James G. Lundy represents clients in Securities and Exchange Commission (SEC), Commodities Futures Trading Commission (CFTC), self-regulatory organization, and other financial regulatory agency investigations and examinations, and compliance and governance counseling, white collar criminal investigations, and complex business litigation.
With 12 years of senior SEC experience and more than two years of in-house experience at a futures and securities brokerage firm, Jim has developed an in-depth working knowledge of the various regulatory bodies with enforcement, examination, and policy oversight of the securities and futures industries.
Jim co-maintains Drinker Biddle’s SECurities Law Perspectives Blog, which provides reports, discussions, and analyses on noteworthy trends in the enforcement and regulatory activities of the SEC, CFTC, and other financial regulatory agencies.
Jim is also a contributor to Drinker Biddle’s Broker-Dealer Law Blog, which provides practical insights on litigation, regulatory, compliance and fiduciary issues impacting broker-dealers. During his time with the SEC, Jim worked at supervisory levels in both the Enforcement Division and the Office of Compliance Inspections and Examinations (OCIE).
After nine successful years with the Enforcement Division as a senior trial counsel and as a branch chief, Jim spent his final three years with the SEC as a senior regulatory counsel in OCIE and assisted with operating the SEC’s examination program for the Midwest region.
Prior to joining the firm, Jim served as an associate general counsel at a futures and securities brokerage firm affiliated with a European-based global bank, where he handled representations before the CFTC, SEC, FINRA, Chicago Mercantile Exchange (CME), National Futures Association (NFA) and Chicago Board Options Exchange (CBOE) in matters involving complex futures, derivatives and securities trading and transactions.
- Represents clients in SEC Enforcement investigations, including representing the former CEO of a registered investment adviser. Also represents clients in internal investigations related to potential SEC Enforcement investigations and OCIE examinations, including representing a $2 billion fund complex in an internal investigation.
- Concluded his tenure with the Enforcement Division by obtaining judgments in a $100 million securities fraud case in which the main defendant was sentenced to 25 years in prison in the parallel criminal case.
- Handled every type of case investigated and pursued by the SEC, including several investigations into accounting and financial statement misstatements at public companies and the involvement of their audit firms, and investigations into supervisory issues at national brokerage firms with the independent office of supervisory jurisdiction model.
- While in-house, acted as a representative on the Futures Industry Association (FIA) subcommittees responsible for analyzing the CFTC’s proposed rule Regulation Automated Trading (Reg AT) and submitted a memorandum to FIA on the distinguishable SEC, FINRA, and Department of Justice practices regarding obtaining algorithmic trading “source code.”
- Worked in the CME Eurodollar options and futures trading pits and the trading floor of the Chicago Board of Trade before starting a J.D./M.B.A. program.
- Played a lead role for SEC Enforcement and OCIE in their coordinated efforts with the CFTC and FBI for their investigations into the failures of MF Global and Peregrine Financial Group.
- DePaul University, J.D.
- DePaul University, M.B.A.
- University of Illinois at Urbana-Champaign, B.A.
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