Andrew Shipe is based in the firm’s Washington, D.C. office, where he is a member of the investment management practice group. He previously worked with the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and a large international law firm. Professional Background
Mr. Shipe concentrates his practice on the regulation of intermediaries in the financial markets, including:
- Securities broker-dealers
- Investment managers and investment funds
- Futures Commission Merchants (FCMs)
- Introducing Brokers (IBs)
- Exchanges and trading platforms
- Virtual currency and digital asset creators and intermediaries
Mr. Shipe assists clients with the establishment of new businesses, registration with the SEC and CFTC, and obtaining membership in self-regulatory organizations, such as the Financial Industry Regulatory Authority (FINRA), and the National Futures Association (NFA).
Mr. Shipe advises broker-dealers and other financial firms with respect to planning new business lines, creation of new products, business combinations, and entry into new markets. He advises financial firms in mergers and acquisitions, and in securing regulatory approvals for new operations and changes in control, including through FINRA’s new membership application (NMA) and continuing membership application (CMA) procedures. He also counsels clients as to ongoing compliance with FINRA, NFA and other self-regulatory organization rules, negotiating brokerage, clearing and advisory agreements, and the qualifications of personnel.
Mr. Shipe regularly counsels financial institutions from Europe, Latin America, and Canada as to doing business in the United States capital and derivatives markets. For non-U.S. clients, Mr. Shipe provides guidance on registration and licensing, safeguarding of customer funds and securities, distribution of research reports, “chaperoning” arrangements under SEC Rule 15a-6, the operation of U.S. subsidiaries, and compliance with the restrictions of the Volcker Rule.
Mr. Shipe also advises foreign and domestic exchanges and trade execution platforms on compliance with the U.S. securities and derivatives laws. He counsels financial firms and start-up ventures as to the creation and uses of cryptographic assets, whether securities, spot-market commodities or derivatives. Mr. Shipe also works with alternative financial services providers on the creation of new, unusual and innovative products, such as binary event options and prediction markets.