U.S. SECURITIES & EX Acting Director, Office of Compliance Inspections and Examinations– OCIE CHANGE COMMISSION
U.S. SECURITIES & EXCHANGE COMMISSION
Pete Driscoll was named Acting Director of the U.S. Securities and Exchange Commission's Office of Compliance Inspections and Examinations (OCIE) in January 2017, after serving as OCIE's first Chief Risk and Strategy Officer since March 2016. Mr. Driscoll was previously OCIE's Managing Executive from 2013 through February 2016.
He joined the Agency in 2001 as a staff attorney in the Division of Enforcement in the Chicago Regional Office and was later a Branch Chief and Assistant Regional Director in OCIE's Investment Adviser and Investment Company examination program.
Prior to the Agency, Mr. Driscoll began his career with Ernst & Young LLP and held several accounting positions in private industry. He received his B.S. in Accounting and law degree from St. Louis University. He is licensed as a certified public accountant and is a member of the Missouri Bar Association.
Deputy Chief, Structured New Products Unit, Division of Enforcement
U.S. Securities and Exchange Commission
Reid A. Muoio is the Deputy Chief of the Complex Financial Instruments Unit within the SEC's Division of Enforcement. Mr. Muoio supervised numerous investigations involving the sale of complex financial instruments, including cases involving the sale of structured notes to retail investors; the sale of securities-based swaps to retail investors over the internet; an ETF switching/churning case; insider trading investigations involving contracts-for-differences; the first case against a major credit rating agency for misconduct in the rating of CMBS; and financial crisis era CDO cases against Goldman Sachs, Citigroup, JP Morgan, Mizuho and Wells Fargo/Wachovia and related culpable individuals. He is a graduate of Williams College and Yale Law School.
ALABAMA SECURITIES COMMISSION
Joseph Borg has been Director of the ASC since 1994. Mr. Borg is twice past president of the North American Securities Administrators Association (NASAA), serves as a member of its Board of Directors, served as Chair of NASAA's International Committee and as Chair of Enforcement. He currently is a member of the Board of Directors of the National White Collar Crime Center (NWCCC) and previously served as a member of the Board of Directors of the Investor Protection Trust (IPT).
Borg has 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 GSEs 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.
Managing Director, Associate General Counsel
Everett Seymour, Managing Director and Associate General Counsel, JPMorgan Chase & Co. (1997-present). Head of Structured Investments - Americas practice group in the Legal Department supporting the Corporate & Investment Bank. Chair of SIFMA Issuers' Committee for Retail Structured Products (2011-present); Co-Chair of JPMorgan Continuing Legal Education Program (2004-present). Previous employment: Associate, Davis Polk & Wardwell; Clerk to Federal District Court Judge (CT). Education: University of Virginia Law School, JD (Law Review); Yale College, BA cum laude.
Vice President and Senior Counsel
Travis Batty is a Senior Counsel in Deutsche Bank's Global Equities Legal Department with primary legal coverage of the firm's US structured note, index-linked insurance, proprietary index and related equity derivatives businesses. Mr. Batty is also a co-chair of the Global Deutsche Bank Structured Products Legal Working Group. Before joining Deutsche Bank, Mr. Batty spent over 9 years in the Capital Markets practice at Sidley Austin LLP in New York.
NORTH AMERICAN SECURITIES ADMINISTRATORS ASSOCIATION
A.Valerie Mirko is the General Counsel of the North American Securities Administrators Association (NASAA). In her role, Ms. Mirko supervises the efforts of NASAA's Legal Department in its support of all aspects of NASAA's mission, including internal governance, member support, and external advocacy and outreach. Ms. Mirko focuses much of her work with U.S. state securities regulators on matters pertaining to investment adviser regulation and oversight, multistate enforcement investigations and settlements, and registration and disclosure requirements for broker-dealers and investment advisers. Ms. Mirko is also actively engaged in emerging regulatory issues relating to cybersecurity, technology and social media. Ms. Mirko joined NASAA's Legal Department in 2012 and most recently served as Deputy General Counsel. Prior to joining NASAA, Ms. Mirko was in private practice for several years in Washington, DC, where she counseled SEC-registered investment advisers on regulatory issues and represented broker-dealers and investment advisers subject to investigations by the SEC and FINRA. Prior to private practice, Ms. Mirko worked in-house in New York in legal and compliance roles at Oppenheimer and Co. Inc. and Merrill Lynch (now Bank of America Merrill Lynch). Ms. Mirko earned her undergraduate degree at Wellesley College, and completed her J.D. at George Washington University Law School. She is a member of the New York and District of Columbia bars and is on the adjunct faculty at George Washington University Law School. Ms. Mirko is a regular speaker at NASAA and industry conferences and roundtables.
