Wayne M. Aaron is a financial services regulatory lawyer with deep experience in sales, trading, and market structure issues and applies that experience to represent financial services firms, their management, and other employees in governmental and regulatory investigations and advise on supervisory systems, new business lines, and other projects affected by the US securities laws and the rules of self-regulatory organizations and exchanges. Wayne is a member of the firm’s Litigation & Arbitration Group, the Financial Services Regulatory Practice, and the Technology Practice.
Primary Focus & Experience
Mr. Aaron regularly advises securities firms and their employees on complex sales and trading and other regulatory issues affecting the securities markets and represents these clients in inquiries by and enforcement proceedings before the Securities and Exchange Commission and other government regulators and self-regulatory organizations. His practice encompasses the wide-range of regulatory issues currently affecting financial services firms, hedge funds, and other institutional investors including, equity and fixed-income trading practices; market structure and order handling and execution issues; audit trail and trade reporting requirements; commission sharing arrangements and directed brokerage programs; short sales and operational compliance; high-frequency trading, market-making, and specialist obligations; capital markets issues; and research practices.
In addition to providing ongoing regulatory counseling, Mr. Aaron represents clients in responding to regulatory inquiries including defending witnesses and their firms during on-the-record testimony and enforcement proceedings brought by the SEC, FINRA, and other state and federal regulatory agencies. Currently, Mr. Aaron is representing a number of the country’s leading broker-dealers and their associated persons in significant private and public regulatory investigations by the SEC staff and the enforcement and market surveillance departments of the major self-regulatory organizations.
Recognition & Accomplishments
Mr. Aaron frequently lectures on broker-dealer and investment adviser regulatory and trading issues. In addition to numerous compliance and training sessions for the trading desks and business units of various top-tier broker-dealers, Mr. Aaron speaks at various industry conferences. Mr. Aaron is currently ranked by Chambers USA as Band 3 for Nationwide Financial Services Regulation: Broker Dealer (Enforcement). He is described by clients as "extremely responsive and thorough. Wayne is able to understand all facets of our business and provide a road-map to enable us to maneuver through difficult and complicated situations without delay." (Chambers USA)
- Hofstra Law, J.D.
- Tufts University, B.S.
- New York
- US District Court for the Southern District of New York