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William Jannace is a Bates Consulting and Testifying Expert where he utilizes his 28 years of experience in the securities industry at the American and New York Stock Exchanges, FINRA and two investment banking firms. He managed FINRA’s Sales Practice Policy department responding to interpretive, policy and disposition requests, covering: capital markets/IPOs/private placements/Regulation D and S offerings/Rule 144A/144 resales, research/soft dollars, communications with the public, AML, registration and qualification examinations/waivers, books and records/customer confirmations/account statements, broker-dealer registration, broker-dealer-investment adviser relationships/fee-based accounts and mutual fund distributions, clearing/prime brokerage agreements, supervision, MSRB rules, outsourcing/Rent-a-Finop/CCO, bank sweeps/ACATs, suitability/KYC/churning/Rule 10b-5, outside business activities/private securities transactions/outside accounts, Forms: BD, U4, and U5, and conflicts of interest.
In addition to his responsibilities at Bates Group, Mr. Jannace teaches courses at Fordham School of Law, Wharton Business School, Georgetown Global Education Institute, and Financial Markets World on: Capital Markets/IPOs/Exempt Offerings/ADRs; Securities/SRO/Mutual Fund/Investment Adviser/Broker-Dealer Regulation; Broker-Dealer Operations/Net Capital/Customer Protection/Prime Brokerage/Short Selling/Clearance and Settlement; Corporate Governance/Proxy/Activism/Corporate Social Responsibility and Corporate Diplomacy/Environmental, Social, Governance/Impact Investing/Climate Change/COP21, State Capitalism/Family Firms/ Sovereign Wealth Funds/Geopolitics/Geoeconomics.
While working as a regulator, Mr. Jannace interfaced with the SEC, NASD, state regulators/trade associations (SIFMA) in shepherding proposals for approval; and helped draft reports on: research analyst conflicts; secondary trading of private companies; transparency enhancements to the securities lending marketplace; and on mutual regulatory recognition. He participated in the Compliance Advisory Group, OSRC, and IOSCO initiatives. He also led a FINRA initiative to rewrite its membership rules. Rule proposals/ guidance included: SRO Rule Harmonization; Portfolio Margin; Outsourcing/Rent-a-Finop/CCO; Bank Sweeps/Account Transfers/ACATs; Statutory Disqualifications; Broker-Dealer Registration/Finders; CEO Certification/Internal Controls/Supervision; Branch Office Structure and Supervision; Review/Supervision of Electronic Communications; AML/Patriot Act/OFAC/SDNs; IPO Allocations/Research Analyst Conflicts/Qualification Examination; Business Continuity/Contingency Planning
Mr. Jannace also worked in the Enforcement Department where he investigated violations of securities laws/SRO rules, conducted OTRs, drafted reports of investigation/statement of charges/settlements and conducted contested/settlement proceedings against firms and their employees. Predicate violations investigated, included: unauthorized/unsuitable/excessive trading/churning/options fraud/margin requirements, books and records violations, market manipulation/short squeezes/front-running/trading ahead/option position limits/market-making obligations, and failure to supervise.
He also worked at TD Securities and Smith Barney Shearson, providing legal advice on/reviewed or responsible for: Regulation D/S offerings/144A/144 resales/10b-18 share buybacks; Offering Memorandums/Underwriting and Prime Brokerage Agreements; Research reports and trading approvals for new issues/secondary offerings; Issuing penny stock approvals and approving plans of solicitation; Ensured trade reporting/Control Room/employee/firm trading compliance; Responding to SEC/SRO examinations/member of the “Best Execution” committee
He was an account executive at Georgeson and D.F. King serving as liaison for corporations/institutional shareholders regarding corporate governance issues; assisted on proxy fights/tender offers for corporate raiders/listed companies; liaison with trading floor and arbitrageurs to provide market color to listed companies; monitored trading versus 13F filings to determine changes in shareholder ownership. He was also Series 7/63 licensed at Drexel Burnham/Paine Webber and Series7/55 licensed at TD Securities.