David I. Fasman
Senior Vice President and Assistant General Counsel
David I. Fasman is a Senior Vice President and Assistant General Counsel in the Capital Markets Group at Citigroup Global Markets Inc. Mr. Fasman has broad experience representing public and private companies as issuers in public offerings and private placements of debt and equity securities, including initial public offerings, private placements of high-yield and investment grade debt securities to institutional investors under Rule 144A, public-for-private exchange offers, and private placements. He has also represented underwriters in public offerings and placement agents in private placements. He is the primary counsel to the structured products businesses at Citigroup and advises on all aspects of the issuance of structured products registered under the Securities Act of 1933 and exempt from registration pursuant to Regulation S, Rule 144A and Section 3(a)(2). Mr. Fasman works with trading, structuring and sales personnel in the equity derivative markets, focusing on the design, structuring and sale of new products linked to proprietary indices, equities, commodities, interest rates, credit, FX and other underlying assets. He advises on Securities Act of 1933, Securities Exchange Act of 1934, Regulation D, Regulation M, FINRA rules, Investment Company Act of 1940, Investment Advisers Act of 1940, ERISA and broker-dealer issues.
Mr. Fasman received his J.D. from Boston University School of Law in 2008 where he was an Editor for the Review of Banking and Financial Law and his B.A. from New York University, summa cum laude, in 2005 where he was elected to Phi Beta Kappa.
Senior Of Counsel
Morrison & Foerster
Hillel Cohn specializes in securities regulatory matters, including representation of foreign banking organizations, broker-dealers and investment advisers on securities compliance and regulatory issues. Mr. Cohn assists such clients with designing their operations and products to comply with applicable laws, provides advice on securities compliance issues and provides counsel in their dealings with the SEC, FINRA and other U.S. regulatory authorities. In addition, he has worked on a number of acquisitions, joint ventures, correspondent agreements, financings and restructurings of broker-dealers and investment advisers.
Mr. Cohn also advises public companies with respect to corporate governance, SEC compliance, securities offerings, mergers, acquisitions, and joint ventures. He has extensive experience handling public offerings of equity, debt and real estate securities and has also represented a number of emerging technology and life science companies in dozens of venture financings.
Mr. Cohn assists public companies ranging from small-cap issuers to NYSE listed companies with SEC reporting and compliance. Mr. Cohn has counseled a number of public companies with respect to the design and implementation of corporate governance policies and procedures. He also has acted as special counsel to special Board committees appointed to evaluate strategic options, including going private proposals, conduct internal investigations, or review proposed related party transactions.
Mr. Cohn assists public and private companies with mergers, acquisitions, joint ventures and similar transactions, with notable experience in handling cross border acquisitions and international investments. He has assisted a number of U.S. companies in establishing business operations in China through joint ventures and other business arrangements and he has represented a number of Japanese companies in their acquisitions of publicly held U.S. companies.
Prior to joining the firm, Mr. Cohn worked for the SEC for seven years and in private practice for 23 years. He has also been named as a 2007-2015 Best Lawyer in America in the field of Securities Law and listed in Super Lawyers magazine from 2004-2013. Mr. Cohn serves on the Greater Los Angeles Division Board of Directors of the American Heart Association.
Chief Administrative Officer and General Counsel, Legal and Compliance
Brad Busscher is the Chief Administrative Officer and General Counsel of Incapital Holdings LLC. Prior to Incapital, Brad was General Counsel of Mesirow Financial, held senior level positions at EVEREN Securities and Van Kampen Investments. He previously served as an Enforcement Branch Chief for the Securities and Exchange Commission. Brad has a BA from Cornell University, a JD from the University of Miami, and an MBA from the University of Chicago.
STRUCTURED PRODUCTS ASSOCIATION
Morrison & Foerster
Remmelt Reigersman is a partner in the New York office and a member of the firm's Tax Department.
His practice is concentrated on federal and international tax matters. Mr. Reigersman advises on a wide variety of sophisticated capital markets transactions and represents issuers, investment banks/financial institutions, and investors in financing transactions, including public offerings and private placements of equity, debt and hybrid securities, as well as structured products. Mr. Reigersman's areas of expertise further include restructurings (both in and out of bankruptcy), debt and equity workouts as well as domestic and international mergers, acquisitions, reorganizations, and joint ventures.
