office, LabCFTC.  LabCFTC seeks to promote responsible innovation through engagement with innovators, education, and policy development.  Now as Senior Counsel to LabCFTC, Mr. Trackman advises on a wide range of fintech topics and provides thought leadership on potential impacts of new technology.

Neel is a Senior Special Counsel and is the Crypto Specialist in the Division of Trading and Markets, where his work focuses on initial coin offerings, as well as broker-dealer, fund-related and exchange/ATS matters relating to digital assets and DeFi, as well as fintech more generally.

Neel received a Bachelor of Civil Laws degree from Oxford University in 2004, and a Juris Doctor degree from Columbia Law School in 2010. Prior to joining the Commission, Neel worked as a corporate and securities law associate at Sullivan and Cromwell LLP.

Robert Ledig has been a partner at Vartanian & Ledig, PLLC, a Washington, D.C. financial services law firm since 2018.  He has extensive experience in banking and financial services regulation and related financial technology, privacy and information security, corporate, securities, administrative law and litigation matters.  He has written and spoken widely on financial services issues.

He is an editor and author of a number books including: The Volcker Rule: Commentary and Analysis (Thomson Reuters 2014), Dechert LLP’s Analysis of Financial Regulatory Reform [Dodd-Frank Act] for the American Bankers Association (2010), 21st Century Money, Banking & Commerce (1998), Management of Risks Created by Internet-Initiated Value Transfers (National Automated Clearing House Association 1995), The Fair Lending Guide (Glasser Legal Works 1995), and Contracting with the RTC and FDIC (Prentice Hall Law and Business 1991).  He was Chair of the Electronic Financial Services Subcommittee of the Cyberspace Committee of the American Bar Association.

He was Director of the Program on Financial Regulation & Technology and a Professor of Law at George Mason University’s Scalia Law School from 2018 to 2021.  He taught classes on FinTech, Regulation of Financial Institutions, Banking Law and Privacy and Information Security Law.

He practiced law at Dechert LLP and Fried Frank Harris Shriver & Jacobson LLP from 1984 to 2018.  Prior to that he was an attorney at the Federal Home Loan Bank Board.   

He has a J.D. from George Washington University Law School and a B.A. from Harpur College at the State University of New York at Binghamton.

Rochelle Kauffman Plesset is a Senior Counsel in the Chief Counsel's Office in the SEC’s Division of Investment Management. During her long career at the SEC, Rochelle has been involved in all aspects of investment company and investment adviser regulation, participating in a variety of rulemaking and interpretive initiatives for the Division. Notably, she drafted rules under the Investment Company Act that address the status of asset-backed issuers and investment advisory programs under that Act. Rochelle was primarily responsible for researching and drafting Chapter 1, The Treatment of Structured Finance under the Investment Company Act, in the Division’s report, Protecting Investors: A Half Century of Investment Company Act Regulation.  She also participated in the drafting of the staff report, Implications of the Growth of Hedge Funds. More recently, Rochelle was a prime drafter of the Division’s guidance on robo-advisers. For her efforts, Rochelle was awarded the SEC Staff Excellence Award in June 2018.

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.