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Dan is a partner in the litigation department and chairs the securities compliance and defense practice group. He concentrates his practice in the area of securities law compliance and regulatory defense representing broker-dealers, investment advisors, banks, and financial planners in all aspects of federal and state securities compliance and defense matters, including administrative proceedings before the SEC, NASD, FINRA, and all 50 state securities commissions. He represents national and local securities firms in multi-jurisdictional investigations and enforcement proceedings, and has successfully concluded five 50-state settlements on behalf of broker-dealer clients.
Dan has written numerous national publications on securities laws and is a frequent speaker at securities seminars throughout the country. He has testified before both the U.S. Senate and U.S. House of Representatives on issues such as regulation of tender offers, oversight of financial planners, and the budget of the Securities and Exchange Commission. He has also chaired or served on numerous multi-state committees and task forces on topics such as shareholder voting rights, the national market system, financial planners and investment advisors, commodities trading, uniformity of state securities laws, and coordination of federal and multi-state enforcement programs and surveillance.
Prior to joining the firm, Dan served as the North Carolina Deputy to the Secretary of State in charge of securities regulation and enforcement from 1981 to 1988. Dan was responsible for oversight of the securities industry in North Carolina including regulation of securities professionals, registration of securities offerings, and the investigative and enforcement authority of the state's securities laws. Dan served on the Board of Directors and as President of the North American Securities Administrators Association (NASAA).
Representative Matters
Served as defense counsel to a New York-based nationally recognized securities broker-dealer before a multi-state task force in negotiating a global settlement, ultimately implemented in all states, based on allegations of manipulation of the U. S. Treasury bond auctions resulting in the client's retention of its unrestricted license to conduct securities business in all 50 states.
Represented a New York-based nationally recognized retail securities firm with billions of dollars of exposure in defense of its proprietary limited partnership sales nationwide before a multi-state task force and in implementing state-by-state a global settlement providing for the client to continue to conduct unrestricted securities business in all states. Also represented a second nationally known retail securities firm regarding its limited partnership sales in the implementation of a similar global settlement in all 50 states.
Publications, Presentations and Awards
"Insurance Products? Securities? The Lines Continue to Blur and the Regulators Continue to be Concerned," National Regulatory Services, Spring 2007 Compliance Conference
"State Broker-Dealer Enforcement," National Regulatory Services, Fall 2003 Compliance Conference
"CRD Potpourri," National Society of Compliance Professionals, National Membership Meeting,
Professional, Civic and Community Involvement
American Bar Association, Member, Section of Corporate, Banking and Business Law, State and Federal Securities Committees and Subcommittees, 1990-present
National Association of Personal Financial Advisors, Inc., Board of Directors, 1990-1993
National Society of Compliance Professionals, Inc., Board of Directors, 1990-1992; Member, 1990-present
North American Securities Administrators Association, Inc., Board of Directors, 1984-1988; President, 1986-1987. | 