William Dailey is a Member of Pastore & Dailey LLC.
Mr. Dailey focuses his practice on securities regulatory, litigation and compliance issues, and also works on a variety of general corporate and employment matters. He has experience representing firms and individuals in major regulatory proceedings, class actions, and federal, criminal and other litigation. In addition, he managed a series of corporate reorganizations and over $300 million in private placements - all involving a publicly-traded, major investment bank.
Mr. Dailey has coordinated the efforts of outside counsel and overseen merger, acquisition and joint venture agreements and expansion into new businesses, including negotiating and drafting numerous agreements; designing systems of supervisory oversight and compliance; obtaining expeditious approvals from SEC and SROs, including FINRA; resolving corporate control and intellectual property right issues; designing and negotiating compensation plans and employment agreements; and designing cost-effective, internal controls and systems under Sarbanes-Oxley.
He has worked on matters involving the Dodd-Frank Act, the Securities Exchange Act of 1934, the Securities Act of 1933, the Investment Adviser Act of 1940, the Investment Company Act of 1940, state securities laws regarding broker-dealers and investment advisers, FINRA, NYSE, ISE and other SRO rules, federal and state employment laws,and more.
Mr. Dailey has counseled numerous broker-dealers and their employees in legal and regulatory matters, including representing firms, management and employees in matters before the SEC, FINRA, NYSE, AMEX and ISE, and obtaining very favorable results in numerous regulatory investigations, compliance examinations and other regulatory inquiries.
Mr. Dailey recently served as an independent director for four years on the Boards of Directors of the Direct Edge stock exchanges (EDGA and EDGX). He also served all four years on the Exchanges' respective board-level Regulatory Oversight Committees (including a term as chair) and Nominating & Governance Committees.
He started his career working for nine years in the Regulatory Division at the New York Stock Exchange. While there, he conducted investigations and hearings in a wide spectrum of regulatory matters - including insider trading and market manipulation cases as well as matters involving Trading Floor regulations applicable to specialists and Floor brokers - and also examined NYSE member firms for compliance with the federal securities laws and NYSE rules.
Mr. Dailey received his B.S., magna cum laude, from Manhattan College in 1987. He earned his J.D. degree from New York Law School in 1993. He is admitted to practice in New York, Connecticut and New Jersey.
Manhattan College, 1987, B.S. magna cum laude
New York Law School, 1993, J.D.
District of New Jersey
"Brokers and Advisers Beware: Taking Customer Information Could Get You Fined and Suspended," Securities Industry Alert (April 2011)
"New FINRA Rule: Customers May Now Opt for Three Non-Industry Panelists in FINRA Arbitrations," Securities Industry Alert (February 2011)
"Proposed FINRA Rule Impacts Private Placements," Securities Industry Alert (February 2011)
"FINRA Opens Up Brokers' Closets Even Further ... and for Longer," Securities Industry Alert (July 2010)
"The Dodd-Frank Wall Street Reform and Consumer Protection Act," Securities Industry Alert (July 2010)
"SEC Adopts New Rule Preventing Unfiltered Market Access," Securities Industry Alert (November 2010)
"Advisors: Beware of the 'Switch' From SEC Oversight to State Regulation," Securities Industry Alert (September 2010)
"SEC Proposes Amendments to Investment Advisers Act," Securities Industry Alert (June 2009)