Nicholas Losurdo

Mr. Losurdo frequently interacts with the staff of the SEC, FINRA and various other regulators and agencies, including the MSRB, OCC, DTCC. Clients trust his unique, yet diverse expertise and practical guidance on large and small projects alike, including:

• Mr. Losurdo has served as lead regulatory counsel on several dozen successful transactions involving the purchase or sale of broker-dealers and other financial institutions, often with private equity fund buyers or sellers. The targets in these transactions range from small, independent broker-dealers to some of the largest broker-dealers in the U.S. Clients rely on his expertise and input in the areas of transactional due diligence, FINRA membership, state registration and membership with the exchanges, clearing agencies and other SROs. His transactional work also covers securities exchanges and requisite SEC approval.
• Mr. Losurdo possesses invaluable capital markets, market structure and trading expertise, which he has utilized to advise equity and option exchanges on several hundred rulemaking initiatives. With a keen understanding of the regulatory process and the business and technology drivers and impact, he provides clients with insights to anticipate hurdles and navigate regulatory demands.
• Mr. Losurdo has successfully registered several new broker-dealers and ATSs for clients, including handling formation, FINRA membership, SEC registration and ongoing compliance with applicable rules and regulations.

Mr. Losurdo’s broker-dealer clients turn to him on a daily basis for practical guidance on a variety of topics, including order handling; trade execution (including Best Ex) and reporting (including swap reporting); the SEC’s “Market Access Rule” (Rule 15c3-5); Regulation NMS; market making; clearing; communications with the public and disclosures; net capital and other financial and operational matters; AML; cybersecurity; crowdfunding; fixed income matters (including markups/downs); suitability; new business initiatives (including FINRA Continuing Membership Applications); licensing, registration and compensation of personnel; supervision and WSPs; customer statements and confirms; offerings and underwriting; and internal inspections and annual audits.

Mr. Losurdo advises clients in relation to SEC and FINRA examinations, investigations, and enforcement actions, including on matters relating to municipal securities (including the SEC’s MCDC initiative) and advertising regulation.