Market Regulation: A Look Back, and a Look Forward - Podcast
Corporations, Securities & Antitrust Practice Group Podcast
Corporations, Securities & Antitrust Practice Group Podcast
Over the past several years there has been a heightened interest in the operation and structure of the U.S. securities markets. Annette Nazareth and Jeffrey Dinwoodie explained the history and development of our current equity market structure. They also shed light on some of the key issues currently being debated and provided an update on the SEC’s activities in this area.
Partner, Cravath, Swaine & Moore LLP
Jeffrey T. Dinwoodie is a member of the Financial Institutions Group at Cravath, Swaine & Moore LLP. Mr. Dinwoodie previously served as Chief Counsel to the Chairman of the Securities and Exchange Commission (SEC) and as Head of the Office of Financial Institutions at the U.S. Department of the Treasury.
Mr. Dinwoodie has broad experience advising financial institutions, companies and investors, as well as government officials, across multiple disciplines. His practice focuses on advising clients on financial regulation and compliance, enforcement and examinations, and M&A and other corporate transactions. Mr. Dinwoodie’s practice also covers policy and regulatory strategy matters. Mr. Dinwoodie’s clients include established institutions, emerging companies and entrepreneurs—and his work spans both traditional finance and innovation‑related and crypto asset issues.
Partner, Davis Polk & Wardwell LLP
Annette L. Nazareth is a Davis Polk partner practicing in the firm’s Financial Institutions Group in the Washington DC office. She advises clients across a broad range of complex regulatory matters and transactions. She also works closely with Davis Polk’s SEC enforcement practice, counseling nonfinancial sector corporations that are subject to government regulatory and enforcement actions.
Ms. Nazareth was a key financial services policymaker for more than a decade. She joined the SEC Staff in 1998 as a Senior Counsel to Chairman Arthur Levitt and then served as Interim Director of the Division of Investment Management. She served as Director of the Division of Market Regulation (now the Division of Trading and Markets) from 1999 to 2005. As Director, she oversaw the regulation of broker-dealers, exchanges, clearing agencies, transfer agents and securities information processors. In 2005, she was appointed an SEC Commissioner. During her tenure at the Commission, she worked on numerous groundbreaking initiatives, including execution quality disclosure rules, implementation of equities decimal pricing, short sale reforms and modernization of the national market system rules. Ms. Nazareth also served as the Commission’s representative on the Financial Stability Forum from 1999 to 2008.
Since leaving the SEC in January 2008, she has served as Rapporteur for the Group of Thirty’s report, The Structure of Financial Supervision: Approaches and Challenges in a Global Marketplace and as Project Director for their report, Enhancing Financial Stability and Resilience: Macroprudential Policy, Tools and Systems for the Future. Earlier in her career, she held a number of senior legal positions at several investment banks.