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Commercial Counsel (Capital Markets) (Remote)

Los Angeles, CA
Full Time
Exp.: 7+ Years
The Commercial Counsel will be remote or based out of Los Angeles and report directly to the General Counsel. Working closely with legal team and business colleagues, you will be responsible for regulatory analysis of new products and strategic initiatives, while drafting and negotiating complex technology, financial services, and vendor agreements. You will work with legal team colleagues and outside law firms to ensure that the business is fully informed of relevant regulatory developments and practical impact of new law and regulation on the business.

  • Work as a member of the legal team to assist the leadership team in analyzing and navigating the financial regulatory landscape relevant to new products the company wishes to offer in the United States and internationally.
  • Advising on a wide range of legal and regulatory issues relating to particular products (equities, options, futures), account types (options, margin, portfolio margin), and trading platforms (web, mobile, active trader) in the United States and internationally.
  • Understanding the practical operational, staffing, and product development impact which results from different, complex financial services licenses the business may pursue
  • Legal coverage of operations, including fulfillment, core clearing, records management, and brokerage regulatory reporting
  • Legal coverage of securities lending business and other corporate treasury functions
  • Subject matter expert on application of financial responsibility rules
  • Drafting and/or reviewing disclosures, disclaimers, and educational content
  • Partnering with business on product development and service enhancements
  • Drafting and negotiating a wide range of agreements primarily with providers of research, marketing, educational, data services
  • Assisting with regulatory inquiries, examinations, and investigations
  • Reviewing and updating customer agreements, forms, and application
  • Assessing impact of regulatory developments and contributing to implementation of regulatory changes

  • Member in good standing of a state bar
  • At least 7+ years of legal experience in broker-dealer regulation in the financial services industry and/or private practice, or as a regulator. Experience with digital retail broker-dealers is a major plus.
  • Broad knowledge of and experience with the Securities Exchange Act of 1934, FINRA rules
  • Excellent communications skills are critical. You must be able to provide crisp and practical legal advice and synthesize complex regulatory constructs succinctly and effectively, especially in circumstances where application of the law to the underlying technology and related products is unclear.
  • Strong interpersonal skills to foster teamwork, influence decision-making, and maintain effective working relationships with internal colleagues and external clients
  • Ability to identify issues and suggest enhancements to form agreements, policies, procedures, and processes
  • Ability to work independently and as part of a team

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