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. Clients trust Nick’s 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, exchanges, 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. and global exchange platforms. Clients rely on Nick’s expertise and input in the areas of SEC and FINRA approval, transactional due diligence, state registration, and membership with the exchanges, clearing agencies and other SROs.
- 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 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, including proposed and final rulemaking, interpretations and exemptive relief, and enforcement 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.