Total Credits: 3.5 CLE
Your client has been selected for an examination by a governmental regulatory agency and/or a self-regulatory organization now what. This presentation will explain the process that the ACC, SEC and FINRA select who will be examined, the type of examination, the process and the potential consequences of the examination.
Topics include:
Moderators:
Wendy Coy, Assistant Director, Arizona Corporation Commission, Securities Division
Paul J. Roshka, Jennings Haug Keleher McLeod Waterfall LLP
Speakers:
Paul Kitchin, Director of Enforcement, Arizona Corporation Commission, Securities Division
Paul Huynh, Director of Registration & Compliance, Arizona Corporation Commission, Securities Division
Sarah Nilson, Assistant Regional Director, Asset Management Unit, Division of Enforcement, Securities and Exchange Commission, Los Angeles Regional Office
Bryan M. Bennett, Senior Special Counsel, Division of Examinations, Los Angeles Regional Office
Joelle Morris, Examination Director, Trading & Executive Group, Financial Industry Regulatory Authority (FINRA)
Jennifer Guadarrama, Examination Manager, Retail Group, Financial Industry Regulatory Authority (FINRA)
| SEC-Oct29-Manual (3 MB) | 22 Pages | Available after Purchase |
Paul Roshka is a Partner in the Phoenix office of Jennings Haug Keleher McLeod Waterfall LLP. He began his career as a prosecutor with the Connecticut Office of the Chief State’s Attorney where he prosecuted securities fraud cases. Four years later he accepted a position with the Arizona Securities Division. During his seven years with the Securities Division, he served as the Director of Enforcement and the Assistant Director of the Division. Since leaving the Division, he has prosecuted and defended commercial litigation cases, with an emphasis on securities litigation, arbitration and mediation. Paul regularly represents individuals and companies under investigation by the SEC, FINRA, the Securities Division and other federal and state agencies. He has taught classes on white collar crime, organized crime and corporate crime in undergraduate and graduate programs at Arizona State University. Paul has also chaired and been a panelist on several State and Maricopa Bar CLE programs. He serves as a AAA arbitrator and as a mediator. He received his bachelor’s degree from St. Joseph’s in Philadelphia and his law degree from the University of Connecticut School of Law.
Wendy Coy is the Assistant Director of Securities of the Arizona Corporation Commission. In 1990, Ms. Coy started her career with the Securities Division as an Enforcement attorney. In 2015, she became the Director of Enforcement. In 2019, Ms. Coy was promoted to her current Assistant Director position.
Prior to the Securities Division, Ms. Coy was a consumer fraud investigator with the Minnesota Attorney General’s office. Ms. Coy graduated from ASU with a BS in Justice Studies and obtained her JD from William Mitchell College of Law (now Mitchell Hamline School of Law) in St. Paul, Minnesota.
Phong (Paul) Huynh is currently the Director of Registration & Compliance at the Arizona Corporation Commission, Securities Division. Since 2008, Paul’s duties at the Commission covers multiple areas, including investigating and prosecuting securities fraud violators, overseeing the Division’s registration and licensing program, supervising the examination unit, conducting rulemaking and legislation, and handling related appellate matters. Prior to joining the Commission, Paul’s career experience includes prior registration as a securities salesman, prosecuting criminal offenses as a Deputy County Attorney with the Maricopa County Attorney’s Office, and serving as Legal Counsel for a real estate development company. Paul received his Bachelor of Science degree in Finance, summa cum laude, from Arizona State University and his Juris Doctorate degree from the University of Arizona.
Paul Kitchin is a graduate of Cornell University Law School and began his legal career in 2006. Since 2015, Paul has worked at the Arizona Corporation Commission’s Securities Division, first as an as an enforcement attorney and now as its Director of Enforcement.
Sarah Nilson is an Assistant Regional Director in the SEC’s Division of Enforcement. She supervises investigations into possible violations of the federal securities laws, including matters handled by the SEC’s Los Angeles Regional Office and the Division of Enforcement’s Asset Management Unit. Ms. Nilson has been with the Commission since 2013. Prior to that time, she worked at two international law firms. She earned a J.D. from Georgetown University Law Center, and a B.A. from the University of California at Santa Barbara.
Joelle Morris has been with FINRA since 2010. She began her career at FINRA as a cycle examiner before joining the cause exam program in 2012. She became an Examination Manager in the Dallas District Office in 2016, managing a team of 5 cycle exam staff prior to being promoted to Associate Director of the Florida District Office in May 2018. Currently, Joelle is an Examination Director in FINRAs Trading & Execution firm group, where she manages two exam teams and an individual contributor who execute examinations of ATS and Institutional Brokerage firms. Prior to joining FINRA, Ms. Morris worked for the Securities and Exchange Commission as an Examiner in the Division of Investment Management in New York. Ms. Morris received a BBA from Hofstra University in 2002, an MBA and an MS in Management from the University of Texas at Dallas in 2018. When Joelle isn’t protecting investors or preserving market integrity, she enjoys yoga, traveling and spending time with her two rescue dogs.
Jennifer Guadarrama is an Examination Director in FINRA’s Trading Specialist Group which focuses on reviewing market access and alternative trading systems. Prior to joining the Trading Specialist Group this year, Jennifer was an Examination Manager for Firm Exams associated with Retail firms for over five years. Before joining FINRA, Jennifer was at Chase Investment Services/WaMu Investments for over ten years and served as the V.P. of Brokerage Operations leading the Trade and Account Supervision Department. Jennifer held the FINRA Series 4, 7, 24, 53, 63, and 66 licenses.
Bryan Bennett serves as Senior Special Counsel in the Division of Examinations in the Los Angeles Regional Office of the Securities and Exchange Commission. Mr. Bennett joined the SEC’s Los Angeles office in 2008 as an examiner and later was named an Exam Manager and Assistant Regional Director, leading numerous teams in the investment adviser and investment company examination program. During his tenure, exam findings by the teams led to significant enforcement actions, including a case charging a Santa Monica, California-based hedge fund manager with fraud in a multi-million dollar cherry picking scheme, and a case against an investment adviser for promoting a wealth management strategy that he falsely claimed had been empirically back-tested. From 2015 through 2022, Mr. Bennett served as the Associate Regional Director of the Los Angeles Regional Office’s examination program, overseeing all examination teams responsible for conducting examinations of registered entities including investment advisers, investment companies, broker-dealers, transfer agents, and municipal advisers located in Southern California, Arizona, Nevada, Hawaii, and Guam. Mr. Bennett is a graduate of the University of California, Los Angeles and the University of Iowa College of Law. He also has four years of litigation experience in the private sector.
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