Richard is a securities industry professional with over 35 years of experience. Prior to joining Oyster, Richard served as Chief Compliance Officer and General Counsel to a global investment bank. Richard has broad experience with regulatory issues surrounding virtually all aspects of capital markets activities, equities and derivatives. Richard began his career with the United States Securities and Exchange Commission, rising to the level of Associate Director in charge of the options, exchange, over-the-counter, municipal, clearing and transfer agent branches of the SEC Division of Market Regulation.
- A key member of Oyster teams on Independent Consultant engagements to remediate violations of AML laws, federal securities laws and FINRA and NYSE rules
- Provides regulatory advice on a spectrum of financial services regulatory issues, with a special focus on capital markets trading, sales, research and banking issues
- Provides outsourced Chief Compliance Officer broker-dealer services
- Responsible for the regulatory, compliance and legal issues of a diversified capital markets platform with substantial proprietary, algorithmic, structured products and derivatives trading activities and active investment banking, research and institutional sales businesses
- Oversaw surveillance, examination and enforcement actions at national stock exchanges
- Responsible for the management of legal and compliance functions surrounding private clients, fixed income and equity capital markets businesses of full-service brokerage firms
- Developed and managed information barriers policies and procedures at a large bulge bracket investment bank
- General Counsel, Chief Compliance Officer & Managing Director, RBC Capital Markets, LLC
- Executive Vice President, Member Firm Regulation, American Stock Exchange, LLC
- General Counsel, U.S. Bancorp Piper Jaffray, Inc.
- Deputy General Counsel, Capital Markets, Dain Rauscher, Inc.
- General Counsel, Wessels, Arnold & Henderson, LLC
- Senior Vice President, Senior Counsel, Leham Brothers, Inc.
- Executive Vice President, Legal and Compliance, Philadelphia Stock Exchange, Inc.
- Associate Director, Division of Market Regulation, United States Securities and Exchange Commission
Education, Accolades and Industry Commitments
- J.D., Harvard Law School
- B.A., Graduation with Distinction, Macalester College
- FINRA Series 14 & 24
- Chairman, SIFMA General Counsels Committee
- Chairman, National Society of Compliance Professionals
- Member, NASD Market Regulation Committee
- Chairman, SIA Bank Securities Regulation Committee
- Member, Philadelphia Stock Exchange Business Conduct Committee
Publications and Presentations
The SECS 2017 Priorities: What They Are and What Compliance Professionals Need to Know– NSCP Currents, February, 2017.7.