Insights

Investment News: New Finra CEO Cook Will Feel Heat From Both Sides of the Political Aisle

Dan Gallagher quoted in Investment News article: 

“Everything is more political, but (Mr. Cook is) used to the politics,” said Dan Gallagher, who briefly reported to Mr. Cook in 2010 and who later served as an SEC commissioner. “He's really brilliant, the whole package. And he's remembered very fondly at the SEC by those who worked with him. Replacing [Mr.] Ketchum, he has big shoes to fill but I can't think of anyone better than Robert.”

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By: Patomak Global Partners

Global Regulatory Standardization: A Critical View

Regulatory harmonization sounds like a noble goal. But instead of facilitating cooperation among regulators from different jurisdictions, it has morphed into the imposition of one-size-fits-all regulatory standards.

Law 360: Ex-SEC Member Backs Cost-Benefit Analysis At Agency

Dan Gallagher mentioned in Law360 article:

Law360, New York, (May 17, 2016, 1:15pm ET) -- Former Securities and Exchange Commission member Daniel Gallagher and several other industry players threw their support Tuesday behind three proposed House Bills that would impose new requirements on the SEC and proxy adivsory firms and cut paperwork for private funds.

Reuters Column: Roots of the Next Financial Crisis: The Last One’s Veterans Give Views

Dan Gallagher quoted in Reuters guest column:

There is a general consensus that the next financial crisis will follow the familiar arc of bubble, falling asset values, a run, credit/liquidity crunch, finger-pointing, new regulation, financial innovation, and unintended consequences for both regulation and innovation.

WSJ letter to the editor: Disclosure Is Just a Means to a Political End

Public-policy advocacy is essential for building shareholder value in corporations. 

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By: Patomak Global Partners

U.S. House Financial Services Committee Testimony by Paul Atkins

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Paul Atkins testifies at the hearing, "The Jobs Act at Four: Examining Its Impact and Proposals to Further Enhance Capital Formation"

Lucas Moskowitz Joins Patomak Global Partners

Patomak Global Partners announced today that former U.S. Senate Banking Committee Chief Investigative Counsel Lucas Moskowitz has joined the firm. Mr. Moskowitz joins Patomak as a Director. 

Wall Street Journal: The Most Thankless Job on Wall Street Gets a New Worry

Dan Gallagher quoted in this Wall Street Journal article:

Who wants to be a compliance officer?

Those officers on Wall Street in charge of ensuring that traders and other employees stay on the right side of laws and regulations are increasingly in the cross hairs themselves. 

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By: Patomak Global Partners

Law 360: SEC’s Stanford Case A Chance To Clarify Compliance Duties

Patomak managing director Ben Brown quoted in this Law 360 article: 

Compliance officers who worry they have an enforcement target on their back may soon get some clarity - and perhaps reassurance - from the U.S. Securities and Exchange Commission when it rules on a case involving convicted Ponzi schemer R. Allen Stanford's former top compliance manager. 

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By: Patomak Global Partners

Wall Street Journal opinion piece: Equities Policy Needs Surgery, Not Band-Aids

Volatilty, flash-crash risks and bigger dark pools are the legacy of the SEC's Regulation NMS.
By Paul Atkins

IEX, the self-declared anti-high-frequency trading venue praised in Michael Lewis's 2014 book, "Flash Boys," has filed an application with the Securities and Exchange Commission to change from a "dark pool" to a full-fledged stock exchange. Good news, one might think. But in so doing, IEX has exposed the regulatory quagmire harming the U.S. securities markets.