Paul C. Carroll

Paul C. Carroll

Paul Carroll is an affiliate expert for Bates group with over 30 years of experience in the Financial Services Industry. He is an expert in operational controls, processes and procedures whose primary areas of focus include trade capture, settlement, custody and margin lending practices involving FRB Reg T, Portfolio and SPAN margin inclusive of the IT support systems designed to process, control and archive these critical business activities. He also specializes in the design and testing of intra-departmental data process flows, regulatory & house margin calculations and global portfolio reporting tools utilized by employees, by clients and as a basis for regulatory reporting.

Since 2011, Paul has been engaged in providing operational risk management review, process improvement enhancements and supervisory control system recommendations to broker/dealers, market makers, and registered member firms in support of listed SEC and CFTC regulated products. Additional services include expert consulting, expert witness and testimony on behalf of regulators, broker/dealers, attorneys and private parties in connection with investigations, trials, arbitration and mediation.

Paul served as Vice President in Global Operations for Goldman Sachs Execution & Clearing, Limited Partner at Spear Leeds & Kellogg and past President of SIFMA’s Credit and Margin Society. Paul also served as a member of the following regulatory sponsored committees:

-          NYSE 431 Margin Committee (1999-2007)

-          NASD Margin Day Trading Committee (2000)

-          FINRA 4210 Margin Committee (2007-2011)

-          FINRA Portfolio Margin Sub-Committee (pre-adoption) (2005-2007)

-          SEC/FINRA Portfolio Margin Sub-Committee (post adoption) (2007-2011)


Credentials

EXPERIENCE

Sententia LLC, Manalapan, NJ, President, 2013-Present

Manalapan, NJ, Independent Consultant, 2011- 2016

Global Operations, Goldman Sachs Execution and Clearance, New York, NY, Vice President, 2000-2011

Spear Leeds & Kellogg, New York, NY, Limited Partner: Operations Administration; Margin Services, 1996-2000

Republic New York Securities Corporation, New York, NY, Manager, Margin & Operations Services, 1995-1996

New York Life Insurance Co./ NYLife Securities Inc., New York, NY, General Insurance Agent, 1993-1994

Metropolitan Life Insurance Company, New York, NY, General Insurance Agent, 1991-1992

Liss Tenner & Goldberg Securities/First Institutional Securities, Clifton, NJ, Retail Operations Manager, 1983-1991

Salomon Brothers, New York, NY, Manager, 1978-1981

Smith Barney Harris Upham, New York, NY, Margin Clerk, 1976-1978

Loeb Rhoades & Co, New York, NY, Options Clearing Clerk, 1974-1976

Brown Brothers Harriman & Co., New York, NY,  Supervisor, 1973-1974

INDUSTRY LEADERSHIP

Credit & Margin Section of Securities Industry & Financial Markets Association (SIFMA), Operations & Technology Society, President (2010), Governing Committee (2011- present)

  • Professional society dedicated to sharing margin and operational best practices and providing educational seminars and peer to peer network opportunities to its membership.

FINRA 431/4210 Margin Committee, Member (2009-2011)

  • Regulator sponsored securities industry committee focused on margin rule development, modernization, interpretation and implementation.

SEC Portfolio Margin Sub-Committee, Member (2007-2011)

  • Formed in 2007, this committee focused on the newly created SEC/FINRA portfolio margin rules with a remit which included review of the implementation of the rule; monitoring of its effectiveness and making recommendations for changes as market conditions warrant.

SIFMA Operations Steering Sub-Committee, Participant (2009-2010)

  • SIFMA Board of Governors sub-committee with a remit to examine the efficacy of the broad based and overlapping infrastructure of SIFMA related committees, sub-committees and societies to insure a consistent communication of the organization’s goals, objectives and benefits of membership.
FINRA REGULATORY REGISTRATIONS

Series 7 (General Securities Representative)

Series 24 (General Securities Principal)

Series 27 (Financial and Operations Principal)

Series 63 (Uniform Securities Agent State Law Exam)

Automat:ee