The SEC Ramps Up its Scrutiny of Asset Managers, Broker-Dealers and Other Financial Firms

Jeremy Pendrey is an Assistant Regional Director at the SEC and a member of the Asset Management Unit.

Jason Lee joined Lido in August 2017 and is responsible for the firm’s legal and regulatory functions. He also participates in the overall management of the firm. Jason also joined Lido's affiliate, Oakhurst Advisors, LLC, as General Counsel and Chief Compliance Officer in January 2018. Jason has over 20 years of white collar and securities-related litigation, regulatory, and compliance experience in both government, private practice, and in-house settings. He started his career in the Securities & Exchange Commission’s Honors Program and worked to protect investors through nearly 15 years in the Division of Enforcement, both in Washington D.C. and Los Angeles, pursuing investment adviser and broker dealer misconduct, financial fraud, insider trading, and market manipulation. He also worked on joint inter-agency criminal and civil investigations, including joint investigations with the FBI, FDA, and U.S. Attorneys’ offices throughout the country. Further, he advised the Director of the Division of Enforcement as a Senior Special Counsel on programmatic policies impacting the agency’s overall investigative and litigation efforts. Jason also spent six years in private practice at a San Francisco-based firm where he co-chaired its securities defense practice. There he represented hedge fund managers, investment advisors, brokers, and public companies in a myriad of federal, state, and regulatory investigations and actions. He also engaged in multi-jurisdictional complex business litigation, including securities class actions and mass actions. He is admitted to practice law in California and in all the state’s federal courts. Jason has been recognized by the SEC numerous times for his work, receiving multiple Division of Enforcement Director Awards and agency’s Award for Excellence (the SEC’s highest honor). In 2018, he was appointed by the California Supreme Court to serve as Chair of the California State Bar’s Board of Trustees, the governing body of the largest attorney bar in the country, overseeing over 250,000 licensees. As the Chair, he is charged with overseeing over 500 employees and the agency’s $250 million budget that runs the state’s attorney regulatory system, including discipline, admissions, and education, and critical diversity and access to justice efforts. Prior to his service on the Board of Trustees, Jason was the Chair of the Commission on Judicial Nominees Evaluation, the body statutorily responsible for vetting and rating the qualifications of all potential appointees to California’s trial and appellate courts.

Beth Dallmeyer is a Certified Public Accountant with expertise in financial services litigation and forensic investigations, financial statement analysis, compliance, technical audit and accounting guidance, and damage assessment.
Her engagements frequently include forensic accounting analysis, damage calculations, estimates of fair value, adherence with stated investment objectives, sufficiency of audit procedures and/or audit evidence, adherence with US Generally Accepted Accounting Principles (GAAP), International Financial Reporting Standards (IFRS), or statutory accounting principles (SAP), and adequacy of disclosures.

Hardy Calccott's practice concentrates on enforcement defense and regulatory counseling concerning securities market and regulatory issues for broker-dealers, investment advisers, mutual funds and others in the financial services industry. He provides securities enforcement defense before the SEC, Department of Justice, FINRA and other SRO and state regulators for members of financial services industry, public companies and officers and directors. He also conducts internal investigations.
Hardy is a member of Sidley’s global Securities Enforcement and Regulatory practice, which received the 2019 Chambers USA Award for “Financial Services Regulation Firm of the Year” and 2020 Chambers USA Band 1 for Financial Services Regulation: Broker Dealer (Compliance & Enforcement). Sidley was also named the “Law Firm of the Year” for Securities Regulation in 2020 and 2017 by U.S. News – Best Lawyers. Hardy was ranked nationally in Chambers USA for Securities Financial Services Regulation 2008–2021, including the highest category, Band 1, in both Broker Dealer (Compliance) in 2020 and Broker Dealer (Enforcement) in 2020 and 2021. He was also included in The Best Lawyers in America 2007–2012 and 2014–2016 lists, chosen based on peer-reviewed surveys of U.S. lawyers. He was with Charles Schwab & Co. Inc., as senior vice president and general counsel. He served in the General Counsel’s Office of the SEC as assistant general counsel for Market Regulation (now Trading and Markets), and taught in the Securities LLM program at Georgetown University Law Center. After law school, Hardy clerked for the Hon. Mariana Pfaelzer in the U.S. District Court for the Central District of California.

Peter Altman represents investment management firms, private and public companies, and individuals in white collar and other government enforcement and regulatory matters, securities and investment fund-related litigation and internal investigations. He represents clients in investigations and examinations conducted by the SEC and investigations conducted by the U.S. Commodity Futures Trading Commission (CFTC) and the U.S. Department of Justice (DOJ). Peter is a leader in the firm’s Digital Assets, Cryptocurrency and Blockchain practice and represents individuals and companies in government enforcement matters involving cryptocurrency, decentralized finance (DeFi), and other digital assets such as smart contracts and non-fungible tokens (NFTs).
Peter’s experience serving at the SEC provides him with a deep familiarity of the federal securities and commodities laws and the processes of the SEC. He routinely provides advice in investigations and enforcement proceedings involving issues, such as alleged insider trading and other forms of market abuse, and disclosure-related and regulatory compliance issues. He also advises investment advisers on day-to-day risk management issues related to topics including securities trading, compliance with the Investment Advisers Act, and the use of alternative data and web scraping in the investment research process.
Efficient, responsive and careful, Peter understands how government agencies identify, investigate, evaluate and present cases for enforcement action.
He sits on the firm’s Partnership Admissions Committee and is the Chair of the Los Angeles Office Hiring Committee.