Steven D. Lofchie
Partner
Funds, Regulation, and Equity Derivatives
Steven Lofchie, Chairman of the Funds, Regulation, and Equity Derivatives Department, concentrates his practice in advising financial institutions and on derivatives and other over-the-counter financial instruments. He is the author of Lofchie’s Guide to Broker- Dealer Regulation (3d ed. 2005), considered the leading treatise in the field. Chambers USA ranked Mr. Lofchie in its first band for financial services regulation and its second band for derivatives.
Mr. Lofchie counsels broker-dealers and securities exchanges regarding regulatory and transactional issues. His regulatory practice addresses virtually all the securities-law related statutory and regulatory requirements applicable to broker-dealers, exchanges, and their affiliates, covering employee issues; cash market derivatives, sales, and trading; the development of compliance and supervisory procedures; satisfaction of margin; capital and recordkeeping requirements; the rules of the financial industry; self-regulatory organizations; anti-money laundering; privacy; procedures for cross-border transactions; and insider trading issues.
His transactional practice focuses on over-the-counter derivatives, securities financing, and trading agreements (from prime brokerage to the use of asset-backed structures for the financing of investments in hedge funds), and various types of broker-dealer licensing and membership agreements.
In addition, Mr. Lofchie represents many of the largest hedge funds and their investment advisers on trading and derivatives regulation and documentation, as well as other regulatory issues, including those arising under the Adviser Act and the Commodity Exchange Act. He regularly represents the Managed Funds Association and participates in MFA events on questions relating to fund participation in the trading and credit markets. The securities industry associations and organizations for which Mr. Lofchie does work include the Securities Industry and Financial Markets Association, the Managed Funds Association, and the International Swaps and Derivatives Association.
Mr. Lofchie received his M.B.A. from Columbia Business School, where he was a General Motors Fellow. He received his J.D. from Yale Law School, where he was a member of the Yale Law Journal.
