Richard D. Marshall

Partner
richard.marshall@kattenlaw.com
New York Office
p+1.212.940.8765
f+1.212.940.8776
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Overview

Richard D. Marshall focuses his practice on the representation of financial institutions and employees subjected to investigations by the Securities and Exchange Commission, Department of Justice, Financial Industry Regulatory Authority and state securities regulators. Rick also counsels broker-dealers, investment companies and investment advisers on regulatory issues, particularly relating to SEC and FINRA regulations. He also frequently counsels clients on compliance and risk management issues and the handling of inspections.

Rick provides extensive advice regarding possible impacts of the Dodd-Frank Wall Street Reform and Consumer Protection Act and related regulatory rulemakings. Additionally, he provides time-sensitive advice on securities trading, ownership reporting and other investment regulations to a broad range of clients.

Prior to entering private practice, Rick worked for several years for the SEC as both a branch chief in the Division of Enforcement in Washington, DC and as a senior associate regional administrator in New York, where his staff conducted inspections of investment companies and investment advisers, and instituted enforcement actions against those entities.

Shown below is a selection of Richard’s engagements.

Experience
  • Principal outside counsel to numerous money managers.
  • Provision of counsel to an institutional, agency-only broker regarding its program enabling users to separate trading from research.
  • Provision of counsel to a global financial services firm on "unbundling" research and brokerage.
  • Successful defense of Nicholas Howard through trial and appeal; obtained victory in the US Court of Appeals for the District of Columbia Circuit.
  • SEC counsel in administrative proceeding trial against individual; minor sanction imposed.
  • Defense of individual against insider trading and 13(d) allegations; entered plea mid-trial.
  • Successful negotiation of settlements of SEC and SRO actions on behalf of brokerage firm, premier capital markets investment bank 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.
Advisories
November 24, 2015
Articles
November 30, 2015
Co-author, When A Victim Of Fraud Gets Sued For Fraud, Asset Management, Law360, Securities Law360
October 27, 2014
Co-author, Big-Dollar Mortgage Cases on Appeal: Decisions Expected, The New York Law Journal
September 26, 2014
Co-author, Takeaways From SEC Action Against Lincolnshire, Law360
February 11, 2014
Author, The SEC's Recently Proposed Crowdfunding Rules, Bloomberg BNA's Social Media Law & Policy Report
October 22, 2013
Author, Omnibus and MMF Reform a Bad Combo for Boards, BoardIQ
June 27, 2013
Author, CCO Liability: Tackling The Key Questions, Compliance Intelligence
December 2011
Co-author, A Proactive And Analytical Approach To Enforcement, Law360
2010
Author, Insider trading, The US Private Equity Fund Compliance Guide
2010
Author, Code of ethics, The US Private Equity Fund Compliance Guide
February 20, 2009
Author, Hints of New SEC Priorities, Law360
February 9, 2009
Author, Rumor-Mongering In the Crosshairs, New York Law Journal

Education

  • JD, The University of Chicago Law School
  • MA, University of Toronto
  • BA, Yale University

Bar Admissions

  • New York
  • District of Columbia
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