|
Richard D. Marshall
Partner
|
|
|
|
Rick focuses his practice on the representation of financial institutions and their employees who are the subject of investigations by the SEC, US Attorneys, FINRA, and state securities regulators. Rick also counsels broker-dealers, investment companies and investment advisers on regulatory issues, particularly relating to SEC and FINRA regulation. Rick also frequently counsels clients on compliance and risk management issues and handling of SEC inspections.
Prior to entering private practice, Rick worked for several years for the Securities and Exchange Commission as both a branch chief in the Division of Enforcement in Washington DC and as Senior Associate Regional Administrator in the SEC’s New York Office, where he supervised a staff of 70 that conducted inspections of investment companies and investment advisers and instituted enforcement actions against those entities.
- Principal outside counsel to numerous money managers (Mutual of America, Marvin & Palmer, European Investors, Transparent Value, and Thomson, Horstmann & Bryant).
- Counseled Instinet on its BrokerShare product (soft dollar arrangement) and Lehman on “unbundling” research and brokerage.
- Successful defense of Nicholas Howard through trial and appeal with a victory in the DC Court of Appeals. Trial of administrative proceeding against Chris Woessner with minor sanction imposed. Defense of Alfred Teo in insider trading and 13(d) allegations with plea mid-trial. Successfully negotiated settlements of SEC and SRO actions on behalf of TD Waterhouse, Cantor Fitzgerald, and numerous market timers.
- Defense of numerous SEC and FINRA investigations involving insider trading, market manipulation, failure to supervise, market timing, financial fraud, conflicts of interest, and disclosure issues. Numerous successful defenses of regulatory investigations are confidential.
- Extensive client advice regarding possible impacts of the Dodd-Frank Act of 2010 and related regulatory rulemakings.
- Daily, time-sensitive advice on securities trading, ownership reporting and other investment regulation to a broad range of clients.
Professional & Civic Activities
Rick has served on the board of directors of the National Society of Compliance Professionals and is currently a member of several committees of that organization.
Rick also is currently a member of the editorial board of Money Market Insight. Rick has also been a member of the Administrative Law and Securities Regulation committees of the Association of the Bar of the City of New York. He is the founding editor of the Investment Lawyer.
Rick is a frequent speaker and author. He has delivered keynote addresses at the annual national meetings of the National Society of Compliance Professionals and Ascedant Compliance Management and has spoken at the annual SIFMA law and compliance conference, the annual mutual funds conference, and numerous PLI and other programs.
Rick is the author of over 50 articles on numerous subjects, including the defense of SEC inspections and investigations, insider trading, soft dollars and other brokerage arrangements, and compliance and risk management for financial service firms.
©1996-2012 Ropes & Gray LLP. All rights reserved.
|
|
Education
-
JD, The University of Chicago Law School, 1980
-
MA, University of Toronto, 1977
-
BA, Yale University, 1975
Bar Admissions
- New York, 1981
- District of Columbia, 1985
Courts
- State of New York Court of Appeals
- U.S. Court of Appeals for the District of Columbia Circuit
- U.S. District Court for the Eastern District of New York
- U.S. District Court for the District of Columbia
- U.S. District Court for the Southern District of New York
|
|