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Annual Review of Federal Securities Regulation

Chair

Pinedo, Anna

Vice-Chair

Go, Gonzalo

Mission Statement

The Annual Review of Federal Securities Regulation Subcommittee seeks to publish, on an annual basis, a survey of significant developments in federal securities laws and regulations, as well as developments relating to accounting pronouncements and securities litigation matters, from the past year. The survey is prepared by and for securities practitioners and securities litigators, and is intended for publication in the spring edition of the ABA’s The Business Lawyer. The Business Lawyer is published quarterly and is the premier business law journal in the country with a circulation of approximately 40,000 readers.

Email Listserve: [email protected]

Civil Litigation and SEC Enforcement Matters

Chairs

Gray, Elizabeth
Lawrence, Carmen

Mission Statement

The Civil Litigation and SEC Enforcement Matters Subcommittee seeks to promote the sharing of information among its members regarding SEC enforcement priorities, changes in relevant agency or enforcement division procedures and/or policy, significant enforcement actions, and developments in the federal securities laws; to provide opportunities to meet and discuss relevant issues with representatives of the SEC and other government agencies; and  to engage in special projects related to SEC enforcement or civil litigation as the Subcommittee deems appropriate.

Email Listserve: [email protected]

Credit Rating Agencies

Chair

Boresta, Robert

Mission Statement

The Credit Rating Agencies Subcommittee is intended to be a forum for ABA members who have an interest in the legal requirements that apply to credit rating agencies to engage in discussions regarding legal, regulatory and market developments involving credit rating agencies and credit ratings. We will comment on concept releases and proposed changes to SEC rules and regulations, as well as host sessions on these and related topics. The Subcommittee also proposes to act as a liaison between members of the bar who practice before the SEC Office of Credit Ratings (OCR) and members of the staff of OCR.  We welcome participation from all interested members.

Email Listserve: [email protected]

Emerging Europe Private Equity & Venture Capital

Chair

Cardenas, Jonathan

Mission Statement

The mission of the Emerging Europe Private Equity & Venture Capital Taskforce is to provide a forum for discussion of current legal developments and market practices surrounding international private equity and venture capital investment in the Emerging Europe region, broadly defined. The Taskforce will facilitate discussions surrounding fund formation, fund finance, equity financing transactions and exit transactions.

Email Listserve: [email protected]

Employee Benefits, Executive Compensation and Section 16

Chair

Borges, Mark

Vice-Chair

Bahn, C Alex

Mission Statement

The Employee Benefits, Executive Compensation and Section 16 Subcommittee seeks to address topics primarily related to the intersection of executive compensation and U.S. federal securities laws and provide a forum for informed discussions among members. The Subcommittee often acts as a liaison between the membership and the SEC and its staff on selected issues and assists the Federal Regulation of Securities Committee in preparing and reviewing comment letters on applicable SEC rulemaking.  The Subcommittee also partners with other subcommittees to present on topics with substantive overlap, such as employee benefits and taxation.

Email Listserve: [email protected]

FINRA Corporate Financing Rules

Chair

Neely, Gail

Vice-Chairs

Comnemos, Pallas

Mission Statement

The purpose of the Subcommittee is to act as a liaison between the NASD and members of the bar who practice before the NASD with respect to the Corporate Financing Rule and related rules, to comment on NASD rulemaking and to advise members of the Federal Regulation of Securities Committee with respect to relevant developments in NASD rulemaking and the activities of the NASD.

Email Listserve: [email protected]

ESG Joint Subcommittee of Corporate Governance and Federal Regulations

Chairs

Arnold, Michael
Pike, Stephen

Mission Statement

“Sustainability” means the capacity to endure. Sustainability considerations require a company to review risks to its strategy and evaluate opportunities that arise from sustainability issues.  To the extent communication of a company’s sustainability profile provides investors with insights into how the company is strategically addressing long-term risks and opportunities.

Email Listserve: [email protected]

International Securities Matters

Chair

Castellon, Peter

Vice-Chair

Fleisher, Adam

Mission Statement

The International Securities Matters Subcommittee seeks to review and consider U.S. securities laws and regulations as they apply to foreign issuers.

Email Listserve: [email protected]

Investment Companies and Investment Advisers

Chair

Schneider, Lori

Vice-Chairs

Crawshaw, Donald
Robertson, Robert

Email Listserve: [email protected]

Private Funds

Chair

Elovitz, Mark

Mission Statement

The Private Funds Subcommittee seeks to identify and address regulatory and legislative matters of consequence to the investment managers of private funds. In meeting this goal, the Subcommittee regularly comments on rulemaking and other initiatives proposed and/or adopted by regulators in the United States and outside the United States affecting private funds; and engages in ongoing dialogue with, among others, regulators and industry participants regarding the effects of regulatory and legislative actions on the business operations of private funds and the offering and selling of interests in those funds.

