We also are experienced in handling those unique regulatory and compliance challenges confronting broker-dealers that distribute shares of registered funds and private pooled vehicles, as well as dual registrants that render investment advisory services. All our broker-dealer regulatory practice attorneys are also members of Stradley Ronon’s nationally recognized investment management practice and have significant regulatory experience in that area. Not surprisingly, we serve as primary broker-dealer counsel to some of the largest mutual fund distributors, wholesalers and retailers in the country on a broad spectrum of matters, including:
- advertising and marketing
- structuring distribution and dealer agreements
- addressing “in guise” distribution concerns
- FINRA cash compensation, noncash compensation and special compensation rules
- FINRA sales compensation limits
- handling regulatory examinations and inquiries
- other issues unique to these special purpose broker-dealers
When counseling clients, the attorneys in our broker-dealer regulatory practice work very closely with attorneys in other practice areas on an as-needed basis. For example, we frequently partner with attorneys from our securities enforcement & litigation group on all broker-dealer-related regulatory examinations, inquiries, investigations and administrative proceedings. We believe this integrated, team-based approach is unique, efficient and the best strategy to meet the individual needs of our clients.