MICHAEL OGERSHOK advises financial services firms on a broad range of regulatory, compliance, enforcement, and transactional matters. He is a member of Sidley’s global Securities Enforcement and Regulatory practice, which received the 2019 Chambers USA Award for Financial Services Regulation, and was named the “Law Firm of the Year” for Securities Regulation in 2020 and 2017 by U.S. News – Best Lawyers®.
Prior to joining Sidley, Michael served for more than eight years at the Securities and Exchange Commission (SEC) in the Division of Trading and Markets. There, he helped supervise national securities exchanges, FINRA, and securities information processors across a wide range of matters including (i) equity and options market trading rules, (ii) corporate governance, (iii) disciplinary processes, (iv) market data and connectivity, (v) complex orders in options markets, and (vi) equities exchange listing standards. Michael’s experience includes the review of Investors Exchange LLC’s (IEX) application to become a national securities exchange and the issuance of the SEC’s interpretation of “automated quotations” under Regulation NMS. He also received a Director’s Award for work related to options exchange auction mechanisms.
During his time at the SEC, Michael also worked extensively on market structure reform issues and Commission rulemakings, including the SEC’s proposed Regulation Best Execution. In addition, he was heavily involved in the Commission’s regulation of ATSs, including those trading NMS stock, options, OTC equity securities, and fixed income securities.
*Admitted only in Maryland; pending admission to the D.C. Bar, practicing law in the District of Columbia under the supervision of principals of the firm who are members in good standing of the D.C. Bar.