Email Listserve: [email protected]

Proxy Statements and Business Combinations

Chair

Shainess, Josh

Sean Donahue

Mission Statement

The Proxy Statements and Business Combinations Subcommittee seeks to facilitate the sharing of information and discussion among members regarding developments impacting proxy statements and business combination transactions.

Email Listserve: [email protected]

Public Company Reporting and Compliance

Chair

Barros, Sonia

Vice-Chairs

Martin, Erin 
Hooper, Reid

Mission Statement

The Public Company Reporting and Compliance Subcommittee’s mission is to facilitate the exchange of information about regulatory developments and best practices for disclosure and reporting under the federal securities laws. We seek to foster constructive engagement between practitioners and regulators through the submission of comment letters on proposed disclosure and reporting regulations, as well as informal discussions in our subcommittee meetings.

Email Listserve: [email protected]

Securities Law Opinions

Chair

Evans, Rob

Vice-Chair

Juergens, Eric

Mission Statement

The Securities Law Opinions Subcommittee’s mission is to enhance the quality of legal opinion practice involving U.S. securities laws. It seeks to foster national standards for legal opinions and negative assurance letters in securities offerings and other securities law matters through discussions, programs and reports.

Email Listserve: [email protected]

Securities Registration

Chair

Pinedo, Anna

Vice-Chair

Thorpe, Andrew

Mission Statement

The Securities Registration Subcommittee is intended to be a forum for engaged discussions regarding existing and proposed regulations related to the offering of securities, updates to disclosure requirements, updates to financial statement requirements, and other securities offering related regulations. The Subcommittee also focuses on legal, regulatory and market developments involving securities offering methodologies. We comment on concept releases, proposed changes to SEC, PCAOB and FINRA rules and regulations, as well as host sessions and listserve discussions on these and related topics. We welcome participation from all interested members.

Email Listserve: [email protected]

Small Business Issuers

Chair

Roe, Bonnie

Vice-Chair

Ross, Gary

Mission Statement

Our Subcommittee addresses the securities law issues faced by smaller companies, both public and private. The primary focus is on legal issues involved in raising capital in public and private markets, via registered offerings, private placements, Regulation A, crowdfunding and other securities offering exemptions available to smaller companies. Ongoing securities law disclosure and compliance issues are also topics covered by the Subcommittee.

Email Listserve: [email protected]

Trading and Markets

Chair

Wink, Stephen

Vice-Chair

Blass, David

Mission Statement

The Trading & Markets Subcommittee is composed of ABA members, many of whom are industry leaders, who have a keen interest and expertise with the legal requirements that apply to the major participants of the U.S. securities markets, such as brokers, dealers, exchanges, clearing agencies, alternative trading systems (ATS), transfer agents, credit rating agencies, securities information processors, and the Securities Investor Protection Corporation. We monitor, advise and, at times, participate in the rulemaking activities of the SEC and self-regulatory organizations (SROs) such as the Financial Industry Regulatory Authority (FINRA), the Municipal Securities Rulemaking Board (MSRB), exchanges, or clearing agencies. The Trading & Markets Subcommittee works closely with the SEC, FINRA, MSRB, and the major participants of the U.S. securities markets – serving as a key resource on substantive legal and policy considerations to foster fair, orderly, and efficient markets.

Email Listserve: [email protected]

Task Forces

Blockchains, Cryptocurrencies and Asset Management

Chair

Baris, Jay

Mission Statement

The Task Force on Blockchains, Cryptocurrencies and Asset Management seeks to identify critical issues involving blockchains and cryptocurrencies as they relate to investment companies and investment advisers, to increase awareness of these issues among practicing lawyers, and to provide meaningful input to regulators as appropriate.

Email Listserve: [email protected]

Investment Company Use of Derivatives and Leverage

Chairs

Baris, Jay
Nahoum, Gariel

Mission Statement

The Task Force on Investment Company Use of Derivatives and Leverage seeks to identify critical issues involving investment company use of derivatives and leverage in light of recent regulatory initiatives and evolving markets for derivatives, to increase awareness of these issues among practicing lawyers, and to provide meaningful input to regulators as appropriate.

Email Listserve: [email protected]

Offering and Trading of Tokenized Securities

Chair

Lerner, Linda

Vice-Chair

Hewitt, Martin

Mission Statement

The Task Force on Offering and Trading of Tokenized Securities seeks to foster the sharing of information among members about initial offerings and secondary trading of digital asset securities.

Email Listserve: [email protected]

Securities Holding Infrastructure

Chairs

Mooney, Jr., Charles
Rocks, Sandra

Mission Statement

​The Task Force on Securities Holdings Infrastructure will (i) examine the infrastructure for the intermediated holding of securities in the United States, (ii) identify. analyze, and assess the significance of any problems associated with the infrastructure, and (iii) identify and assess plausible means of addressing any problems.

Updating the Fund Director's Guidebook

Chairs

Crawshaw, Donald
Donohue, Andrew
Schneider, Lori

Mission Statement

The Task Force on Updating the Fund Director’s Guidebook seeks to update the most recent edition of the Fund Director’s Guidebook.

Email Listserve: [email protected]