ERICA PROCTOR is an associate in 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.
Her practice is focused on the representation of a wide array of financial services firms, including investment and commercial banks, broker-dealers and hedge funds, on a broad variety of regulatory, enforcement, compliance, and transaction matters. She regularly assists clients with interpreting and applying relevant rules and regulations from the Securities and Exchange Commission, Financial Industry Regulatory Authority, and other regulatory organizations to their businesses. She has conducted several large internal investigations for Sidley’s banking and broker-dealer clients, and has extensive experience leading teams of lawyers engaged in extensive fact-gathering through witness interviews and electronic data collection. Erica also handles a number of detailed inquiries from clients concerning their compliance with the ownership reporting requirements and related liability under Sections 13 and 16 of the Securities Exchange Act of 1934.
Erica’s recent experience includes:
- Representing investment advisers in connection with SEC investigations related to securities lending procedures, firm due-diligence policies, accounting fraud, and Self-Regulatory Organization record-keeping requirements.
- Counseling a major investment bank and employees of a large commercial bank in investigations by the Department of Justice and Securities and Exchange Commission into residential mortgage backed securities (RMBS).
- Advising broker-dealers in connection with SEC and Financial Industry Regulatory Authority (FINRA) reviews of order routing practices, including payment for order flow arrangements.
- Counseling fund clients in connection with potential reporting violations under Section 13 of the Securities Exchange Act of 1934.
- Representing broker-dealers in connection with investigations of mark-ups/mark-downs in fixed income securities transactions.
- Advising clients in conducting internal investigations of whistleblower complaints regarding alleged internal control and policies violations.