Jeff Holik

Jeff Holik

Jeff Holik is a Bates Group affiliate expert and consultant with a 25-year history of achievement as Chief Legal Officer for a major financial institution, as a leader and manager of regulatory programs at FINRA, and as a litigation partner in national law firms. Mr. Holik has a deep understanding of the retail investment business, federal securities laws, and the FINRA regulatory process. He serves as an expert on a wide range of topics in the retail broker-dealer and investment adviser market, with particular knowledge of sales practices, suitability and supervision; new product vetting and due diligence; complex products (including variable annuities); senior investor issues; regulatory reporting, including Form U4/U5 questions; broker termination and employment matters; and governance, conflicts management and internal controls.

From 2006 to 2015, Mr. Holik served as Chief Legal Officer for the retail securities business of The PNC Financial Services Group, the seventh largest bank in United States. In that capacity, he advised the CEO, senior management, and the Board on compliance, governance, sales practice, cybersecurity, and regulatory investigative matters. He was deeply involved in all aspects of the firm’s business, including new product approval and oversight; customer complaint management and resolution; employment, recruiting and broker transition issues; expansion of the firm’s advisory platform; preparation for compliance with the Department of Labor Fiduciary Rule; marketing initiatives; and operational matters (including migration to a new clearing platform). During his tenure, he designed and assisted in developing a variety of policies and practices to manage and reduce legal, financial, and regulatory risk.

Enhancing his extensive industry experience, Mr. Holik was privileged to have worked in several senior capacities at NASD (now FINRA), including as Director of Disciplinary Policy in the Office of the President, as Vice President for Member Regulation, and as Senior Vice President and Acting General Counsel. As a member of the executive management team, Mr. Holik participated for almost a decade in the development of major regulatory policy initiatives, and he personally led several, including the still-seminal policy defining the duties of brokerage firms to make suitable investment recommendations when communicating via the Internet and a comprehensive rewrite of the membership application rules. At various times during his tenure, he managed the New and Continuing Membership Application program, the Licensing and Qualifications Examination program, and the Eligibility (Statutory Disqualifications) program. He also advised the National Adjudicatory Council, the tribunal responsible for hearing appeals of all disciplinary and membership application cases.

Prior to joining NASD, Mr. Holik served for five years at the Commodity Futures Trading Commission. He gained foundational experience as a litigation partner in the Washington, D.C. offices of two national law firms, Baker & Hostetler and Andrews & Kurth. Today, Mr. Holik continues to practice securities law part-time with Matasar Jacobs LLC in Cleveland, Ohio.


Credentials

EXPERIENCE

Shulman, Rogers, Gandal, Pordy and Ecker, Of Counsel, 2015 - Present

The PNC Financial Services Group, Chief Legal Officer, Broker-Dealer, 2006 - 2015

NASD/FINRA, Senior Vice President, 1997 - 2006

Commodity Futures Trading Commission, Assistant General Counsel and Deputy Director of Enforcement, 1992 - 1997

Andrews Kurth LLP, Partner, Complex litigation and government investigations, 1989 - 1991

Baker & Hostetler LLP, Civil and criminal litigation practice, 1978 - 1989

EDUCATION

The George Washington University Law School, J.D., with high honors, Order of the Coif, 1978

Union College, B.A., Government, Summa cum Laude, Phi Beta Kappa, 1975

ADDITIONAL EXPERIENCE

General Counsel, Glen Echo Park Partnership for Arts & Culture, Inc., 2015 – Present

Serve as pro bono legal advisor to iconic and historic Glen Echo Park, once the Washington area’s premier amusement park, now home to thriving arts, dance and children’s theater programs, galleries, and classes operated by a non-profit partnership on behalf of the National Park Service.

 

Board of Trustees, Historic Annapolis, Inc., 2014 – 2016

Served as Chairman of the Governance and Nominating Committee for a leading non-profit dedicated to preservation of the historic places, objects and stories of Maryland’s capital city.

 

Volunteer Mediator, Montgomery County Conflict Resolution Center, 2015 – Present

 

Board of Directors, Anne Arundel Conflict Resolution Center, 2012 – 2014

Serve as mediator in securities industry customer and intra-industry disputes.  Substantial experience mediating community and family matters.   

Automat:ee