Market Regulation

From challenging the exchange-dominated market-data regime and configuring trading systems that avoid regulatory shoals to performing compliance reviews and procedures, Orrick's Market Regulation lawyers provide a broad range of legal services to participants in the financial markets. We are recognized for our ability to develop innovative strategies for companies engaged in progressive market activities, such as the electronic delivery of financial services and market data. Market participants frequently rely on Orrick to structure their operations to comply with regulatory and legislative requirements. Moreover, we counsel technology and communications providers as to how to avoid the trip-wires that exist in various regulatory schemes.

Orrick handles all aspects of the regulation of markets (exchanges, ECNs and ATSs); broker-dealers; futures commission merchants; investment advisers and investment companies; including registration, new products, compliance, internal operating procedures, the net capital rules, insurance distribution, SIPC matters, clearing arrangements, margin requirements, and trading practices.

We represent financial services firms in dealing with regulatory inquiries, investigations, enforcement proceedings, and civil litigation. We advise clients on and carry out independent reviews of compliance procedures and supervisory systems. Also, we assist with current legislative issues and in formulating political strategies.

In addition, we provide full-service intellectual property advice and counseling to financial services firms in various contexts, including intellectual property protection and procurement, mergers and acquisitions, licensing, and litigation matters.
Since Orrick serves so many firms in the financial services industry, both large and small, we have developed a broad base of experience and a depth of expertise. We are, for instance, in the forefront of developments in the electronic marketplace. We have represented many firms as well as the New York State Common Retirement Fund in creating insider trading and other procedures, and we have counseled many firms on supervisory requirements, most recently, the SEC's order-handling and best-execution procedures.

Our lawyers are in continuous contact with staff of the key Congressional committees and regulators, including the SEC, CFTC, state securities commissioners, MSRB, NYSE, NASD, NFA and other self-regulatory organizations. This regular contact permits Orrick attorneys to resolve quickly questions requiring input from these bodies.

For more information about our firm, Orrick's market regulation capabilities, our market regulation attorneys, please contact Sam Scott Miller, the Group's Chairman, at 212-503-5130.