Thought Leadership
Experts

Steven Lofchie
Senior Fellow / Legal Studies
slofchie@the-cfs.org

In addition to serving as a part-time Senior Fellow at CFS, Steven Lofchie is Co-Chairman of the Financial Services Department at Cadwalader, Wickersham & Taft LLP. Mr. Lofchie concentrates his practice in advising financial institutions on regulatory issues and on derivatives and other financial instruments. He is the author of Lofchie's Guide to Broker-Dealer Regulation (3d ed. 2005), considered the leading treatise in the field. Chambers USA ranked Mr. Lofchie in its first band for financial services regulation and its second band for derivatives.

Mr. Lofchie counsels broker-dealers, banks, securities exchanges, private funds and registered investment companies regarding regulatory and transactional issues. His regulatory practice addresses virtually all the securities-law related statutory and regulatory requirements applicable to broker-dealers, other regulated institutions and their affiliates. He advises on registration requirements and exemptions, employee issues; cash market, sales, and trading; the development of compliance and supervisory procedures; satisfaction of margin, capital and recordkeeping requirements; the rules of the financial industry self-regulatory organizations; anti-money laundering; privacy; procedures for cross-border transactions; and insider trading issues.

Mr. Lofchie represents many of the largest hedge funds and their investment advisers on trading and derivatives regulation and documentation, as well as other regulatory issues, including those arising under the Advisers Act and the Commodity Exchange Act.

His transactional practice focuses on over-the-counter derivatives, securities financing, and trading agreements (from prime brokerage to the use of asset-backed structures for the financing of investments in hedge funds), and various types of licensing and membership agreements.

The securities industry associations and organizations for which Mr. Lofchie does work include the Securities Industry and Financial Markets Association, the Managed Funds Association, and the International Swaps and Derivatives Association.

Mr. Lofchie has been very active in developing web-based compliance tools, including his Guide to Broker Dealer Regulation, online compliance manuals, research tools and document analysis systems.

Mr. Lofchie received his M.B.A. from Columbia Business School, where he was a General Motors Fellow. He received his J.D. from Yale Law School, where he was a member of the Yale Law Journal.

 

  Advisory Board

Eduardo Aninat, Ph.D.

Senator Bill Bradley

The Honorable Carole L. Brookins

Peter Flocos, Esq.

Charles Goodhart, CBE, FBA

Henry Kaufman, Ph.D.

Guillermo Ortiz, Ph.D.

Judge Richard A. Posner

The Honorable Randal K. Quarles

Richard L. Sandor, Ph.D., Dr. Sc.h.c.

Myron S. Scholes, Ph.D.



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