As mentioned in this earlier BLT post, Foley & Lardner lost a partner to DLA Piper, but also picked up a new addition for its Washington office today.
Richard Wallace, previously chief counsel of the Financial Industry Regulatory Authority’s market regulation department, has joined Foley as a partner in the securities enforcement and litigation practice and in the securities, commodities and exchange regulation practice. Prior to joining FINRA, Wallace was a branch chief with the Securities and Exchange Commission’s Division of Enforcement. He spent a combined 18 years at the SEC and FINRA.
“The current financial turmoil will no doubt lead to new regulations and many investigations of violations of the federal securities laws and the rules of self-regulatory organizations,” said Wallace in a press release, adding that he will now have the opportunity to counsel Foley clients on these matters.