Managing Director, Head of US Retail Structured Products
Scott Kerbel is a Managing Director and Head of US Retail Structured Products at HSBC Bank USA, N.A. His responsibilities include origination and marketing of structured investment solutions into a wide variety of US broker-dealer distribution channels.
Prior to his work in structured products, Scott was a foreign exchange derivative trader at HSBC as well as other large international banks in London, New York and Tokyo.
Scott has a BBA in Finance from The George Washington University in Washington, DC.
MORRISON & FOERSTER LLP
Anna Pinedo has concentrated her practice on securities and derivatives. She represents issuers, investment banks/financial intermediaries, and investors in financing transactions, including public offerings and private placements of equity and debt securities, as well as structured notes and other hybrid and structured products.
Ms. Pinedo works closely with financial institutions to create and structure innovative financing techniques, including new securities distribution methodologies and financial products. Ms. Pinedo has particular financing expertise in certain industries, including working with technology-based companies, telecommunications companies, healthcare companies, financial institutions, REITs and consumer finance companies. Ms. Pinedo has worked closely with foreign private issuers in their securities offerings in the United States and in the Euro markets. She also works with financial institutions in connection with international offerings of equity and debt securities, equity- and credit-linked notes, and hybrid and structured products, as well as medium-term note and other continuous offering programs.
In the derivatives area, Ms. Pinedo counsels a number of major financial institutions acting as dealers and participants in the commodities and derivatives markets. Ms. Pinedo advises on structuring issues, as well as on regulatory issues, including those arising under the Dodd-Frank Act. Her work focuses on foreign exchange, equity and credit derivatives products, and structured derivatives transactions. Ms. Pinedo has experience with a wide range of transactions and structures, including collars, swaps, forward and accelerated repurchases, forward sales, hybrid preferred stock, and off-balance sheet structures. Ms. Pinedo also has advised derivatives dealers regarding their Internet sites and other Internet and electronic signature/delivery issues, as well as on compliance matters.
Ms. Pinedo regularly speaks at conferences and participates in panel discussions addressing securities law issues, as well as the securities issues arising in connection with derivatives and other financial products. She is the co-author of JOBS Act Quick Start, published by International Financial Law Review (2013, 2014, updated 2016), contributor to OTC Derivatives Regulation Under Dodd-Frank: A Guide to Registration, Reporting, Business Conduct, and Clearing (Thomson Reuters, 2014, second ed. 2015, 2016 ed.), co-author of Considerations for Foreign Banks Financing in the US, published by International Financial Law Review (2012, updated 2014, 2016), Liability Management: An Overview (2011, updated 2015), published by International Financial Law Review, co-author of Covered Bonds Handbook, published by Practising Law Institute (2010, updated 2012-2014), co-author of the treatise Exempt and Hybrid Securities Offerings, published by Practising Law Institute (2009, second ed. 2011) and also co-author of BNA Tax and Accounting Portfolio, SEC Reporting Issues for Foreign Private Issuers (BNA Accounting Policy and Practice Series, 2009, second ed. 2012, updated 2016). Ms. Pinedo is also a contributing author to Broker-Dealer Regulation (2011, second ed. 2012), published by Practising Law Institute. Ms. Pinedo co-authored "The Approaches to Bank Resolution," a chapter in Bank Resolution: The European Regime (Oxford University Press, 2016). Ms. Pinedo contributed to The Future of Bank Funding and Capital: Solutions for Issuers, Opportunities for Investors (IFR Market Intelligence, 2009). Additionally, Ms. Pinedo co-authored "The Ties that Bind: the Prime-Brokerage Regulation," a chapter in Global Financial Crisis (Globe Law and Business, 2009) and "The Law: Legal and Regulatory Framework," a chapter in PIPEs: A Guide to Private Investments in Public Equity (Bloomberg, 2006).
