Mr. Losurdo frequently interacts with the staff of the SEC, FINRA, and various other regulators, agencies, and SROs, including the MSRB, exchanges, OCC, and DTCC, including in the following areas:
- Lead regulatory counsel on several dozen successful transactions involving the purchase or sale of broker-dealers, exchanges, investment advisers, and other financial institutions. The targets in these transactions range from small, independent broker-dealers and RIAs to some of the largest firms in the U.S. and global exchange platforms.
- Advising equity and option exchanges on several hundred rulemaking initiatives.
- Registration of several new broker-dealers and ATSs 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 Regulation Best Interest; 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.
Mr. Losurdo is a member of the American Bar Association, the Boston Bar Association, and the DC Bar Association.
Mr. Losurdo has served in high-level government, private practice, and in-house roles. Before returning to Goodwin, he served at the SEC as Counsel to one of the Commissioners. While at the SEC, he advised the Commissioner on a broad array of legal, policy and regulatory matters. Before joining the SEC, Mr. Losurdo was Counsel at Goodwin. Earlier, he was an associate at another global law firm, and before private practice, he was Counsel at an SEC-regulated options exchange, where he was responsible for a broad array of regulatory and corporate legal matters, and regularly worked closely with business and IT colleagues on new business initiatives and the exchange’s technology.