Assistant General Counsel - Broker Dealer

Atlanta, GA
Full Time
07-04-2019
Job #: W465935_1 Exp.: 8+ Years
Description:
Job Responsibilities:
  • Acting a primary legal counsel for STIS, an SEC/FINRA registered broker/dealer and 50-state licensed insurance agency which actively operates in 14 states
  • Engaging with PWM/STIS Leadership and providing timely and accurate legal advice, in addition to practical assistance, to Compliance, Risk Management and Audit teammates
  • Compressively supporting STIS’s response to all new requirements imposed by SEC Regulation Best Interest and advising PWM/STIS Leadership with respect to similar state law initiatives.
  • Facilitating interactions between STIS Compliance, PWM Legal and outside counsel involved in customer dispute resolutions, SEC/FINRA sweeps, audits and enforcement actions and industry best practice inquires
  • Drafting customer brokerage agreements and all required disclosures
  • Supporting review of STIS marketing materials
  • Conducting and/or coordinating legal research with regard to retail broker dealer rules and regulations, such as SEC, FINRA and insurance rules regarding suitability, supervision, books and records issues, client transaction requirements, and other topics relevant to supporting STIS.
  • Participating in a collegial SunTrust PWM Legal team and partnering with STIS Compliance and other Legal Department colleagues to support all non-employment aspects of STIS’s operations
  • Performing all corporate secretary functions regarding STIS Board meetings, minutes, resolutions and related matters. Preparing summaries of current potential legal liabilities to outside auditors
  • Partnering with PWM/STIS Leadership, Compliance Risk and Legal teammates to identify and manage legal and compliance risks and successfully respond to regulatory inquires and audits
  • Routinely participating as an advisor to senior STIS supervisory committees

Required Skills:
  • 8+ years prior experience as an in-house counsel to a retail broker/dealer and licensed insurance agency or similar experience at a leading law firm specializing in counseling retail broker/dealers on compliance and SEC/FINRA enforcement matters
  • Strong legal research and practical problem solving skills
  • Strong academic credentials
  • Juris Doctor or equivalent law degree and admitted to any United States bar in good standing.
  • Prior experience as a senior line of business counsel with a registered broker dealer and/or FINRA/SEC staff experience strongly preferred.
  • Extensive experience responding to SEC and FINRA inquires sweeps and enforcement actions.
  • Comprehensive knowledge of all SEC and FINRA broker/dealer related laws, rules and regulations applicable to a retail broker/dealer, including employee supervision, suitability, sales practices, communications with the public, marketing, regulatory filings, corporate secretary and audit reporting activities
  • Strong knowledge of state insurance agent and agency licensing, sales practice ,suitability, compensation laws and related rules and regulations
  • Detailed knowledge of mutual fund sales practices, share classes and compensation arrangements and proper disclosure of the same by a retail broker dealer
  • Strong knowledge of existing FINRA suitability requirements and current industry developments, including recently enacted SEC Regulation Best Interest
  • Familiarity with Investment Advisers Act of 1940 and RIA supervision and licensing
  • Practical experience with securities backed lending; transactions involving restricted and control securities (e.g., sales under Rule 144; Section 16; Reg SHO); transactions under formal trading plans (e.g., sales under Rules 10b5-1/10b-18);
  • Practical experience with compensation issues arising from bank referral activities and restrictions regarding the retail sale of non-deposit products by bank employees.

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