Ms. Pinedo has been included in Best Lawyers in America, Euromoney's Expert Guide for Capital Markets and Expert Guide for Women in Business Law, Super Lawyers, Crain's New York Business "Forty Under 40," Investment Dealer's Digest "Forty Under 40" and Hispanic Business's "100 Most Influential Hispanics." Ms. Pinedo has been ranked by Chambers USA as one of America's leading capital markets-derivatives and capital markets-structured products lawyers and has been recognized as a notable lawyer for financial services regulation-broker dealer (compliance). Chambers Global has ranked Ms. Pinedo as one of the world's leading lawyers (recommended in capital markets-derivatives). Ms. Pinedo has also been cited as a recommended lawyer for capital markets in the IFLR1000 Guide to Leading Lawyers, and as a recommended lawyer by The Legal 500 US for her work in capital markets: debt, equity, and global offerings, as well as structured finance and REITs. Ms. Pinedo was a recipient of the Burton Award for Legal Achievement in 2007, 2009 and 2011 which honors excellence in legal writing. Ms. Pinedo was also a winner of the 2013 Euromoney LMG Americas Women in Business Law Awards as the Leading Lawyer in the Americas in the category of Structured Finance, which includes Derivatives.
Ms. Pinedo is a member of the American Bar Association's Committee on the Federal Regulation of Securities, a member of the subcommittee on Disclosure and Continuous Reporting, vice-chair of the subcommittee on Securities Registration, and a member of the task force on the future of securities regulation. She has participated in the drafting committee for the ABA's comment letters on such topics as securities offering reform, revisions to accelerated filing, smaller public company proposals, and various JOBS Act related matters. Ms. Pinedo also is a member of the ABA Committee on the Regulation of Futures and Derivatives Instruments. Ms. Pinedo is a chair of the Structured Products Association Legal, Regulatory and Compliance Executive Committee. She is a member of the Mortgage Bankers Association's Mortgage REIT Council and a member of the MBA's Secondary & Capital Markets Committee.
Ms. Pinedo is a member of the George Washington University Center for Law, Economics & Finance Advisory Board. Ms. Pinedo is a member of the Visiting Committee of the Law School of the University of Chicago. Ms. Pinedo was a member of the University of Chicago Legal Forum during her time at the University of Chicago Law School.
Morrison & Foerster
Lloyd Harmetz focuses on securities offerings and other corporate transactions for U.S. and non-U.S. companies. His experience includes public offerings, private placements and PIPEs offerings of equity and debt securities, in which he represents both issuers and underwriters.
Mr. Harmetz's practice focuses on securities offerings by financial institutions, including investment grade securities and structured products linked to equities, commodities, interest rates and other underlying assets. His practice also specializes in structuring continuous offering programs that are registered under the Securities Act, or that are exempt from registration under Regulation S, Rule 144A and Section 3(a)(2) of the Securities Act.
Many of the transactions in which Mr. Harmetz has participated have involved companies in technology-driven industries, such as internet infrastructure and content, computer software development, life sciences, medical care products and telecommunications. His counseling practice includes advice with respect to all aspects of the U.S. securities laws, corporate governance and other corporate matters.
Mr. Harmetz is co-author of Considerations for Foreign Banks Financing in the US, published by International Financial Law Review (2012, updated 2014).
Mr. Harmetz previously was based in Morrison & Foerster's Tokyo, Hong Kong and Beijing offices, and between October 1998 and May 1999, he was seconded to the firm of Fischer, Behar, Chen & Co., in Tel Aviv, Israel.
Managing Director, Capital Markets
Sean C. Davy is a Managing Director in the Capital Markets Group of The Securities Industry and Financial Markets Association (SIFMA) in New York. Sean joined SIFMA in 2008 and is responsible for coordinating and leading industry responses to regulatory and legislative developments in the primary/new issue markets for both debt and equity and secondary markets for corporate credit and related products. In that capacity Sean leads the initiatives related to structured products. Sean has as a diverse financial services background, with prior roles in trading, banking, and product and relationship management at Credit Suisse, HSBC and Deutsche Bank. Sean holds a Bachelor of Arts in Economics from Villanova University and an MBA from Columbia Business School.
Morrison & Foerster
Jeremy is a partner in the Capital Markets Group of Morrison & Foerster, based in London. His practice focuses on securities, structured products and derivatives, as well as advising on European and UK financial regulation. Jeremy qualified as an English solicitor in 1993 and has previously practised in Japan, Singapore and Thailand, in addition to the United Kingdom.
Senior Counsel, Law Department
Oggie received his J.D. degree from Boston College Law School, where he was Managing Editor of the Law Review. He also holds a Master of Laws degree in taxation and an MBA in finance, both from New York University. His undergraduate degree is from Tufts University, where he majored in Economics.
Bank of America Merrill Lynch
Ray Doherty is a Director at Bank Of America Merrill Lynch. He is part of the Investors Group within Cross Asset Solutions and Strategies.
