Bruce G. Leto

Firm Management Committee Member and Partner

Bruce Leto


For almost three decades, Bruce Leto served as both chair and co-chair of the firm’s nationally recognized investment management practice. He provides counsel to investment companies, investment advisers, independent trustees and broker-dealers on securities and corporate law matters relating to pooled investment products, including registered and unregistered, open- and closed-end investment companies. Bruce is a member of Stradley Ronon’s board of directors and management committee. He is also a member of the advisory board of BoardIQ, an industry publication that addresses issues confronting investment company independent directors.

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Representative Matters

  • manages multiple fund and investment adviser representations, including those for three of the top 10 mutual fund complexes in the country (involves the management of legal teams with more than 20 members each)
  • serves as independent trustee counsel for multiple fund groups, including two of the top 10 mutual fund complexes in the country
  • supervised the establishment of an alternative fund involving 12 sub-advisers and the adoption of registered fund compliance policies and procedures, including related board approval
  • structured and implemented a unique institutional complex of mutual funds involving fund-of-funds; asset allocation; and significant partnership, tax and international securities law issues (this project involved the receipt of multiple SEC exemptive orders)
  • managed multiple complex-wide proxy solicitations for clients involving hundreds of mutual fund participants
  • served as an expert witness for interested trustees in SEC enforcement proceedings relating to valuation
  • created and prepared all documentation relating to two closed-end funds offered in firm commitment underwritings, including corporate organization, preparation of the registration statement and preparation of the New York Stock Exchange listing application
  • managed the reorganization of multiple closed-end funds into a combination of other closed-end and open-end funds, and re-domesticating closed-end funds
  • structured and supervised the conversion of a closed-end fund into an open-end fund
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Bar Admissions
  • Pennsylvania
  • New Jersey
Court Admissions
  • Pennsylvania Supreme Court
  • New Jersey Supreme Court
  • J.D., cum laude, Villanova University School of Law
  • B.A., cum laude, Haverford College

  • American Bar Association
  • Board of Trustees, The Philadelphia Orchestra and Kimmel Center Inc.
  • Board of Trustees & Executive Committee, Settlement Music School
  • Board of Trustees, The Academy of Music
  • Founder and Steering Committee Member, Philadelphia Fund Alliance

  • French
  • Italian


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Speaking Engagements

  • Presenter, “Modernizing the 1940 Act Regulatory Regime,” ICI 2024 Investment Management Conference
  • Moderator, “The Funds They Are A-Changin: A Closer Look at Mutual Fund to ETF Conversions,” Stradley Ronon at ICI 2023 Investment Management Conference
  • Panelist, “Modernizing the 1940 Act for Today’s Investors and Markets,” ICI 2023 Investment Management Conference
  • Panelist, “The Relationship Between Fund Directors and the Trading Desk – Facilitating a More Productive Conversation,” Capital Markets Strategies Trading and Best Execution Virtual Summit
  • Panelist, “Developments in Investment Management: Keeping Up with the Regulators,” ICI Mutual Fund and Investment Management Conference
  • Presenter, “Opt In or Opt Out: Significant Developments, Board Considerations, and Policies and Procedures in Opt-out Litigation,” Stradley Ronon at ICI 2017 Mutual Funds and Investment Management Conference
  • Panelist, “The Oversight of Sub-TA Fees,” BoardIQ Exchange
  • Panelist, “Hot Topics and Challenging Issues for Fund Boards: Independent Counsel Roundtable,” ICI 2015 Mutual Funds and Investment Management Conference
  • Presenter, “What a Difference a Year Makes: A New Era of Enforcement, Class Actions and Opt-Out Litigation,” Stradley Ronon at ICI 2014 Mutual Funds and Investment Management Conference
  • Presenter, “Beyond Morgan Keegan - Valuation, Compliance and Enforcement Issues for Directors,” Independent Directors Council webinar
  • Panelist, “The Director’s Point of View 2013: Bringing Current Mutual Fund Issues into Focus,” Stradley Ronon
  • Presenter, “Board Issues Roundtable: Independent Counsel Perspectives,” Investment Company Institute
  • Panelist, “The Director’s Point of View: A Discussion of Current Mutual Fund Issues,” Stradley Ronon
  • Presenter, “Securities Lending: Where We’ve Been, Where We’re Going” Stradley Ronon at ICI 2012 Mutual Funds and Investment Management Conference
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  • Suburban Life Magazine, "Five-star Attorney"
  • Suburban Life Magazine, "Top Attorney"
  • The Business Journals, “Influencers: Law”
  • Philadelphia Business Journal, “Best of the Bar: Philadelphia's Top Lawyers”
  • The Philadelphia Inquirer, Influencers of Law – Investment Management
  • Chambers USA: America’s Leading Lawyers for Business
    • Listed in tier 1 for nationwide investment funds: registered funds
    • Chambers states that "the 'extremely gifted' Bruce Leto is noted by observers for his 'great subject matter expertise' and 'years of both technical and practical experience.'"  
  • The Legal 500, Hall of Fame for investment fund formation and management: mutual/registered funds
  • The Legal 500, "Leading Lawyer" for mutual/registered funds
  • Ignites, “Fund Titan” in the Outside Counsel category
  • The Mutual Fund Wire, “100 Most Influential People in '40 Act Funds”
  • The Mutual Fund Wire, “Most Influential People in the Mutual Fund Industry”
  • The Best Lawyers in America
  • SmartCEO magazine, Legal Elite
  • Pennsylvania Super Lawyers
  • Philly Biz, "Best Business Lawyers"
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In The Community

Bruce is a member of the board of trustees and executive committee of Settlement Music School, the largest community school of the arts in the United States, and the board of trustees of The Philadelphia Orchestra and Kimmel Center Inc. and the Academy of Music. He is also the founder and a steering committee member of the Philadelphia Fund Alliance.
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