As a Senior Consultant at Oyster, Lance has designed, implemented and maintained compliance programs for SEC- and State-registered investment advisors, and has served as CCO for several of them. He has also worked in multiple engagements of varying scope with Registered Investment Advisors, broker-dealers and clearing firms, performing examinations, audits, and remediations of various aspects of their control and supervisory programs. Lance began his more than 20 years in the financial services industry at NationsBanc Capital Markets (now Banc of America Securities) in municipal fixed-income trading and underwriting. His extensive experience also includes bond sales for Bank of America, retail investor financial consultant for UBS, and just prior to joining Oyster, Lance was in fixed income trading at Wachovia Securities (now Wells Fargo Advisors) where he traded high yield corporate, emerging market, international, and non-dollar credit securities.
- Served as Independent Consultant to firms in relation to the SEC Municipal Continuing Disclosure Cooperation Initiative
- Developed compliance program for insurance-linked securities hedge fund
- Served as Outsourced CCO for offshore hedge fund
- Worked as outsourced CCO for SEC-registered Registered Investment Advisor
- Worked with multiple Registered Investment Advisors of various sizes with focus on their regulatory compliance program, including program audit, review, design and implementation and firm registration
- Partnered with regional and local Registered Investment Advisors to perform Compliance Calendar review, design and implementation, and a review and design of Written Supervisory Procedures
- Performed a wide range of broker-dealer regulatory compliance testing and evaluation functions concerning FINRA Rule 3012/3120 controls testing, AML program testing and remediation, fixed income compliance review, and SEC Rule 15c(3)-5 Direct Market Access controls review for firms ranging from regional to national in size
- Performed broker-dealer compliance program services including development and review of Written Supervisory Procedures, FINRA New Member Applications and Client Document review and remediation
- Involved in merger and integration of staff, technology, and procedures as an associate of various broker-dealers, banks and independent firms
- Managed account documentation project for a large clearing firm
- Maintained and marketed proprietary inventory of high yield fixed-income securities for an audience of 15,000 retail financial advisors and correspondent firms, managing trading risk, formulating highly successful buy and sell strategies and negotiating profitable transactions for a national broker-dealer
- Worked as part of a national financial services firm to monitor proprietary and financial advisor trades to ensure best execution and regulatory compliance
- Served as retail investor financial advisor of an international financial services firm
- Served as a municipal trader for a national bank and securities firm; supported all front and middle-office aspects of municipal trading, underwriting, regulatory compliance, and risk management; in addition executed and supervised underwriting of syndicate management, record keeping, trade control, accounting, and settlement
- Associate Vice President, Taxable Fixed Income Trader, Wachovia Securities
- Financial Advisor, UBS Financial Services
- Associate Vice President, Municipal Trader, Bank of America Securities, Inc.
Education, Accolades and Affiliations
- B.S., Education, University of Vermont
- FINRA Series 7 and 63 registrations (Registrations are typically inactive, but may be used when appropriate to perform interim functions for our clients)
- Virginia Life, Health, and Annuity license
Publications and Presentations
The SECS 2017 Priorities: What They Are and What Compliance Professionals Need to Know– NSCP Currents, February, 2017.