He heads the AMRS Structured Note distribution channel for Institutional and 3rd Party distribution and also focuses on Family Offices and Pension and Endowment solutions.
Ray previously worked in US Rate Structuring and Emerging Markets (London) for Merrill Lynch.
Morrison & Foerster
Bradley Berman is Of Counsel in the Capital Markets Group. Mr. Berman represents domestic and non-U.S. issuers on domestic and international securities offerings of structured products linked to equities, commodities, interest rates, currencies and other underlying assets. Mr. Berman has extensive experience with exchange traded notes. He advised Royal Bank of Canada and RBC Capital Markets, LLC on the first exchange traded note issued by a Canadian issuer into the United States, and has since advised Royal Bank of Canada on a second exchange traded note. He also represented a non-U.S. frequent issuer on all of their exchange traded notes for three years. Mr. Berman advises issuers on shelf registration statements and medium term note programs and issuances exempt from registration under Regulation S, Rule 144A or Section 3(a)(2). Mr. Berman worked on many bank note issuances by state and national banks. Mr. Berman also advises broker-dealers on the FINRA communication rules and suitability issues. His work previously involved capital-raising debt and equity transactions for large bank holding companies, including several common stock issuances. He has extensive experience with negotiating underwriting, distribution, and dealer agreements and related deal documents, including indentures. Recently, Mr. Berman advised an issuer on establishing a registered structured warrant program, including post-effectively amending their registration statement to add a new class of warrants and drafting the issuer's first warrant indenture. Mr. Berman is co-author of Considerations for Foreign Banks Financing in the United States (2012, updated 2014, 2016), published by the International Financial Law Review.Education Rochester Institute of Technology (B.F.A.) Fordham University School of Law (J.D., 1995).
Executive Director, Financial Markets
B. Salman Banaei is an Executive Director and Head of Government and Regulatory Affairs for the Americas at IHS Markit. Before joining IHS Markit, Salman served at the U.S. Commodity Futures Trading Commission (CFTC) where he most recently served as an advisor to a CFTC commissioner. Salman began his professional career in Paris and has worked for law firms in Denver and Abu Dhabi. Salman is also a regular lecturer and subject matter expert for Commodities and Derivatives Law at the J.P. Morgan Center for Commodities. He serves on the Editorial Advisory Board of the Global Commodities Applied Research Digest. Salman holds degrees from the University of Virginia, University of Denver - Sturm College of Law, Colorado School of Mines (M.S. in Mineral and Energy Economics), and the Institut Francais du Petrole (M.S. in Petroleum Economics and Management).
ACA Compliance Group
Tom joined ACA in August 2015 as a Principal Consultant in the
Broker-Dealer division based in the New York City office. His
responsibilities include conducting supervisory control reviews and
anti-money laundering testing, creating written supervisory
procedures, and providing customized advice to broker-dealers
regarding development and execution of their compliance
programs. Tom currently helps clients prepare for the new DOL
Fiduciary Rule, which includes analyzing how the rule may impact
their business, and developing and implementing policies and
procedures for complying with the rule.
Prior to joining ACA, Tom spent over 10 years at the FINRA
Woodbridge, NJ office. During his time at FINRA, Tom led or
managed examinations of firms of various sized and business
models. The firms included introducing broker-dealers, private
placement firms, municipal securities dealers, trading firms and fullservice
broker-dealers. Tom is experienced with FINRA, MSRB and
SEC rules that apply to broker-dealer activities.
Tom earned a B.A. in Business Management from Moravian College
and an MBA in Finance from Fairleigh Dickinson University. He has
also completed additional coursework toward an MS in Accounting,
and is an active
Head of Cross Assset Structuring for the Americas
Managing Director in charge of Cross Asset Structuring for Credit Agricole CIB. His team mandate encompasses:
- serving CA CIB customer needs around derivatives and tailor-made solutions to meet their financial objectives;
- promoting the marketing of CA CIB's product suite and solutions to Global Market Sales division and clients;
- developing, implementing and delivering relevant new products.
Stan also oversees the retail distribution effort of Structured Products across asset classes with a special focus on the rolling out of an equity derivatives product offering in the Americas and CA CIB's digital trading platform. Stan joined CACIB in 2006.
Prior to joining Credit Agricole CIB, Stan set up, with two other colleagues, the Structured Investment Products distribution team at Dresdner bank in New York.
Stan holds an Engineering degree in Computer Science and Applied Mathematics from Institut Polytechnique de Grenoble and a Master of Arts in Mathematics of Finance from Columbia University.