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Broker/Dealer Regulation and Enforcement 2013

Author(s): Neal E. Sullivan, Carmen J. Lawrence
Practice Area: Corporate & Securities
Published: Oct 2013
PLI Item #: 42345
CHB Spine #: B2057, B2058


  • Suffolk University Law School(J.D., 1990)

Stonehill College
(B.A., 1982)


NEAL SULLIVAN conducts a comprehensive securities regulatory practice and maintains a particular focus on broker-dealer and investment adviser matters. Neal represents clients before the SEC, FINRA, and other self-regulatory organizations and state securities agencies.  Neal is a member of the firm’s Executive Committee and global co-leader of the Securities & Derivatives Enforcement & Regulatory group.   Neal is one of the leading advisers to the securities industry on major compliance and regulatory matters. He has represented clients in the SEC’s major Wall Street investigations, including insider trading; sale of auction-rate securities; mutual fund market timing; and research analyst conflicts of interest.  Neal is the former executive director of the North American Securities Administrators Association.   He has been recognized in Chambers USA: America’s Leading Lawyers (2008 – 2014) and Best Lawyers in America (2009–2015).

Carmen Lawrence is a partner in King & Spalding's Special Matters and Government Investigations practice group.

Ms. Lawrence's practice focuses on representing parties in investigations and litigations conducted primarily by the US Securities and Exchange Commission, US Commodity Futures Trading Commission, US Department of Justice, self-regulatory organizations and state securities regulators, conducting internal investigations, providing crisis management advice to public and private companies and counseling public companies and regulated entities (broker-dealers and investment advisers) on their obligations under the federal securities laws.

From 1996 until June 2000, Ms. Lawrence was the Regional Director for the SEC's Northeast Regional Office (covering 14 states and the District of Columbia), where she oversaw all enforcement and regulatory operations in the SEC's largest region.  Some of the SEC's most significant cases were brought by the Northeast Regional Office under Ms. Lawrence's leadership.

Before her appointment as regional director, from 1990 through  1995, Ms. Lawrence served as Senior Associate Regional Director, heading up the Northeast Regional Office's Enforcement Division.  From  1981 to 1989, she served in various staff and senior positions in the Enforcement Division.

Ms. Lawrence has spoken extensively and participates in numerous continuing legal education programs for federal securities law matters.


  • Co-Chair, Sub-Committee on SEC Enforcement and Civil Litigation of the American Bar Association Business Law Section
  • Trustee, Practising Law Institute
  • Member, American Bar Association
  • Member, Federal Bar Council
  • Trustee, Southern Vermont College

Awards & Recognition

  • Ms. Lawrence received numerous awards during her tenure at the SEC, including the Equal Employment Opportunity Award in 1998; the Presidential Distinguished Executive Award in 1995; the Stanley Sporkin Award in 1993; and the Irving M. Pollack Award, presented to an enforcement lawyer exhibiting leadership, integrity and intellect, in  1990.
  • Ms. Lawrence is consistently recognized by Chambers USA: America's Leading Lawyersfor Business as a leading individual for Securities Regulation and for Litigation : White-Collar Crime & Government Investigations. She is consistently recognized by Legal 500 in Litigation: White-Collar CriminalDefense, and is additionally recognized in Financial Services: Litigation. She is also consistently recognized by Benchmark: Litigation as a New York Litigation Star. She was named to Securities Docket's inaugural "Enforcement 40" list of top SEC enforcement lawyers in 2013.


  • J.D., University of Michigan Law School, 1981
  • B.A., Cornell University, 1978