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Wayne M. Aaron is a Partner in the Litigation Department of Milbank, Tweed, Hadley, & McCloy LLP, representing major broker-dealers, investment advisers, and investment partnerships in connection with matters arising under applicable Federal, State, and self-regulatory rules and regulations. Prior to joining Milbank in September 2003, Mr. Aaron was a partner at Solomon, Zauderer, Ellenhorn, Frischer & Sharp.
Mr. Aaron regularly advises securities firms and their employees on complex sales and trading issues affecting the equities markets and represents these clients in inquiries by and enforcement proceedings before the Securities and Exchange Commission and self-regulatory organizations. His practice encompasses the wide-range of regulatory issues currently affecting financial service firms including, OTC, listed, and program trading practices; market structure and order priority issues; soft-dollar and directed brokerage programs; order-routing firm, market-making, and specialist obligations; IPO allocations; and research practices.
In addition to providing ongoing regulatory counseling, Mr. Aaron represents clients in responding to SRO inquiries and defending witnesses and their firms during on-the-record testimony and enforcement proceedings brought by the SEC, NASD, NYSE, and other state and federal regulatory agencies. Currently, Mr. Aaron is representing a number of the country's leading broker-dealers and their associated persons in significant private and public regulatory investigations by the SEC staff and the enforcement and market surveillance departments of the major self-regulatory organizations.
Mr. Aaron frequently lectures on the U.S. over-the-counter and listed equities markets. In addition to numerous compliance and training sessions for the OTC, Listed, Program Trading, and Block desks of various top-tier broker-dealers, Mr. Aaron speaks at various industry conferences. His recent presentations include: "Fixed Income Trading Issues" (SIA Compliance and Legal Division, Annual Seminar, March 2006), "Current Regulatory Issues" (Glasser Legalworks, Spring, 2003); "Current OTC and Listed Trading Issues (SIA Compliance and Legal Division, Annual Seminar, March 2004); "SEC Order Handling Issues" (SIA Compliance and Legal Division, Annual Seminar, March 2000); "Equity Capital Markets Issues" (Southwest Regional Seminar, October 1998); and "Current OTC Trading Issues" (San Francisco Regional Compliance Seminar, September 1998).
Mr. Aaron received his B.A. degree from Tufts University. He received his J.D. degree, with distinction, from Hofstra University School of Law, where he was an Articles Editor of the Hofstra Law Review. | 