NEAL SULLIVAN, a member of the firm’s Executive Committee, is global leader of Sidley’s Regulatory and Enforcement practice. He is a member of the Securities Enforcement and Regulatory practice, which was recipient of the 2019 and 2016 Chambers USA Awards for Financial Services and Securities Regulation, and which was named the “Law Firm of the Year” for Litigation – Regulatory Enforcement in 2021 and Securities Regulation in 2020 and 2017 by U.S. News – Best Lawyers. Neal conducts a comprehensive securities regulatory and enforcement practice in which he represents broker-dealers, investment banks, investment advisers, accounting firms, public companies and senior corporate officers before the SEC, DOJ, DOT/FinCEN, PCAOB, FINRA, state attorneys general and securities regulators in private and public investigations and enforcement proceedings and in connection with international securities regulatory matters.

Neal E. Sullivan
- Securities Enforcement and Regulatory
- 公認会計士・職業賠償責任
He has been recognized in the areas of Securities Regulation and Enforcement since 2008 in Chambers USA: America’s Leading Lawyers for Business, where he has been described as “the epitome of a ‘wise counselor,’” with “significant credibility with the regulators and a keen sense of what all parties need to accomplish to reach resolution.”
A dynamic and effective enforcement counsel, Neal has represented public companies and accounting firms in connection with SEC investigations and proceedings related to audit work papers, accounting treatment of assets and valuations, compliance with Regulation FD and accounting treatment in connection with M&A, whistleblower matters, and internal investigations on topics as varied as FCPA in Latin America, off shore funds and U.S. tax restrictions and anti-money laundering.
Neal is also one of the leading advisers to the securities industry on major compliance and regulatory matters. He has played a central role in many significant matters over the past 20 years, such as representing Freddie Mac in a multi-year investigation by the SEC and the DOJ regarding sub-prime mortgages, representing Morgan Stanley in obtaining regulatory approvals for the 2009 launch of Morgan Stanley Smith Barney, the country’s largest retail broker-dealer and in its subsequent move to self-clearing and the Boston Options Exchange’s 2012 filing with the SEC to become a national self-regulatory organization. He represented the settling banks in negotiating the NASAA model settlement that become the basis for the Global Settlement Relating to Firm Research and Investment Banking Conflicts of Interest announced by the SEC, NASD, NASAA, NYSE and the N.Y. Attorney General’s office in April 2003.
During his tenure as the executive director of the North American Securities Administrators Association, he represented the 53 states and territories in negotiations concerning The National Securities Markets Improvement Act of 1996, and was one of the principal drafters of NSMIA. He also served as chief of the Massachusetts Securities Division, one of the most active state securities regulators in the United States; and was vice president of regulation at the Boston Stock Exchange.
Neal appears regularly on industry and legal panels that address issues of concern to the securities industry, including the SIFMA C&L annual meeting and certain SIFMA regional meetings. He also speaks at FINRA’s fall and spring annual conferences. He has appeared before the U.S. Congress to provide testimony on various SEC proposals and proposed federal oversight of the U.S. capital markets. He co-chaired the Fall PLI course on broker-dealer regulation in New York City annually from 2007 through 2017. He has authored several published articles on regulation of broker-dealers.
Awards
- Law360 MVP, Compliance (2020)
- Chambers USA: America’s Leading Lawyers for Business — Financial Services Regulation: Broker-Dealer (Compliance); Securities: Regulation: Enforcement (2008–2020)
- Leading Lawyer in Securities Law, The Best Lawyers in America (2009–2019)
経験
- メンバーシップ&アクティビティ
- American Bar Association
- Massachusetts Bar Association
得意分野
- Securities Enforcement and Regulatory
- 証券会社
- 証券取引組織
- 公認会計士・職業賠償責任
- 財務報告と開示
- 内部調査
- マネーロンダリング対策
- 銀行証券統合
- 金融機関カウンセリング
- グローバル金融サービス
- 会計士に関する政府および規制当局の捜査
- 株式公開企業の会計監視委員会
- 証券、投資信託、商品取引活動
- 消費者金融その他金融サービスの訴訟と執行
- インサイダー取引
- 投資顧問・ミューチュアル ファンド
- Public Companies
- Investment Adviser Enforcement
- Market Structure and Broker-Dealer Operations
- Securities Enforcement
ニュース&インサイト
資格
弁護士資格・登録
- District of Columbia
- Massachusetts
学歴
- Suffolk University Law School, 法務博士, 1990
- Stonehill College, 教養学学士, 1982