CEO, BDL Compliance Consulting
200 South Wacker Drive - Suite 3100
Chicago, IL 60606
I have had extensive experience with expert witness engagements and testimony having been involved in numerous cases concerning a wide array of securities industry issues and topics. Some of the issues I have addressed as an expert witness include but are not limited to the following: Insider Trading, Ponzi Schemes, Due Diligence, Supervision, Supervisory Systems, Suitability, Fraud, Fiduciary Duties, Best Execution, Commission Disputes, Policies & Procedures, Outside Business Activities, Selling Away, Directed Brokerage & Commission Recapture Programs, Wrap Fees, Finders Fees, Books & Records, Margin Issues, SEC Rule 15c3-3 Reserve Requirement Computation Issues, Short Sale Issues, Brokerage Operations, Industry Practices & Customs, Registration Issues, Form U-4 and Form U-5 Disclosure. Some of the securities and product types that I have addressed as an expert witness include but are not limited to: Equities, Options, Fixed Income, Private Placements, Mutual Funds, Variable Annuities, Hedge Funds, Commodity Pools, Futures Products, Structured Products, Collateralized Debt Obligations (CDO), Credit Default Swaps (CDS), Government Securities, Market Making, and Exchange Traded Funds. Additionally, I function not only as an expert witness but also as an advisor with these engagements, noting issues, rules, regulations and industry practices that may have been overlooked. Many of the cases I have been engaged with also require written reports that I also provide.
I am a former Chief Compliance Officer and CPA with 39 years experience in the securities industry and extensive experience in broker/dealer regulatory compliance as well as experience in the investment advisory and futures fields. I have extensive experience in testimony both as an expert witness and as a former regulator. I am a former Senior Compliance Examiner with the National Association of Securities Dealers (NASD), now FINRA, and maintain far-reaching relationships throughout the regulatory world. I have held positions such as Chief Compliance Officer, Financial & Operations Principal (FINOP), Chief Financial Officer and Operations Manager at multiple broker/dealers and hold the following registrations in securities, investment advisory and futures: FINRA Series 7, Series 24, Series 27, Series 3, Series 4, Series 53, Series 57, Series 65, Series 79, Series 99, Series 63 as well as an Illinois Insurance Producers License. I was formerly the Chief Compliance Officer for Marsh & McLennan Securities, William M. Mercer Investment Consulting and William M. Mercer Securities as well as multiple other firms. I have owned and operated my own compliance consulting business called BDL Compliance Consulting since 2002. I am a regular guest on an established Chicago financial and sports radio talk show where I explain and discuss compliance issues and the financial services industry in general. I have also been interviewed and quoted in Bloomberg News on various compliance issues as well as Reuters. My website is BDLCC.COM