Mr. Janace is also a research affiliate with the Fletcher Network for Sovereign Wealth and Global Capital. Mr. Jannace received his J.D. from New York Law School in 1992, his LL.M. in Corporate, Banking, and Finance Law from Fordham Law School in 1996, is a member of the State Bars of New York and Connecticut; received a B.A. in Economics from New York University and Environmental, Social and Governance investment training from the International Corporate Governance Network. William Jannace is also a FINRA Non-Public Arbitrator, a Fellow, Chartered Institute of Arbitrators, a member of the New York International Arbitration Center and a Certified Member of the Association of Certified Anti-Money Laundering Specialists. Mr. Jannace has also participated in a crisis negotiation exercise with the U.S. Army War College. He has consulted for The World Bank and volunteered for the Interfaith Center on Corporate Responsibility, the Asset Owners Disclosure Project, and served as a judge for the SIFMA Foundation InvestWrite Competition, and various moot court competitions at Fordham Law School and New York Law School. Mr. Jannace is a member of the Bretton Woods Committee and the NGO Committee to Stop Trafficking in Persons.
Mr. Jannace has also conducted overseas training programs for the: IOSCO/PIFS-Harvard Law School; Russian Securities Commission/Stock Exchange; East African Securities Regulatory Authority/Uganda; Saudi Arabian Capital Markets Authority; Securities and Exchange Board of India; Ukrainian Securities/Stock Market State Commission; Romanian Securities Commission; Jordanian Securities Commission; Capital Markets Authority of Turkey; Albanian Financial Supervisory Authority; Central Bank of Burundi; East African Secretariat/Tanzania; New York Institute of Finance/Beijing; and the Taiwan Stock Exchange
Bates Group LLC, Consulting and Testifying Expert, 2017 - Present
Adjunct Professor/Lecturer/Expert-Consultant/Associate/Arbitrator and Research Affiliate, 2015 - Present
Courses/Topics: Capital Markets/IPOs/Exempt Offerings/ADRs, Securities/SRO/Mutual Fund/Broker-Dealer/Investment Adviser Regulation/Operations/Net Capital/Customer Protection/Prime Brokerage/Short Selling/Introducing-Clearing Agreements, Financial Literacy, Proxy Rules/Corporate Governance/Shareholder Activism/Corporate Social Responsibility, Corporate Diplomacy/Environmental, Social, Governance and Impact Investing, Climate Change/COP21, State Capitalism, Family Firms, Sovereign Wealth Funds, Geoeconomics and Geopolitics at:
FINRA; F/K/A New York Stock Exchange Regulation, Director and Counsel-Sales Practice Policy, Managing Director – Member Firm Regulation, Senior Special Counsel – Member Firm, 2001 – 2015
Toronto Dominion Securities, Senior Associate – Legal and Compliance, 2000 - 2001
American Stock Exchange, Staff Attorney – Enforcements & Investigations Department, 1994 - 2000
Smith Barney Shearson, Inc., Market Surveillance Analyst - Compliance Department, 1993 - 1994
Georgeson & Company, Inc.; D.F. King Company, Inc., Senior Account Executive, 1988 - 1992
Paine Webber, Inc., Stockbroker Trainee, 1987 - 1988
P.S. & W Transportation, Inc., Owner of Ambulette Service, 1980 - 1987
Latin Legum Magister (LLM), Banking, Corporate and Finance Law, Fordham University School of Law, New York, NY
Juris Doctor (JD), New York Law School, New York, NY
Bachelor of Art (BA), Economics, New York University, New York, NY
Bar Admissions: Member of the New York and Connecticut Bars
Candidate-Graduate Certificate in Global Energy Studies, New York University – SPS, 2018
International Commercial Arbitration Training Program, Chartered Institute of Arbitrators, 2016
Economic and Security Program- Moscow, Russia, New York University – SPS, 2016
Candidate-CAMS, Association of Certified Anti-money Laundering Specialists, 2016
Special Crisis Negotiation Exercise, New York University/Army War College, 2016
Sustainable Development Program-La Paz, Bolivia, New York University – SPS, 2016
Global Affairs Program – Certificate, New York University – SPS, 2015
U.N. Geneva Program-Geneva, Switzerland, New York University – SPS, 2014
ESG Integration Training Program, International Corporate Governance Network, 2014
Certificate Program/Member of the Board of Trustees/Lecturer, Securities Industry Institute/Wharton Business School, 2004-2016