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Specific Practice Areas for Professionals and Business Owners

Registered Investment Advisers

• Counsel on the Advisers Act.
• Assist with federal (IARD) and state registration filings, including:
  -Preparation/review of Form ADV, Parts 1 and 2;
  -Draft/review of investment advisory agreement; and
  -Draft/review of policies and procedures, and code of ethics.
• Review marketing materials, including content on firm’s website and third party websites.
• Conduct annual review/gap analysis of firm’s compliance program and make recommendations to mitigate risk.
• Prepare for SEC and/or state examinations, and respond to regulatory inquiries and deficiency letters.
• Represent firm and its investment adviser representatives in disciplinary proceedings before SEC and state regulators.

Broker-Dealers

• Counsel on FINRA rules.
• Assist with CRD registration filings, including:
  -Preparation/review of Form BD, U4 and U5; and
  -Review written supervisory procedures, Business Continuity Plan, and Continuing Education Program.
• Conduct branch office audits.
• Represent firm and its registered representatives in disciplinary proceedings before FINRA and state regulators.

Financial Advisors Who Hold Financial Services Designations

• Counsel on the ethical standards associated with financial services designations held by the firm’s advisors.
• Review firm policies and procedures, and standard operating procedures to determine whether ethical standards’ requirements are incorporated.
• Draft or review financial planning agreement, or modify existing investment advisory agreement as needed to comply with ethical standards.
• Represent financial advisors in disciplinary proceedings before quasi-governmental organizations such as CFA Institute, CFP Board, and AICPA.

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Experience

Mr. Shaw has practiced law for more than 20 years.  He is licensed to practice in Maryland and the District of Columbia.  

Before starting The Shaw Law Group, LLC in January 2015, Mr. Shaw worked in the financial services industry, most recently as Managing Director, Professional Standards & Legal for the Certified Financial Planner Board of Standards, Inc. (CFP Board) in Washington, DC where he oversaw the enforcement of CFP Board’s Standards of Professional Conduct, to which more than 70,000 financial advisors who hold the CFP® designation are subject. Previously, Mr. Shaw was Director, Assistant Corporate Secretary for the Financial Industry Regulatory Authority, Inc. (FINRA), also in Washington, D.C., where he held positions of increasing responsibility relating to the regulation of broker-dealers.  Prior to FINRA, Mr. Shaw was in-house counsel for Monumental Life Insurance Company in Baltimore, Maryland where he acquired his knowledge of insurance regulations and litigation.  Prior to attending law school at The Catholic University of America, Mr. Shaw began his career in the financial services industry as a financial advisor for Northwestern Mutual Life Insurance Company in Milwaukee, Wisconsin.   

Mr. Shaw possesses a thorough understanding of the laws, rules, and regulations pertaining to broker-dealers, registered investment advisers, hedge funds, private equity firms and insurance agents.  Specifically, he has in-depth knowledge of the rules and regulations that apply to the following:

• Broker-Dealers – and the applicable FINRA rules.  
• Registered Investment Advisers – and the applicable Investment Advisers Act of 1940, and SEC regulations.
  
• Insurance Agents – and the applicable state laws and regulations.
• Chartered Financial Analyst (CFA®) designation – and the applicable CFA Institute Code of Ethics and Standards of Professional Conduct.
• Certified Financial Planner (CFP®) designation – and the applicable CFP Board Standards of Professional Conduct.
• Certified Investment Management Analyst® (CIMA) designation – and the applicable IMCA Code of Professional Responsibility.
• Certified Private Wealth Advisor® (CPWA) designation – and the applicable IMCA Code of Professional Responsibility.
• Personal Financial Specialist (PFS) – and the applicable AICPA’s Standards in Personal Financial Planning Services.

Mr. Shaw’s particular area of expertise is in assisting financial advisors who hold financial services designations including, but not limited to, those listed above. Financial advisors who hold these designations are subject to investigation and potential enforcement action for non-compliance with the ethical standards of the organization that issues the designation.  Mr. Shaw can assist the individuals who hold any of these designations by reviewing their policies and procedures to ensure that the ethical standards associated with the designation are reflected in those policies and procedures.  He can also assist by representing these individuals should they become the subject of an investigation.  

Education

J.D., The Catholic University of America – Washington, D.C.
B.S., Economics, Marquette University – Milwaukee, Wisconsin

Licenses

District of Columbia Bar
Maryland Bar
Series 6 and 7 (both inactive)

Certifications and Designations

Certified Regulatory Compliance Professional (CRCP) – FINRA Institute at Wharton, Philadelphia, PA
Chartered Financial Consultant (ChFC) – The American College of Financial Services, Bryn Mawr, PA
Chartered Life Underwriter (CLU) – The American College of Financial Services, Bryn Mawr, PA[/wm_text_block][wm_text_block]

Published Articles

“The Challenge of Complying with Multiple and Differing Fiduciary Rules”, July 2016 issue of Currents, a monthly publication of the National Society of Compliance Professionals
https://www.nscp.org/the-challenge-of-complying-with-multiple-and-differing-fiduciary-rules-2/

 

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